Twenty years ago, the first Australian market was settled on Betfair.

The event was an AFL match between Collingwood and North Melbourne in Round 22, 2006. On Betfair, Collingwood backers won that bet, while the punters on the other side of the bet, lost. There was no bookmaker setting the odds, punter vs punter betting had reached Australia.

During this early period, with offices in Tasmania and Melbourne, the team grew and established unique opportunities for Aussie punters on both local and global racing and sports markets.

A lot has happened since.

There have been Melbourne Cups decided by centimetres, unforgettable Grand Finals, World Cups, Australian Opens, Ashes series and over twenty-one million racing and sporting markets settled on Betfair.

And through it all, Australian punters have been doing something different on Betfair.

They have been betting against each other, as well as people all over the world, rather than against a bookmaker.

As Australia’s only betting exchange, Betfair gives customers the ability to back an outcome to happen, lay it not to happen and trade their positions as markets move — with the odds determined by the market itself.

20 YEARS OF BETTER ODDS, BIG CALLS AND GREAT STORIES

Bets placed by punters on Betfair have followed many extraordinary stories along the way.

Throughout September, Betfair will open the archives to celebrate the people, results and moments that have shaped two decades of racing and sports markets.

Moments like Winx missing the start of the Warwick Stakes in 2017, and her odds rising to $8.80 in-play. Somehow the famous mare still saluting by the finish.

More recently, Knight’s Choice, stunning Flemington to win the 2024 Melbourne Cup race at a Betfair Starting Price of $268, producing one of the great underdog stories of recent times.

In the AFL there have been shocks and comebacks, exemplified by huge odds fluctuations, as results unfolded. Just last year, Melbourne hit $1.01, while the Saints traded at $100, as St Kilda came from 46 points down at three quarter time to defeat Melbourne in the greatest final quarter comeback in the history of the game.

These are just a few remarkable odds stories Betfair will revisit as part of its 20th anniversary celebrations.

“We’re thrilled to be able to celebrate and share Betfair’s unique heritage and back stories with the many people that have been a part of Betfair’s journey in Australia”, Amy Zavros, CEO Betfair Pty Limited.

The anniversary will also be celebrated with dedicated content partnerships with Racing.com, SEN and Racing & Sports. Events will acknowledge and celebrate some of Betfair's most valued long-standing customers and staff.

STILL UNIQUE

While the technology available and the way punters engage with Betfair has changed enormously since 2006, the idea at the heart of Betfair has not.

Twenty years after that first AFL market was settled, Betfair remains Australia's only, and the world's largest betting exchange.

As the nation looks forward to another enthralling Spring Racing Carnival, the vision for Betfair is unchanged:

Give punters more choice. Empower them with unique ways to bet and more control of the odds they take. And be on their side.

WATCH HOW FAR BETFAIR HAS COME HERE