Betting Exchange Sites UK
Exchange betting rose to prominence in the early 2000’s as an alternative to betting with bookmakers. Read More
With an Exchange, players bet against each other rather than with a bookmaker so there is the opportunity to either back a selection at the odds offered by someone else or lay a bet at the odds you specify. The Exchange provides the platform for these transactions to happen and they take a small percentage (usually 2%) from winning bets as a commission.
Best Betting Exchange Sites
The first major Betting Exchange operator was Betfair but over recent years, a number of newer operators such as Matchbook and Smarkets have entered the market. Check out their current sign-up offers below:
EasyBet Exchange
One of the newest players in the exchange betting space is EasyBet, a branch of the Easy group which has many brands but is most synonymous with airline EasyJet. Decked out in the same iconic orange and white colourway, EasyBet use Matchbook's liquidity at the moment and offer its customers some fantastic offers along with a competitive 2% (for UK and Irish customers, 4% for Rest Of World players) commission rate.
EasyBet at this stage have just twelve sports or specials on offer in their odds, but as the site grows expect there to be plenty more added. We are impressed with the intuitive interface of the site and app thus far and the liquidity for such a brand new outfit is impressive. They have certainly hit the ground running.
#AD 18+ Sign up bonus code: EB20. Place 2 separate bets on at least 2 different events to qualify at odds of 2.0 or more. An event is classed as 2 different sporting events (2 separate races/two separate matches). Bets can be placed on singles, multiples and Bet Builders. . Free bets will expire in 7 days. 1 x £5 Free Bet on football markets, 1 x £5 Free Bet on horse racing, 1 x £5 Free Bet on the US Presidential Election, 1 x £5 Free Bet on Multiples. Full T&Cs apply.
Matchbook Betting Exchange
Matchbook strives to offer its customers the best odds and great liquidity whilst also keeping its commission rate at just 2% (for UK and Irish customers, 4% for Rest Of World players). Matchbook excels when it comes to horse racing, football and NFL but offers a good offering across all sports. They are also one of the best betting companies for betting related content with expert tips and podcasts available via their social media channels.
#AD New Customers Only. Sign up using Bonus Code: HR30. Bet and settle £30 (2x £10 Horse Racing Back Bets, 1x £10 Horse racing Multiple) on Horse Racing only, each at odds of 2.0 or more and receive 3x £10 Horse Racing Free Bets once qualified. T's and C's Apply. Be Gamble Aware. .
Betfair Betting Exchange
Betfair is the original and still the biggest betting exchange attracting wagers across all sports and special markets. Betfair have a market-leading platform making for easy betting, trading and cash outs and their liquidity is generally the best in the market. In recent years, the company has perhaps prioritised the Betfair Sportsbook over the Exchange, however it still remains the number 1 exchange for betting. Punters have the opportunity to choose from different reward plans with the ‘Basic’ option including 2% commission on Exchange bets however this does reduce the number of promotions you can receive on the Sportsbook platform.
#AD 18+ Place a min £10 bet on Sportsbook on odds of min EVS (2.0), get £50 in Free Bet Builders, Accumulators or multiples to use on any sport. Rewards valid for 30 days. Only deposits via cards or Apple Pay will qualify. T&Cs apply. Please Gamble Responsibly.
Smarkets Betting Exchange
Smarkets have established themselves as one of the biggest competitors to Betfair and Matchbook in recent years via its great all round offering for sports betting and trading plus they excel when it comes to Politics betting and specials.
The website features interesting graphical charts that focus on odds movements making it an attractive and interesting site to use and the commission rate is just 2% for the majority of customers however, at the moment, new customers registering via this page can qualify for 0% commission for the first 60 days - full details can be found by following the link below.
#AD 18+ Use code COMMFREE to trade with 0% commission for 60 days. New UK, IE & Malta users only. Min. £10/€10 first deposit only using Debit Card or Instant Banking. Full T&Cs apply. GambleAware.org
What are Betting Exchanges?
Every bet placed on an Exchange needs to involve two parties. There is the ‘backer’ - the person who wants to place a bet at specified odds to win - and the ‘layer’ - the person who is willing to take that bet and pay out at the specified odds should it win.
There is no bookmaker involved in Exchange betting - it is simply one punter against another. Because of this model, the odds on Exchanges can often be quite a bit better than what the bookmakers - who include a margin within their odds - are offering.
For example, Tom wants to back a horse to win at 5/1 for a £10 stake. Harry decides he is happy to lay that bet at 5/1 so accepts the offer.
If the horse wins, Harry needs to pay the winnings to Tom. If the horse loses, Harry wins Tom’s stake. The person who wins the bet receives the money into their Exchange account minus a small amount of commission (usually 2%).
This is Exchange betting at a very basic level. However, Exchange bettors are often called Traders because there is the opportunity to place several bets on a market with the aim to lock in a profit regardless of the outcome of the race or event.
In many ways, this can make Exchange betting quite like the stock market in that you are trying to back a selection when the odds are high and then sell or lay that selection when the odds are lower. The Trader isn’t therefore speculating on whether a horse will win the race - they are betting on whether the odds will increase or decrease allowing them to trade a profit.
Betting Exchanges are often used by more savvy bettors who may have their stakes restricted with bookmakers. However, they are well suited to novice punters too - particularly those who like to bet on outsiders as the odds available can be significantly better than what you’d get with a standard bookmaker.
Risk Management in Betting Exchanges
One of the great things about Betting Exchanges is that they provide an excellent way for punters to manage their risk on a particular event as the profit and loss for each outcome is clearly displayed alongside each selection.
For example, if you backed a horse to win the Cheltenham Gold Cup at the start of the jumps season at 16/1 you will see how much you are due to win alongside that horse’s name within the market. For every other horse, you will see the amount you will lose should one of those win.
This information allows the bettor to make a decision on how to manage their risk on the event. For example, on the day of the race they may want to lay that horse at lower odds than they originally took to either reduce or remove their liability or to guarantee a profit regardless of whether the horse wins or loses.
Betting Exchange Promotions
Because Exchanges involve betting against other people rather than bookmakers, there are far fewer free bet or money back promotions on offer. However, most of the major Betting Exchanges offer a sign-up offer to new customers. Check out the Matchbook and Smarkets welcome offers below:
Pros and Cons of Exchange Betting
Pros
- Often have better odds available than standard bookmakers
- Stake restrictions are not applied on winning punters
- Allows punters to ‘trade’ events as well as more conventional betting
Cons
- Platform can look quite complicated to novice bettors
- Fewer markets available than conventional bookmakers
- More suited to placing single bets than accumulators
Frequently Asked Questions about Betting Exchanges
How does a betting exchange work?
A betting exchange provides a platform for punters to bet against each other rather than with a bookmaker. Every bet requires one person to back the bet and one person to lay the bet at agreed odds. The winner receives the winnings minus a small amount of commission paid to the Betting Exchange provider.
What is the biggest betting exchange?
Betfair is the biggest betting exchange however there are a number of newer operators such as Matchbook who are providing increased competition.
How much does the Betting Exchange charge?
The Betting Exchange charges a commission fee on winning bets. This is usually 2%. Other premium charges can apply but they are only applied to accounts making substantial profits.
Can you make a living from Betting Exchanges?
Many professional bettors and traders make their living from Betting Exchanges as they do not restrict winning punters from placing bets like bookmakers often do.