Betting exchanges offer customers the opportunity to buy and sell on the outcome of a sporting event. Punters love wagering on betting exchange sites because they can trade in real-time throughout the event.
Many high stake punters place bets on the betting exchanges as they are seen as the best no-limit bookmakers online.
We’ve put a comparison table together of the top online betting exchange websites so you can see what welcome offers and bonuses they have and compare all the betting exchange options. We hope you find one to suit your needs.
In our betting exchange comparison guide, we explain all the best features available and rate the best betting exchange sites recently updated in September 2023.
Find out more about exchange betting today:
- 1 Best Betting Exchange Sites 2023
- 2 What are Betting Exchanges?
- 3 How does a Betting Exchange work?
- 4 Why Bet on Betting Exchange Sites?
- 5 How many Betting Exchanges are there?
- 6 Betting Exchange Commission Rates
- 7 What are the Main Advantages of Exchange Betting?
- 8 Facts about Betting Exchange Sites
- 9 Betting Exchanges FAQs
- 10 The Best Betting Exchange Betting Sites Review Summary
Best Betting Exchange Sites 2023
From our research here are the UK best betting exchange sites 2023:
- Betfair’s Betting Exchange lets you bet against other people and get great odds on thousands of markets every day.
Max £20 refund on first bet. Bet must be placed in first 7 days of account opening. Payment restrictions apply for the promotion.Full T&C's Apply
- Spreadex is the only firm that allows users to wager on sports spreads and fixed-odds using the same account.
New Customer Offer. T&Cs Apply. 18+. Please Gamble Responsibly.Full T&C's Apply
- The Smarkets betting exchange allows you to back and lay with the best betting odds and lowest commission.
Use code COMMFREE to trade with 0% commission for 60 days. Min. £10/€10 first deposit using Debit Card or Instant Banking. Full T&C’s apply.18+. BeGambleAware.org.Full T&C's Apply
- Matchbook is a peer-to-peer betting exchange designed for smart bettors who want more value.
New customers only. Sign up using the bonus code ‘Matchbook30’. Place your first bet, if it loses, we will refund your first bet stake as a free bet. The first bet must be placed within 7 days of registration and at odds of 1.8 or more. The max refund is a single £30 free bet and will be applied to your account with 72 hours of qualifying bet settlement. 18+ only. BeGambleAware.Full T&C's Apply
- Betdaq is one of the most popular and biggest betting exchanges in the world.
New 18+ Customers only. 0% commission on all exchange sports for 100 days. Promo code 0COMM100 must be entered during registration. Offer only available to users who deposit via debit card. Standard 2% commission rate applies on 101st day. Not available to API, RDT or trading software customers.Full T&C's Apply
- The Sporting Index betting exchange app offers the best sports spread & fixed odds betting experience on mobile.
New UK & Eire clients only. 50% cashback on cumulative net losses on qualifying spread bets placed and settled within 7 days of account opening. Fully, partially or reverse closed bets do not qualify. Max cashback £500. Spread betting involves risk. Losses can exceed deposits. Always bet responsibly. 18+.Full T&C's Apply
The above all represent the top betting exchange sites on the market today, many offering free bets, freed bet credits or a welcome bonus to new customers, in-play betting on a range of markets, live streaming and more.
What are Betting Exchanges?
Betting exchanges are betting against other gamblers in a peer-to-peer trading system.
It means punters can offer odds to and request odds from fellow punters on the exchange. You basically set your own odds with an exchange site. Which many find exciting and dynamic. You basically become the bookmaker.
The betting exchange sites take a small fee for managing the trading system that allows punters to back or lay a selection (this is known as betting exchange commission rates).
Betting exchanges are becoming an increasingly popular and growing part of the gambling industry. They are gaining in popularity with many offering better odds and an experience that feels balanced and fairer, putting the odds and control back with the punter.
How does a Betting Exchange work?
The difference with betting exchanges when compared to standard bookmakers is that they allow lay betting.
Lay betting is backing a selection to lose rather than win.
This means that every bet that is placed on a betting exchange essentially consists of two bets; the first bet is backing the selection to win and the second is backing the same selection to lose.
The option of placing means that it is easier for punters to get a return on a bet if the betting odds shorten after they’ve placed their bet. Betting exchanges operate on a simple premise.
Why Bet on Betting Exchange Sites?
Bet on exchange sites if you want to have control over odds, set your own parameters and are looking for something different.
The best betting exchanges have much better odds than traditional fixed odds bookies online. The spread betting on the betting exchanges gives punters the opportunity to win more money on singles or straight bets.
If you are looking to win big money payouts and willing to take risks then look no further than the best betting exchanges.
Betting exchanges cuts out the middle man in the betting market and you don’t need to worry about the online bookmakers large profits.
How many Betting Exchanges are there?
There are 5 betting exchanges in the UK these are:
- Betfair Betting Exchange
- Ladbrokes Exchange
Each has its own perks and mobile betting so follow the links and read more and check if they are suitable for your needs as opposed to fixed odds betting. There are some betting exchange offers for new customers who are opening a betting exchange account.
Betting Exchange Commission Rates
Here are the following UK betting exchange commission rates for sports bettors wagering bets in the United Kingdom:
- Smarkets has a betting exchange commission rate of 2% on winning bets only
- BetDaq has a betting exchange commission rate of 2% on winning bets only
- Matchbook has a betting exchange commission rate of 2% on net win
- Betfair has a betting exchange commission rate of 5% on winning bets only
The Betfair Commission rate can be lower than 5% depending on the discount rate you have earned through your betting activity with them.
What are the Main Advantages of Exchange Betting?
The main advantage of exchange betting is:
- The opportunity to place lay bets – a lay bet is placing a bet on a horse to lose rather than as winning bets.
- The betting exchange odds are usually better and more attractive than with a standard bookie. This is because when a punter bets against a bookmaker, the bookmaker’s profit is factored into the prices they offer.
- Losing bets are also not subject to charges.
- Payment methods are varied and are what you would also expect from standard leading betting websites – this gives deposit funds a flexible outlook.
- There is a range of betting markets to choose from when betting with online betting exchanges.
Most of these perks apply to any betting exchange site.
Facts about Betting Exchange Sites
- Betting exchange sites are online platforms that allow users to bet against each other, rather than against a bookmaker.
- Betting exchanges are not bookmakers, but instead act as a marketplace for bettors to find and match bets.
- Betting exchanges offer a wide range of markets, including sports, politics, and entertainment.
- Betting exchanges offer better odds than traditional bookmakers, as the odds are determined by the users rather than by the bookmaker.
- Betting exchanges allow users to lay bets, meaning they can bet on an outcome not to happen eg. someone to lose.
- Betting exchanges also allow users to place bets in a variety of currencies, including USD, EUR, GBP, and AUD.
- Betting exchanges offer a variety of features to help bettors make informed decisions, such as live streaming, in-play betting, and cash-out options.
- Betting exchange sites are estimated to account for around 10% of the global online gambling market.
- The UK is the largest market for betting exchange sites, accounting for over 40% of global revenue.
- In the UK, betting exchange sites are estimated to generate over £2 billion in revenue each year.
- Betfair, the largest betting exchange site, has over 5 million customers worldwide.
Betting Exchanges FAQs
What are the Best Betting Exchange sites for customers residing in the United Kingdom?
The best UK betting exchange sites are:
Check out of full review of these sites in our guide of the best betting exchanges sites. They are all covered by the UK Gambling Commission.
Do all bookmakers offer betting exchange sites UK?
Not all standard bookmakers offer betting exchanges, the bookies who do offer a betting exchange are Smarkets, Betfair, BetDaq, Matchbook, and Ladbrokes.
Who are the biggest betting exchanges in India?
The biggest betting exchanges in India are:
- Betfair Exchange
- Fun88 Betting Exchange
- Crickex Betting Exchange
The Indian punters love the betting exchange, which is when players bet against each other instead of betting against the bookmaker.
The Best Betting Exchange Betting Sites Review Summary
We hope that you have enjoyed our Betting Exchange review.
We have looked at how betting exchanges work, a guide to exchange bets, the benefits over traditional bookmakers, the range of betting exchange markets, sports betting exchanges and more.
Exchange betting sites are limited to just five options at the moment but we expect more to come onto the market in the coming years. If you are looking for your first or a new betting exchange account then check out the ones listed up the page.
Subjects covered in our Online Betting Exchange and Best Betting Exchange Options Guide:
- Betting exchange site options vs normal betting site options
- Online betting exchange sites comparison for sports betting
- Variety of betting markets for laying bets
- Matched betting and multiple betting optipns