Betting exchanges offer you the ability to bet against other punters while setting your own odds and at lower commission rates than bookmakers. Some sites even feature in-play betting and cash out options!
There are currently five popular betting exchanges: Smarkets, Betdaq, Betfair and Matchbook. While each has similar features, their commission charges vary based on which exchange they belong to.
Smarkets provides customers with a convenient and fair platform to bet on sports and politics. As a betting exchange, customers can ‘back’ or “lay” an outcome, similar to how stock trading works – making it easier to find value bets that match up and make profits more readily.
Smarkets differs from many other betting exchanges by not offering casino or slot games on its site; instead, it specializes in key markets, like sports and political events – this approach has earned them an impressive standing among UK punters.
Customers can deposit and withdraw funds using various methods, including Visa debit, Maestro and Solo debit cards, credit cards, Skrill and Neteller. Furthermore, the company takes security seriously by employing Transport Layer Security and Secure Socket Layer protocols to protect customer data; additionally they maintain separate accounts for customer funds for further safeguarding of customer funds.
BETDAQ is an online betting exchange that allows punters to wager directly against other punters instead of bookmakers, offering various markets including those for lesser-known sports. There’s also a cash out feature on certain markets for further protection or increased profits – plus there’s even an accompanying mobile app!
BETDAQ’s user interface is straightforward and user-friendly, featuring a straightforward layout in purple and white colours with an accessible search function and simple layout. Furthermore, there’s even an interactive tips tab which takes players directly to a microsite where BETDAQ ambassadors like former Republic of Ireland international Tony Cascarino offer tips and information about smart bets regularly.
BETDAQ accepts various payment methods, including Visa and MasterCard, with its mobile app making betting even simpler on-the-go. Furthermore, its security measures include a secure SSL connection as well as an agreement with Ladbrokes Coral Group to manage customer funds on its behalf.
Betfair is the oldest and largest betting exchange, giving bettors an alternative way to wager without using bookmakers. Bettors who wager that an event will occur are called backers while those betting against it are known as layers; betting exchange markets display odds in blue (back) and pink (lay) boxes respectively.
Betfair provides an expansive selection of sports markets, from pre-match and live in-play betting to an exceptional mobile app that provides a comprehensive betting experience.
The exchange system eliminates traditional bookmakers, offering more favourable odds to punters. Furthermore, Betfair is known for offering generous cash out options on most markets and their customer service department is available by phone, email and live chat to answer questions regarding its exchange or sportsbook platform. Betfair does charge a small commission fee which can be reduced through Betfair points.
Matchbook offers an impressive variety of betting markets. This includes many sports and games as well as futures markets. In addition, Matchbook also provides live streaming of many events; furthermore it has an Insights section where pundits provide betting predictions and professional advice.
Betting exchanges offer an alternative to traditional bookmakers by enabling punters to wager against each other instead of just betting with them, allowing you to make a profit even when your bet loses through “laying”. By taking on the role of bookmaker yourself you may also get better odds than mainstream sportsbooks.
Once registered, a small window will appear with your account details and personal information. When complete, select a welcome offer such as free bet on an exchange market of your choosing; once selected, the system will calculate your bet totals before giving you total amount with which to place bets.