It was founded in 1942 as Meistaradeildin, and it is played in current format since 2005, when Premier League replaced 1. deild as the country's top football division.

[1] The league was founded in 1942,[2] although clubs did not take part in European competitions until 1992,[3] because the Faroe Islands Football Association joined UEFA only in 1990.

[5] Since 2005 the league has had different sponsored names, being called Formuladeildin from 2005 to 2008, Vodafonedeildin from 2009 to 2012, Effodeildin from 2012 to 2017, and since 2018 Betri deildin menn.

A draw is made before the elaboration of the next season's fixtures to decide which teams will have an additional home game.

An additional berth in the Europa Conference League first qualifying round is granted to the Faroe Islands Cup winners.