Betting Exchanges – Compare The Best Sites In UK 2023
Betting exchanges offer the same opportunities to bet as a bookmaker with a few differences; customers can buy and sell the outcome at betting exchange sites, and they can trade in real-time throughout the event. We take a look exactly at operators offering exchanges with efficient bet odds such as Betfair exchange, Smarkets, and other exchange betting websites. Read More
Best Betting Exchange Sites for Backing & Laying in 2023
Rating
Rating
Rating
Rating
What is a betting exchange and how do they work?
A betting exchange is not actually a bookie, it is a matchmaking service that matches bets from backers and layers. this is great for punters because there is no conflict of interest between you and the company. Traditional bookmakers want you to lose. Betting exchanges take commission rates on bets so it actually works in their favour if you win as you bet more.
A betting exchange, also known as sports betting exchanges, is an online market for online customers to place bets on the result of specific events. Like a traditional bookmaker, exchanges offer similar opportunities to bet like a professional sportsbook but with some differences.
Unlike a regular bookmaker, betting exchanges do not go about setting their own odds, instead they allow for peer-to-peer betting to happen. This means that the odds are decided by other users and not the betting exchange, meaning that there are a wider variety of odds available.
When you are placing a bet you will be doing it against another individual or a market maker, which means that your odds when you place a bet on a betting exchange will be better than with a normal bookie. They basically operate like a stock exchange showing orders (or bets) of gamblers that are either positive or negative about an event. In fact, you can even make use of betting exchanges to bet on the financial market or exchange market.
How do sports betting exchanges work?
Betting exchanges operate by offering a platform that combines bettors. The exchange then charges a premium on net market profits only – depending on traders charge a branch-low 2% commission or some of them 0% commission.
You have the right to return to and determine the result when you bet on an exchange. This offers a degree of versatility that a bookmaker cannot do.
A wager exchange operates by matching wager with different views of the probability of a result and allowing them both the stakes and the odds to agree so that they can bet money without the bookmaker being required.
If you haven’t joined the best betting exchange, you are missing out on a lot of fun. It is an exciting and profitable activity that allows you to place your bets and win money. You may even make some money if you choose to use your skills to help handicap a particular team or bet on a sporting event.
These offer by far the best odds around because you are not actually betting against the bookie. You are betting against other players. You can also bet on something not happening, so if you think the favourite doesn’t stand a chance of winning you can “lay bet” them. Let’s look at Brazil as an example here. They are currently 4.2 on Betfair exchange which means if you “Back” them to win with £10 you will win £32 (£10×4.2 = £42 less your stake of £10 = £32). But, if you think they will lose, you don’t need to bet on every other team, you just “Lay bet” them. You essentially become the bookie and accept a £10 bet at 4.2 from someone else. What this means is that if you “Lay bet” them for £10 to win and they do not you get the £10 someone else staked on the bet. However, as the odds are 4.2 if you lose you end up paying out £42 to the person who bet against you (£32 win liability and the £10 stake). So you stand to make £10 but lose £32.
The key to winning with betting exchanges is finding the best odds. For example you might also learn how to join on different online betting promotions, so on that section of the site our top list will display you the best odds
There are three main betting exchanges which we have listed below. Each of them offers a welcome bonus amount once you have deposited funds. It is always worth opening accounts with all three and funding will a token amount of £50 to get the welcome bonus. The betting exchanges give new customers extra money to bet with as part of their strategy to increase business as they assume you will come back for more after your initial bet. This is fair enough and a good way to increase your betting budget.
-
- Betfair – the biggest and best – Claim your £10 welcome bet here
- Smarkets – the new kid on the block – Claim your free £20 World Cup special bet here
- BetDaq – a well-established player based in Ireland – Claim your £25 no-lose bet here
- Betting and winning on losers
The best thing about betting exchanges (even more so than the better odds) is that you can bet against a losing outcome. This could be a horse not winning or a football match not scoring enough goals. You do this by laying bets on the best betting exchange, which means you are essentially acting as the bookie accepting bets from people.
- Regulation and financial security
Of course, you can’t lay bets as a bookie as you need to be regulated, but through a betting exchange, it is structured as a lay bet so you can win from losing. The major betting exchanges are all regulated by the relevant gambling commission rates and have strong financial backing. You should never place or lay bets on an exchange that is not regulated or financially backed.
- Range of markets and specialty bets
Online betting exchanges offer some of the broadest ranges of markets to bet on. It’s possible to bet on pretty much anything there is a market for from the major sporting events to reality TV.
Betting on non-traditional markets is only possible if there is significant demand from market makers and those prepared to lay bets. The exchange takes no risk on the best, so can provide the platform to match interests.
Betting Exchanges Compared by Commission Rates
The table below the UK betting exchanges’ lowest commission rates listed however, each commission rate functions somewhat differently from others.
To help us understand these rates more thoroughly before we decide to open a new betting exchange account and who, in the next sections we give more detailed explanations about betting exchange commission rates.
| Betting Exchange Sites | Basic Commission Rates | Paid |
|---|---|---|
|
Smarkets |
2% |
Based On Wins |
|
BetDaq |
2% |
Based On Wins |
|
Betfair |
5% |
Based On Wins |
Liquidity on Betting Exchange Markets
Betting exchanges are also praised for offering better rates than conventional online sportsbooks.
Furthermore, if the opportunity at a higher price is not available then this is a false scenario and the sportsbook is the safest place to make the bet.
Choosing the Nations League Semi-Final between the Netherlands and England as an example and looking explicitly at the price to bet on the Netherlands we consider the following price comparison and liquidity comparison results.
| Bet Exchange | Back Price | Back Liquidity | Lay Liquidity | Lay price |
|---|---|---|---|---|
|
Betfair |
3 |
£2187 |
£1427 |
3.05 |
|
Smarkets |
3 |
£1908 |
£5433 |
3.05 |
|
BetDaq |
2.98 |
£796 |
£118 |
3.05 |
|
BetVictor |
2.80 |
|
|
|
Multiple Bets and Best Online Odds
The top betting exchanges in the UK have very good liquidity and odds on straight bets, and the bigger ones have well-placed and outside bet categories. However, if you are looking for multiple bets this is not really possible as finding a market maker or layer that is prepared to offer such long odds will be rare. For multiple bets, you are better off going with a traditional fixed odds bookmaker. For normal to win or place betting, betting exchanges still offer the best odds around.
In-play and live betting
If you compare betting exchanges to stock exchanges you can see why live and in-play betting is so popular. The odds most change with demand based on what is happening at the underlying event. They are a very good indicator of what is actually happening in the exchange market because it is driven by crown consensus rather than firm odds.
As placing a bet is so fast on the exchange you can bet during a race or in the last few minutes of a football match. This also means you can use betting exchanges to hedge other bets, take betting profits early to shut down a losing bet before it gets any worse.
Risks and rewards
It is clear that the rewards of betting with the best betting exchanges can be better than with traditional bookies. But punters should be aware that there are considerable risks to laying bets on exchanges.
If you lay a bet and the odds are long you can potentially lose many many times more than the stake. Always ensure you fully understand the risks involved with laying bets as they can be large.
Free Bets on the Betting Market
Betting Exchanges are wonderful things. They add a competitive edge to gambling that you just don’t get with traditional bookies. The best betting exchanges have fantastic liquidity on all the major and most of the minor markets that enable you to bet against other gamblers, not the house. The house takes a commission on winnings so the odds are always better. Because betting exchanges don’t make more money when you lose the welcome offers are not as good as fixed-odds betting sites, but they still have some good incentives for new players to open an account.
MatchBook – Free £50 cashback when you join.
Founded in 2008 Matchbook is one of the fastest-growing betting exchanges. Because of its more international approach, there is often better liquidity on major events. Customers can also bet in the majority of major currencies including USD. Read Matchbook betting exchange reviews.
Get started with Matchbook here
Betfair Exchange – Free £10 bet when you sign up.
The best overall gambling website by far. In all aspects and games. I have always loved Betfair’s customer service and they treat customers more like clients. Some of the best functionality and range of markets too. Get £10 Betfair exchanges welcome offer when you sign up and deposit funds into a new account, t cs apply. Read Betfair betting exchange reviews.
Smarkets – Free £10 bet for new players
These guys offer slightly lower commission rates to Betfair exchange, currently, 2% so are worth a look. Major markets provide pretty decent liquidity so a good place for casual gamblers to try a bit of arbitrage. The Smarkets free £10 welcome offer is a good way to test the platform, t cs apply. Which is probably the most user-friendly of all through exchanges. Read Smarkets betting exchange reviews.
Get started with Smarkets here
Betdaq – £25 no lose a bet
One of the original exchanges and because the customer base isn’t as large as Betfair they offer a pretty decent welcome offer to entice new players. Once you have deposited some funds you get a £25 BetDaq welcome offer no-lose bet and some pretty decent odds and markets. On the majority of its exchange platform’s offered sports, Betdaq commission is now 0% on all winning bets.
Complete List of Betting Exchanges
Yes, but it’s not very long, there are only five. Smarkets, Betfair, BetDaq, Matchbook, and Ladbrokes betting exchange. These betting exchange sites all have varying commission rates applied to winnings and differing extra features. Smarkets for example are tied for the lowest commissions applied while also allowing for spread betting on their platform and has the widest list of countries accepted of all these UK Betting Exchanges.
| Betting Exchange | Free Bets | Get up to | 0% Commission | Website |
|---|---|---|---|---|
|
Spreadex |
✔️ |
£25 |
❌ |
|
|
Smarkets |
✔️ |
£10 |
❌ |
|
|
Betfair |
✔️ |
£10 |
✔️ |
|
|
Matchbook |
✔️ |
£10 |
✔️ |
|
|
Betdaq |
✔️ |
£10 |
✔️ |
|
|
Ladbrokes |
✔️ |
£20 |
❌ |
What are the best betting exchanges in the UK?
The best betting exchanges in the UK depend on what sort of sports trader you are or if you are a matched bettor. Betfair is the most established betting exchange, followed by Betdaq, with Smarkets and Matchbook nipping at their heals by the increase in matched bettors looking to lay off bets. Both exchanges are improving in terms of liquidity and exchange markets on offer.
1. Smarkets — Low Commission
Smarkets was established in 2008 and is the newest exchange of wagering on sports. They made it known their intentions — they intend to take Betfair on. Smarkets hit £ 500 m lifetime trades in April 2014 — but it took less than a year to double that, making the £ 1bn trades in March 2015 come true. Their commission of 2 percent is very competitive and certainly gives an advantage over Betfair, the industry leader.
Get Started with Smarkets here
2. Betfair — The Industry Leader
Betfair is the most popular and largest exchange of bets. It was formed in 2000 and operates under a license from Gibraltar. As of 2 February 2016, the company has been listed as “Paddy Power Betfair” on the London Stock Exchange market because of the merger between the two companies.
3. Matchbook — Super Low Commission
Matchbook was founded in 2004 but only really grew in popularity after a group of investors acquired it in 2011. Their aim was to increase the liquidity to compete with Betfair in their existing markets. The commission rate is small if you approve an existing bid in a sector, at just 1.5 percent, and 0.75 percent if you post a bid. This is awesome. Matchbook claims to have “the biggest amount of assets available in US sports” It covers NFL, NBA, NHL, and MLB.
Get started with Matchbook here
4. BetDaq — 2nd Largest Betting Exchange
Betdaq was established in 2000 and acquired in February 2013 by Ladbrokes. Betdaq had only about a 7 percent share of the betting market in the UK and Ireland when Ladbrokes took over. At the time she was Betfair’s biggest rival. In most markets a sufficient amount of liquidity. It is considered the 2nd largest exchange of bets, behind Betfair. This is the only remaining betting platform with a public API. So Betfair’s a perfect alternative platform for creating bots and games. Unlike Betfair’s main rival, Betdaq doesn’t charge their highest-earning traders a Premium fee. The Betdaq commission has introduced a 0% commission on the majority of its offered sports on its exchange market.
5. Ladbrokes — Great Commission
It is interesting to note that Ladbrokes has been around for over a century. It began in 1886 with commissions at Ladbroke Hall for trained horses. A few years later, Ladbrokes moved to London where his gambling headquarters was built, enabling us to enjoy his internationally renowned gambling operations. Newly enrolled consumers are getting £20 in free bets and a £5 stake in sports. The £20 bonus amount will be split into four £5 tranches so you can use them instantly. You’ll have 7 days to make use of the free bets.
What to Pay Attention to When Choosing a Betting Exchange?
The betting exchanges we mentioned in this article are all great, so it all comes down to your personal preferences. However, there are some things that you should pay attention to before making your final selection. That’s why we decided to cover some of them and help you with your choice. Let’s take a look at what makes the best betting exchange.
1. Welcome Bonuses
Welcome bonuses come in all shapes and sizes on online gambling platforms. Those who decide to sign up for a betting exchange will usually get a free bet bonus just for signing up on the platform. These are usually called no deposit welcome bonuses as you’re not required to make any deposits to trigger the promotion — just register and confirm your account.
One important thing to take into account is that every betting exchange has a welcome bonus. They mainly exist to attract new players to the platform and give them a head start for making their first bet. All in all, welcome bonuses of all kinds are great, as it’s always a great feeling to receive a gift as a new user.
2. Terms and Conditions for Bonuses
If you don’t have prior experience in claiming welcome bonuses, we suggest you read the terms and conditions for the gift you’re about to receive. Some rewards have rules that you should understand to get the best possible user experience once you sign up on the best betting exchange.
3. Additional Promotions
Many betting exchanges don’t leave their users without additional bonuses once they spend their welcome bonus. What’s more, every site has a section where regular users can check out for new promotions. These can be virtually anything, but there are several types of regular promos that stand out from the crowd.
4. Payment Methods
To make real-money bets, you need to make a real-money deposit, and that’s possible by using an adequate payment method. The good news is that many of these exchanges accept all the popular payment options in the UK, meaning you can make a deposit or request a withdrawal using options such as credit cards, bank transfers, e-wallets, and more.
The most common payment method is a credit card as it is widely regarded as the fastest and the most affordable one. However, many punters also enjoy using e-wallets such as Neteller, Skrill, PayPal, ClickandBuy, and more. Before you open an account on a betting exchange site of your choice, make sure to check whether it supports the payment method you use.
5. Customer Support
Customer support plays an essential role in many online gambling platforms, and betting exchanges are no exception to the rule. These sites can be confusing, especially to newcomers, who usually require assistance once they open an account. One of the most common ways you can contact customer support nowadays is by using the live chat feature, which is present on the majority of betting exchange sites.
6. Mobile Betting Exchanges
The entire world is going mobile, and online betting exchanges are no exception to this rule. An increasing number of players nowadays prefer placing bets by using their mobile devices rather than using desktop or laptop computers. That’s why many betting exchanges and other similar gambling platforms decided to step up their game and make mobile betting available.
Betting Exchanges vs. Sportsbooks
In this report, we will report on what betting exchanges are, how they compare to online sportsbooks, and how you can increase your chances with your selection. A betting exchange is an online service that covers betting on a variety of sports such as football, basketball, tennis, golf, poker, and other sports.
It is companies that allow betting providers to exchange odds and bet against each other, rather than betting against bets on the sports system. While sportsbooks are focused on fixed-odds betting, betting exchanges offer a fluid marketplace where customers can play against others. The best betting exchange offers better odds than a sportsbook, but higher odds on a stock exchange have better odds, while a small commission rate on a betting exchange is charged for winning a bet.
When you bet on traditional sportsbooks, the book’s oddsmakers try to get the public to bet 50/50 on both sides of the market. If they cannot, they will be leading the line to build a lead to win, not the other way around.
Unlike traditional bets on sports, where players are only allowed to place bets, betting exchanges are places where betting providers can not only place bets but also accept bets from other players. In short, a betting exchange is a peer-to-peer betting network, but it differs from a betting network in that it is a stock exchange set up to facilitate transactions.
Best Betting Exchanges FAQs
Are Betting Exchanges available in other countries?
The simple answer is yes - you can now access betting exchanges in Germany, India, and many more countries. But be sure to check the team and conditions when searching for your desired country.
What are the best betting exchange sites for customers residing in the United Kingdom?
-
The best betting exchanges are decided by whether you are a sports trader or a matched bettor. Betfair is the most well-known betting exchange, followed by Betdaq, with Smarkets and Matchbook hot on their heels as matched bettors seek to lay off bets. In terms of liquidity and exchange markets open, both exchanges are improving.
How betting exchange works?
These offer by far the best odds around because you are not actually betting against the bookie. You are betting against other players. You can also bet on something not happening, so if you think the favourite doesn’t stand a chance of winning you can “Lay” them.
What is a betting exchange site?
Betting exchange site is a marketplace for customers to bet on the outcome of discrete events and have much better odds than traditional fixed odds bookies.
What are the betting exchanges in horse racing?
Betting exchanges offer the opportunity for anyone to both back and lay bet. By way of example, if someone thinks Team A can win a contest, he may wish to back that choice. Even a bookmaker offering the punter that bet will be putting that choice. Both parties will agree on the backers stake and the odds.The place just markets in horse racing are also an excellent approach to oppose or back a horse. You no longer need to choose your horse and decide whether it back to win or each way. You can now back it place only, or even place a horse you do not fancy for a location. Before exchanges came about if you did not fancy a horse the only way to oppose him was to attempt to choose among the additional horses to win.
Conclusion: Choose Your Betting Exchange Wisely
As you can see, there are many factors to take into account when choosing an online gambling platform — especially online betting exchanges. There are many options out there, and we included some of the best ones on this page.
What matters the most is that all these platforms are licensed and regulated by an official regulatory body, meaning you don’t have to worry about illegal operations and scams. All sites featured on this page are safe and secure, protecting you and your funds with cutting-edge technologies.
After you make sure that the site is safe, it’s time to pay attention to the overall quality of the offer, number of users, liquidity, and more. We took all these things into account when creating this article and the list in it so that you can enjoy the best betting exchange options.
Perhaps one of the most important aspects to cover is bonuses and promotions that are offered to new and regular users. You can rest assured that all sites on this page offer some of the best bonuses in the industry that are bound to give you a head start.
Therefore, feel free to make your final choice and start your online betting exchange journey by depositing money and making your first bet. Once you get into the swing of things, you’ll understand why many punters prefer placing bets this way.
Home »
