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Betting Exchanges Canada

Even though standard sportsbooks still hold the lead in terms of popularity among sports bettors, betting exchanges are slowly reaching out to punters in Canada. Some regular players even claim that betting exchanges offer better odds and overall betting terms than classic bookies.

If this is the first time you hear about betting exchanges, you’ve come to the right place. In the text below, you will find all about betting exchanges in Canada, the way they work, and how to use them for the best results. On top of that, we will provide you with a list of the best sports betting exchanges in which Canadians can try their luck and test their knowledge about sports. Stay tuned!

Top Canadian Betting Exchanges

Betting exchanges are known to offer much better odds than the fixed ones you get from your standard betting sites. Although there’s still not a lot of them, we’ve managed to find enough top-notch betting exchanges in which you can win a significant amount of money. They are all incorporated into our top list you can find in the table below. Feel free to take your pick!

BetVictor Review
$300 Matched Bet Welcome Bonus
Opt-in & place any sports bet at odds of evens (2.00) or greater & get a matched Free Bet up to $300. Expires within 7 days. T&Cs. 19+
New Users Only. Opt-in and the next deposit you make is matched extra $75 in bonus. Matchbets supports responsible gambling. Gambling for persons 18 years and older.
Spin Sports Sportsbook Review
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Smarkets Review
Sign up Now to Get a Free $10 Bet
You must deposit at least the qualifying deposit of $20 (or currency equivalent) in a single amount with your first deposit to be eligible for the rebate.
50% Match Bonus Up To $1,000
The bonus terms are in addition to the general terms and conditions of A player receives only a profit of the wager from a free bet. For example, you place a $10 free bet for the odds of 1.75. In the case of winning, you get only a profit of $7.5 ($17.5 minus a free bet amount). If you lose the wager, you lose a free bet.
betfair review
0% Commission Up To $500 on the Exchange
Applies to Betfair Exchange bets & any commission paid within the first 30 days. Refunds occur every Wednesday based upon the activity carried out during the 7 days prior. Only deposits made using Cards/Paypal will qualify. 2% rate will apply after the promotional period & is offered through the Betfair Rewards Basic package.
matchbook review
$10 Refund If Your First Bet Loses
These specific promotional terms and conditions apply to this promotion, “New Customers Offer – Money Back If Your First Bet Loses” and should be read alongside our Standard Promotional Terms and Conditions .
Betdaq review
Bet $10 & Get $10 Free Bet
New customers only. Certain countries only. API/RDT customers excluded. Min $10 Sportsbook/Exchange bet at odds 2.0 or greater within 14 days of acc reg. Free bet valid on exchange for 7 days. Stake not returned. No cashout. The free bet will be credited within 72 hours to your account once the staking requirement has been met. T&Cs apply.
Neobet review
Welcome Bonus Up To $200
After logging in, you will notice a Bonus button in the account dashboard. This is where you will find any special promotions and bonuses that offers.
Make deposit minimum, 18+ T&C apply | Play Responsibly.
Karamba Sports
$3000 CASH PRIZES GTD GET $10 – BET $20
New depositing sport players only. The offer only applies to players who are residents of the United Kingdom. Min deposit $10, minimum wagering on sport $20, req qualifying bets at min odds at 1/1, offers valid for 14 days; max one $10 free bet per customer, paid as bonus token with min odds 4/5 req. Tournaments run every Friday at 00:00 CET until Thursday 23:59 CET. Tournament Timeout Limit: 35. Stake contribution per bet: $1. Minimum odds: 3/10. Minimum bets in tournament to be eligible for reward: $10. 1st Place Prize: $1000. Prizes granted up to 48h after tournament ends. Free Bet does not contribute towards leaderboard. Play Responsibly. T&Cs apply.
Bonus 125% Up To €150 +100FS
All bonus offers are strictly limited to one per person, All the players can take advantage of the bonuses.

What to Look for in a Top Betting Exchange

Since we know that players can be rightfully doubtful when it comes to our betting exchange selection process, we have decided to share with you all the boxes a betting exchange has to tick in order to deserve a spot on our list.

Betting Exchanges Canada

Promotions/Bonuses/Free Bets

Bonuses and promotions are the first things players look into on every betting site, and betting exchanges are no different. To attract players and make them stick to their site, betting exchanges offer various bonuses that mostly take the form of free bets up to a certain amount, risk-free bonuses, and more. When we select the betting exchanges for our Canadian friends, it goes without saying that bonuses and promotions must be on the topmost level.


Betting exchanges work a bit differently from regular betting sites. They let you and another bettor agree on the odds and take a commission fee based on the bet you make regardless of the winner. Naturally, some exchanges have lower fees than others, which is exactly what we check before we decide to recommend them to our Canadian readers. On our list, you will find exchanges with the lowest fees on the web, as well as exchanges that go commission-free as part of a particular promotion or loyalty program.

Payment Methods

Canadian betting exchanges offer a variety of payment methods that can be used for both deposits and withdrawals. There are standard options like all major credit and debit cards, together with more and more popular e-wallets available for the Canadian market. Ultimately, Canadians can make payments using cryptocurrencies, local prepaid cards, or bank transfer if that’s what they opt for.

User Experience

Betting exchanges do work differently compared to sports betting sites, but they are designed to be absolutely hassle-free when it comes to usability. Once you decide what match you would like to bet on, you have two options — either offer odds or find someone who has already done it. This is as easy as it sounds and shouldn’t be a problem once you’ve spent five minutes getting yourself acquainted with the site. Players who’ve tried betting exchanges often say that these sites are even easier to use than classic bookies.

Betting Exchange App

To make your betting experience available on the go, many betting exchanges in Canada launched a mobile app you can download and access the site in seconds. You won’t have to miss opportunities to place bets as long as you have your phone or tablet and an internet connection. However, bear in mind that not all betting exchanges have a designated app. Nevertheless, you will still be able to access the site via your smartphone simply by opening it in your web browser.

Sports Betting Exchanges Canada

The diverse world of online sports betting offers numerous possibilities, and while rookies stick with one or two betting markets they are familiar with, experienced punters like to experiment and try new options. According to some recent statistics, the demand for betting exchanges in Canada is higher than ever. More and more players are beginning to realize the potential of this betting type, and are trying to take advantage of all the benefits it offers.

If you’re a beginner, this review is a great chance to learn everything you should know about betting exchanges and how they work. Our detailed guide on laying and backing will help you understand all the aspects of this betting market and determine what approach suits you the best. We also took the time to analyze the current situation on the sports betting market in Canada, and select the most reliable betting exchange sites. In other words, all the crucial information every serious punter in Canada should know lies in front of you. So take a look!

Sports Betting Exchanges — the Sports

One of the best things about sports betting exchanges is that they are compatible with almost every major sport. Canadian punters like them primarily because these exchanges give them the absolute freedom to manipulate their money. Being completely free to bargain for the odds with other players makes it possible to win big profits you could only dream of with traditional bookmakers. Betting exchange sites don’t impose any unreasonable requirements, and your success depends only on your skills and experience.

What’s even better, they often reward new players with different bonuses and promotions. All beginners can count on a generous welcome bonus on a great majority of betting platforms these days. Also, many betting exchange sites offer first deposit match bonuses, and they are a great way to start your betting adventure on a high note. Regular players who like to stick with the same site for a while can claim all sorts of free bets throughout the week. In other words, exchanges are the best betting option on the market!

Backing and Laying of American Football

Measured by the number of spectators, American Football is, without any doubt, the most popular sport in North America. Millions of fans across the continent gather every weekend in front of their TVs to support their favourite teams. In Canada, things are pretty much the same. And, since they have so many good betting sites at their disposal, Canadians don’t hesitate to place a bet whenever they feel the outcome is predictable. Exchange betting allows them to bet on one of the teams, or against it. The same is possible when trying to predict a draw.

Backing on Football

If you place a back bet on something, that means you’re expecting it to happen. So let’s say a match between the Buffalo Bills and New England Patriots is happening tomorrow. As a long-time American football fan, you know that the Bills are very efficient at home, and you expect them to win. You’ll place your C$10 bet accordingly, and hope for the best. If the Bills win the match, you’ll win your bet and earn C$10 times the odds. The result itself doesn’t matter as long as the Bills are the winners.

Laying a Bet on Football

Now, let’s change our perspective a little bit and suppose you’ve got a feeling the Bills are going to lose this game. Since this might be quite a surprise, you should be able to get good odds. If you place a lay bet on the Bills, that would mean you’re predicting their defeat. If your prediction turns out to be true, you will earn your stake multiplied by the odds. In most cases, experienced punters opt for lay betting when not satisfied with the odds they can get for a back bet.

Backing and Laying on Ice Hockey

When they hear Ice Hockey, most people think of strong men and cold countries in the north. And, no wonder! Some of the best players of this fast and rough game on the ice come from countries like Canada, Sweden, Russia, and the US. Being the national winter sport of Canada, people in this country don’t only watch and play it, but they also regularly bet on it. Most betting exchange sites give you the option to wager on the outcome of ice hockey matches in professional leagues throughout the world.

Backing on Ice Hockey

Placing a back bet on an ice hockey team is very simple. It’s a straightforward wager that will bring you profit only if your chosen team wins. Let’s say a match between the Toronto Blueshirts and the Montreal Wanderers is scheduled for tomorrow. After considering all the important factors, you decide to back the home team. If, after regulation time, the Toronto Blueshirts win the match, you’ll have a good reason to celebrate. Your stake, multiplied by the odds, will equal the amount of C$ you just won.

Laying a Bet on Ice Hockey

On the contrary, if your feeling tells you that the Toronto Blueshirts are very likely to lose, you can place a lay bet on them. In other words, you can bet against the home team. And, like before, all you want to know is who will be the winner of the match. If the home team is defeated within the regulation time, regardless of the goal difference, you will win your bet. If your stake was C$20, and the odds were 3.07, you’ll score a total of C$61.4. Laying a bet can be especially lucrative when you’re trying to predict a surprise.

Backing and Laying on Horse Racing

Without any doubt, horse racing is one of the oldest sports on the planet. It’s been around since prehistory, survived the test of time, and the fact that people still love it says a lot about its quality. By all parameters, horse racing is one of the most lucrative Canadian sports. And, since it’s perfectly appropriate for exchange betting, Canadian punters approach it with utmost seriousness. Many analyze racing statistics in great detail, keep track of all the crucial information, and read what’s being said in gossip columns. Here’s what it looks like in practice!

Backing on Horse Racing

Those familiar with the world of horse racing know that a single, seemingly insignificant detail, can decide the whole race. Consequently, such details can make a difference between a painful loss and a profitable win. Punters who do their research and don’t have any doubts about the outcome will place a back bet on the most promising horse. A straightforward bet on a single horse can bring huge profits. If you’re lucky enough to predict such an event, you’ll claim the most lucrative prize possible.

Of course, guessing the winning horse is among the most difficult bets, and it takes weeks of dedicated analysis and years of experience to succeed. However, since most sports betting sites offer amazing odds for such bets, it won’t hurt you to try.

Laying a Bet on Horse Racing

Another great option every betting exchange site will offer you is to lay a bet against a horse. Lay bets are increasingly popular in online betting, and when it comes to wagering on horse racing, they are commonplace. Statistics say that players are more likely to bet against a horse than to bet on it. That’s simply because their chances of winning are much higher and, as long as the horse in question doesn’t win the race, they’ll score some money. If you want to play it safe, this is the best choice you can make.

In-Running Betting on Horse Racing

Being probably the most exotic option when it comes to betting on popular sports, in-running betting is for those who like the adrenaline rush of real-time wagering. Players love it because it’s unprecedentedly dynamic, and if they react at the right moment, anything is possible. Even if you’re witnessing a once-in-a-lifetime surprise, you’ll have enough space to defend your bet. These are the most common choices punters make:

  • Back to Lay Bets — In case you placed a valuable back bet on a horse that was the favourite, but things unexpectedly took a turn for the worse, you still have options. You can lay a bet on that same horse during the race, and get most of your money back. Of course, the sooner you do this the better. If you wait for too long, the odds might become too low.
  • Lay to Back Bets — Let’s say you picked one of the underdogs and placed a lay bet on it. If that horse ends up leading the race at some moment, there’s no need for desperation. You can back a bet on it, and recover most of your money. What’s even better, if you back it on time, you might win more than you lost.
  • In-Running Back Bets — If you’re not satisfied with the odds, or want to see what happens at the beginning of the race, in-running back bets are the best choice you can make. Once you see the way horses behave during the first part of the race, you can make a more accurate prediction, and the odds might go up.
  • In-Running Lay Bets — If one of the favourites is struggling at the beginning of a race, you can use the time window to bet against it while the odds are still high. In-running lay bets are perfect when champions are underperforming against all expectations. Many call them the risk-free bets.

Backing and Laying on Soccer

Since we all know that people play soccer in every country on the planet, there’s no need to emphasize the popularity of this uniquely exciting sport. However, the rapid expansion of online exchanges is making it more wanted than ever, and the world of sports betting simply wouldn’t be the same without it. Soccer fans highly appreciate the fact that, instead of being limited by average bookmakers, they’re finally allowed to offer and ask for odds whenever they please. Let’s see how it all works!

Backing on Soccer

If you feel lucky and want to guess the winner of the following soccer match, the best thing to do is place a back bet on it. One of the most interesting Premier League matches this season is going to be the one between Liverpool and Tottenham. Let’s say you decide to back the home team, your stake is C$10, and the odds on Liverpool are 2.22. If the Reds win, even by a single goal, you’ll win your bet and earn C$22.2. However, in case of any other outcome, you will lose your bet.

Laying a Bet on Soccer

On the other hand, if you expect Tottenham’s surprising away win against the current champion, you can lay a bet on Liverpool. In such a scenario, you will win your bet only if the Reds are defeated. Once again, the goal difference is irrelevant, as long the Spurs are the winners. Every time you think the odds offered for a back bet are too low, consider laying a bet against the opposite team. With betting exchanges, you always have more than one option to choose from.

The Advantages of Using a Betting Exchange

Unlike the old-fashioned bookmakers, betting exchanges don’t limit your options in any way. You may place a bet on a team, or against it while negotiating the odds. Depending on the sporting event, you may also try to recover a losing wager by placing a lay bet on the same team. If you take advantage of all the betting options you have, only the sky’s the limit. To better understand what makes exchanges the best betting option in the entire online betting industry, let’s examine some other equally important advantages it offers.

Higher Odds and Lower Commission Rates

Free from any restrictions imposed by the bookies, betting exchanges allow you to decide your destiny. Instead of fixed-odds that used to be your only option, you can now negotiate with your fellow punters. Instead of the ridiculously high 30% margin, you’ll now pay a much fairer commission rate. Consequently, your profits will go up, and you’ll realize how big the difference is, as soon as you win your first exchange. Since it all depends on your skill, with betting exchanges, every sporting event is a new chance to win big.

Combining Wagers

With traditional bookmakers, you can only bet on the winner of a match. Betting exchanges, on the other hand, make it possible to bet against a participating team. You can switch sides and act as a bookmaker whenever you find it appropriate. In the world of sports betting sites, it hardly gets any better than that.


Most betting exchanges offer a wide range of generous promotions. As soon as you make your first deposit, you can count on a lucrative bonus. If you’re a regular player, you will be rewarded with a free bet every time you play it big. Of course, all sports betting sites have their terms and conditions, so make sure you read all the rules before you start playing. The online betting industry in Canada is highly regulated, and everything happens according to the current laws and regulations.

Safety at All Times

While other Canadian sports betting sites are somewhere around the world’s average when it comes to security, betting exchanges satisfy the highest safety requirements of the online betting industry. They implement the most reliable encryption technologies and protection algorithms and guarantee the safety of every punter’s personal information under all circumstances. Without proper authorization, no one will be able to access them.

On top of that, they’re all authorized by some of the most prominent regulatory bodies, and stick with the current gambling laws. They create all their content, and ‘all rights reserved’ means no one is allowed to copy it without their permission.

Reliable Customer Support Agents

Every good online betting site has to provide reliable customer support. Whether you wonder when a sporting event will begin, what the wagering requirements are, or how to claim a free bet, they should make sure you get the correct answer. And, that’s exactly what they do. Every betting exchange site in Canada has a group of well-trained and eager-to-help customer support agents. They’ll do their best to assist you with whatever problem you might encounter during your betting adventure.

How to Use Betting Exchanges

All this talk of betting exchanges can sound confusing if you have never had contact with one before. Don’t worry, as we’ve thought about you as well and decided to take you through the full process of the way betting exchanges work and how you can use them. Without further ado, let’s get down to business.

How Betting Exchanges Work

A gambling exchange is different from a standard betting site because the operator has nothing to do with creating the odds. The platform simply serves as a matchmaking service that helps two bettors connect and make a deal about a specific bet they would like to place.

The exchanges operate based on a commission fee they take from the stakes, meaning that they don’t care whether you win or lose. You are placing a bet against another player and have nothing to do with the betting exchange when it comes to odds. In other words, a betting exchange is something like a stock exchange for sports betting.

There are two punters involved in the betting process — the one trying to guess a match outcome and place a bet is said to be backing the bet. The other player is then playing a bet opposite from the first player which is called laying a bet.

In simple terms, the player who is backing a bet claims that something will happen, while the player laying that bet hopes that the same outcome won’t happen. After they both agree on the odds and stakes, the bet is sealed and approved by the exchange.

In standard sportsbooks, you don’t have the option to do this as the bookies create their own odds that you might like or not like, but you can’t affect them in any way. For this reason, betting exchanges have become more popular, as players nowadays prefer dictating the odds rather than following the ones made by the bookies.

What kinds of sports are available

Every good betting exchange should cover a variety of betting markets, ranging from international competitions to the local ones. Betting exchanges on our list focus on Canadian players which is why they offer all the sports popular in this country.

We won’t even mention sports like football, basketball, or tennis, as these are a must when it comes to every betting exchange in the world. Along with these ultra-popular sports, betting exchanges we recommend have to offer sports like ice hockey and lacrosse, as these are the main pastimes of Canadian sports bettors.

Other betting markets widely popular among Canadians like UFC and CFL can be found in a majority of these exchanges, together with eSports that have recently become the main point of interest among the younger population.

What kinds of bets are available (eg winners/first man out/first team to score, etc)

As we explained above, placing bets in betting exchanges is a piece of cake and is based on two main actions — backing and laying the bet. However, you can apply the principle to various different situations of your choice.

The basic way to place a bet in betting exchanges is to choose the winning team. For example, you are backing Real Madrid to beat Barcelona in the Champions League, while another person claims that such an outcome won’t happen.

Then, you can choose to place a bet on the first team to score a goal, the first yellow or red card, the first man out of the match, and so on. Basically, you can bet on whatever you like in betting exchanges since you don’t have to wait for anyone to offer you the odds. You create them yourself, and you, at the same time, create the bet itself.

What Are The Best Betting Exchanges In Canada

Just like you wouldn’t trust the first bookie you come across, you should also pay attention when choosing a betting exchange. However, now that you have landed on this page, you have nothing to worry about, as our team has done the research for you and selected the best betting exchanges where you can demonstrate your sports knowledge.

To help you even further with making a choice regarding the right betting exchange, we are offering a short preview of the most popular ones available on the market:

  • Betfair — This is one of the biggest and most renowned betting exchanges worldwide. It offers a variety of betting markets and accepts bets of different kinds. Apart from the betting exchange, Betfair provides a standard sportsbook, as well as other forms of online gaming.
  • BetDaq — BetDaq is not as big of a platform as Betfair, which is actually a good thing, as, in order to attract bettors, the exchange offers amazing welcome bonuses and other promotions. You will be able to take advantage of a No Lose bet up to a significant amount on the numerous betting markets.
  • MatchBook — As one of the exchanges that have been focusing on all the major events, MatchBook offers great odds for international competitions as well as the possibility to deposit and withdraw money in many different currencies.
  • Smarkets — Coming late to the market has its advantages, and Smarkets used the situation to lower the commission fees and attract players that way.

If you are just about to start your career in betting exchanges, the best way to choose the platform is to give all of them a try. You can create free accounts and take advantage of their welcome bonuses. After you test all the operators, you will form an opinion about all of them and have a clear picture of the one that’s your perfect match.

Betting Exchanges Canada – The Final Word

Betting exchanges have become more popular in Canada the moment people realized they don’t have to follow the odds set by bookmakers anymore. Once you try a betting exchange for the first time and see how easy it is to find the exact odds you are looking for, you probably won’t settle for less anymore.

These betting platforms allow you to form a bet just the way you like it and get the same or even better terms than the ones in the standard sportsbooks. All the key aspects will be there, starting from welcome bonuses and promotions, available payment options, and the diversity of betting markets. Check out our list of the best betting exchanges and create the bet of your dreams!

Betting Exchanges Canada FAQs

Are these Canadian betting exchanges safe and secure?

Of course! We highly value the safety and security of our readers, which is why we only recommend online betting exchanges that hold licenses from trustworthy governing bodies. Also, the sites on our list have to keep players’ data and transactions safe at all times by using cutting-edge protective measures like SSL encryption, firewalls, and others.

Are there bonuses and promotions in Canadian betting exchanges?

Absolutely! All online betting exchanges from our list offer welcome bonuses and other promotions for new players upon creating an account, and also regularly come up with promotional surprises for regular players.

What are my chances of winning real money in Canadian betting exchanges?

Your chances of winning real money in Canadian betting exchanges are much higher compared to other online gambling forms. This is because in betting exchanges, you are using your knowledge of the sport in order to win, and not pure luck like in some other games of chance. Moreover, you are the one who creates your preferred wager and selects the odds that seem to be fair, without the platform imposing its rules on you.

Can I bet on sports in the Canadian betting exchange via my smartphone or tablet?

Yes, you can. We have listed all the sites that are completely optimized for mobile and tablet use, so you don’t have to worry about your phone’s type and operating system. All the sites can be accessed via either Android, iOS, or Windows phone. On top of that, some of these betting exchanges have designated apps you can download and make the exchange only a click away.

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