Betfred Review | Bookmaker Rating & Signup Offer 2024

7.4
Out of 10

Good

No Affiliate Links 

Please note that there are no affiliate links featured in this review. This means that we will not receive a commission if you proceed to open an account at this bookmaker. Unlike many other gambling referral sites, we remain committed to reviewing bookmakers that we do not actively endorse. This approach ensures that bettors have the opportunity to explore all available options, rather than solely focusing on those that might be advantageous for us.

Pros
Cons

Review Summary

Excellent

  How were these ratings created?

In this review of Betfred, I’ve examined a set of standard criteria to establish an impartial and data-driven rating for the bookmaker. Each of the above criterion is assigned a weight corresponding to its importance, with factors such as Odds and Features carrying more influence than others.

This methodical approach eliminates subjectivity and guarantees that only significant factors influence the overall rating. This results in a fair and objective assessment of the betting site, shedding light on both its strengths and weaknesses.

Unlike many other sites, Punter2Pro adheres to an identical process for all betting site reviews, ensuring that no brand receives an unjust advantage over another — regardless if we are affiliated with them or not.

About Betfred

Established in September 1967 as betting shops by ‘Petfre (Gibraltar) Limited,’ the Betfred bookmaker holds three licenses and stands out from many online betting platforms by also offering physical shops on high streets.

Adhering to standard industry practices, the platform ensures security through SSL data encryption, implements two-factor authentication, and employs ‘Know Your Customer’ (KYC) processes to prevent identity fraud.

Betfred prioritises user safety by incorporating measures like secure payment processing, Geo-Fencing to enforce legal betting areas, and compliance with local regulations. As a regulated entity, the platform provides essential ‘safer gambling’ tools, including Deposit Limits, Reality Checks, Time-Outs, and Self-Exclusions.

Furthermore, the site is eCOGRA certified, attesting to the safety and fairness of its systems, while its IBAS registration signifies the availability of an impartial mediator in case of disputes between bettors and the platform. These features collectively demonstrate Betfred’s commitment to fostering fair and secure gambling experiences.

Bookmaker Profile

Company

Petfre (Gibraltar) Limited

Established

September 1967 (as betting shops)

Website

Betfred.com

Target Markets

USA, UK, Spain, Ireland, South Africa

Languages

English, Spanish

Licences

Gibraltar, UK, Ireland

Regulators

1. Product Range

Excellent

Betfred’s website boasts an extensive selection of 9 primary products, encompassing Sportsbook, Casino, Live Casino, Poker, Bingo, Virtual Betting, Lotteries, Financials, and Tote/Pools. This diverse array of offerings reflects the platform’s commitment to serving a broad spectrum of players, aiming to be a comprehensive one-stop destination.

With its roots deeply embedded in the sports betting landscape, Betfred’s journey began in high street shops, many of which remain operational today. Over the years, the company has consistently adapted to stay competitive, establishing itself as a major player in the UK sports betting arena.

Standard

Popular products offered by many betting sites. These count more towards the score for this section than 'Specialist' products.

Specialist

Specialised "niche" products offered by some betting sites. These count less towards the score for this section than 'Standard' products.

8.8
Out of 10
Excellent

2. Sports & Markets

Excellent

The sportsbook segment on Betfred encompasses a total of 26 sports, which is 45% of the sports considered in my bookmaker reviews – 8 sports below the average. Popular sports, expected at the majority of online bookmakers, are marked with an asterisk in the list below.

While the sports coverage is not quite up to the level of the industry’s top betting sites, Betfred offers a comprehensive array of options (betting markets), distinguishing itself from many other recognised betting brands.

Users can navigate through the Betfred sportsbook via the left-hand menu or A-Z menu on the app, exploring a diverse range of sports, from mainstream events like The Hundred to more niche options such as hurling.

The specials could be extended further, as it currently focuses on limited TV events like Love Island and Sports Personality of the Year. Although political coverage is fairly diverse, encompassing  more UK and US events would enhance the bookmaker’s appeal even further.

Betfred’s in-play betting is easily accessible, featuring a variety of events every hour. Live coverage is enriched with statistics, line-ups, and live commentary, enhancing the overall user experience.

The live streaming service at Betfred now extends beyond its initial focus on horse racing and greyhounds, including additional sports such as tennis, table tennis, and football matches – an upgrade that has broadened the appeal of the platform.

All Available Sports (A-Z)

  • Shooting
  • Snooker*
  • Softball
  • Specials
  • Speedway
  • Surfing
  • Squash
  • Swimming
  • Table Tennis
  • Tennis*
  • Triathalon
  • Trotting
  • Virtual Sports
  • Volleyball
  • Water Polo
  • Winter Sports
  • Wrestling

  How are sports & markets graded?

To assess this section, every sport has been classified based on its betting popularity, assigning greater importance to widely sought-after sports like Football, Horse Racing, and Tennis, in contrast to those with a more limited audience appeal.

Furthermore, the inclusion of market depth (betting options) also contributes to the overall score, emphasising the importance of “quality over quantity”.

This approach ensures that not only the sports but also the richness and diversity of betting options within each sport are taken into account in the evaluation process.

8.5
Out of 10
Excellent

3. Odds

Competitive

In a randomly selected sample of 20 choices, Betfred’s odds were found to be 2.28% lower than the corresponding betting exchange Back odds available at that time.

The average decimal price for the bookmaker’s odds in the sample was 3.06, while the betting exchange’s odds averaged 3.13. This indicates that the odds provided by Betfred offer excellent value for a bookmaker.

Although this sample does not provide a precise assessment of Betfred’s pricing competitiveness, it offers valuable insights into the potential variation of their odds compared to the leading prices on the betting exchange. Consequently, this comparison plays a significant role in influencing the overall rating of this bookmaker.

Bookmaker vs Exchange Odds

Note: Please be aware that this sample only includes odds from top-flight European football leagues. To ensure uniformity across all bookmaker reviews, odds were capped at 10.0. We are committed to enhancing the depth and precision of this data regularly.

  Why are the exchange odds higher?

The betting exchange provides industry-leading odds generated by the public, traded peer-to-peer rather than against the betting company. These odds are widely considered the most accurate in the market. The betting exchange earns its revenue through a commission, usually applied to winnings.

In contrast, bookmakers operate under a different model, incorporating a margin or “edge” into their odds. Consequently, the prices offered by bookmakers tend to be lower than those found on the betting exchange.

This crucial information is often overlooked by many gambling affiliate sites, but for the sake of transparency, it should be common knowledge. Despite this, bookmakers give many advantages over betting exchanges.

9.2
Out of 10
Competitive

4. Bonuses

Excellent

As a Betfred customer, you’ll regularly encounter opportunities to participate in sports betting promotions, such as free bets and refunds associated with losing accumulators or horse racing bets. As of the time of crafting this review, the following promotions were accessible:

  • 50% on winning football accas as a free bet or refund if 1 leg lets you down.
  • Double or treble the odds if your winning goalscorer bet scores a 2nd or 3rd.
  • Money back as a free bet if your horse finishes 2nd.
  • Extra places on specified races.
  • Place a Lucky 15/31/63 and get up to 5x the odds if you only have one winner.

Such promotions, or ‘reloads,’ are consistently worthwhile for regular bettors, providing ongoing value.

The existing Betfred signup bonus ‘Bet £10 Get £30’ also surpasses the average, serving as an excellent introduction to the platform. As of the review date, it is 49.9% higher than the average value of free bets featured on this site.

Overall, the site delivers good value through its bonuses. If you haven’t already registered, you can claim the signup promotion through the link below. 

Is The Signup Bonus Worth It?

Our calculations suggest that an average customer can expect to gain around £20.51 in value by availing themselves of this promotion.

It’s important to note, however, that while the promotion favours the player, this calculation serves as a guideline, and there is a risk of losing the initial qualifying bet. Therefore, although the promotion offers potential value, it certainly doesn’t guarantee a profit.

  How was this bonus valued?

This bonus was mathematically valued using an “average case” scenario. This makes few important assumptions:

  1. Odds gathered in the previous section are assumed to be representative of the overall value offered by the betting site. 
  2. Qualifying bets are assumed to be placed at the minimum required odds for the promotion (2.0) to reduce risk.
  3. Free bets are assumed to be placed at decimal odds of 3.5, representing “medium risk” outcomes.

The same assumptions apply in all betting site reviews featured on Punter2Pro. This ensures that free bets & promotions can be compared consistently and fairly.

This approach helps to highlight valuable promotions, as well as cases where a typical bettor does not stand to benefit.

7.8
Out of 10
Excellent

5. Payment Options

Good

Betfred offers a concise selection of 7 payment methods for depositing and withdrawing funds on the betting site. This encompasses 18% of all the recognised methods assessed in my reviews.

All 7 of these options are categorised as ‘core’ payment methods, representing the standard options found at any reputable betting site. This means that Betfred does not provide the option for slightly less common payment methods, such as ecoPayz or Click2Pay. However core payment methods contribute more significantly to the bookmaker’s score for this section anyway.

It’s worth noting that players can easily deposit and withdraw funds to and from your online account at any Betfred shop, commonly located on high streets.

Popular Methods Supported

Mastercard | Gambling Payment Method | Pros & Cons
Visa | Gambling Payment Method | Pros & Cons
Bank Transfer | Gambling Payment Method | Pros & Cons
Skrill | Gambling E-Wallet | Pros & Cons
Neteller | Gambling E-Wallet | Pros & Cons
PayPal | Gambling E-Wallet | Pros & Cons
Paysafecard | Gambling Prepaid Credit Card | Pros & Cons

All Available Methods (A-Z)

5.8
Out of 10
Good

6. Withdrawal Speed

Moderate

The withdrawal times at Betfred vary depending on the chosen method, with processing usually taking an average of up to 4 working days across all payment methods, demonstrating a moderate speed.

However, according to the gathered data, this is 52.43% slower than the overall average of all bookmakers assessed on this site.

The speed of withdrawals plays a crucial role in determining the bookmaker’s overall rating, as every sports bettor deserves prompt access to their funds.

Payment MethodWithdrawal TimeMinimumFee

Bank Transfer
3 - 7 days£25Free

Visa
3 day(s)£5Free

Mastercard
3 day(s)£5Free

PayPal
3 day(s)£5Free

Skrill
3 day(s)£5Free

Neteller
3 day(s)£5Free

  How is withdrawal speed graded?

The rating for this section is derived from a combination of data, incorporating:

  • The bookmaker’s officially stated withdrawal times, dependent upon the successful completion of Know Your Customer (KYC) requirements.
  • Average withdrawal times as reported by actual customers with real-world experiences.

I aim to gather enough data to provide accurate estimates of the withdrawal times for various payment methods. If insufficient data exists for a particular method, it is not included in the above list, and therefore does not impact the rating.

6.1
Out of 10
Moderate

7. Features

Excellent

What features does Betfred offer to enhance its service quality?

Betfred provides 7 key Sports Betting features, which is an average offering. Among these is the Cash Out feature, allowing punters to secure winnings on both single and multiple bets before settlement.

The Bet Builder enables users to combine bet building with customisation, available on selected matches across various sports.

It’s worth noting that the Request a Bet (RAB) feature at Betfred can be accessed via the hashtag #PickYourPunt. This allows bettors to request prices for highly custom bets.

Additionally, Betfred includes 4 primary Customer Support features, allowing users to make general inquiries, check bonus eligibility or terms, and request self-exclusions or time outs.

If these features align with your requirements, Betfred might be a suitable betting site for you.

Sports Betting

Features that enhance the sports betting experience. These count more towards the score for this section than 'Customer Support' features. 

Customer Support

Features that enable customers to seek assistance quickly and effectively. These count less towards the score for this section than 'Sports Betting' features.

  • Live Chat
  • Phone Support
  • Email Support
  • 24/7 Support
10
Out of 10
Excellent

8. User Interface

Good

Evaluating Betfred’s user interface involves considering different preferences among bettors, which can vary.

I’ve used specific criteria to produce two separate ratings:

  • Mobile: Decent, meets expectations
  • Desktop: Great, slightly exceeds expectations.

The mobile version holds a bit more weight in the overall rating, acknowledging the increasing preference for apps over traditional desktop sites.

The Betfred app has its strengths, but it doesn't particularly stand out as a top-tier offering.

On the whole, the app has a clean and sensible interface, characterised by simple fonts and appealing shades of blue on white. However, its choice to incorporate smaller elements on the page is a double-edged sword. While it allows for a quick overview of many betting options, on smaller devices, it lacks the boldness needed for easy navigation (with some buttons being quite small).

Similar to the desktop version of the Betfred site, it can feel a bit cumbersome to navigate to your desired bets, often requiring more clicks than necessary. For example, clicking "Football" necessitates selecting the league on one screen and then "Matches" on the next screen, then scrolling down to find the right match. This minor inconvenience could have been addressed with a simple search tool, which unfortunately is not a feature.

The inclusion of supplementary content like team information on the bet pages is positive but the loading speed of such features is slightly sluggish, which downgrades the experience a little. Once again, a positive is let down by a minor inconvenience.

In summary, the Betfred app struggles to truly excel in any particular aspect, but it remains clean and functional.

Mobile Ratings
Content
Navigation
Aesthetics

The Betfred desktop site has a traditional look and feel, offering an effective presentation of sports betting opportunities. While it may not boast the most visually striking design, it is simple, generally intuitive -- but with room for improvements.

I appreciate the site's attention to some smaller details, such as providing information on TV channels to watch sports events, and providing Racing Post key stats. Furthermore, the inclusion of a previews and tips (blog) section gives Betfred a competitive edge compared to other bookmakers of similar popularity.

However, throughout my review of Betfred, I did encounter instances where the page load time was not as swift as expected, and a brief loading wheel appeared when accessing more resource-hungry features. Although not a major concern, these moments are noticeable.

The navigation at Betfred will not be optimal for some users. For instance, when selecting "Football", there is not an immediate list of the most popular options available. So finding even common top-flight markets takes a little longer than it needs to, in my opinion. Unfortunately, this same user journey is mirrored in the mobile version of the site without a search tool present.

Addressing these small criticisms could refine the overall user experience on an otherwise solid site.

Desktop Ratings
Content
Navigation
Aesthetics
6.3
Out of 10
Good

9. Fund Protection

Weak

An essential consideration is the level of fund protection offered by Betfred and the safety of your money.

The site holds a ‘Zero’ fund protection rating, as evaluated by the Gambling Commission (UKGC). This implies that in the event of insolvency, customer funds would be treated as part of the business’ assets. It’s somewhat surprising and disappointing that Betfred lacks fund protection, given its established reputation in the UK.

While UKGC fund protection levels are important, it’s equally important to assess the financial performance of the company, as it serves as a more probable indicator of the likelihood of insolvency. 

Betfred is a profitable company — though not on the scale of some of its larger competitors. In its most recent financial accounts, the company reported an annual profit of £19,600,000 before tax, compared to the average annual profit of £51,900,000 for all sites reviewed.

While this doesn’t provide the complete picture, it does offer insight into how the betting company operates in a business sense relative to its competitors, influencing the rating for this section.

Lastly, I have investigated account dormant fees, commonly charged on inactive betting accounts. A positive aspect about Betfred is that it does not impose dormant account fees, distinguishing it from many other bookmakers of a similar standing.

By considering these potential risk factors, I have formulated a fair and significant score for this section. Unfortunately, fund protection is not Betfred’s strong point. This means that high rollers would be best served elsewhere.

  How accurate are these profit figures?

I’ve made every effort to research the pre-tax profits of the featured gambling sites in my reviews, but I cannot guarantee absolute accuracy.

Due to the complex setups of gambling companies, which are often divided into different parts around the world, complications arise in determining their true profitability. Moreover, the landscape is constantly evolving with frequent mergers and investments occurring, adding yet another layer of complexity to unravel.

While I strive to offer a helpful insights, it is advisable for you to conduct further research if you have any concerns.

1.0
Out of 10
Weak

10. reputation

Strong

Lastly, I examined how people perceive Betfred, taking into account customer satisfaction and the overall image of the brand.

To get a clear understanding, I collected opinions from various sources such as customer feedback platforms and reputable gambling communities. The result is an average user rating of 7.17 out of 10, indicating that most people view Betfred positively, with only occasional complaints – a common occurrence for sports betting sites.

I also investigated whether Betfred had encountered any issues with the Gambling Commission, and currently, there’s one recorded regulatory action. This suggests they may have violated the terms of their licence. This type of breach isn’t uncommon and doesn’t necessarily pose a significant problem for customers — but it’s crucial to acknowledge that Betfred doesn’t have a flawless record. The most recent issue occurred within the last year, leading to a slight downgrade in the rating for this section.

  Do any sites have an immaculate reputation?

It’s highly unlikely that any betting site will score maximum points in this section, for a good reason — none of them are perfect.

Even the most prominent and reputable sites in the online gambling business have weathered their fair share of bad publicity, and I won’t shy away from that.

Nevertheless, the landscape of the gambling sector is undergoing positive transformations. Faced with heightened regulatory scrutiny and societal expectations, companies are being forced to improve their standards. Many are rising to the occasion, creating a significant gap between the commendable platforms and those falling way short of the mark.

I hope that the industry continues to push for a more responsible, enjoyable experience for all customers and that, eventually, this section will produce higher ratings in my reviews.

Learn more: Problems In The Gambling Industry

6.1
Out of 10
Strong

Verdict

In summary, according to the Punter2Pro bookmaker rating system, Betfred earns a total score of 6.7, positioning it as an excellent sportsbook with notable strengths and some areas for potential enhancement.


My Opinion

The Betfred sports betting operator has demonstrated resilience in navigating the dynamic landscape of online gambling over the years. A standout feature for me was the competitive odds offered by Betfred, which I consider a significant advantage of the site.

I appreciate Betfred’s commitment to maintaining its ‘Bonus King’ reputation, evident in their efforts to provide added value to players through their signup bonus and regular promotions.

However, it’s crucial to note some finer points where Betfred falls short, notably in terms of fund protection. This aspect is lacking compared to many lesser-known sites — which is both surprising and disappointing.

In addition to this, expediting withdrawal processes and slightly improving the sharpness of the betting app would not only enrich the overall user experience but also propel Betfred to the standards set by its close competitors.

Pros
Cons
7.4
Out of 10

Good

FAQ

When was Betfred established?

Betfred, initially as betting shops, was established in September 1967 by ‘Petfre (Gibraltar) Limited.’

Does Betfred offer physical shops?

Yes, Betfred distinguishes itself by offering physical shops, often found on high streets, in addition to its online platform.

What gambling products does Betfred offer?

Betfred’s extensive product range includes Sportsbook, Casino, Live Casino, Poker, Bingo, Virtual Betting, Lotteries, Financials, and Tote/Pools.

How competitive are Betfred's odds?

Betfred’s odds are competitive for a bookmaker, with a random sample showing  value of only 2.28% lower than the leading odds on the betting exchange. This sample was however limited to top-flight football selections.

More Bookmaker Reviews
Toby @ Punter2Pro