The Best 3 Exchanges for Betting – In the last few years, betting exchanges have become a game-changer in the gambling world, offering a flexible new way to bet on sports. Unlike traditional bookies, exchanges allow you to either set your own odds or back odds that other players have set. This gives you more control over your bets. You can act as the “layer,” setting the odds, or as the “backer,” accepting odds that have already been offered. In exchange, the platform usually takes a small commission on any winnings, ensuring they get their cut.
Let’s dive into three of the top betting exchanges available in the UK and what they offer to new customers.
Betfair
Betfair is the giant of the betting exchange world, holding a whopping 96% of the market share. Whether it’s football, horse racing, tennis, or golf, Betfair has an extensive range of sports you can bet on. They even cover non-sporting events like politics, making it one of the most comprehensive exchanges out there. To make sure they get something out of it, Betfair takes a 5% commission on any winning bets placed on the exchange.
For newcomers, Betfair offers a tempting deal: place a £10 bet, and you’ll get £30 in free bets. Plus, if you stick around and keep using the exchange, you can accumulate Betfair Points, which could reduce your commission rate by as much as 60%. So the more you bet, the more discounts you can earn.
Since launching in 2000, Betfair has dominated the exchange scene with its efficiency and focus on both the exchange and its traditional sportsbook. As more people discover how betting exchanges work, Betfair is likely to stay at the top for years to come.
Smarkets
Smarkets has been one of the fastest-growing betting exchanges since it was founded in 2008. Unlike Betfair, Smarkets focuses solely on exchange betting, without the distraction of a sportsbook. They cover a range of sports including football, horse racing, tennis, cricket, and darts, as well as politics and current affairs.
An explanation of betting odds
What makes Smarkets stand out is their flat 2% commission, the lowest among the major betting exchanges. This means you get to keep more of your winnings. They also offer new customers a £10 risk-free bet when they make a £20 deposit, which is a great way to get a feel for the exchange without much risk.
However, Smarkets doesn’t cover quite as many sports as some of its competitors. For instance, they don’t offer markets on rugby union, boxing, or snooker. Still, the site is dedicated to improving its offering, and it has excellent in-play betting options. It’s definitely a platform to watch as it continues to gain traction.
Matchbook
Matchbook is still considered a bit of an up-and-comer in the world of betting exchanges, but it’s made significant strides in recent years. They recently added horse racing to their list of sports, which also includes football, baseball, tennis, rugby, darts, and even MMA and politics. This variety makes it appealing to fans of both UK and international sports.
New users can take advantage of Matchbook’s £30 welcome bonus, split between two £15 bets when you use the promo code “MAXSPORT.” One of the cool things Matchbook does is encourage new users to place a lay bet (betting against a certain outcome). It’s a good way to familiarize yourself with how exchange betting works if you’re new to the concept.
While Matchbook’s layout and overall user experience might not be as polished as Betfair or Smarkets, it’s still growing and improving. The site lacks some depth in terms of markets for individual events, but it has a lot of potential. With continued development, Matchbook could become a major player in the exchange betting scene.