Best Betting Exchange Sites

Introduction to sports betting exchange sites

Betting exchanges provide the same betting possibilities as a bookie but with a few exceptions. These sites charge commissions on bets, so winning works in their favour because you wager more. The finest betting exchange sites offer significantly better odds than conventional fixed bookmakers, allowing you to win more on single and straight bets. In a peer-to-peer trading platform, you wager against other gamblers in betting exchanges. This eliminates the betting market's mediator, which means you won't have to worry about gamblers' bookie margins.

What is a betting exchange site?

A betting exchange site is usually referred to as sports betting exchange. It is a digital platform where users can place bets on the outcome of certain games.

Explanation of betting exchange terms

Backing or back bets:

Back betting is traditional betting in which you anticipate that a certain outcome will occur and wager on it at the odds you want to bear. Backers are bettors who place these wagers on the betting exchange sites. The 'layers' are those who place bets on an outcome that will not occur. For instance, if you wager on a horse to win the Melbourne Cup, you are gambling on that horse to win the tournament. You will risk your stake if it does not come first. You win if your horse finishes top. On all bets, you will be charged a modest amount.

Laying or lay bets:

Lay betting is a wagering option available on betting exchange sites such as Betfair. In this, punters can take on the role of the bookie and back something not to occur. Bettors provide odds to sell a bet rather than to back it. It is a type of matched betting in which bettors both back and sell bets on the same game to guarantee a win.

Matched betting:

Matched betting is a procedure that yields a profit mathematically from free bet advertisements offered by betting firms. This can be accomplished by placing several wagers on all possible outcomes of a sporting event. It is risk-free because it is based on a series of mathematical formulae rather than being left to chance.

A roundup of Top 5 betting exchange websites

Betfair exchange -  

The Betfair Exchange has been around for over twenty years and has over one million customers around the world who use it as an alternative for sportsbooks. The company has some of the greatest and most extensive promotional offers in the business. For instance, Betfair Exchange runs a terrific new player promotion. If your bet loses and you register an account and make an acceptable deposit, you will be entitled to a payback incentive of up to €/£30.

Betdaq -  

 Betdaq has been one of the most famous betting exchanges in the world since 2000. It stands out because of its low commission rate. The company offers some of the most reliable technology in the market, ensuring that its system remains stable regardless of the volume of wagering. Except for football, greyhounds, horse racing, cricket, and digital sports, the Betdaq commission is now 0% on all sporting events. For these marketplaces, the charge is only 2%. This is an excellent structure that Betdaq has implemented in the hope of gaining market share from Betfair.

Ladbrokes exchange -

 You can make lay wagers on the Ladbrokes Exchange site using a desktop computer or a phone app. On the site, there are about 15 sports offered, each with a good number of markets. Each time you win, you will be required to pay a 5% fee. This is a cost that you must spend on the exchange operator.

Matchbook -

Matchbook Betting Exchange is one of the most successful online betting exchanges and was founded in 2004. It is run by Triplebet Ltd, which has operating licenses in the United Kingdom and Alderney. The site mostly attracts bettors from the United Kingdom, Ireland, India, Finland, and Norway, but it also welcomes gamblers from over 40 other countries. The in-house sports gambling platform has cheap commission prices, several Asian Handicap selections, and services like Cash Out and Live Streaming. Wager commissions are how the betting website earns a profit. It only applies to wagers and is set at 2% in the UK and Ireland, while it is at 4% in the rest of the world.

Smarkets -

 Smarkets has been steadily increasing in popularity over the last few years, and it is now widely regarded as one of the best betting exchanges available. When you wager on this site, you can expect to bet on a range of sports and tournaments. There are 22,000 betting alternatives available for you to choose from. They also feature a section dedicated to suggestions, which lists all the best-handpicked picks in one place.

How to use a betting exchange site:

Betting exchanges work by bringing together bettors on a single platform. The site then levies a premium on net market earnings exclusively, with some traders receiving a branch-low 2% fee and others receiving a 0% commission.

This article will show you how to use top betting exchange sites in the UK. For this, three easy steps are listed below:

1.    Sign Up - Fill out the essential information to open an account with the betting exchange.

2.    Deposit into your betting account - This is simple, particularly with so many efficient betting payment options available.

3.    Take advantage of the Welcome Bonus - Betting exchange sites offer a variety of bonus offers and wagers. The highest welcome bonuses are usually offered when you initially sign up with the bookmaker, while some need you to place a deposit first. It is advisable to take advantage of the free bets since they provide you with additional funds to play with.

Pros & Cons of betting exchange sites:

Pros -

a) In comparison to traditional online betting services, betting exchange sites typically provide greater odds. Longshot bets, which usually have greater odds at exchanges, are more common in the case of betting exchange sites.

b) One of the most appealing features of betting exchange services is the ability to wager on a result that will not happen. This is a one-of-a-kind feature that cannot be found on ordinary online bookmakers. Lay betting allows bettors to act as bookmakers and profit from other wagers that are losing bets.

c) In the instance of betting exchange platforms, gains might be booked before the match has even begun.

Cons -

a) In comparison to traditional bookies, betting exchanges have reduced liquidity, finding it challenging in matching wagers.

b) Another significant drawback of betting exchange websites is the availability of incentives and awards. New users are typically offered bonus points such as free bets or deposit bonuses by standard online bookmakers. This is not the situation with exchanges, as they only offer a limited number of bonuses and incentive chances.

c) There are only a few betting exchange websites available. This acts as a limitation for these sites as many individuals still prefer to wager with traditional bookies.

Differences between online sportsbooks and sports betting exchange sites

4.    When wagering with a sportsbook, you can only wager on the odds they give. This includes their profit - which can be as large as 20% - indicating they are unfairly pricing markets to their advantage. Due to its origin as a peer-to-peer system, a betting exchange proposes more comparable odds than a sportsbook. It is because the market is controlled by supply and demand, leading to better and more competitive odds. This means that if you use an exchange over a sportsbook, you can earn more money for the same wager.

5.    By incorporating a margin into their odds, sportsbooks essentially earn money by managing their bets in a way that ideally permits them to make money regardless of the outcome. Betting exchanges can provide a significantly more accurate depiction. In addition, comprehend what betting odds indicate of each outcome's true possibility by not depending on margins.

6.    When gambling with a sportsbook, you can only back the winner. Betting exchanges enable users to both 'back' and 'lay' a result. To allow them to operate as a 'bookie' by establishing odds for a game or as a 'consumer' by backing the odds provided by other exchange customers.

7.    Trading on a betting market is, in theory, the same as trading on a stock exchange. The goal of trading in the marketplace is to ensure gain, minimize your risk, or reject a previously placed bet on the same market. Bookmakers do allow customers to use their payout button, however, this is limited to specific games and comes with an increased margin.

Bet exchange sites FAQs

What is the revenue model of a Betting Exchange?

Betting exchanges generate money primarily by charging a small fee on winnings. The actual percentage varies by each exchange, but it's usually between two and five percent.

In a Betting Exchange, how do I request my odds?

 You can ask for higher odds if you don't want to take the existing odds for a choice in a Betting Exchange market.