Betting Basics

Betting Exchanges

To begin matched betting you will need to open an account with a betting exchange, we recommend Betfair.

Unlike betting with a traditional bookmaker, a betting exchange is a market where ordinary people can bet against each other. The major benefit being, you have the additional option to place both Lay bets as well as back bets, and this additional option to lay makes the exchange a crucial tool for matched betting.

Unlike betting with a traditional online bookmaker, you are able to choose the price you want to bet at and not the price you are told you can have. Every bet placed on a betting exchange, involves a backer and a layer, a backer thinks a particular outcome will happen, a layer thinks that it won’t happen. The odds and amounts that you see on each market are people asking for or offering bets, these are called unmatched bets. When someone accepts one of these bets by either backing or laying the bet is on, it’s then called a matched bet. Betting exchanges match punters opposing back and lay bets and deduct a small commission from the winning side, commission rates varies from 3 – 5% depending on the exchange.

The two main betting exchanges are shown below:

Betfair
  • The best odds in the business!
  • Extensive in-play coverage.
  • Superb mobile betting app.
  • Highest liquidity on offer
Betdaq
  • Lowest starting commission rate
  • No high roller tax for consistent winners
  • Best back up exchange on offer
  • Accumulcate free bets when betting

For more information on betting exchanges we highly recommend that you follow the video tutorials for Betfair below. The betting exchange is paramount to matched betting and will be used in every matched bet you place, it’s therefore vital that you have a deep understanding of how they work.



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