Betting Exchanges

Betfair is our No.1 recommended betting exchange - click here

Full review of Betfair Betting Exchange

Full review of Betdaq Betting Exchange

Full review of WBX Betting Exchange

Frequently Asked Questions

Guide to betting exchanges in a FAQs format

But to get the best out of betting exchanges, read on. Below are reviews of the top betting exchanges plus a guide to using betting exchanges. We will also have a Frequently Asked Questions section.

Betfair Betting Exchange is the most successful online betting site in the world and it is little wonder. The Betfair betting exchange software is superb and, because Betfair is deservedly the number one in their field, the volume on the betting markets is massive. The large volume is great for punters (bettors) and layers (those who act as bookmakers) because it means they can make the wagers they are looking for. Betfair is regulated by the UK's Gambling Commission and their headquarters are in London. Betfair is the best betting exchange in the world, no question about it. Betfair also offers a £25 free bet to new clients.

To visit Betfair Betting Exchange - click here

For a full review of Betfair Betting Exchange - click here

Betdaq betting exchange comes a distant but respectable second to industry leaders Betfair. Betdaq run a good business and their betting exchange software has closed the gap on Betfair in recent years, but it needed to. It is hard to imagine anyone purely doing their transactions on Betdaq and not Betfair. Our advice is to open an account with Betdaq to compliment your account with Betfair. It follows that if you a user of betting exchanges then you are acutely value conscious so it would be worth checking the odds of your chosen transaction (whether that be a bet or a lay) on Betdaq before you commit to your bet on Betfair. You never know, you might get better value on occasions. Betdaq is based in Ireland.

To visit Betdaq Betting Exchange - click here

For a full review of Betdaq Betting Exchange - click here

Betting Exchanges Explained

Betting exchanges enable person-to-person betting: Betting exchanges are a platform for people to swap or 'exchange' bets. You may wish to bet on a specific horse at 2/1 (that is decimal odds of 3.0) and someone else may want to offer or 'lay' that same horse at 2/1. At a betting exchange that transaction can take place.

Betting exchanges offer better betting odds: Betting exchanges offer better value than traditional bookmakers. They do charge a commission but that is more than compensated for by the better betting odds.

Betting exchanges offer up to 25% bigger betting odds than a traditional bookmaker. The maths behind this is that the 'overround' of a mature betting market is always 100% with a betting exchange rather than up to 125% with a traditional bookmaker. What this means is that the betting odds at a betting exchange have zero 'house edge' so betting exchanges offer up to 25% more value (depending on the particular betting market). It is not important to know the detail of the maths or to grasp the concept of overrounds. What is important is to recognise the tremendous value that betting exchanges can offer a punter compared to traditional bookmakers. To summarise: betting exchanges offer bigger odds.

Commission: Betting exchanges make their money by charging a commission to the winner of the bet (not to the loser). You could have many bets on a single event. Some bets may win and others may lose. It is only the net profit on that event that is liable to commission. The usual starting level for betting exchange commission is 5%. So if you win £100 on an event then you will pay £5 commission, however this commission rate decreases the higher your ongoing turnover is and can get down to just 2%.

Get better betting odds than are currently available: If you want better betting odds than are being offered at the time on the betting exchange, you can place an order for a better price. For example if a horse is available at best odds of 3/1 (4.0 in decimal odds) but you only want to back it at 4/1 (5.0 decimal odds) then you can place that order for your chosen stake (say £10). That order will remain i) until it is filled ii) until you choose to cancel or change it iii) until the start of the event. If it has not been filled when the event starts it will be cancelled. However it may be part filled (say £5 of your £10 matched and the rest unmatched).

Betting in running: On betting exchanges you can bet in-running on almost every single event: a horse race, a football match, a golf tournament. You name the sport and, on a betting exchange, you can bet during that event if you wish.

Lock in a profit: It is possible to guarantee a profit when using a betting exchange. Imagine having a £10 bet on a horse at 10/1. Imagine that the betting odds of that horse then contract to 2/1 (either before the event starts or even 'in-running'). You may then choose to lay that horse at 2/1 and take a £20 bet to lose you £40 if the horse wins. In this example if the horse wins you win £100 and you lose £40 = £60 profit. If the horse loses you lose your £10 bet and you win your £20 lay = £10 profit. This concept, also known as an arbitrage situation, is used by thousands of seasoned betting exchange clients to lock in profits. Many people trade on betting exchanges full-time, a bit like trading on the stock exchange.

Privacy: You bet and lay in anonymity. Your identity is never disclosed to other betting exchange clients.

The best betting exchange: There are only three serious betting exchanges and two of them suffer from a severe lack of liquidity or volume on many betting markets. Our number one choice does not have that problem and has deservedly cornered the betting exchange market. We are not being controversial by stating that the best betting exchange is, without any doubt, Betfair Betting Exchange.

Want to know more? There is more detail in our betting exchanges 'Frequently Asked Questions' section, which is a detailed guide on how to use betting exchanges.

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