Betfair

Betfair launched in June 2000 as the world's first online betting exchange, letting customers bet against each other rather than against a traditional bookmaker. The company has since built out a full fixed-odds Sportsbook alongside the original Exchange, and both sit within the same account and app. Following its 2016 merger with Paddy Power, Betfair now operates as part of Flutter Entertainment, one of the largest listed gambling groups. The Sportsbook covers the usual range of football, horse racing, tennis and other major sports, with in-play betting, cash-out and live streaming available on selected events. The Exchange remains a distinct feature for customers who want to back or lay prices set by other users rather than the bookmaker, which can produce better odds on popular markets but works differently from a standard fixed-odds bet. The mobile app mirrors the desktop site, with separate but linked areas for Sportsbook and Exchange betting. Account verification and payment options follow standard UK operator practice, and customers depositing via certain e-wallets should check which methods qualify for promotions before relying on them. Betfair's welcome offer for new UK customers centres on a qualifying bet on the Sportsbook (not the Exchange) that unlocks free bet tokens once settled. As with all new-customer offers, the exact terms can change, so customers should check the current terms on Betfair's own site before opening an account.