Betting Exchange Sites: Best Exchange Sites Ranked – Nov ’24 | Goal.com UK

Betting exchanges are becoming increasingly popular in the UK, among both bookmakers and players alike.

However they can be complicated and a touch daunting for first time users who may not know exactly what is going on.

Learn all about what a betting exchange site is, how they work, how to bet on them, and their benefits with our guide, as we go ranked the best betting exchange sites so you know exactly which sites are the best to use for your exchange betting in the UK.

Best Betting Exchange Sites – November 2024

Top 5 Betting Exchange Sites Ranked

Betfair Exchange

Betfair exchange is perhaps the most well known exchange betting site in the UK, and it is because of this reason that they top our list.

Given the fact you’re playing against other people, the more players that frequent the exchange the more likely you are to be able to find matched bets, and therefore be able to place the stakes you want.

More liability in the exchange gives players more chance to have their entire stake matched when betting on a specific market.

This also extends to how high the odds can rise, because there are more people to be driving up the prices of markets.

Those placing lay bets will want their bets to be matched and so are more likely to increase their odds, whilst players placing back bets are given access to better prices than those on offer with bookmakers.

This is where the benefits of the Betfair Exchange lie, as players have the best chance of seeing their bets matched and the best spread of odds given how many people use the exchange.

Smarkets

Smarkets’ interface provides one of the best user experiences around, and makes playing on their exchange markets simple and easy.

Their platform is straightforward and has an ease of use that makes the betting experience uncomplicated and effortless.

They also provide handy graphs and visualisations of the market and its movements, giving players a good overview of any changes in prices.

Smarkets also possess an impressively wide range of sports betting options from football and horse racing to tennis and US Sports, allowing players to find exactly what they are looking for.

Smarkets also offer the best betting exchange sign up offer, giving players the chance to trade with 0% commission for 60 days from a £10 deposit.

SpreadEx

SpreadEx are another excellent option for players looking for a betting exchange site as they provide users with an impressive range of sports betting options.

Users can find an array of sports that cover everything from the top football leagues to horse racing events from across the globe.

They also provide some particularly strong odds in comparison to other betting exchange sites.

New customers can also claim an exemplary welcome bonus, being able to claim a massive £40 in free bets off of just a £10 stake. This is a high amount of returns from all betting sites and not just betting exchanges.

Matchbook

Matchbook are one of the most experience betting exchange sites on the UK market having first launched in 2004, with this apparent in the quality of their site.

Their site is extremely well presented, with players able to find all of the markets they want to bet on in seconds when starting at the home page.

They cover as many as 15 markets, covering a range of sports as well as the likes of Politics and TV/Film Specials.

Their sign-up offer allows players to get 0% commission for a huge 110 days, which trumps their usual commission rate of 2%.

They also have an ‘Enhanced Specials’ section that allows players to both back and lay boosts and specials offered by bookmakers from all across the UK.

Their MB Zero section allows players to place one bet per event on any football and horse racing markets, with these offering zero margin and zero commission, making them one of the best places to bet sports via an exchange in the UK.

easyBet

easyBet are a brand new exchange site having first launched in the UK in October 2024, and given they’re partnered with Matchbook, it won’t come as a surprise to hear they boast a site that’s very easy to use and offers all you need to bet on sport online via an exchange.

15 markets in total are offered, covering everything from football and tennis to horse racing, golf and greyhounds, with all of these easily accessible via the sidebar on their home page.

This home page displays all of the day’s biggest sporting action from around the world, providing users with easy access to the biggest games and events taking place that day.

They, similarly to Matchbook, also have an Enhanced Specials section that provides users with the ability to lay or back boosted markets to get the best odds possible.

Their sign-up offer gives users £20 in free bets to use in their exchange, with this being one of the only exchange offers that allows new players to claim free bets in the UK.

UK Betting Exchanges Compared

Basics of Betting Exchange Sites

Exchange based betting sites are based on quite a simple idea. Instead of betting against a bookmaker, commonly referred to as the house, you are betting against other players and punters like yourself.

In its simplest form you are either betting on the chances of something happening or not happening. And the other players are doing the same.

One of the benefits of this however, is that you can get higher odds than the bookmakers offer, because other players are setting them not the house.

Betting on the Exchange

Betting on the exchange is done in the style of a stock market, with players only getting two options when placing their bets: back or lay.

If you are backing something you are betting on the event to happen, e.g. if you place a back bet on Man United to beat Chelsea, your bet will win if Man United win the game.

If you are laying a bet, you are betting against something happening e.g. if you’re betting the lay market for Man United to beat Chelsea, your bet will win if Man United draw or lose.

Players are then able to match themselves up against other users who think the exact opposite, with the bet then being set.

Backing

If you are betting on the chances of something happening, like a team to win a match or a player to score a goal, you’ll be betting on the back option.

You are doing this against another player, and therefore will receive better odds as those who you are betting against have more confidence in their selection than the bookmakers do.

When ‘Backing’ a bet you will choose the odds you want to play at and the stake you want to risk.

This will then be matched with another player on the exchange who has bet on the lay option.

Once this is done the bet is set, and you’ll win according to the odds and stake that’s specified.

Your ‘Back’ isn’t guaranteed to be matched with another player, if it is not then your stake will be refunded back into your account as cash.

Laying

Being the ‘Layer’ means are betting on the chances of an outcome not happening. This can be a team to not win a game, a player not to score or a horse not to win, with this seeing the user play the role of the bookmaker.

Here you set the odds and the stake amount. But your account must have enough in your account to pay out the full amount of the Lay.

If you place a lay £10 bet at odds of 6.0, you must have at least £50 in your account to be able to pay the full returns to the ‘Backer’.

While ‘Laying’ may be a touch more complicated than ‘Backing, the odds are in theory most heavily weighted in your favour.

This is because you are betting on every other outcome, whereas the ‘Backers’ are only betting on one outcome occurring.

If you were to ‘Lay’ a bet on a side not winning the match, then if they lose or draw you win, but the ‘Backer’ needs that side to win.

Again, if you ‘Lay’ a bet there is no guarantee it will be matched, and if it is not then you will not lose any funds with the money being returned to your account.

Betting Exchanges: Pros and Cons

Betting Exchange Sites FAQs

What are betting exchange Sites?

A betting exchange site is one where the players are betting against each other instead of the house or bookmaker.

This is done through a series of back and lay bets, and users can often see impressive prices and odds.

What is the biggest betting exchange in the UK?

By far the biggest betting exchange in the UK is Betfair. This is a benefit to users as the more players that frequent the exchange the higher the chances of getting matched bets are.

As well as with a greater number of users the likelihood of seeing the best odds is higher.

How many betting exchanges are there?

There are a handful of betting exchanges available to users in the UK, with the best of these listed in our table above.

What % commission so exchange betting sites charge?

Commission is how betting exchange sites make their money. They will take a small percentage of the profit in your winning bets, with this normally being between 2% and 5%.

Smarkets however offer players 0% commission via their sign up offer.