If you’re familiar with bookmakers and the betting world you’ll probably know what the sportsbook is. In a typical sportsbook, you can only wager “for” an outcome. Exchange betting sites differ significantly from a standard online betting site. An exchange is a special venue where you can wager in favour of or against particular outcomes. Of course, this gives you more betting options than a typical sportsbook which is why so many people like to use them.
Sorting- Newest
- Best Ranked
UK licensed- Secure and trusted
- Fast withdrawals
- Mobile friendly
| RANK | betting site | Rating | Max Bonus | Key Features | Welcome Bonus | Play or Sign Up | |
|---|---|---|---|---|---|---|---|
| 1 |
SpreadEx
|
Expert Review |
Max Bonus
£60 |
Key Features
|
Bet £10 Get £60 |
Sign up Review |
#AD 18+ New UK customers only, Place a £10 fixed odds bet at minimum odds of 1/2 and get 3 x £10 free fixed odds bets, 3 x £5 Total Goals football spread bets and 3 x £5 Winning Favourites spread bets on consecutive days and a £1 racing Race Index spread bet. The promotion will run from 11th March 2025 until discontinued by Spreadex Ltd. using its reasonable discretion, (“Promotion Period”). Offer can only be used once per customer. Full T&Cs apply. | T&C apply |
| 2 |
bet365
|
Expert Review |
Max Bonus
£30 |
Key Features
|
Open Account Offer: bet £10 Get £30 |
Sign up Review |
Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Registration required. Time limits and T&Cs apply. #ad | T&C apply |
| 3 |
EasyBet
|
Expert Review |
Max Bonus
£30 |
Key Features
|
Bet £20 Get £30 |
Sign up Review |
New customers only. To qualify for free bets, the new user must place and settle £20 on easyBet markets. The user must bet on at least 2 different events to qualify. The user must place and settle bets at odds of 2.0 or more. An event is classed as two different sporting events. 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's and C's Apply. Be Gamble Aware. 18+ | T&C apply |
| 4 |
SBK
|
Expert Review |
Max Bonus
£40 |
Key Features
|
Bet £10 Get £40 |
Sign up Review |
New UK customers only. Min £10 first deposit using Debit Card or Bank Transfer. Place a bet of £10 at min odds of 2.0 and get a £5 Football Bet Builder and £5 Golf token upon settlement. A £10 Multiple, £5 Horse Racing Multiple, and £5 Football Bet Builder token after 24 hours. A further £10 Multiple token after 48 hours. Minimum 3 legs. Full T&Cs apply. 18+. BeGambleAware.org. | T&C apply |
| 5 |
Matchbook
|
Expert Review |
Max Bonus
£50 |
Key Features
|
Get £50 in Free Bets |
Sign up Review |
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's and C's Apply. Be Gamble Aware. 18+ | T&C apply |
How we rank the best Exchange Betting Sites
| Aspect | Description |
| Liquidity | This is an absolutely crucial aspect that every prospective betting exchange bettor simply must consider before they consider anything else. A betting exchange’s liquidity is the amount of money that is available in (i.e. has been invested by other bettors into) the exchange. Partially matched or unmatched bets are the ever-present spectre looming over all betting exchange bettors, and the main cause of them is poor liquidity. Poor liquidity can have a number of causes, such as low popularity of the particular event or market, low popularity of the exchange itself, or the prematurity of your investment (an event that is due to take place one year from now is unlikely to have attracted much attention yet). No matter the cause, poor liquidity will destroy your prospects of effectively utilising a betting exchange, regardless of any other positive factors. For this reason, this aspect is an incredibly heavily-weighted one for us when we are evaluating betting exchange sites. |
| Commission | One of the key advantages of betting exchanges over traditional bookkeepers is the greatly preferable odds that are always available. Traditional bookkeepers make their money by building profit margins into the odds that they offer, so that regardless of the outcome of any event, they will still profit overall. Because betting exchanges do not utilise a centralised bookkeeping institution, this in-built profit margin is not a factor. “Bookkeepers” (the bettors who make the lay bet on one side of any wager) instead stand to make their money from winning the wager. The website that hosts a betting exchange still needs to profit in some way, and they do this with what they call their commission: whoever wins a wager will have anywhere between 2% and 5% of their winnings deducted by the betting exchange. What we look for when evaluating a betting exchange is how large this commission is. As we have described, an attractive commission would be one that is around the 2% mark. However, some betting exchanges will, in some cases, offer a 0% commission, meaning that you stand to keep 100% of any money that you make. Obviously, the more frequently that a betting exchange offers a 0% commission, the higher it will score in this aspect. |
| Diversity of Markets | This is the final aspect which is crucial to our evaluation of betting exchange sites, and the only aspect which is not completely unique to betting exchanges. Betting exchanges are famous for generally having an extreme diversity of markets compared with traditional bookmakers, because the markets are in theory only limited to what wagers bettors wish to put money behind. That being said, a market cannot exist if there is not enough interest and investment in it for there to be sufficient liquidity behind the market. Some betting exchanges do also seem to limit their range of markets much more than others do. The way bettors can make money on betting exchanges is by finding and taking advantage of good odds. The more markets on offer, the more likely a bettor is to be able to discover and capitalise on good odds. A betting exchange with limited markets will probably only offer the largest events, and such events will always receive so much attention that discovering potential value in them will be effectively impossible. |
Best betting exchanges in the UK
Matchbook
Matchbook is one of the most well known betting exchanges in the UK and they have a lucrative offer of 0% commission for the first 30 days of a user being a new member and they have probably one of the easiest websites to use. As well as having the low commission to start with they also offer a free bet welcome offer which definitely tops the industry at present. They are a strong contender based on reputation alone and should definitely be considered when looking for betting exchange sites to start using.
Pros of using Matchbook:
- They offer 0% on everything for the first month after signing up
- They have a strong reputation within the industry
- Known for having fantastic customer service agents
Cons of using Matchbook:
- They have a high minimum cashout amount at £500
- Their customer support is not available 24-7 unfortunately
- They have a relatively small collection of sports markets available
Smarkets
Smarkets has been one of the best known betting exchanges sites in the Uk and for good reason. Not only do they have a modern website for their users to navigate but they also have a straightforward betting mobile app. The site can seem a little cluttered by the charts on various options but that is such a minor detail most punters can simply overlook it. They have one of the widest ranges of betting markets and sports available so if you are hoping to place bets on slightly more unique or less desired sports, then Smarkets might be the best betting exchange choice for you out of sites available.
Pros of using Smarkets:
- Great mobile app for punters to use
- Wide range of betting markets available to choose from
- Cover even some of the less popular sports and events
- The website is available in multiple different languages
Cons of using Smarkets:
- Cluttered website interface can make it seem complicated to use
- Not really known for having many deposit or welcome bonuses
Betdaq
Betdaq is a little less known than its competitors which is why it can sometimes be overlooked when comparing betting exchanges sites in the UK. But that’s not to say you shouldn’t look into them. They have a great app for both Iphone and Android users as well as some of the most competitive odds across the industry. Now, although they might have slightly less sports and games available for punters to choose from, when you do find that perfect sport to make wagers on, you’ll be confident you can take advantage of their low commission amount – which actually benefits you more!
Pros of using Betdaq:
- Some of the most competitive odds in the industry
- Have a great low commission amount for their punters
- They payout immediately when requested
- Have an easy to use app for both Apple and Android
Cons of using Betdaq:
- Less sports available for punters to bet on
- They’re not as well known as some of the others yet
- They have a small collection of games available for in-play betting
Ladbrokes did have a great exchange platform but it is unfortunately not available at present.It was a fan favourite so there is hope it returns eventually. The same goes for the Unikrn exchange who are currently renovating their entire website and will be back before the end of 2022!
To put it simply, a betting exchange site is a marketplace where gamblers can trade wagers on the results of certain events as you’d expect. It is distinct in that it enables gamblers to wager against one another as opposed to a bookmaker. In a way, you could say that the bettors actually become the bookmakers in a betting exchange scenario by setting their own odds on an outcome, while the punter also backs the odds set by other users of the exchange betting site. It sounds more complicated than it is.
The history of betting exchange stores and sites
The new exchanges and the old, established, high street bookies engaged in some competition in the early days. Fixed-odds (or regular) bookies were afraid of the exchanges when they first started appearing and started to attack them, lobbying MPs and alleging match-fixing on exchanges. However, bookmakers soon understood that these few exchanges were in fact helpful, particularly for determining their own odds. This means that what started as an aggressive competition soon became two opposing teams in sync and harmony with each other.
Understanding the difference between back and lay bets on exchanges
Back betting refers to betting on an event to occur, such as a horse, team, or player to win. This is a typical bet on a betting site. On the other hand, lay betting refers to a wager on something not taking place. If you wager on a football team to lose, for instance, or if the game ends in a draw, your bet will be settled as a winner, making two outcomes work in your favour.
| Back bet | Lay bet |
| A typical bet made at a bookmakers | An optional bet allowed on betting exchanges |
| Betting “FOR” an outcome happening | Betting “AGAINST” an outcome happening |
How does commission on betting exchange sites work?
The primary revenue stream for betting exchanges comes from a tiny winners commission. The precise figure varies across exchanges, although it often ranges from 2% to 5%.
If you want to know how much commission you will be expected to pay there is a relatively simple formula. It is calculated as follows:
Net Winnings x Market Base Rate x (100%-Discount Rate) = Commission.
A more simple way to explain it is like this:
((stake x odds) – stake) x commission rate = commission amount
Let’s say you want to bet on a football outcome. You have £150 to spend.
Italy at odds of 2.3 vs Hungary at odds of 5.4
Let’s say you made a stake of £150 on Italy to win the football match on an exchange platform that charges just 2%. The calculation itself would start to look a bit like this:
((£150 x 2.3 ) – 150) x 2% = commission amount
This commission amount will then be deducted from your overall winnings to understand what your profit is.
Does the commission value make a big difference?
Not all betting exchanges charge the same commission, so understanding how a betting exchange’s commission rate affects your profit is vital. By doing this, you’ll be able to compare prices and boost your chances of making a profit. Keep in mind that the odds with the best value always benefit you in the long run.
Let’s use the above scenario with two different commission rates. The example used 2% as the basic commission value. Let’s see what happens when you use a platform for the same bet that charges 5% instead.
The start of the equation is the same, until you get outside of the brackets and see the commission percentage.
((£150 x 2.3) – 150) x 2% = 3.9 (£3.90)
Becomes:
((£150 x 2.3) – 150) x 5% = 9.75 (£9.75)
As you can see, the difference between commission rates on just one bet is the difference between £3.90 and nearly £10. When your profit is expected to be high you won’t really notice the commission coming off of your profit. However, when your profit is only a small value you can definitely notice it a little bit more. If you’re able to go with the low commission betting exchange sites you’ll be able to save yourself a hefty amount of money over your betting career.