The Best Betting Exchange Sites in the UK in November 2024

Liam Austen-Rondi

Senior Betting Writer

Updated: 7 June 2024

Betting exchange sites offer a unique platform where you take on your fellow punters rather than the bookie. You can back or lay outcomes, setting your own odds. We’ve scoured the UK betting exchange market to bring you the top platforms for June 2024, helping you find the perfect exchange to place your bets.

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[17111,17083]

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You can only take part in this offer if you are not an existing or a previous Betfair account holder. This offer is available to accounts registered in United Kingdom, Rep of Ireland. What do I need to do? Open a new account using promo code ZSKANH. Verify your number by SMS. Deposit a minimum of £10 using a Debit card. Place a minimum £10 football bet on the Betfair Sportsbook. Min odds 1/2 (1.5). Qualifying requirements must be completed within 30 days of account opening. £10 Sportsbook free football bet builder will be awarded after the qualifying bet has settled. £10 Sportsbook free football bet builder will be awarded the next day after the qualifying bet has settled. A second £10 Sportsbook free football bet builder will be awarded the second day after the qualifying bet has settled. All rewards are valid for 30 days after they have been awarded.  Unmatched, unsettled or voided bets will not count towards this promotion. Excludes ‘same market’ bets placed on the Sportsbook. Free bet stakes are not returned with winnings. Bets placed using free bets as the stake (in full or in part) will not qualify. You’ll be able to see details of your free bets in the ‘My Bonuses’ tab which can be accessed at the top of the website. If we find that you have taken part in this promotion using a duplicate account or that you have used more than one account to participate, we reserve the right to withhold your free bets and any winnings earned on the duplicate account. Cashed Out or Partially Cashed out bets are excluded from the promotion. The offer excludes the following bet types: Canadian, Goliath, Heinz, Lucky 15, Lucky 31, Lucky 63, Patent, Super Heinz, Trixie & Yankee.  To complete Phone Verification you must have a device capable of receiving an SMS. Betfair standard promotional terms apply, see here

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Top Betting Exchanges in the UK

With a fair few options out there, let’s dive into our best betting exchange sites that UK punters can use to place their bets:

1. Betfair: The UK’s first-ever betting exchange is still leading the way, with a huge market selection and high liquidity across most sports.
2. Smarkets: This exchange has low commission rates and a great interface, making it a favourite for both beginners and experienced traders.
3. BETDAQ: Renowned for its focus on horse racing, BETDAQ offers competitive odds and a range of features suited to racing fans.
4. Matchbook: This exchange is definitely for a more niche audience, particularly those interested in US sports, with competitive commission rates on those markets.

The Best UK Betting Exchanges in Detail

Now we’ve run you through our list of betting exchanges, let’s dive deeper into what each betting exchange site offers, looking at their unique selling points, pros and cons and more to help you make the right choice.

1. Betfair: Best for Market Variety and Liquidity

Betfair was the first to launch a betting exchange. It is still one of the very best and has become a major player in the UK market. It has an unparalleled range of markets across all major sports, from football and horse racing to cricket and tennis. The platform’s high liquidity ensures that you can usually find bets at your desired odds – especially on popular events.

Beyond its market coverage, the Betfair betting exchange offers loads of fantastic features, including live streaming, in-play betting, cash out, and the Betfair Exchange app for betting on the go. The platform also offers some educational resources for betting exchange newcomers.

2. Smarkets: Best for Low Commission and User-Friendly Interface

Smarkets has carved a niche for itself by offering some of the lowest commission rates on the market compared to other exchange betting sites, making it a cost-effective option for regular traders. The platform’s sleek and easy-to-use interface is appealing, making it easy for both beginners and experienced bettors to navigate. It’s a great Betfair alternative if you want something different.

The Smarkets betting exchange also offers a range of features to boost the betting experience, such as live scores, detailed statistics, and a bet builder tool. The platform also has a strong focus on responsible gambling, with various tools and resources available to help users stay in control.

3. BETDAQ: Best for Horse Racing Enthusiasts

BETDAQ has established itself as a top horse racing betting exchange. The platform offers competitive odds and extensive coverage of horse racing events from around the world. The BETDAQ betting exchange also has specialised features for racing enthusiasts, such as live streaming, race replays and detailed form guides.

BETDAQ’s commitment to horse racing also shows in how its commissions work, with discounted rates on racing bets. They also offer a “Best Odds Guaranteed” promotion on UK and Irish horse racing, making sure that you always get the best possible price.

4. Matchbook: Best for US Sports Fans

Matchbook has positioned itself as the go-to exchange for fans of US sports. The platform offers excellent coverage of American football, basketball, baseball, and ice hockey, with competitive odds and low commission rates on these markets.

The Matchbook betting exchange also provides live streaming of select US sporting events and features a dedicated mobile app for betting on the go. The platform’s interface is clean and easy to navigate, making it a good option for both beginners and experienced punters.

Best Betting Exchange Sites Compared

Choosing the best betting exchanges UK sites depends on your individual preferences and betting style. Our table highlights the key features of our top picks and makes it easier to see which platform best suits you.

Best Betting Exchange Offers

The best betting exchange sites offer promotions and incentives to draw in new punters and reward loyal users. Let’s take a look at some of the best betting exchange offers:

What Makes a Top Betting Exchange Site?

When reviewing betting exchange UK sites, we consider a range of things (see How We Rate Boomakers) to make sure we only recommend the very best platforms to our readers. Here are some of the key features we look for specifically in exchange betting sites:

Exchange Betting and How It Works

What is a betting exchange? Well, they’re a bit different from regular online bookmakers. Instead of betting against the house, you’re betting against other punters. It’s like a marketplace where you can back an outcome (bet on it to happen) or lay it (bet against it).

This concept kicked off in the early 2000s with Betfair and has become a massive hit. Why? Because it gives you more control and often better odds than traditional bookies. Plus, you can even become a bookie and lay bets yourself.

Here’s why people love exchange betting:

And that’s it! You’ve successfully laid a bet. Remember, if the outcome you laid doesn’t happen, you win your stake. But if it does happen, you’ll lose your liability.

Exchange Betting Tips

Betting exchange sites are a whole different ball game compared to traditional bookies, so you’ll need a few tricks up your sleeve to make the most of them. Here are some tips to help you score big:

Go Green

Ever heard of “greening up”? It’s the holy grail of exchange betting, where all your bets are showing a profit. It’s like having a winning streak on every bet, no matter what happens. To achieve this, you need to play both sides of the field, backing and laying the same outcome at different odds. It takes practice, but it’s a surefire way to boost your profits.

Cash Out Like a Pro

Think your bet’s a definite loss? Don’t panic! Cash-out lets you settle your bet early and either lock in a profit or cut your losses. Exchanges usually offer this feature, so use it wisely. 

Be a Trading Master

Exchange betting isn’t just about placing a bet and hoping for the best. You can trade bets like stocks, buying low and selling high. It’s similar to being a stockbroker, but with sports. Keep an eye on the odds and pounce when you see an opportunity. It’s not for the faint of heart, but it can be seriously rewarding.

Stick to the Big Leagues

Some markets are more popular than others, and that’s where the action is. Stick to the big events and markets where lots of people are betting. This means you’ll find more opportunities to trade and cash out, and you won’t get stuck with a bet that no one wants to take.

The Green Screen

So there you have it! Betting exchanges are a thrilling alternative to traditional bookies, offering more control, better odds, and the chance to explore new betting strategies. Whether you’re a seasoned pro or just starting out, exchanges can open up a whole new world of betting possibilities. Remember, it’s not just about luck. It’s about knowledge, strategy, and a little bit of daring. Now go and master the exchanges, and may your screen always be green!

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Liam Austen-Rondi

Senior Betting Writer

Liam Austen-Rondi is a seasoned writer in the sports betting and gambling industry. After starting his career writing SEO content, Liam moved into copywriting roles with Bally's Interactive, where he spearheaded major rebranding and tone of voice projects and helped launch award-winning websites, as well as with industry-leading PR and marketing agencies. Joining Safestbettingsites.co.uk in 2024 armed with a wealth of knowledge and a passion for responsible gambling, Liam provides insightful perspectives on safe and enjoyable betting.

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