# Betfair review (2026)

> Betfair is the closest thing Australia has to a prediction market, and the only legal one of its kind: a betting exchange licensed by the Northern Territory, where you back or lay outcomes against other punters, at prices they set. It has run deep US election markets, and Australian elections are approved betting events. Instead of a margin it takes a published commission on net winnings in each market, 6% on sport since March 25, 2025; Betfair doesn't publish a separate rate for politics. Its weak points: in-play sports bets are phone-only, as at every Australian bookmaker, PayID deposits start at $30, and we found no live chat or published helpdesk hours.

- URL: https://safebet.ai/au/prediction-markets/betfair-review/
- Markdown version: https://safebet.ai/au/prediction-markets/betfair-review/index.html.md
- Last updated: 2026-10-25 (re-checked when an operator changes its terms or a regulator or court acts)
- Author: SafeBet.ai Research Team (SafeBet.ai)
- SafeBet.ai score: 8.5/10
- Ranking: #1 of 5 in [Best event betting sites in Australia](https://safebet.ai/au/prediction-markets/) — Closest to a prediction market
- Official website: https://www.betfair.com.au/
- Operator: Betfair Pty Ltd
- Notice: Advertising. SafeBet.ai may be paid by the operators shown when you register through our links. We only link to betting services on ACMA’s register of licensed providers. 18+ only. Online casinos and prediction markets aren’t legal in Australia, and we don’t link to any.
- Statutory warning: Chances are you’re about to lose. For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au
- Editorial policy and advertiser disclosure: https://safebet.ai/editorial-policy/

## Key facts

| | |
|---|---|
| Operator | Betfair Pty Ltd, licensed and regulated by the Northern Territory; on ACMA's register of licensed interactive gambling providers |
| Licence | Northern Territory betting exchange licence, first granted in September 2016; the NT Wagering Commission's 2025–26 annual report lists one betting exchange brand in the territory |
| Regulatory record | Two NT fines of $24,174 each on June 24, 2024, for missing problem-gambling red flags with two customers, one of whom bet heavily on the 2020 US presidential election; an NT fine of $13,090 in August 2017 over an incomplete telephone recording |
| How it works | You back an outcome to happen or lay it not to happen, against other punters who take the opposite view, and can request your own odds; Betfair doesn't take the other side of your bet |
| Event markets | Politics markets including US presidential elections (election winner, nominees, state races, electoral college handicaps, popular vote), plus sport and racing; Northern Territory rules allow bets on elections, awards, RBA interest rates, ABS statistics and other declared events |
| Commission | A Market Base Rate on net winnings per market, shown in each market's Rules tab: 6% on sport and international racing, 10% on NRL, 8% or 10% on Australian racing (since March 25, 2025); nothing on a market you lose; a Premium Charge for a small number of very profitable customers |
| Deposits and withdrawals | Debit card from $10, PayPal from $15, Osko/PayID from $30, all free; withdrawals by PayPal (up to 24 hours) or bank transfer (1–3 working days); no credit cards; Australian cards can't be used for withdrawals |
| Minimum bet | $1 online, $50 by phone; in-play sports bets by phone only, on 132 BET (132 238), 24/7 |
| Apps | Betfair - Online Betting App: 4.54/5 from 6,491 ratings on the Australian App Store and 4.24 from 1,201 on Google Play (October 23, 2026) |
| Support | Helpdesk 1300 BETFAIR (1300 238 324) and service@betfair.com.au; we found no published helpdesk hours |

## Scores

- Licensing & safety (25%): 8.5/10
- Event markets (25%): 9.5/10
- Commission & pricing (15%): 9.0/10
- Payments & payouts (10%): 7.0/10
- App & experience (15%): 8.0/10
- Support & responsible gambling (10%): 7.0/10

## Pros

- The only licensed betting exchange in Australia: you bet against other punters, at prices they set
- A published commission on net winnings instead of a built-in margin, and nothing to pay on a market you lose
- Deep politics markets, from US election winners to state races and electoral college handicaps
- You can lay an outcome, betting that it won't happen, which a bookmaker doesn't offer
- Free deposits and withdrawals

## Cons

- Commission rose to 6% on sport on March 25, 2025, and Betfair doesn't publish a separate rate for politics markets
- Two NT fines in June 2024 for missing problem-gambling red flags
- In-play sports bets are by phone only, with a $50 minimum
- Osko/PayID deposits start at $30, and Australian cards can't be used for withdrawals

## What is Betfair?

Betfair is a betting exchange: you bet against other punters instead of a bookmaker. You can **back** an outcome to happen or **lay** it not to happen, ask for your own odds, and Betfair charges a commission on your net winnings in each market. In Betfair's own words, it doesn't "take" bets but provides "a technology platform for customers to exchange bets". It ranks #1 in [our ranking of the legal alternatives to prediction markets in Australia](https://safebet.ai/au/prediction-markets/).

A note on our sources: Betfair's betting site and its terms were blocked to us from outside Australia, so this review relies on Betfair's help hub, the Northern Territory's decisions and register, ACMA's register and Betfair's app listings.

## Is Betfair licensed in Australia?

Yes. Betfair Pty Ltd is licensed and regulated by the Northern Territory, which first granted it a betting exchange licence in September 2016, and it's on ACMA's register of licensed interactive gambling providers. It's the only exchange of its kind: the NT Wagering Commission's 2025–26 annual report lists a single betting exchange brand, and Betfair calls itself "Australia's only online betting exchange".

Its record with the regulator: on June 24, 2024 the NT Racing Commission fined it $24,174 in each of two cases for failing to act on problem-gambling red flags, a big rise in deposits and an unusually large exposure to a single outcome; one of the two customers had bet heavily on the 2020 US presidential election. In August 2017 it was fined $13,090 over an incomplete telephone recording. Check any site with our [legality check](https://safebet.ai/au/sports-betting/licence-check/).

## Event markets

Betfair runs politics markets alongside its sport and racing. Its published rules for the 2024 US presidential election list markets on the election winner, the Democratic and Republican nominees and running mates, every state race, electoral college handicaps, the winning party and the popular vote, settled once the Associated Press projects a winner and the loser concedes. Its help hub has also covered Victorian and New South Wales state elections and US midterms.

What you can bet on depends on Australian rules. The Northern Territory, which licenses Betfair, declares political elections, entertainment and literary awards, Nobel prizes, RBA interest rates, ABS statistics such as CPI and unemployment, stock and currency indices, oil prices, weather and cryptocurrency prices as betting events, provided the result is clear, public, independently verifiable and known within five days, and the event isn't restricted to under-18s. In-play bets on sport are phone-only under the Interactive Gambling Act: Betfair takes them on 132 BET (132 238), 24 hours a day, from $50.

## Commission and charges

Betfair takes no margin; it charges a **Market Base Rate** on your net winnings in each market, shown in the market's Rules tab, and nothing on a market where you make a net loss. Since March 25, 2025 the rates are 6% on sport and international racing, 10% on NRL, and 8% or 10% on Australian racing, depending on the state and racing code; they were 5% and 7% before. Betfair doesn't publish a separate rate for politics markets, so check the Rules tab before you bet.

A small number of very profitable customers pay a **Premium Charge**, a weekly top-up that brings their total fees to 20% of their gross profit if it's between £25,000 and £100,000 over their last 52 active weeks, or 40% above £100,000. Very high-volume, low-margin punters on NSW thoroughbred and NRL markets can also pay a turnover charge. Our [Betfair commission calculator](https://safebet.ai/au/prediction-markets/commission-calculator/) shows what a back or lay bet pays after commission, and whether it beats a bookmaker's price.

## Deposits and withdrawals

You can deposit by debit card from $10, PayPal from $15 and Osko/PayID from $30, all free; Betfair takes no credit cards, cheques or third-party payments. Withdrawals go by PayPal, within 24 hours, or bank transfer, in 1 to 3 working days, both free; Australian cards can't be used for withdrawals. The minimum bet is $1 online.

## App and experience

The Betfair - Online Betting App is rated 4.54 out of 5 from 6,491 ratings on the Australian App Store, and 4.24 from 1,201 on Google Play (October 23, 2026).

## Safety, responsible gambling and support

As a licensed provider, Betfair can't take credit cards or crypto, must keep anyone registered with BetStop, the national self-exclusion register, from opening an account or betting, and must follow the Northern Territory's Code of Practice for Responsible Service of Online Gambling. Support is by phone on 1300 BETFAIR (1300 238 324) and by email at service@betfair.com.au; we found no published hours for the helpdesk. Free, confidential help: the National Gambling Helpline on 1800 858 858, 24/7, and our [guide to gambling help in Australia](https://safebet.ai/au/guides/gambling-help-australia/).

## Who is Betfair best for?

- **Punters who want a prediction-market experience legally**, trading outcomes against other people.
- **Anyone who wants to lay**, betting that something won't happen.
- **Not for** punters who want in-play sports betting online, or the widest choice of payment methods.

## Our verdict

Betfair is the only licensed way in Australia to bet against other punters on elections and other events, at prices they set and for a published commission, which puts it top of our ranking despite two small fines in 2024. Compare it in [our ranking](https://safebet.ai/au/prediction-markets/), or see the [best Betfair alternatives](https://safebet.ai/au/prediction-markets/betfair-alternatives/).

## How Betfair compares

| # | Event betting site | Score | Licence | Type | Event markets | Commission or margin | Payments | Apps |
|---|---|---|---|---|---|---|---|---|
| 1 | [Betfair](https://safebet.ai/au/prediction-markets/betfair-review/) | 8.5/10 | Betfair Pty Ltd, NT betting exchange licence | Betting exchange: back or lay against other punters | Elections and politics, awards, sport and racing | Commission on net winnings: 6% on sport (politics rate not published) | Debit card ($10), PayPal ($15), Osko/PayID ($30) | iOS 4.5 · Android 4.2 |
| 2 | [bet365](https://safebet.ai/au/prediction-markets/bet365-review/) | 8.5/10 | Hillside (Australia New Media) Pty Ltd, NT | Bookmaker (fixed odds) | Australian, UK and US elections; Eurovision, weather and TV specials | Margin built into the odds (not published) | Debit card, Apple Pay, Google Pay ($5), PayID, PayPal; withdrawals 1–4 hours | iOS 4.7 · Android 4.6 |
| 3 | [PointsBet](https://safebet.ai/au/prediction-markets/pointsbet-review/) | 7.8/10 | Pointsbet Australia Pty Ltd, NT | Bookmaker (fixed odds) | Elections, US and UK/European politics, entertainment and novelty | Margin built into the odds (not published) | Debit card, Apple Pay, Google Pay, PayID, PayTo ($5); withdrawals usually within 30 min | iOS 4.6 · Android 3.3 |
| 4 | [Sportsbet](https://safebet.ai/au/prediction-markets/sportsbet-review/) | 7.6/10 | Sportsbet Pty Ltd, NT | Bookmaker (fixed odds) | Elections, Australian, UK and US politics, novelty and awards | Margin built into the odds (not published) | Debit card, Apple Pay, Google Pay, PayID, PayPal ($5), BPAY | iOS 4.6 · Android 3.1 |
| 5 | [Bet Right](https://safebet.ai/au/prediction-markets/betright-review/) | 7.2/10 | IRPSX Pty Ltd (Bet Right), NT | Bookmaker with exchange-style yes/no prices (InfoMarket) | Sport, Bitcoin and Ethereum prices, politics where approved | Prices in cents (1c–99c), margin included (not published) | Not verified (its sites blocked us) | iOS 4.7 · Android 4.7 (Bet Right app) |

See the [best Betfair alternatives](https://safebet.ai/au/prediction-markets/betfair-alternatives/).

## Frequently asked questions

### Is Betfair legal in Australia?

Yes. Betfair Pty Ltd holds a betting exchange licence from the Northern Territory, first granted in September 2016, and is on ACMA's register of licensed interactive gambling providers. Check any site with our [legality check](https://safebet.ai/au/sports-betting/licence-check/).

### Is Betfair a prediction market?

Not legally: it's a licensed betting exchange, and every bet is a wager under Northern Territory law. But it works much like one: you back or lay outcomes such as elections against other punters, at prices that move with what people are willing to bet. Prediction markets such as Polymarket aren't legal in Australia, and ACMA blocks polymarket.com.

### How much commission does Betfair charge?

A Market Base Rate on your net winnings in each market: 6% on sport and international racing, 10% on NRL, and 8% or 10% on Australian racing, since March 25, 2025. Each market's Rules tab shows its rate, and you pay nothing on a market you lose. Our [Betfair commission calculator](https://safebet.ai/au/prediction-markets/commission-calculator/) works out any bet.

### Can I bet on elections on Betfair?

Yes, where regulators approve them: the Northern Territory declares political elections a betting event. Betfair has run US presidential election markets, from the winner to state races and the popular vote, settled under published rules.

### Can I bet in-play on Betfair?

On sport, only by phone: the Interactive Gambling Act bans online bets on a sporting event once it has started. Betfair takes in-play sports bets on 132 BET (132 238), 24 hours a day, from $50; in-play horse racing is available online too.

## Sources

1. [Check if a gambling operator is legal (register of licensed interactive gambling providers)](https://www.acma.gov.au/check-if-gambling-operator-legal) — ACMA, last updated 2026-10-21; accessed 2026-10-25
2. [Licensed wagering operators](https://dth.nt.gov.au/boards-and-committees/wagering-commission/licensed-wagering-operators) — NT Wagering Commission, list last updated 2026-10-23
3. [NT Wagering Commission Annual Report 2025–26](https://dth.nt.gov.au/__data/assets/pdf_file/0006/1650138/ntrw-commission-annual-report-2025-26.pdf) — Northern Territory Government, 2026; accessed 2026-10-23
4. [Investigation into Betfair Pty Ltd dealings with Mr A](https://dth.nt.gov.au/media/docs/boards-and-committees/racing-commission/racing-commission-decisions/prior-to-2019/2024/investigation-into-betfair-pty-ltd-dealings-with-mr-a.pdf) — NT Racing Commission, 2024-06-24
5. [Investigation into Betfair Pty Ltd dealings with Mr E](https://dth.nt.gov.au/media/docs/boards-and-committees/racing-commission/racing-commission-decisions/prior-to-2019/2024/investigation-into-betfair-pty-ltd-dealings-with-mr-e.pdf) — NT Racing Commission, 2024-06-24
6. [Racing Commission v Betfair (licence conditions)](https://dth.nt.gov.au/media/docs/boards-and-committees/racing-commission/racing-commission-decisions/prior-to-2019/2017/Racing-Commission-v-Betfair-Redacted.pdf) — NT Racing Commission, 2017-08-16
7. [Betfair FAQ](https://www.betfair.com.au/hub/faq/) — Betfair Australia, updated 2023-03-02; accessed 2026-10-23
8. [Commission and charges](https://www.betfair.com.au/hub/help/commissions-charges/) — Betfair Australia, updated 2025-03-25; accessed 2026-10-23
9. [Betfair pricing update: futures markets](https://www.betfair.com.au/hub/education/betfair-pricing-update-futures-markets/) — Betfair Australia, 2025-02-17
10. [Premium Charge FAQ](https://www.betfair.com.au/hub/help/premium-charge-faq/) — Betfair Australia, 2025-01-15
11. [Turnover Charge](https://www.betfair.com.au/hub/help/turnover-charge/) — Betfair Australia, updated 2026-04-14
12. [Deposits and withdrawals](https://www.betfair.com.au/hub/help/deposits-and-withdrawals/) — Betfair Australia, updated 2025-06-16; accessed 2026-10-23
13. [Card payments](https://www.betfair.com.au/hub/help/card-payments/) — Betfair Australia, updated 2024-05-08
14. [Help centre](https://www.betfair.com.au/hub/help/) — Betfair Australia, updated 2025-01-15; accessed 2026-10-23
15. [Market rules information for settled US Presidential Election 2024 markets](https://www.betfair.com.au/hub/sports/politics/market-rules-us-election/) — Betfair Australia, 2024-08-02, updated 2025-03-26
16. [Declared sporting events for bookmaking](https://nt.gov.au/industry/gambling/licences/bookmaker-and-betting-exchange-licences-and-permits/declared-sporting-events-for-bookmaking) — Northern Territory Government, updated 2026-08-12
17. [Betfair - Online Betting App (App Store listing)](https://apps.apple.com/au/app/betfair-online-betting-app/id1504026333) — Apple App Store (Australia), version 2.0.2 of 2026-09-23; accessed 2026-10-23
18. [Betfair - Online Betting App (Google Play listing)](https://play.google.com/store/apps/details?id=au.com.betfair.rnapp&gl=AU&hl=en) — Google Play (Australia), accessed 2026-10-23
19. [Interactive Gambling Act 2001](https://www.legislation.gov.au/C2004A00851/latest/text) — Federal Register of Legislation, compilation of 2024-10-14; accessed 2026-10-23
20. [About BetStop](https://www.betstop.gov.au/about/) — BetStop (Australian Government), accessed 2026-10-23
21. [Blocked gambling websites](https://www.acma.gov.au/blocked-gambling-websites) — ACMA, list checked 2026-10-23
22. Geographic restrictions (help.polymarket.com/en/articles/13364163-geographic-restrictions, not linked: unlicensed site) — Polymarket, 2026-08-14