Best Betting Exchange Sites in the UK June 2025
Exchange betting rose to prominence in the early 2000’s as an alternative to betting with bookmakers. Read More
With Exchange betting sites, 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.
Full List Of 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. These are currently the best betting exchange sites so check out their current sign-up offers below:
1. EasyBet - Brand New Betting Exchange
One of the newest betting exchange sites is EasyBet - another arm of the Easy Group best known for Easyjet airlines and holidays. EasyBet uses Matchbook's liquidity and offers 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 odds available for 16 sports 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 Multiples, x £5 Free Bet on any market. Full T&Cs apply.
2. Matchbook - Best Betting Exchange for NFL
Matchbook is one of the best betting exchanges, offering its customers market-leading 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 decent offering across all the major 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 18+ New customers Only. New customer must place and settle £50 in bets on Matchbook markets only. The user must bet on at least 4 different events to qualify. The user must place and settle bets at odds of 2.0 or more. Bets can be placed on singles, multiples and Bet Builders. The user must place and settle bets before the closing date of the promotion to qualify. . T&Cs Apply. GambleAware.org
3. Betfair - Biggest Betting Exchange
Betfair is the original, biggest and generally considered the best betting exchange attracting bets across a wide range of 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. Racing punters can bet at Betfair SP which is a great USP and allows you to place your bet early but still benefit from the enhanced liquidity that comes just before the off. Betfair users have the opportunity to choose from different reward plans with the ‘Basic’ option including 2% commission on Exchange bets however you should be aware that 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 £30 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.
4. Smarkets - Best Betting Exchange for Politics
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 really stand out 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.
#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
Betting Exchange Sites Compared
| Exchange | commission | welcome offer | best foR | APPS | |
|---|---|---|---|---|---|
| 1 | Easybet | 2% | Bet £20 Get £20 | Bonuses | IOS/Android |
| 2 | Matchbook | 2% | Bet £50 Get £50 | Liquidity, NFL | IOS/Android |
| 3 | Betfair | 2%* | Bet £10 Get £30 | Range of markets, SP | IOS/Android |
| 4 | Smarkets | 2% | 0% Commission for 60 days | Politics | IOS/Android |
*2% Betfair commission rate only applies to those who select the Basic Rewards package.
What is the difference between a betting exchange and a bookmaker?
A betting exchange is a platform where two bettors come together to place a bet at agreed odds which differs from the more traditional model of placing bets at odds provided and displayed by a bookmaker. With a betting exchange there are no "bookmakers", just punters coming together to place bets. Whilst bookmakers make their profit when punters lose, betting exchanges make their profit by charging a small commission (usually 2%) on winning bets.
Betting exchanges often have better odds available when you are backing a selection to win. So if odds are your priority then its often better to visit an exchange. However, it is much more difficult to place an each-way bet on the Exchange so if that is your preference, its usually better to look at the different each-way terms offered by bookmakers and shop around for the best ones on your fancy.
The time at which you like to bet is also an important consideration. Liquidity on betting exchanges is often quite low on the morning of a race so it can be difficult to get your bet matched. This is less of an issue when betting with bookmakers however, if you are a winning punter, you can often be restricted by bookmakers making it difficult to get your bet on early.
Restrictions aren't an issue at betting exchanges as all punters are anonymous and treated equally when it comes to matching bets.
Betting Exchanges Explained
Betting Exchanges involve two parties exchanging bets via the Betting Exchange platform. One party is known as the backer (they are backing a selection to win) and the other is known as the layer (they are betting on that one selection to lose). Backers and layers can specify the odds they want to back or lay at and when two parties are happy to agree on those odds, the bet is struck. Breaking it down, it goes like this:
- Users can create a back or lay bet adding a stake and the odds they want.
- Another user can then choose to accept the other side of that bet at the agreed odds. Some or all of the stake can be taken to completely or partially match the bet.
- When the market settles, the person who won the bet will be paid out minus an agreed commission (usually 2%).
Is betting exchange legal in the UK?
Yes, betting exchanges are legal in the UK although they are banned in some other countries around the world. The main concern around betting exchanges is that they provide an easy option for a user to bet on something specific to lose which can create concerns around things like match fixing. Therefore betting exchanges are heavily regulated and monitored for suspicious activity.
Betting Exchange Promotions
Because Exchanges UK involve betting against other people rather than bookmakers and as such 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.
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
- The Betfair SP almost always pays more than the standard SP making a horse racing betting exchange an attractive option for horse racing bettors
- In-running horse racing betting is much better on an Exchange than a standard bookies site
Cons
- Platform can look quite complicated to novice bettors
- Fewer markets available than conventional bookmakers
- More suited to placing single bets than accumulators
- No each-way betting is generally available - a user needs to be to win and also to place
- Fewer promotions are available on an Exchange than with a standard bookie
How to start using a betting exchange?
Whilst betting exchanges can look quite daunting to a new user, its actually quite easy to start using one.
- Sign up for an account using the links on this page - there will be a welcome bonus on offer for new users.
- Decide if you want to bet on a selection to win (ie back) or on a selection to lose (ie lay). Most punters will want to back.
- Click the odds button next to your selection and enter your stake and the desired odds. Note that the odds do not have to be currently available - you can place a bet "offer" at your desired odds and hope it gets matched by another user.
- You'll see in your account when a bet has been matched. This means another user has accepted your bet at the odds you requested.
- When the bet settles, you will either lose your money (it it loses) or get paid out at the matched odds minus a 2% commission.
What is a Lay Bet?
Laying is what bookmakers do day-in day-out in that they are accepting a bet from a punter at specific odds. When you "lay" on an exchange therefore you are playing the role of the bookmaker and laying those odds to another bettor. When you lay, you want that selection to lose as you'll then keep the punter's stake. If the bet wins, you'll need to pay the punter at the agreed odds. Laying is much less popular than backing because you need to have bigger sums of money available to pay punters out if there selection wins. Eg If you lay a £10 bet at 10/1, you will need to have £100 in your account to eb able to pay the bet is it wins. If it loses you win the £10.
Betting Exchange Horse Racing Strategies & Tips
Some popular betting exchange strategies include:
- Trading - ie you either back or lay a selection and then place the opposit bet later to guarantee a profit.
- Hedging - if you stand to win a large amount of money on a bet and want to "hedge" to guarantee a profit, you could lay the selection off on an Exchange. For example, if you'd backed PSG at 10/1 to win the Champions League, you could lay them at a much shorter price in the final to either reduce/eliminate any possible loss or to guarantee yourself a profit regardless of the result.
- Back To Lay - In this strategy a punter may back a horse because they think the odds will shorten. So you might back a horse at 20/1 and then lay it later at 10/1 to either guarantee yourself a profit or to eliminate any liability on the race.
- Lay To Back - in this strategy you may think a horse's odds are too short so you lay the horse with a view to backing it later. So you might lay the horse at Evens and then back it later at 6/4 either to guarantee a small profit or eliminate any liability on the race.
- Scalping - this involves placing lots of little back and lay bets to try and generate lots of small wins on a market. In the lead up to a race, a horse's odds often fluctuate so scalpers will try to back at a bigger price and lay at a shorter price to generate small gains.
Risk Management in Betting Exchanges
One of the great things about Betting Exchange Sites UK 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.
Exchange Betting Terminology Guide
Here are some popular betting exchnge terms expalined:
- Backing - betting on a selection to win
- Laying - accepting a bet on a horse to win so you are in effect betting on the horse to lose.
- Commission - the money (usually 2%) taken by the Exchange from winning bets
- Liquidity - how much money there currently is in the market. Lots of liquidity means its much easier to place bets.
- Liability - when you lay a bet, the liability is the amount of money you need to pay out if the selection wins. So if you accept a £10 bet at 10/1, your liability is £100.
- Matched/unmatched bets - Bets are matched when two punters agree on the odds and complete a betting transaction. Unmatched bets are offers made by punters that are waiting to be accepted.
- In-play - betting on an event when the event is under way.
- Cash out - closing your bet early at agreed odds. So if you bet on Liverpool to win a match and they go 2-0 up, you may want to cash out your bet to ensure you win (albeit at a lower payout) rather than risk the other team coming back to draw or win.
- Trading - backing and laying selection to make a profit regardless of the result of the event. This is a bit like stock market players who buy stocks at low prices and sell them at high prices.
- Arbitrage - when a punter places a bet at bigger odds (usually with a bookmaker) and then lays the bet at a shorter price on the exchange.
- Market depth - similar to liquidity in that it relates to how much money there is in the market. Deep markets will have lots of layers of money lined up at different odds for a specific selection.
- Price movement - when the odds for a selection fluctuate making it easier to trade selections.
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.
Do you pay tax on betting exchange profits UK?
No, gambling winnings are exempt from tax in the UK. However, if you become a profitable exchange bettor, it's likely that the Exchange provider will charge you extra fees based on the amount you are winning.
What is trading on betting exchanges?
Trading is the act of betting at higher odds and laying at shorter odds to guarantee a profit.
Which betting exchange has the lowest commission?
2% is the lowest commission rate available currently. This is available at Matchbook and Smarkets plus you can choose the Basic Rewards plan at Betfair which also gives you that 2% rate.
Is exchange betting better than fixed odds?
Exchange betting can often allow you to take much better odds than what you would get from a traditional bookmaker. However, there are far fewer promotions available on an Exchange and the liquidity can be poor until you get close to the event start time.
Can you use betting exchanges for matched betting?
Yes, if matched betting is your thing you can use Exchanges to either lay a selection you have backed on a bookmaker site or to back the other side in a 2 way event to allow you to take a bonus from a bookie without any liability on yourself.
What is commission in betting exchanges?
Betting Exchanges make their money by applying a small commission rate (usually 2%) on winning bets. So for every bet that is struck, the Exchange will take a small amount from the winning punter.