You have possibly landed on this page searching for betting exchange Australia, and most likely are looking for the best.
It’s a simple answer from a very short list. Betfair exchange is not only the best choice but also essential if you take any form of betting on sport seriously. With better odds and the world’s biggest betting exchange, you are guaranteed to feel the benefits of considering exchange betting for the future.
- The best market percentages
- Flexibility to choose your odds
- Winning punters never restricted or banned
What betting exchanges are there?
That's it. If you are in Australia and want to be able to use a betting exchange, Betfair is currently your only option. there are a host of other Australian betting sites you can use to make bets, but exchange betting is not part of the traditional bookmaker packages.
Betting Exchanges List Australia
Over in the UK there are more betting exchanges than here in Australia.
Betfair are coming up against some good competition in the form of Matchbook who used to takes bets here, Smarkets and a rejuvenated BetDaq Exchange
Whether these companies will ever launch officially in Australia remains to be seen
Matchbook exchange was active in Australia for a period of time but stopped accepting deposits or bets in September 2017. It left Betfair with a monopoly on betting exchanges in Australia.
Maybe they will come back at some point
Want to Trade Sports Bets in Australia?
Betfair remain the only choice since Matchbook left the market in 2017Check out Betfair Exchange
What Does Betting Exchanges Mean
A betting exchange is somewhere you can bet on sport but it is not like a traditional bookmaker or the tab as we know it.
Better Odds on Exchanges
Very often you will you can bet at bigger odds on the Betfair Exchange. Try it and compare prices for Horse racing, footy and moreCheck the Odds now
What’s the difference between a Betting Exchange and a Bookmaker?
How exchanges differ from bookmakers is you are betting against other punters and not against the Betfair.
Betfair is not offering you odds to bet, other users are offering the odds and offering you to bet with them directly.
It’s not quite as personal as it sounds, you will not know the particular person who takes your bet., Betfair acts as the intermediary, hosting the sales of the odds and the bets placed, and they take a commission on all winning bets.
Quite simply it is who you are betting against. With a bookmaker like Sportsbet, Neds, or Ladbrokes, you are betting against the company. They offer odds on sporting outcomes, you decide if you want to buy those odds or not, and place your bets.
Be The Bookmaker
You can lay bets on the Betfair Exchange, and be your own bookie. can you do better than the big boys? Laying bets is a strategy many profitable sports betting fans have come to adopt
The other great advantage of a betting exchange is that YOU can act as the bookmaker. If you think an outcome won't happen, you can LAY the bet yourself and take bets from other Betfair punters who think it will happen
How do Betting Exchanges work?
The way exchanges work is by hosting a platform whereby you can either back bets or lay bets on the exchange software. Winning bets pay a small commission, losing bets do not.
It is very simple once you’ve taken a little time to understand how it works, and the way Betfair as company work, is they take a small percentage of any wins as their commission. Effectively, they win on EVERY BET!
Betfair Exchange Commission
There is a small price to pay for betting at bigger odds, but check out the prices and even with that small payment you could still be getting more back on winning bets
Generally, odds are far better on the exchange as Betfair takes only 5% commission. Much smaller than the general profits bookmakers build into their odds on a day to day basis.
How to Trade on Betting Exchanges
Whilst the vast majority of punters will use Betfair to make Back bets, a large number will also use the exchange to lay bets. Backers need layers and vice versa.
In between, you have the traders. A growing band of shrewd punters backing and paying at the same time, often at a furious pace taking advantage of small, and large market movements that occur constantly on the exchange.
Trading - backing and Laying to Make a Profit
One great benefit of Betfair Exchange is the ability to back and lay (Trade) bets, and ensure a profit whatever the outcomeRead more about trading
They will perhaps back at a price whilst it is moving in and getting shorter, and then, as Betfair offers many more fractions of prices than bookmakers, the traders can strike when the price moves fractionally in and lay at a lower price, thus locking in a profit, and removing any stake liability.
Trading on the Betfair exchange can be fun and exciting, not to mention profitable for those with much practice and skill under their belt.
It is not quite as easy as it sounds, so I would recommend, reading up, learning and practising with small stakes before trying to trade on a betting exchange.
Betfair Exchange Commission
I’ve mentioned the commission above.
This is how Betfair makes it’s money and is essential for the exchange to maintain its profitability and therefore offer a service to us the punters.
The good thing with Betfair is that they take commission only on winning bets. So if you were to act as the bookmaker and lay a bet and lose, you wouldn't have to pay any extra commission.
By the same token, if you backed a horse to win, and it didn’t that's it, your lost stake is all you can lose.
How much is the commission rate on betfair in Australia?
This will depend on which state you are located, or indeed which sport you are betting on. Rates can differ relating to these variables, so make sure you check the rates on the Betfair site to understand what they are before betting.
However, if you have a winning bet, then you will have to pay a % of your net profit as commission to the exchange. It is important to factor this in when making your bets..
Betfair generally offers better prices than normal bookmakers, but at the lower end of the prices, with say strong favourite at home in the footy, or very short favourites in horse racing, actor in that 5% commission just to make sure you are getting a better price after the commission is considered.
Matched Betting and Exchanges
Matched betting is becoming more and more popular in Australia and the reason is that it is possible, if you are very careful, to make a small profit consistently by betting with both a bookmaker and an exchange at the same time on the same event.
In most cases, it is arbitrage betting in its purest form, although it can get a bit more technical than that.
Either way, a betting exchange is key in the armoury of a matched bettor.
You will need Betfair for Matched Betting
You'll probably need Betfair when your other accounts get closed for matched betting too. - Matched betting often leads to betting account closures.
Betting Exchanges Related Questions
Betting Exchanges FAQ's (AU)
Why is there no competition to Betfair in Australia?
At this stage, there is only one legally operating betting exchange in Australia and that is Betfair. There may be many reasons why other exchanges such as Smarkets or the Ladbrokes owned BetDaq haven't entered the market. This may be due to research undertaken and a decision that could not make a good business decision to launch in competition with the far stronger Betfair brand.
How does Betfair make money?
The betting exchange betfair makes money by charging a small commission on any winning bets. This starts at 5% but can be decreased slightly by regular use. There is a premium charge which is far more expensive but in complicated terms comes down to the number of bets made and a ceiling of a certain value of profit being made.
What is the best betting exchange?
The best betting exchange in terms of number of customers is Betfair. In fact, narrowing things down across different aspects of an exchange betfair would also win many. In Australia there is only on exchange available, so we have to think ourselves lucky it also happens to be betfair!
Is betfair Legal
Betfair operates under Tasmanian gaming license and as such is a legal betting site on which to register and making bets on sporting events and other activities.