The value-led campaign, created in-house, makes use of Betfair's new strapline, 'Don’t Settle for Less', which is being rolled out across TV, print and online.
The campaign marks the first time that Betfair has made direct price comparisons against its competitors, which include William Hill, Ladbrokes, Bet 365 and Paddy Power.
Peter Marcus, Betfair's UK managing director, said: "This is a simple campaign delivering the clear fact to both existing and potential customers, that Betfair offers far better value than the other bookmakers."
Betfair said the campaign was worth seven figures.
In August last year, Betfair radically overhauled its sport sponsorship activities by introducing four brand ambassadors.
The brand signed up former England cricketer Michael Vaughan, retired rugby star Will Greenwood, ex-footballer and now pundit, Lee Dixon, and racehorse trainer Paul Nicholls.
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