I've spent over 20 years inside the betting industry. I'll guide you to avoid the hype, ignore the noise, and steer clear of the common pitfalls that catch out everyday punters.
Betting Exchanges Ireland Sites List
These are the best betting exchange sites in Ireland based on data collected by our expert team from the licensed bookmakers listed on OLBG.The list below contains the five main reliable betting exchanges available to Irish 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 Irish bookies listed in order of user review.
- Better Odds With Low Commission Rates
- Superb Smarkets Betting App
- Smarkets Deposit and Withdrawal Information
- 2% Commission Rate
- Best Alternative to Betfair
- Great Odds, Sometimes Better Than Betfair
Best Betting Exchange Sites and Why
1. 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.
2. 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.
3. 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.
4. EasyBet
EasyBet is the newest exchange site to the Irish 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.
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... |
|---|---|
| Smarkets | Low commission rates |
| BetDaq | Exchange multiples betting |
| Matchbook | Exchange accumulators |
| EasyBet | Enhanced Specials |
What is Exchange Betting?
Betting Exchange Commission Rates Comparison
You can see from the table below the lowest commission rates of the Irish 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 |
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 Irish 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 |
|---|---|---|
| Smarkets | £100 - 2% = £98.00 | -£50 |
| BetDaq | £100 - 2% = £98.00 | -£50 |
| Matchbook | £100 - 2% = £98.00 | -£50 |
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.
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.
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 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.
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 Ireland, we only list those vetted by the Irish 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 Irish market may pose higher risks due to potential cash flow issues. However, if they are Irish 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 Irish 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.
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.
