Experienced sports journalist and editor covering multiple aspects within the sports and betting industry. A football, NFL and rugby specialist, he is a judge at the Football Content Awards.
Betting Exchanges UK Sites List
These are the best betting exchange sites in the UK based on data collected by our expert team from the UKGC-licensed bookmakers listed on OLBG.The list below contains the five main reliable betting exchanges available to UK customers. If you are looking for the best betting apps based on all factors then head to our main betting sites page to see all UK bookies listed in order of user review.
- Ranked #1 For Footy Accumulators
- Bigger Odds with Betfair SP
- Must have account for Arbitrage Betting
- Live Odds Data, Charts, and Graphs
- Better Odds With Low Commission Rates
- Superb Smarkets Betting App
- Exchange Multiples Available
- Innovative Promotions
- Must Have Account for Arbitrage Betting
- Rated #1 Alternative to Betfair
- 2% Commission For All Sports
- Matchbook Accumulators Now Available !
Best Betting Exchange Sites and Why
1. Betfair
Still the best betting exchange out there and must have for exchange punters and traders. Betfair has the most markets for any exchange site and plus huge liquidity. There is 5% commission on wins only, but we’ll dive into that in depth later on (as well as all four commission rates). Betfair exchange is perfect for traders getting huge odds on outsiders, and it’s incredibly easy to switch to the sportsbook or casino if you’re after that.
Some people want to avoid Betfair because of the association with traditional bookmaking and other business partnerships. We would say don't let that put you off, but if you are looking for an alternative, the other exchanges mentioned in this article are all worth interest too.
If betting in-play is a consideration, again Betfair, due to the sheer weight of bettors, is an account that you should sign up for. They have far more events covered, lesser events, and deeper market coverage. You will also find that within the less popular events, and markets, where other exchanges struggle to have any liquidity, and in some cases, none at all, Betfair will remain pretty strong with markets forming many hours ahead of their rivals.
If you’re looking specifically for welcome offers or free bets you can head directly to the Betfair free bets page.
Pros
- The most markets across betting exchanges.
- Huge odds on outsiders.
- Fantastic for in-play betting.
- Plenty of promotions.
Cons
- 5% commission rate (highest out there).
2. Smarkets
Of all the exchange sites, Smarkets has the best app, so bear that in mind if that is a big consideration point for you as a bettor. They have low commission rates and offer a brilliant alternative to the others, mainly thanks to how slick the app is. There are a tonne of statistics, live odds data, different graphs and infographics, all to help inform bets.
Smarkets has always been rated highly by OLBG members, consistently matching the previously available Matchbook and BetDaq exchanges in our users' eyes. You will find a section later on in the article explaining why you need a second exchange account if you are an active sports betting trader, and the recommendation in the absence of Matchbook is to open and use a Smarkets account.
If you’re looking specifically for welcome offers or free bets you can head directly to the Smarkets free bets page.
Pros
- Incredible, market-leading app.
- Detailed level of statistics and data to support betting.
- Great infographics and data tables.
Cons
- Limited promotions.
3. BetDaq
BetDaq concentrates on low commission rates, with a wide range of betting options available. They also offer up a load of innovative and creative promotions, and is a must-have for people who love arbitrage betting. On top of that, BetDaq definitely matches its competitors in terms of supporting statistics alongside the market display, and out of the four sites BetDaq should be your go-to for exchange multiple betting. You can place doubles, trebles and other multiples on their exchange, as well as offering interesting betting and trading articles, with market mover information
Only charging 2% commission, compared to 5% on Betfair, gives a decent enough reason for customers to sign up for a Betdaq account. Over a year that lower 2% can make a big difference to your annual profits. On £50 profit you would only pay £1.00, compared to a maximum £2.50 on Betfair.
If you’re looking specifically for welcome offers or free bets you can head directly to the BetDaq free bets page.
Pros
- Low commission rates.
- A must-have for people who love arbitrage betting.
- Best for exchange betting on multiples.
Cons
- Not as many markets as others in this list.
4. Matchbook
In the past, Matchbook has been the most generous of all the exchanges with regular 0% commission welcome offers which plays well against Betfair being the highest commission rate at 5%. The design is more modern than Betfair although not at all dissimilar at the same time. I would have to say navigation between markets is considerably quicker.
Matchbook has comparable liquidity to Betfair on horse racing and major events, while the app, and site, has a slick feel across its platform. The low commission rates make it an excellent option, and they even do a brilliant and influential podcast that is well worth a listen.
If you’re looking specifically for welcome offers or free bets you can head directly to the Matchbook free bets page.
Pros
- 0% commission welcome offers.
- Fantastic podcast sets it apart.
- Nice app navigation,
Cons
- No live streaming.
5. EasyBet
EasyBet is the newest exchange site to the UK gambling industry and makes a solid start. You get the sense that it has launched to test the waters and will add, tweak and improve as time goes on. It doesn't have the same number os sports or events covered as Betfair, for example, but can absolutely compete with other exchange sites when it comes to odds available and I was pleasantly surprised by the amount of money in the markets. There isn't a lot in the way of promotions, but the Enhanced Specials are a nice touch and I can't find anything in the way of live streaming. That said, this feels like a solid introduction to the market.
If you’re looking specifically for welcome offers or free bets you can head directly to the EasyBet free bets page.
Pros
- Some nice enhanced specials.
- Very competitive odds
- Clean, organised site and decent mobile design.
Cons
- No live streaming.
- Not as wide event coverage as other exchange sites.
What Do You Want From Your Betting Exchange?
It's still worth considering exactly what it is that you're after as a bettor. Different users will want different things from their bookmaker, and that still applies to exchanges. With that in mind, the below outlines why some users may choose one over the other, despite our overall scores cross the board.
The reality is, it suits you as a bettor to have more than one exchange account.
| Exchange site | Best for... |
|---|---|
| Betfair | Availability of markets and liquidity |
| Smarkets | Low commission rates |
| BetDaq | Exchange multiples betting |
| Matchbook | Exchange accumulators |
| EasyBet | Enhanced Specials |
What is Exchange Betting?
What is Exchange Betting?
With a standard bookie you are taking a bet from the house (the bookie in question), but with exchange betting you are betting with other bettors, and use the betting exchange as a platform where two bets are brokered. You can back a bet, or lay a bet, with different prices for each. The “lay” is more like a traditional bet with a bookie, so with exchange betting (and this is simplifying it somewhat) you can place a bet, or be the bookmaker. To find out more, and digest in more detail, head to our Betting Exchange Guide.
Betting Exchange Commission Rates Comparison
You can see from the table below the lowest commission rates of the UK betting exchanges listed however, each commission rate works slightly differently from others.
To help understand these rates more completely before deciding to open a new betting exchange account, and who with, we offer fuller explanations on betting exchange commission rates in the next sections.
| Betting Exchange Site | Basic Commission Rates | Paid |
|---|---|---|
| Smarkets | 2% | On Wins Only |
| BetDaq | 2% | On Wins Only |
| Matchbook | 2% | NetWin |
| Betfair | 5% | On Wins Only |
We thought it would be helpful to find a full commission rate comparison for betting exchange sites in one place, as when we were researching for this article we couldn't find one online.
We present the basic commission rates for UK Betting Exchanges in the table above, and then in subsequent sections go on to explain them in further detail, exchange by exchange.
Betting Exchange Commission Comparison Example
Let's compare a simple football bet on the exchanges to see how the commission rates affect your nett return
We are 'back' betting on an outcome in a betting market to win at odds of 3.00 with £50 stake to win £100.
| Exchange | Bet Wins - Profit | Bet Loses - Loss |
|---|---|---|
| Betfair** | £100 - 5% = £95.00 | -£50 |
| Smarkets | £100 - 2% = £98.00 | -£50 |
| BetDaq | £100 - 2% = £98.00 | -£50 |
| Matchbook | £100 - 2% = £98.00 | -£50 |
** The Betfair Commission rate can be lower than 5% depending on the discount rate you have earned through your betting activity with them.
** By opting into My Betfair Rewards you as a customer will have the choice of reducing the standard commission rates.
Explained in Betfair section below
Betfair Commission Rates
Stay with me here.
Every bet you make will earn you Betfair points. These add up and equate to a commission discount rate.
This discount rate is then set against the standard 5% in calculating the commission you pay on winning bets only.
- If you win £400 with 5% commission you will be charged £20 commission on that bet.
- If you have earned a 10% discount rate you will be charged (£400 x 5% = £20) - 10% = £18
It's quite simple to understand but worth reading up on. Simply, the more you bet, the more points you earn, and the bigger discount you receive.
Be aware that there is a 15% reduction of your discount rate on a weekly basis, You can freeze this for one week every three months, but unless you are betting huge amounts, it's probably not worth spending too much time on figuring out the minimal benefits.
Up to £20 Back AS CASH if your First Exchange Bet Loses
Max £20 refund on first bet. Bet must be placed in first 7 days of account opening. Payment restrictions apply for the promotion. T&Cs.
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My Betfair Rewards
You can choose a package of rewards enabling you to benefit from how you use Betfair.
One of the options is a reduced exchange commission rate, but you do have to sacrifice some promotions, BOG, and other Betfair features.
You do need to choose a package otherwise one will be allocated to you.
Smarkets Commission Rates
You can't beat a bit of simplicity!
Oh, there is also a 1% commission level too.
This 'Pro Tier' Commission rate is for users making more than 1500 or staking more than £1,000,000 each calendar month. I'm guessing this is not you, but if it is, OPT IN to half the commission you are paying.
But in another late plot twist, the 1% is applied to each matched bet, either on the profit value or the loss depending on the outcome.
Trade with 0% commission at Smarkets for 60 days
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Betdaq Commission Rates
With BetDaq, a nice, simple 2% is applied as a 'normal commission rate' - It's unlikely that you will fall outside of this band, as exceptions are generally commercial entities.
So, just the 2% paid on any nett winnings. Nothing payable if a nett loss has been made on the market.
It's a lower rate than Betfair, comparable that you only pay on profit, so head to head, BetDaq come out better.
Check out the Betfair v BetDaq section below for more direct comparisons between the two exchanges.
0% Commission on ALL SPORTS for 100 Days
New 18+ Customers only. 0% commission on all exchange sports for 100 days. Promo code 0COMM100 must be entered during registration. Offer only available to users who deposit via debit card. Standard 2% commission rate applies on 101st day. Not available to API, RDT or trading software customers. T&Cs Apply.
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Betting Exchange Liquidity Compared [Football]
Often betting exchanges are lauded for offering better prices in comparison to traditional online bookmaker sportsbooks. This is often the case and is backed up with the information on the event chosen below from the best odds bookmaker for the event.
However, if the liquidity is not present at a better price then it is a false scenario and the sportsbook is the better place to make the bet.
Choosing the Nations League Semi-Final between the Netherlands and England as an example and looking specifically at the price to bet on the Netherlands we find the following price and liquidity comparison information.
I have added BetVictor's current best price on the Netherlands also for comparison against sportsbook pricing too. I use BetVictor as they are usually the best-priced bookie for football betting as you can see from this odds comparison guide which shows which bookmaker is best for football betting odds as well as lots of other sports.
Best for Backing with Big Stake Liquidity - Betfair
You could bet £2187 on the Netherlands to win at odds of 3.00 with Betfair, whereas with BetDaq, you could only bet £796 on the lower price of 2.98
Best for Laying with Big Stake Liquidity - Smarkets
Whilst the lay price was the same across the board, you could lay over £5k with Smarkets at the general price of 3.05
BetDaq didn't do well in this comparison
The POOR Liquidity available on this market at BetDaq was a standout. With just £796 available to bet at the lowest back price, the alternatives both offer a better backing option
Likewise, whilst a lay is available at a competitive price, only £118 is waiting to be matched, against over £1400 with Betfair and a huge £5k with Smarkets
What is Liquidity on a Betting exchange?
Liquidity is the amount of money available to bet either with or against in a betting exchange market. Liquidity is both the price available to 'back' or the amount of 'back stakes' available to lay at. For more information on how betting exchanges work, check out this betting exchange guide.
Betfair v Smarkets
We feel that Smarkets as a company is going places with their distinctive offering making them stand out from their competitors.
Commission
With their simple 2% on profit against Betfair's 5%, obviously, Smarkets get the vote. Simply it is cheaper to win on Smarkets than it is on Betfair but liquidity comes into play here as covered in the liquidity section for Smarekts below. The prices available on the two exchanges do not differ enough to close the value gap at small stakes. This is where liquidity will come in. Design and User Experience
Liquidity
If you want more money on a bigger price to get bigger profits, then it is possible this can be achieved on Betfair which negates somewhat the difference in the commission rates. We have not gathered enough information to have a worthwhile comparison to give an exact parity at differing stake and profit levels
Positives:
- An open transparent company with new ideas that is trying to bring a fresh approach to exchanges,
- Smarkets seems to be targeting the mobile generation and new bettors (Millennials).
- Quirky and interesting betting content.
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Betfair v Matchbook
Matchbook are an alternative to the Betfair Exchange and have great liquidity. Let's take a look and see how they come up against Betfair in a head to head.
Commission
In the past, it has been the most generous of all the Exchanges with regular 0% commission welcome offers which plays well against Betfair being the highest commission rate at 5%
Design and User Experience
The design is more modern than Betfair although not at all dissimilar at the same time. I would have to say navigation between markets is considerably quicker.
Liquidity
So, in terms of depth of liquidity, then Betfair will almost always come up trumps, but as we have seen in the football example above, there was not a distinct upper hand held by Betfair. By the same token, I took a quick snapshot of the next available UK Horse race for this Betfair v Matchbook comparison and found the following on the back side with exactly 10 minutes until the scheduled 'off' time.
| Horse | Matchbook | Betfair |
|---|---|---|
| Horse 1 | £210 | £284 |
| Horse 2 | £39 | £56 |
| Horse 3 | £85 | £74 |
| Horse 4 | £79 | £27 |
| Horse 5 | £45 | £30 |
| Totals | £503 | £471 |
Matchbook did, in fact, have marginally more money at the point of the snapshot in the back side of the market than Betfair did, and it is worth noting that 4 of the 5 prices were identical at the time.
What was noticeable, however, is the activity was more frenetic on matchbook 10 minutes before the off than Betfair. A note that perhaps traders might be interested in.
Positives:
- Comparable liquidity to Betfair on horse racing and major events.
- Slick and quick platform with a familiar feel.
- Low commission rates.
- Brilliant and influential podcast (worth a listen).
Get £30 in Horse Racing Free Bets when you bet £30
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Betfair v BetDaq
The Purple one as they are known due to their website colouring is the longest running challengers to Betfair's betting exchange dominance. They are working tirelessly to compete and have introduced a range of innovative concepts.
Commission
As covered above, only charging 2% commission, compared to 5% on Betfair gives a decent enough reason for customers to sign up for a Betdaq account. Over a year that lower 2% can make a big difference to your annual profits. On £50 profit you would only pay £1.00, compared to a maximum £2.50 on Betfair.
Design and User Experience
But for those around in the very early days of Exchanges, one might feel like they have gone back in time, as back in the day, the two platforms looked very similar. Betfair has moved forward in the display of the exchange whereas looking at BetDaq today is like fond memories of days gone by on Betfair. It really hasn't come on
Liquidity
Well plainly with a far superior customer base Betfair will beat its rival hands down 'most of the time'
As we saw in the football example earlier in this article, BetDaq performed very poorly in terms of money available in the market, and for a popular event too.
BetDaq used to be the first alternative to Betfair, but rather than Smarkets taking Betfair's share of the market, I think they have eaten into Betdaqs share more
Positives:
- Low commission rate. Zero commission promotions.
- The ability to place multiples, doubles and trebles on the exchange.
- Interesting betting and trading articles, market mover information.
Betfair v Betdaq Summary
The one light BetDaq has is the ability to place multiple bets on the exchange, something Betfair did away with some time ago. Other than that, BetDaq fails to match the market leader in any other aspect
0% Commission on ALL SPORTS for 100 Days
New 18+ Customers only. 0% commission on all exchange sports for 100 days. Promo code 0COMM100 must be entered during registration. Offer only available to users who deposit via debit card. Standard 2% commission rate applies on 101st day. Not available to API, RDT or trading software customers. T&Cs Apply.
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Why Everyone Needs More Than One Exchange Account
Having more than one betting exchange account is 100% essential if you are using the exchange to trade.
Traders do not bet in the same way as normal punters and as such need absolute security that they can have access to a market at all times.
Whilst betting exchanges are generally very reliable, it is inevitable that they will have some technical failure or downtime at some point.
Not a problem if you have placed your bet to win, and that is all you are using the exchange for, but if you are taking trading positions, then it is likely you will have high sports trading liabilities for at least a short period of time.
If the exchange you are trading on goes down at a point when you are in a high liability open position, you will have no way of closing.
This is where your second betting exchange account comes to the rescue. call it the 5th emergency service, if you will!
A Simple In Play Trade on a Betting Exchange
Betting exchanges and Betfair, in particular, introduced the concept of in-play betting. With events going in play you can make a profit before an event finishes, and profit on all outcomes.
E.G: If you have backed Arsenal at 3.0 selection to win the game, and Arsenal scores in the first 10 minutes their price will shorten. The other options of the draw and the away team Manchester United will get bigger, you may see a scenario as below.
Pre-Match Betting Exchange Odds
- Arsenal 3.0
- Draw 3.25
- Manchester United 2.75
- Total Odds Percentage: 100.47%
Arsenal score after 10 minutes
In-Play Betting Exchange Odds:
- Arsenal 1.8
- Draw 3.75
- Manchester United 5.5
- Total Odds Percentage 100.40%
But remember you have already backed Arsenal at 3.0. So your Exchange odds now look like this:
- Arsenal 3.0 (Price already taken)
- Draw 3.75
- Manchester United 5.5
- Total Odds Percentage: 78.18%
We know that when odds on an event add up to less than 100% a profit can be made by backing all selections. Having backed Arsenal at 3.0, you can now back the other options or lay Arsenal to guarantee you a winning outcome on a betting exchange.
This is betting heaven compared to 20 years ago. In this day and age, all bettors should have at least 1 Betting Exchange account, click any of the links to sign up today.
How OLBG Reviews and Rates Exchange Betting Sites
Are you looking for the perfect exchange betting site? Look no further! At OLBG, we've meticulously crafted an editorial process that ensures each review is thorough and reliable. Our comprehensive assessment involves a team of seasoned reviewers and dozens of regular sports bettors, dedicating a minimum of a month to each review. Here's an inside look at our review and rating policy, tailored to help you find the best exchange betting sites.
Detailed Review Process
Our experienced in-house writers spend at least two weeks evaluating each betting site. They place at least ten bets, testing various sports, markets, and features. With over a decade of online betting experience, our reviewers provide insightful comparisons with personal experiences across multiple platforms.
Key Factors We Assess:
- Customer Support: Prompt and helpful interactions.
- Banking & Payment Options: Variety and ease of transactions.
- Site Usability & Mobile Experience: User-friendly interface on both desktop and mobile.
- Range of Exchange Markets Covered: Comprehensive exchange betting coverage.
- Types of Bets Accepted: Various options including antepost betting.
- Odds Offered: Competitive odds for exchange betting.
- Promotions & Offers: Attractive bonuses and ongoing exchange betting promotions.
- Initial Bonus Terms: Fair and transparent conditions.
- User Experience: Pleasant and hassle-free betting environment.
- Ease of Registration & Account Verification: Simple and straightforward processes.
- Live Streaming & In-Play Betting: Quality streaming and live exchange betting options.
- Maximum Payouts: High limits for potential winnings.
Comprehensive Rating System
In the third and fourth weeks, our review panel rigorously tests each exchange betting betting site, providing a rating out of 5 stars. They review the initial evaluation, offering additional feedback and insights. This collaborative effort ensures a well-rounded and accurate review, enriched by diverse exchange betting betting preferences and experiences.
OLBG Members’ Feedback
Once the core review is complete, OLBG members who regularly bet are invited to try out the site and share their ratings and feedback. This community-based evaluation brings a practical perspective, highlighting real user experiences and preferences.
Real User Reviews
We aggregate reviews and ratings from regular sports bettors, allowing you to compare and determine the best betting exchange sites for you. Reading through these genuine user experiences provides peer-to-peer endorsement.
User Ratings
Our members rate each bookmaker out of 5, contributing to an extensive database of reviews. For instance, bet365, with over 1,000 ratings, holds an impressive 4.4/5 score. You can explore individual reviews to understand why it’s a top choice among betting exchange bettors.
We publish these reviews unedited (excluding content with swearing, potential libel, or specific disputes) to maintain transparency. For specific disputes, we advise direct communication with the bookmaker or consulting IBAS (Independent Betting Adjudication Service).
Staying Current
We constantly update our reviews, incorporating new feedback and significant changes to ensure they reflect the latest information. Major updates, like a site redesign or new sport additions, trigger a full reassessment, providing you with the most current and accurate data.
Comprehensive Comparison
We offer detailed comparison guides highlighting the best sites for different sports and bet types. This thorough comparison allows our review team to identify top performers and under performers, making your selection process easier.
Why a betting exchange site may achieve a high rating at OLBG
- Competitive betting exchange odds
- User-friendly site and mobile app
- Attractive bonuses and ongoing betting exchange offers
- Excellent live streaming and event coverage
- Top-notch customer service
- Robust in-play betting exchange betting opportunities
- Early market pricing
- No restrictions on winning accounts
Why online bookmakers are rated poorly by OLBG
- Confusing initial offers
- Difficult site navigation
- Lack of ongoing betting exchange bonuses
- Poor odds
- Limited betting exchange event coverage
- Inefficient customer service
- Early betting limits
- Transaction charges
Trusted by Many
OLBG boasts an industry-leading Trustpilot rating of 4.6 from over 800 reviews. Check out our Trustpilot reviews to see why we are a trusted source for betting site reviews.
Ready to find the best exchange betting site? Trust OLBG's rigorous review process and extensive user feedback to guide your choice.
Advantages of Considering a New UKGC-Licensed Bookmaker
Exploring new UKGC-licensed betting sites can offer a range of benefits that shouldn’t be overlooked. A fresh bookmaker provides an excellent opportunity to start with a clean slate, and a fresh approach to a specific sport, odds and features that are tailored to your betting style
Switching to a newly-licensed bookmaker introduces you to new welcome bonuses and promotional offers unavailable at sites you may already be registered with. new betting operators often attempt to differentiate themselves through innovative features, alternative market selections, and competitive odds.
Pros
- New betting sites often incorporate the latest technologies and trends, offering innovative features like live streaming, cash-out options, and enhanced mobile experiences.
- To attract customers, new betting sites usually offer generous welcome bonuses, free bets, and other promotions that can provide significant value to new users.
- Many new betting sites prioritize usability and user experience, offering clean, intuitive interfaces that make navigation and placing bets easy for both beginners and experienced bettors.
Cons
- New sites may lack a proven track record, making it difficult for users to gauge their reliability and trustworthiness. It's essential to ensure they are appropriately licensed and regulated.
- They might not offer as extensive a range of markets or sports as more established sites, which can limit betting options for users who follow niche sports or events.
- New sites may not have fully developed customer support services, potentially leading to slower response times or less efficient problem resolution.
How To Choose The Best Exchange Betting Site For You
If you're on the hunt for a new betting exchange site, there are several crucial elements you should consider to ensure a top-notch betting experience:
Key Factors to Evaluate:
- Trustworthy
- Reliable
- Low Risk
- Reputable
- Player Friendly With Their Terms and Conditions
- Everything Else You Want!
🔒 Trustworthy
With over 80 online bookmakers licensed in the UK, we only list those vetted by the UK Gambling Commission and good for exchange betting in our bookmakers guide. Betting with non-licensed bookmakers offering exchange betting can be risky and may lead to complications in case of disputes. For your peace of mind, always check if a betting site holds a valid license through the Gambling Commission website.
Table: Top Trusted Betting Sites (Trustpilot Ratings)
| Online Betting Site | Trustpilot TrustScore | Number of Ratings |
|---|---|---|
| BetGoodwin | 4.0 | 796 |
| Matchbook | 4.2 | 1899 |
| Spreadex | 3.8 | 1106 |
| 10bet | 3.7 | 1157 |
| Netbet | 3.4 | 1849 |
Data correct as of 4/9/2024 - Source: Trustpilot Betting Agencies
✅ Reliable
Not all licensed exchange bookmakers meet our reliability criteria. We exclude those with a track record of pending payments, shifting terms and conditions, and poor customer service. While we highlight these issues in our reviews, the worst offenders don’t make our list.
🟢 Low Risk
Small, new companies in the UK market may pose higher risks due to potential cash flow issues. However, if they are UK Gambling Commission-registered, they must meet financial solvency criteria. Larger, more established companies typically present lower risks. While it's rare for bookmakers to close without honouring bets, choosing established operators for long-term (ante-post) wagers is advisable. Diversifying your bets across multiple bookmakers can also mitigate risk.
🌟 Reputable
Reputation is best gauged through user experiences. We gather over 500 user reviews from the OLBG community to offer detailed insights into various UK betting sites. These reviews cover customer service experiences and how disputes were resolved.
👥 Player-Friendly Terms and Conditions
We meticulously analyse each betting site's terms and conditions, withdrawal policies, and deposit terms. Some sites may impose charges for certain transactions or inactivity, so it's crucial to be well-informed. Our community reviews and research highlight these details to ensure you get fair terms.
Tips for Choosing Your Next Betting Exchange Site:
- Minimum Deposit Requirements: Always check the minimum amount you need to deposit to activate your account.
- Deposit and Withdrawal Methods: Ensure the site supports convenient payment methods for you.
- Withdrawal Policies: Look for any fees associated with withdrawals.
- Betting Rules: Understand the minimum bet amount, maximum winnings, and specific rules for voided bets.
If you're content with your current bookmaker but want a change, or you must provide proof of affordability and are looking for alternatives, we have recommendations for similar sites.
Bookmaker Deposit Methods
There are many ways to fund your exchange betting account. While this list is not exhaustive, it covers the most popular and trustworthy methods.
The minimum deposit is often £5, but it can be much higher for some bookies. Check out our review pages for online betting sites' minimum deposit amounts. In addition to varying by the bookmaker, this can vary by the deposit method used.
Bookmakers will generally return any winnings to the same card or payment method used to deposit unless instructed otherwise. Sometimes you will be asked to provide details to help the online bookmakers comply with money laundering regulations. Please understand that the online bookmakers are not being difficult, they are simply following legal guidelines. This will be even more likely if you withdraw using a different payment method than you used to deposit.
Visa Debit Card
A debit card is the most common deposit method for online betting sites, this is a straight transfer from a UK bank account. Bookmakers or any gambling companies are no longer allowed to accept credit cards as a deposit method.
PayPal
Most UK bookies accept PayPal which is the most popular e-wallet with sports bettors. Some people like to use it to keep betting transactions off their bank statements, others find it a much faster way to deposit in and out of betting sites. Be aware that using PayPal could exclude you from welcome offers with some bookies.
Apple Pay
Many of the larger online betting sites support Apple Pay and it's like to be available on more sites soon. Deposit and withdrawal times will be the same as the bank cards being used through Apple Pay.
Skrill
Skrill is an alternative to PayPal. Used to be known as Mneybookers, this has always been a popular payment method for online gamblers. and is accepted at most sites.
PaySafeCard
These are prepaid cards which can be used to fund online betting accounts. Fees aren't charged for deposits and so these are a popular way to fund online accounts for those who don't use bank cards.
Take a look at the reviews for each bookmaker by clicking on the link in the above list where we will detail all the deposit methods available for each site.
With most online bookmakers listed here you may be able to easily transfer money between the bookies other products such as poker, casino and bingo. Transferring money between accounts is often very simple and if you only want to play the sportsbook you can just ignore this function.
Many people use payment providers such as Skrill (formerly Moneybookers) for depositing into, and withdrawing from online bookmakers, as these can be faster, more convenient than bank or credit cards. However sometimes using these methods may exclude you from bookmakers welcome offers. If so this will be mentioned in the terms and conditions of the welcome offer. For more info on which payment methods are accepted by which bookmakers please read through our bookmaker reviews.
👍 Responsible Gambling, Identification & Affordability Checks
In recent years the regulations for bookmakers have tightened as the Gambling Commission have looked to increase the protection of the user. This is fantastic news for the industry and all who use online betting sites but you need to be aware that you may have some small inconveniences when trying to open a new online betting site or if you are wanting to place large bets with a bookmaker. ID verification is very strict and sometimes you may be asked to send off copies of documents for ID and address verification.
Also if you are placing large bets and or making large deposits then online betting sites have a responsibility to ensure that you can afford to do so. You may be asked affordability checks such as showing your pay slips and or you may be asked for proof of funds for money laundering checks. Don't take such requests personally, all licensed online bookies must follow these regulations or they can face huge fines.
Here are some common tips to help you with gambling responsibily online. For more information take a look at our detailed responsible gambling guide.
✋ When The Fun Stops Stop 🛑
You will have seen this slogan used by online bookmakers frequently over recent years. It is trying to get across the serious point that if you aren't enjoying gambling you should stop immediately. You can use a process of self evaluation to help you to understand if you have a gambling problem. There is a great tool at Gamcare.
If you do believe that you have a problem then there is always someone to talk to at begambleaware. They can offer great advice including helping you to self exclude. There is a valuable service called Gamstop which allows you to self exclude from all betting companies signed up to the program for a period of your choice. All UK licensed bookmakers listed on this site will be part of the GamStop programme. For this reason (and many others) you should never join betting sites not GamStop.
🔚Set Limits and Use Bookmaker Tools
We strongly recommend that you record your gambling and set yourself limits. Only bet what you can afford to lose. Online betting sites have started to offer a number of tools to help you with this including
- Deposit Limits
- Session Limits
- Account History
- Time Outs
Using playing time notifications to remind you how long you have been gambling and when to stop is a useful tool and so is setting a specific loss amount you are happy with in advance.
Betting Exchanges Related Questions
FAQ
Betting Exchanges FAQ's
What is the best betting exchange?
Betfair is the biggest betting exchange, and the best alternative exchange to Betfair is Smarkets. Betfair will win most comparisons in terms of available events, markets and liquidity [Money available to bet]. That said, Smarkets are a very good alternative exchange site and we would recommend an account for you to explore if they work better for your type of betting activity. they are also good back up if your normal exchange was to go down for any time, and vice versa.
Is Smarkets Better than Betfair?
A Comparison between Betfair and Smarkets will show that Betfair are bigger than Smarkets if looking at the number of playing and paying customers they have. As the original online betting exchange Betfair have a distinct advantage in that respect. However, depending on what betting activity you undertake, Smarkets may be better for you. In any case, we would recommend that you have a Smarkets account, as back up for Betfair or any other exchange platform in case they go down and you are left in a position where your liabilities are higher than you would like them to be. A backup account will allow you to possibly recover your positon
Do Betfair close winning accounts?
The Betfair Exchange could potentially close or suspend an account for winning, but this would be very rare and most likely linked with suspicious gambling activity. Differently to online bookmakers the exchange takes a commission, so they do not mind you winning, as the more you win, the more they earn from you.
What percentage do Betfair take?
At the time of writing, and for as long as I can remember, the normal commission rate on the Betfair Exchange is 5% of all winnings on each market you bet. There is a higher commission rate known as the 'premium charge' but if you are reading this guide and asking the question, you do not have to worry about this higher rate at all.
Do you pay tax on Betfair Winnings?
You do not pay a tax for winnings gained from Betfair, but you will have to pay a commission fee of 5% of the profit amount on markets you have won money on. This amount is deducted before you are paid, so you don't have to worry about paying it yourself. The commission rate is reduced if you are a heavy user and place very many bets on the Betfair exchange.
Who Created, Edited & Fact Checked The Content On This Page?
At OLBG, our sports betting section is powered by a team of dedicated experts who bring years of industry experience and specialized knowledge. Their collective efforts ensure we provide you with top-notch, informative, and user-friendly content. Let's dive into the various roles and discover each team member's invaluable contributions to our sports betting sites section.
The Experts Behind OLBG Sports Betting Content:
Our team’s dedication and expertise ensure that OLBG remains a trusted source for sports betting information. Each member's meticulous work supports the overall quality and reliability that our users expect and appreciate. Explore our sports betting section and gain insights from the best in the industry.
Content Strategists:
These professionals are the architects behind our content strategy. They meticulously plan and structure our sports betting content to ensure it addresses the interests and needs of our audience. They stay ahead of industry trends and ensure our content remains fresh and relevant.
Richard Moffat
CEO & Gambling Industry Expert
Sam Darkens
Commercial Manager
Writers:
Our skilled writers translate complex sports betting concepts into clear, informative articles, predictions, and guides. Their expertise allows them to present detailed analysis and insights in a way that both novice and experienced bettors can appreciate and understand.
James Banting
Tipster Competition Assistant
Andy Powell
Content Editor
Jake Ashton
Senior News Editor
Analysts:
Our analysts dive deep into sports statistics and betting data. They provide the foundational research and data-driven insights that our writers and strategists use to craft accurate and actionable content, helping users make informed betting decisions.
Nigel Skinner
Blog Content Manager
Dan Tracey
Data Scientist and Football Editor
Editors:
The editors play a crucial role in maintaining the quality of our content. They review articles for clarity, accuracy, and coherence, ensuring that each piece is polished and provides valuable information. Their keen eye for detail ensures that our content is reliable and engaging.
Darren Brett
Tipster Competition Manager
Steve Madgwick
Editor-In-Chief
In addition to their long experience working within the sports betting industry, all our contributors are keen sports bettors themselves, so they each have many years of experience betting with multiple online betting sites.
Conclusion
What is the best Betting Exchange? - Betfair is rated the best betting exchange providing the biggest range of sports and markets. Add to that better liquidity [money available to bet] overall against any competitor. With the additional seamless switch to fixed-odds betting and a huge casino too. Betfair exchange rates as Number one.
Betfair has the most customers of any betting exchange, has a sportsbook app too and is partners with Paddy Power.
Overall they offer the best exchange, but also one of the biggest bookmakers in the world. There can still be some reticence because of the association with traditional bookmaking and other business partnerships, but that shouldn't factor into your thinking generally. If you are looking for an alternative, the other exchanges mentioned in this article are all worth interest too.
If betting in-play is a consideration, then because of the sheer weight of bettors, Betfair is an account that you should sign up for. They have far more events covered, inclduing minor / lower league events, and deeper market coverage.
You will also find that within the less popular events, and markets, where other exchanges struggle to have any liquidity, and in some cases, none at all, Betfair will remain pretty strong with markets forming many hours ahead of their rivals.
When looking for the best bookie for exchange betting, the key areas to consider are:
- ✅ OLBG experts analysis of best exchange betting sites overall and best by the category which you are most interested in.
- 💬 OLBG user reviews to see what regular bettors say about their experiences at each exchange betting site.
- 💳 The payment methods which you want to use and which bookies support them.
- 🔒 How trustworthy, reliable and reputable each bookie is.
