cricket betting exchange ukBest Betting Exchanges in the UK
On this page, we will compare the best betting exchanges available for UK punters, and also explain what they are, how they work, and how to use a betting exchange.
The UK has a few different betting exchanges to pick from but the dominant figure in the market is the Betfair Exchange, one of the largest gambling companies in the world.
Like a lot of betting exchanges these days, Betfair is now home to both an exchange and a more traditional online sportsbook, while customers on the site can even play casino games.
Having all these options with the same online betting account is good news for users who want to have multiple different opportunities to win cash every time they log in to play.
Those without experience of betting exchanges are likely to have plenty of questions, though, so we have put together this detailed breakdown of the top betting exchanges available in the UK.
Traditional betting sites work by setting odds and prices in a range of markets for a wide array of different sports. Customers then decide whether or not the odds are good value when thinking about if they want to have a bet, while they can also shop around for higher prices.
The difference with a betting exchange is that the prices are not set by a bookmaker, they are set by the customers themselves. Exchanges work on a peer-to-peer basis, with users betting against each other, rather than the house, which is how it works on a more standard sportsbook.
Many of the same markets can still be found on a betting exchange like Betfair. For example, football fans can bet on who scores the first goal in the big game, whether there will be more or less than 2.5 goals scored in the match, and what the score will be at the full-time whistle.
The benefits of using a betting exchange over a sportsbook are plentiful. Odds tend to be significantly better, which is the most important advantage to point out about exchanges. This is because sites such as Betfair and their rivals have not set the same margins in their odds to protect their profits. The margin on some markets can be more than 10% on some sites.
So how does a betting exchange make their money if they do not have a margin? They have something called commission, which means they skim a cut from the profits of winning bets. This percentage is usually quite low – it can range from two to five per cent – and means that players will generally still come out with more profit from a winning wager on a betting exchange compared to the same bet being placed on the website of a more traditional online bookmaker.
We have mentioned Betfair already – the biggest site of its type around – but what are the other top betting exchanges that are available for UK players at the present time? Let’s have a look.
There are four major betting exchanges available in the UK right now. They are as follows:
Betfair exchange
Smarkets exchange
Betdaq exchange
Matchbook exchange
Next up in this guide, let’s take a look at each of these betting exchanges in a lot more detail.
Betfair has long been thought of as the market leader for UK betting exchanges, boasting the biggest public profile and a wide range of gambling products that are available to try out.
As well as the Betfair exchange, users on this site can bet on the site’s sportsbook, as well as playing online bingo, poker and various other casino games such as roulette and blackjack.
Founded in 2000 by Andrew Black and Edward Wray, Betfair now claims to have in excess of four million customers, with more than a million of these having an active account on the site.
Betfair is known for its excellent odds, which the company says tend to be around 20% better than those that are offered by a more traditional online bookmaker in the UK. However, the default rate of commission at Betfair is five per cent, which is higher than other exchanges.
Having long been independent, Betfair went through a major merger with Irish bookmaker Paddy Power a few years ago, creating one of the biggest betting brands in the whole world. Then, that new company – Paddy Power Betfair – was part of another takeover as it became a part of Flutter Entertainment, which owns a host of globally famous betting organisations.
Betfair remains a leading light when it comes to betting exchanges in the UK, with a truly massive range of sports and markets to bet on here, as well as specials for politics, current affairs, TV and film. Betfair customers are unlikely to ever run out of things to bet on.
Additionally, there are great live streaming options on the site, which makes it simple for Betfair customers to be able to keep track of all of the live-action after they have placed wagers through the exchange. In-play betting is available on a variety of Betfair exchange markets as well.
Mobile apps are also an area of strength for Betfair, which has a large array of apps that can be downloaded on both iOS and Android devices to make it easier to bet while on the move. All in all, it is fair to say a Betfair account is a must for anyone who wants to use a betting exchange in the UK. The company is widely considered to be right at the top of the pile in its industry.
Betfair exchange pros
Massive choice of sports and markets available to bet on at the Betfair exchange
Live streaming is available for many sports, including UK and Irish horse racing
Much better odds and prices than at the majority of traditional bookmaker sites
Betfair exchange cons
Commission on the Betfair exchange is somewhat higher than with some rival sites
Some minor markets on the Betfair exchange may not have a great deal of liquidity
Despite guidance being available, the Betfair exchange can overwhelm newcomers
While Betfair is the betting exchange that most UK sports fans would be able to name, Smarkets is growing in popularity and has a public profile that is expanding at a rapid rate.
The Smarkets exchange has one major selling point when compared to Betfair – the rate of commission is charged at just two per cent. This might not sound like a big deal, but anyone who uses betting exchanges a lot will find that extra potential profit all mounts up in the long run.
Smarkets usually has prices and odds that are broadly comparable to those that can be found on Betfair. The lower rate of commission, therefore, means more potential profit is up for grabs.
There are a couple of areas where Smarkets is unable to match up with Betfair at this time and these will hold them back from being a major player. The first is that there is no live streaming available, whereas there is a large array of live sport streams to pick from on the Betfair site.
Smarkets customer service is also not quite up to the mark when compared to Betfair, while the site has also had some technical issues in the past, though these were mostly a while ago now.
When it comes to using a betting exchange on a mobile device such as a tablet, Betfair’s apps have the Smarkets offer beaten as well. Those who want to place wagers while on the move might find therefore that Betfair is a better pick for a site to join than Smarkets for this reason.
Newcomers, however, will find Smarkets to be very user-friendly indeed. The site is home to a wide range of explanatory guides that are designed to give those without the experience of betting exchanges a detailed overview of how to use such sites and get up and running.
As betting exchanges can be quite difficult for people to get their heads around when they join them for the first time, Smarkets has made a clever move in guiding people through the process. On the flip side, Smarkets customer service could certainly be improved, so anyone who has an issue with their account on the betting exchange might struggle to get help.
Smarkets exchange pros
Lower rate of commission charged than at the other main exchanges in the UK
Good market liquidity with odds and prices is usually comparable to the Betfair exchange
New sports markets are added to the exchange on a regular basis by Smarkets
Smarkets exchange cons
This exchange has suffered from some minor technical issues in the past
Smarkets does not currently offer any online casino games to exchange users
Customer service is a little limited compared to the rival UK betting exchanges
#3 Best Betting Exchange – Betdaq exchange
While Smarkets might have an argument with the site over whether or not this is now the case, Betdaq claims to be in second place behind Betfair when it comes to UK betting exchanges.
Betdaq is licensed and regulated by the UK Gambling Commission, so there should be no concerns in this department. The range of promotions that are available to both new users and those who already have an account on the Betdaq exchange is also very impressive indeed.
Now part of the Ladbrokes Coral group – the company that oversees all of these betting brands is named GVC Holdings – Betdaq has been around for about as long as Betfair. However, for some reason, this exchange has not been able to grow nearly as quickly as its main rival.
With more than 30 sports available and good depth when it comes to the markets on the Betdaq exchange, most users are sure to find the bet that they are looking for on this site. However, one thing that could possibly be an issue is liquidity, which determines the odds that are available. History shows that liquidity at Betdaq is not nearly as strong as at Betfair on many markets.
Like a lot of betting exchanges in the world these days, Betdaq also offers its customers access to both a sportsbook and an online casino. What this means is that signing up for an account on this exchange gives users a lot of different online betting options to pick from.
Commission on the Betdaq betting exchange in the UK is only paid by customers based on their net winnings in a market. As is the case with most other major betting exchanges in the world these days, no commission is payable if a Betdaq customer records a net loss on a market.
Most sports at Betdaq are charged at two per cent commission – the same as Matchbook and Smarkets – but this site actually offers a zero per cent commission rate on some markets. This means that if there is enough liquidity in those markets, Betdaq might well have the best value odds around in some cases, beating out rival operators including the market leader Betfair.
Betdaq exchange pros
A low rate of commission means this exchange is similar to the Smarkets offering
Plenty of promotions for both new Betdaq customers and existing users on this site
Arguably the easiest and most functional UK betting exchange for newcomers to use
Betdaq exchange cons
Often less liquidity in Betdaq markets compared to Betfair, meaning less value
No live streaming is yet available on the Betdaq exchange, which is a major blow
Not as many options to bet live in-play at Betdaq when compared to some other sites
Most betting exchanges look quite similar but Matchbook has a slightly different design and feel, which helps to make it stand out from the crowd, though it might not impress everyone.
The first place to start when reviewing the Matchbook exchange is the commission as this rate has an impact on how much money people can expect to receive from wagers on the site.
Matchbook commission is set at two per cent on winning wagers. No rate of commission is charged for bets on the Matchbook exchange platform that lose. This means that Matchbook is broadly in line with Smarkets when it comes to the rate of commission, beating Betfair.
However, some special bets at Matchbook are charged at a higher rate of commission. This is set at five per cent, the same as at Betfair, which means players really need to make sure that they know the exact rate of commission they will be paying on a wager before confirming a bet.
Matchbook has some live streaming available to watch, but the range and breadth of the offering are not quite as good as at Betfair, which remains out in front as a clear market leader in this key department. Like each of the company’s main rivals in the betting exchange industry, Matchbook is licensed to operate in the UK by the top industry body the Gambling Commission.
Using a betting exchange through a mobile device is becoming a lot more popular, so the Matchbook app is a must for customers who want to be able to place wagers wherever they are in the world. The Matchbook exchange app is available for both iOS and Android device users.
For those who are interested, signing up for an account on the Matchbook exchange also gives users access to the site’s other gambling products, which include some live casino games. Roulette and blackjack are among the games that are available to Matchbook exchange users.
A few more sports and markets are offered on the Betfair site, but Matchbook’s lower rate of commission means it is recommended to sign up for an account on this exchange as well.
Matchbook exchange pros
Lower rate of commission at Matchbook compared to the Betfair exchange
Some live streaming is available to customers on the Matchbook exchange site
Matchbook customers also have access to virtual sports and live casino games
Matchbook exchange cons
Matchbook’s exchange cannot equal Betfair when it comes to market liquidity
Live chat customer service is not yet available around the clock at Matchbook
Fewer types of markets than at some rival sites, with esports a notable omission
cricket betting exchange ukBest Exchange Betting Sites UK 2022
There are two ways of placing a sports bet – at a fixed odds betting site or at betting exchange sites. At a fixed odds betting site the bookie sets the price and pays you out according to that price should your bet win. At a betting exchange the ‘prices’ are set by the customers.
Betting exchanges usually offer better returns for successful betting in comparion to fixed odds betting sites. Here at SafeBettingSites we’ll tell you the best betting exchange sites where you should boost your betting account with cash via PayPal and others, and then place and lay bets safely, securely and with the best chance of a profitable return.
So, we’ve given you notification of what we reckon to be the leading five sports betting exchange sites in the UK, but you’re probably hunger for a little more information. You’re also probably wondering what makes these sites so special, or at least what are our reasons for listing them in the order that we’ve listed them.
Below you will find a little more info about the sites we’ve picked out as the best betting exchanges available to punters in the UK.
There are several things that we consider when compiling our lists. The criteria used for selecting the top five betting exchange websites can be seen below.
So, what are the key features of betting exchange sites, and which of our ‘famous five’ have them? Below you will find listed what we feel are the key feautures available at betting exchange sites, and an exchange-by-exchange view of which sites are equipped with them, and which are not.
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For those new to betting, the concept of betting exchange sites can be a little confusing. Where a traditional sportsbook/betting site operates on a bookmaker-to-bettor relationship, a betting exchange facilitates a betting relationship between two bettors. In standard sports betting, the punter is trying to beat the bookmaker, but on the exchange, punters take on each other.
How does a betting exchange work?
The one key difference is that on a betting exchange, players can lay bets by offering odds to other players. In other words, they can bet on selections to lose as opposed to win. This essentially allows players to adopt the role of the bookmaker. Betting exchange UK sites also aren’t looking to beat players to make profit, as they simply make a profit by charging a small commission on all winning bets.
There are other differences between standard sports betting and exchange betting, such as liquidity. When playing at a sportsbook, the punter simply selects a bet, enters a stake, and the job’s done. On the exchange, players must ensure that there’s enough liquidity in the market. In other words, if there’s not enough money on the other side of the market that you’re looking to bet on, then your bet will be unmatched, either partially or in full.
With any bet, the money is split into two pools – the money people have placed to back, and the money people have placed to lay. Each ‘pool’ is separated into pots based on the odds that have been offered. Depending on the result of any bet, the winning pool is returned to the people who backed the correct result, and they are paid from the ‘losing’ pool.
While setting your own odds does sound attractive, it’s usually best to stick with the odds offered by the betting exchange. These are the most common odds that people are backing and laying. If you try and offer outlandish odds, such as Manchester City beating Sutton United in the FA Cup at 100/1 then you will find there’s no liquidity as no one (at least no one with any sense) would be willing to lay such an outlandish bet.
We hope that now you know what is a betting exchange, and how to use one.
Are betting exchanges better than traditional sportsbooks? There are certainly pros to using a betting exchange instead of a sportsbook, though it really depends what you’re looking for. For a simple comparison of the two, see below.
There can be no denying that betting exchanges have their place in the world of online gambling, though that’s not to say that there aren’t pitfalls as well as benefits. See below for the pros and cons of exchange betting sites.
Betting on an exchange also offers the opportunity to trade. Many people who’re not really interested in analysing sporting events from a betting perspective, trade on betting exchange sites, much like you might do on a stock exchange.
In short, sports trading or betting exchange trading is simply placing two opposing bets on the same selection, to create a profit regardless of the outcome of the event. As mentioned at other points in this article, trading on a betting exchange is not dissimilar to trading on the stock exchange. Rather than buying and selling, traders on the Betfair betting exchange or at Smarkets, Betdaq or Matchbook, are concerned with backing and laying as a means of betting exchange trading.
The real draw of trading on an exchange, at least for many, is that there’s no need to care about the winner and loser of an event. All the trader is concerned about is price movements. In stocks, the aim of the trader is to buy low and sell high, thus making a profit. The principle is the same for betting exchange traders, but in reverse. Lay low, back high. Any ‘betting exchange academy’ will give you this advice when outlining the best betting exchange systems.
The key advantage of betting exchange systems, as opposed to traditional betting, is that we can bet on something to both happen and not happen, and thus profit can be secured regardless of how things end up. The premise quite simple: back, wait, lay. So, we back at a certain price, wait for that price to fall, before laying off at a shorter price. Having done this, profit has been secured.
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After all, as the saying goes, Rome wasn’t built in a day …
Football betting remains the most popular betting market in the world, even though there’s always a problem with wagering on the global game. That problem is the pesky draw. You can back a team to win, but there are two possible outcomes to the fixture that will see you losing money – your backed team loses, or your backed team draws. Of course, you can use ‘double chance’ fixed odds betting, but the odds are significantly impacted.
There are several ways you can use a betting exchange to improve your chances of coming out on top with your football betting. Say you are going to bet on Everton to beat West Ham. Instead of backing Everton, you could instead lay West Ham. That means you are backing West Ham not to win as opposed to Everton winning. You also have that pesky draw covered, because as long as West Ham don’t win, your bet is covered.
You could of course back both eventualities – back Everton at one site and back West Ham at another. This is know as arbitage betting or ‘dutching’. It may be more profitable to lay both teams instead as that you have have the draw covered twice.
One final option is to use double chance at a fixed odds betting site and laying the draw at a betting exchange. That way, again, you have all eventualities covered. If your backed teams wins, then you win both bets. If it’s a draw, then your double chance bet wins, and if your backed team loses, then laying the draw wins – all eventualities covered. Of course, you are only likely to make a profit if your backed team does win, but betting this way ensures that you do not lose the entirety of your stake.
Tennis betting is extremely popular at betting exchanges. Matches in tennis are more predictable than football matches and the favourite wins over 70 percent of the time (compared to football, where the favourite wins around 60 percent of the time). Tennis betting at exchanges is also popular as each game must have a winner – there are no ties.
Live betting is an essential tool for a tennis betting exchange strategy. Live prices change all the time, just like financial markets. For tennis, the key time is usually at the conclusion of the first set. If the favourite in a match loses the first set, backer’s panic tends to set in and people start to back the underdog. Even the strongest players tend to lose the first set though and then bounce back to take the next two or three, and you can use this to your advantage. The ‘back’ price of the favourite is usually at its most profitable (potentially) if that favourite goes a set down.
Another high price point to look out for is during a tie-break when a player goes 0-3 down. This gives the false impression that they are losing heavily when in fact, in all probablity they have only lost one service point. The price at this stage of the losing player is at its most profitable and you can use this to your benefit. All the player has to do to equalise before their opponent reaches seven points is to win a non-service point and hold serve twice.
If you are accustomed to placing bets at fixed odds betting sites, then you may open up a sports betting exchange and be flummoxed about what you see. In truth, placing a bet at a betting exchange is no more difficult than placing a bet at betting site with fixed odds, as long as you know what you are doing.
Here is our quick guide of how to place a bet at our favourite UK betting exchange, Betfair.
Even if you’ve had exchange betting explained, backing or laying a bet at a betting exchange is slightly more complicated than betting at a fixed odds betting site. If you hand a bookie a fiver to bet on England winning Euro 2020 at 3/1 (4.00) you’ll get ￡15 (your winnings) and ￡5 (your stake) back.
Say you bet with a mate – you say ‘I’ll bet you ￡5 that England won’t win Euro 2020′. Your mate may say, ‘okay, but if they do win you have to give me ￡20, and if they don’t, I’ll give you a fiver’. If you accept the bet, you have a liability of ￡20 which you’re accepting in the hope of winning ￡5, which is how exchanges work. However, working out your liability and potentional profit can be tricky, especially when you throw commission in too. This is where you need to use a betting exchange calculator.
This is the lay betting exchange calculator at the Betfair betting exchange. You enter your stake, which – as you are lay betting – is the amount you hope to win. You also enter the odds of your lay bet and the commission charged by the site. The calculator will update by itself to give you the information you need.
Here – your liability is ￡7.20 which is the amount you will need to pay if your bet loses. Your potential profit is ￡9.80, which is your winnings minus that two percent commission.
Want to improve your betting skillset? We bring you the best betting exchange sites sports betting guides and expert winning strategies across the most popular markets and sports. So be sure to check out the following articles that form part of our betting exchange academy and are designed to help punters with placing bets online.
If you’re serious about betting, then using a betting exchange is a must. Some betting exchanges offer markets that are not available with many sportsbooks, such as a variety of Asian Handicap markets, while there’s no risk of being restricted, as by their nature, exchanges encourage winners. We hope by reading this article you’ve had any questions about a betting exchange explained.
Trading opportunities and the ability to lay bets as opposed to just backing are other reasons as to why a punter would have at least one exchange account. There are fewer betting exchanges than traditional sportsbooks, but the choice can still be a tough one. So, which is the best betting exchange? After much deliberation, we arrived at the conclusion that Betfair, generally considered the king of exchange betting sites, is the best exchange in terms of overall quality, though both Smarkets and betdaq are viable alternatives, especially when it comes to low commission rates.
cricket betting exchange ukBetting Exchange in UK
Betting exchanges have become prominent in the online gambling world.Try to use an exchange in tandem with another platform.Individuals will match bets against one another on a betting exchange in UK.The best betting exchanges provide a transparent platform with great odds.Prices on the markets are set by thousands of bets instead of one entity or person.Back and Lay: The former refers to the act of betting on something or someone to win. If you back a team, you’re betting that they will win. You’ll have come across this if you’ve ever betted with a sportsbook. If you decide to ‘lay’, it means you want to take on the stake that someone has else has wagered by backing, and you’re hoping the selection or bet will lose. If you ‘lay’, you become the bookie in essence.
Place betting: If you enjoy betting on horses, this is a great term to know and utilise. Place betting means you’ll bet on a particular individual (usually a horse), to finish within a certain range. For instance, you’ll bet that your chosen horse will finish in the top 3. If it finishes anywhere within the top 3, you’ll win your bet.
In-play betting: This kind of bet will allow you to bet after an event has begun.
Once you’re familiar with these terms, you should feel more comfortable.
Let’s take a closer look. The major difference between a betting exchange and your average bookmaker, is that a betting exchange allows for punters to bet against fellow punters. So, you can request or offer odds to your fellow bettors. Where the bookmaker would usually take on the risk for going head to head with the punter on a wager, a betting exchange sees no risk whatsoever. Want to know more? Let’s dive into the details.
The betting exchange essentially matches two bettors against each other, one as the backer and the other the layer. The layer has agreed to pay-out the backer’s wager should the bet be successful. As such, the betting exchange is acting as a middleman for the two bettors, taking a small commission of completed wagers. So in the case of the backer winning, he/she would receive the stake from the layer, and vice versa.
The major point that separates exchanges from bookmakers is the option to wager a lay bet. Furthermore, where a bookie would offer you the odds, you wager your bet with odds that you would like and then wait and see if a fellow punter wants to take you on with those terms. You can also choose to accept another punter’s wager. The stake and odds on a proposed wager can be negotiated by the other bettor until the two parties agree on the terms. There is no limit to the odds and stakes that can be proposed; however, they do still need to be attractive enough to garner the attention of your fellow bettors.
There are certain things to look out for when using a betting exchange, some good, some bad. We’ve identified the pros and cons so you can decide whether a betting exchange is something that interests you
The greatest advantage of a betting exchange is the fact that you can utilise the lay betting strategy. Your standard bookmakers will not offer you the opportunity to wager a lay bet on any event, whereas a betting exchange does. This gives you more avenues to try to make money.
For example, should you bet on three different horses to win a race, and one of your wagers is successful, you will have still lost two wagers and probably have just made your money back depending on the odds. Should you use the same strategy but as a lay bet, and you choose three horses that lose the race, you stand to make a lot more money. Even if one of the horses does win the race you will have won two other bets. As you can see, there is a significant advantage to lay betting.
Also, as stated above, you’ll receive better odds than those advertised elsewhere. If you decide to enter the betting exchange world, you’ll see that there are no added profit margins – usually the case when dealing with a bookie. This means that the odds and possible value derived from these bets are bound to be higher. If you’re interested in reading up on odds, you should find our guide to how betting odds are calculated interesting.
Finally, you’re able to react to sudden changes within an event and go against your original bet. You can find this option on any of the best betting exchanges.
As is the case with most things in life, there are a few drawbacks. First, the liquidity on the best betting exchanges is not as high as what you’d expect. Although exchanges have seen an increase in traffic over the last couple of years, it’s not as high as a normal bookie, for the most part. Second, for mainstream sports, you shouldn’t have an issue finding a match. However, for niche sports and subsequent bets, you might find it difficult finding a match. Even if you do, the odds might be rather skewed. Finally, if you’re one to sign up for bonuses and rewards, then you might find yourself feeling disappointed as the availability of these added incentives on betting exchanges pales in comparison to official bookmakers’ offers. If you need an overview on bookies, check out our bookmakers for beginners starting guide.
Aside from these shortcomings, betting markets can be quite rewarding and should not be dismissed lightly.
Now that you know the basics of a betting exchange, you might want to try your luck or test your expertise. On a betting exchange site, you’ll decide on an event – let us use a football game as an example. There will be three options. Choose team A to win, choose team B to win, or choose a draw. You’ll be able to see the odds for all these outcomes. Now you decide whether you’d like to back a certain team, which proceeds in much the same way as it does with a conventional bookmaker, or place a lay bet. If you decide on the latter, you’ll find a notice quoting your “liability”. If your chosen bet loses, the liability amount will be deducted from your balance.
As with ordinary betting sites that are run by bookies, on an exchange you’re able to bet on pretty much all the same things. However, betting exchanges favour sports events and more traditional races – horse and greyhound racing. Which sports? Anything from football, motor racing, golf, to darts. There are many other sports you’re able to bet on. There are also options to bet on events that have nothing to do with sport, such as politics. Certain popular competitions will be advertised on betting exchanges and odds provided on different selections of winners.
If you’re curious or convinced to join a betting exchange, you’ll find a list of recommended exchanges:
Betfair is a company that saw the opportunity early and now runs the biggest betting exchange in the world. They’re continuously rated as the one of the best gambling websites online. Reviews state that Betfair has impeccable customer service and a wide range of markets.
Smarkets is another well-renowned exchange which has consistently good reviews. At 2%, they also have a lower commission percentage than the standard Betfair commission rate of 5%.
Betdaq is another sound betting exchange. Interestingly, Betdaq was one of the first exchanges. They provide a generous welcome bonus and good odds.
Does it seem too good to be true? Well, not really. Above you’ve been given the pros and cons of using a betting exchange rather than a bookie. The fact that you’re entering into a transaction with another individual means there are no profit margins to contend with. As betting exchanges do not take on any risk, they don’t add fees. However, they do take a small commission for providing the marketplace for such activities to occur. You’ll obviously need to pay something for the services provided. The fact that the commission on each winning transaction, relative to the amount wagered, is rather small, means this should not raise any alarm bells. You’re guaranteed to pay more on a bookmakers site, as they have profit margins included in their prices. This is a great reason to check out a betting exchange in UK.
On a side note, the fact that so many people are operating in this market, you’d be forgiven if you are hesitant to provide your financial or personal details. The licensed betting exchanges have ensured full anonymity and buffed up security measures that encrypt all relevant data. Your information is safe and secure on these sites.
Before you begin your foray into the betting exchange world, consider using these tips:
Place realistic wagers. To have your bet matched by another punter, your wagers need to be reasonable and appealing. If the odds you propose on the wager are fair to both parties, you will avoid a lopsided bet and have more success attracting another bettor.Wager bets on the sport you know best. This way, you can wager fair bets with fair odds, and you will know if you are making the right call based on your knowledge of the sport. This will help to ensure that your bets are getting matched.Know the terminology. You’ll be well out of your depth if you don’t thoroughly understand what the betting exchange basics involve, so become familiar with the strategies behind the words to set yourself up for a favourable outcome. Reading this guide is a great start!There are many other guides out there just like our one about the betting exchange in UK. We provide detailed insight into the gambling world. If you’re interested in betting on sports, take a look at our Asian handicap guide. For an overview of the online gambling world, check out our guide to legal gambling, and if you’re interested in a form of betting which provides low risk then take a gander at our no risk matched betting guide. We also have many other great guides for you to choose from. Don’t miss out on a potential option!
Over recent years, the use of the best betting exchanges in UK has really taken off. Increased measures of security and anonymous betting transactions have paved the way for a formidable alternative to how betting operations take place. Punters are able to back and lay bets in a market which provides fairer odds and better chances for success. It is quite possible that such a system will supersede the more traditional gambling arena of operators. People like to have more control over their betting and the best exchanges allow cricket betting exchange ukBetting Exchange in UK for this. If you haven’t tried a betting exchange in UK, there’s not much stopping you. Enjoy the transparent experience and the ability to back and lay prior to, and during, an event.
cricket betting exchange ukBetting Exchange Sites (UK, full list for 2022)
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One of the best things about online gambling is the competition between the operators. They are trying really hard to get customers and a lot of great innovations are born this way. One of them is the so-called betting exchanges.
They give you the chance to actually place wagers against other players instead of facing the bookie directly. There are similarities, but also huge differences compared to traditional sportsbooks. In this article, we will go through everything you need to know about the betting exchange sites in general. On top of that, we will give you a list of the best of them available.
As we already mentioned, you basically bet against other players and not against the bookies. However, let’s go into some more details.
For a start, the exchange basically provides the platform you required for the whole process. It ensures the secure transactions and the safety of the players. This is the reason the betting exchanges require a similar regulation as the online bookmakers.
They also will provide the list of events and markets you can pick from. The most popular sports and competitions from all around the globe are covered. You can pick one, find the game you need, and see what markets are available.
You can then proceed and pick what you want to do with the market. You have the option to back an event which plays the same way as betting in a traditional bookmaker. However, you can also lay the outcome in which case you become the bookie and place your money that the event won’t be true.
For example, let’s take the over 2.5 goals market in a random football match. You decide to back the over 2.5 at odds of 1.80 with £10. If there are more than 2.5 goals in the game, you win and get £18.
If you decide to lay over 2.5 with £10 at the same odds, you essentially place your money that there won’t be over 2.5 goals in the game. Also, to win the £10 you want from the backer, you risk losing the £8 profit he gets if there are over 2.5 goals.
Essentially, there is a pot of £18 the two sides are fighting for. The first £10 are given by the backer and the £8 are given by the layer. The guy who wins takes it all.
You now know how the matching works in terms of the two sides involved. But who determines the price? Well, the players do. You can see what’s available and go for it. However, if you don’t like the current odds, you can offer your own odds. If another user decides he wants to get that, you have a match and the bet is on.
It’s interesting that sometimes you can get even higher odds that you bargained for, while sometimes only a part of your bet will be accepted at the price you want.
The exchanges are automatically matching the users and giving you the best price possible. It really depends if there is enough volume from other players and this is the deciding factor.
Here are the reasons why betting exchanges are worth your time:
Be the bookie: you have the option to actually take the bets of other players;
Pick your odds: you can pick the odds you believe are profitable and if someone matches them, you’re good to go. This is a huge advantage that could make a large difference in the long run;
No betting limits: if there is enough volume, there is no limit on what you can place;
Winners welcome: unlike the bookies that don’t like winners, the betting exchanges don’t really care who gets the money at the end. Their job is to match the two players and get the small fee they charge for the service;
Flexibility: the opportunities you get with betting exchanges allow you to develop various strategies that are simply impossible if you stick with traditional bookies.
Of course, there are some downsides of using betting exchanges such as:
Limited events: you will rarely find some matches from sports and competitions that aren’t that popular. There simply won’t be enough volume to place the bet you want;
Limited markets: the lack of volume also affects certain markets;
No bonuses and promotions: unlike the bookmakers, who offer many promotions and welcome bonuses, betting exchanges offer no or at least a very limited amount of freebets and bonuses.
As you could imagine, some better exchanges are better than others. We reviewed most of them and decided to compile a list with those we believe are the best. The main criteria are the quality of the platform, the volume, the overall service, the customer support, and other important aspects:
Betfair is the undisputed leader in the world of online betting exchanges. The company is by far the most popular out there and there are good reasons for that. It has been around since 1999 and has built an exceptional reputation for the time being.
Betfair has gambling licenses from various regulators such as the United Kingdom Gambling Commission. As a result, the betting exchange offers its services in pretty much any country where betting is allowed.
Here are some important notes about Betfair:
Sports and markets: you will find pretty much every popular sport available. The list includes football, tennis, horse racing, and many more. All traditional markets are covered, as well as some choices that aren’t so popular;
Liquidity: This is where Betfair really excels. The exchange has the highest liquidity on the market. This guarantees the best odds and the opportunity to get a match for the majority of your bets. A crucial advantage over any other company and the main reason we recommend Betfair;
Commission: the betting exchanges make profit by charging a commission on each matched bet. In Betfair’s case, only the winner of the wager pays it. The base value is 5% but you can earn various discounts by collecting Betfair points;
Mobile version: you can easily place wagers on the go with the mobile app of Betfair. It works on the likes of iOS, Android, and even Windows Phone;
Other factors: you can’t really find any disadvantages when it comes to Betfair. The support is fast, there are plenty of payment options you could use, and you can even find the occasional promotion.
Ladbrokes is one of the largest UK bookies and the company has a long history in the gambling industry. It has successfully managed to conquer the online world in the 1990s as well. Ever since, Ladbrokes has launched a bunch of quality gambling products.
One of them is the operator’s own betting exchange. It is licensed in the United Kingdom and benefits from the user base of Ladbrokes. Here are more details about:
Sports and markets: all of the mainstream sports such as football, tennis, basketball, horse racing, American football and more are part of the Ladbrokes betting exchange coupon. That’s not all, as many other events are included.Chances are, you will find what you are looking for;
Liquidity: the volume of bets that’s available on Ladbrokes can’t compare with Betfair, but it’s solid on popular events. If you are looking for football matches, tennis, horse racing, and other sports with millions of fans, you will be able to easily match your bets;
Commission: the Ladbrokes betting exchange charges the winner with 5%, but this rate can be reduced. The more you bet, the lower it gets;
Mobile version: there is a native app available on both Android and iOS. On top of that, the website of the Ladbrokes betting exchange is fully responsive. You can easily place your bets from most tablet and phones;
Other factors: the reputation of Ladbrokes alone is a good reason to trust this particular betting exchange. It has been around for ages and successfully manages all kinds of gambling products. On top of that, the support is impeccable and the payments are very fast.
Matchbook is another big player when it comes to online betting exchanges. The company has been around for more than 10 years and has a solid user base. The company holds two separate betting licenses from the gambling commission of Alderney and the United Kingdom, This allows Matchbook to accept customers from many different countries. Matchbook offers a nice welcome bonus to its new customers.
Here is what the betting exchange has to offer:
Sports and markets: the total number of sports covered by Matchbook is over 20. You will find the likes of football, tennis, basketball, horse racing, and many more. It’s interesting to see eSports on the list as well;
Liquidity: you will find plenty of users on the popular sports and events available on the Matchbook platform. You shouldn’t have any issues placing a wager on them, but that’s not always the case with minor competitions;
Commission: one of the advantages of Matchbook is the much lower commission. The company charges 1.5% if you are the one who accepted another user’s offer. If you add the bet option and some matches it, you are charged only 0.75%. However, both the losing and winning player are charged. This is why Matchbook might not be the best place for you, if the large majority of your wagers normally lose;
Mobile version: Matchbook made sure that each customer can easily play on the go. There are native apps for iPhone, iPad, Android, and even Apple Watch. On top of that, the website of the exchange works on all kinds of modern phones and tablets;
Other factors: Matchbook has tons of experience and an exceptional reputation. The company is taking good care of its customers and is always trying to stay ahead of the curve when it comes to the quality of its platform.
Compared to the other betting exchanges, Smarkets is relatively new to the market. The company is ambitious to make it and puts a large effort. It already managed to attract a decent number of customers from various countries.
Smarkets accepts most players from jurisdictions where online gambling is legal. The reason for that is that the operator is licensed by two of the most respected gambling commissions in the world. They are located in the United Kingdom and Malta.
So, let’s see some important facts about Smarkets:
Sports and markets: if you look at the platform, you will see about 15 main sections, including top choices like football, horse racing, tennis, and basketball. Smarkets also covers unconventional stuff like politics and TV shows. The number of markets is decent, but a bit behind Betfair. Still, will find all classic betting options;
Liquidity: the volume is lower than the best exchanges online, but unless you are a high roller or want to bet on some rare events, you should be fine;
Commission: one of the main advantages of Smarkets over the competition is the fixed commission of 2%;
Mobile version: betting on the go is crucial which is why Smarkets launched dedicated apps for both iOS and Android. The user interface is seamless and you will be able to manage all of your bets from your phone or tablet;
Other factors: what we really like about this particular betting exchange is the desire to improve all the time. It’s much needed in such a competitive niche and we are confident Smarkets will only get better with time.
As you can see, the online betting exchanges have a lot to offer. They are much more flexible than the traditional bookies and you will find plenty of opportunities to make money. It’s no surprise many pro bettors are using them all the time. If you’re still not on board, we highly cricket betting exchange ukBetting Exchange in UK recommend you to give it a shot. You will be surprised how good the odds could be and the exchanges don’t block winners as many sportsbooks do.
last update : December 2022