Forward thinking and innovative, the site offers opportunities for all types of bettors.
The company leads the way as far as the new wave of person-to-person betting exchanges are concerned and, despite detractors in some quarters, looks to have permanently changed the betting industry.
The key difference is that, where previously backing horses was just about the only option available for punters, exchanges allow them to take on the role of bookmaker and lay as few, or as many, of the field as they wish.
With these new layers often taking stronger views and capable of operating at tighter margins, backers can, reasonably frequently, obtain better odds for their selections.
The advantages don't end there, players can now trade in odds to gain risk-free profit, manage liabilities more effectively and bet 'in-running' on races.
The site is well put together, with users offered the chance to personalise their default settings, and easy to navigate with win and place markets on every race, an extensive range of ante-post opportunities and various specials.
The runners are put up on the site the night before and trading begins there and then but, particularly where more run of the mill racing is concerned, there is not always a huge amount of market liquidity through the early stages and those looking to make a lumpy bet could struggle for a layer.
One other thing to remember is that, due to the division of the markets, a couple of extra points may be on offer to win but each-way punters looking to get a bet to nothing are at the mercy of the place layers.
Also of interest is the forum which is full of punters exchanging views, tips and occasionally insults about a wide range of racing topics, access is available to all users subject to the site's terms and conditions.
Free bets are available with matched deposits of £20, which can be placed on any market, on offer for new users. Promotional codes are required but can be found easily with a quick search around the web.
Betfair, due to its dominance of the exchange market, has opened up new possibilities for punters in terms of laying and trading and, while it is by no means the only account you need, it is the most vital weapon available to punters in the daily battle of profit and loss.