Updated: 2025
For those looking for an alternative to the traditional form of betting with bookmakers, betting exchanges UK could well be the sites for you. Betting exchange sites offer the chance for punters to either back or lay on a market, pitting them against customers with a different opinion in the process. Both the stake and odds are agreed upon by punters themselves, with no bookmaker being required to act as an intermediary. On this page, we will run through the top betting exchange sites available to punters in the UK, as well as providing a definitive guide on this increasingly popular form of wagering.
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MIN. deposit : 5 Free daily odds boost Highly prestigious brand |
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| 18+ New UK+IRE customers. Paypal and certain deposit types and bet types excluded. Min £5 bet within 14 days of account reg at min odds 1/2 = 4 x £5 free bets. Free bets valid for 7 days on sports, stake not returned, restrictions apply. T&Cs apply, | |||||
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MIN. deposit : 10 Wide range of offers Price boosts each day |
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| £10 min deposit using promo code 200BONUS • The bonus will be applied once the full deposit amount has been wagered at least twice with cumulative odds of 1.50 or greater • To withdraw any winnings from your bonus, you must wager the bonus amount at least 5 times • All deposit and bonus wagering requirements must be completed within 60 days • This offer may not be combined with any other offer • Wagering limit of £50 per bet Applies • Restrictions apply to withdrawals, payment methods and countries & full T&Cs apply. | |||||
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MIN. deposit : 5 Extra places and BOG Correct4 football game |
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| 18+ Eligible UK+IRE players. Paypal & some deposit & bet types excl. Min first £5 bet within 14 days of account reg at min odds 1/2 = 4x £5 free bets. Free bets valid for 4 days, stake not returned. No cashout, restrictions + T&Cs apply. | |||||
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MIN. deposit : 10 Very well-regarded bookie Fantastic range of offers |
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| For new customers only - Bet £10 & Get £50 in Free Bets for new customers at bet365. Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. | |||||
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MIN. deposit : 10 Innovative social features Free soccer betting tips |
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| New UK, IE & Malta users only. Min. £10/€10 first deposit only using Debit Card or Trustly. Free bets expire in 90 days. T&Cs apply. | |||||
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MIN. deposit : 10 Outstanding track record Fixed odds & spread betting |
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| Don’t miss our exclusive World Cup offers for new and existing customers. Terms apply. Full details available here. | |||||
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MIN. deposit : 10 Excellent track record New Bet Boost each day |
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| New customers using Promo code H30 only, Min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15, free bets credited after settlement of first qualifying bet, free bets will expire 30 days after the qualifying bet is placed, payment method/player/country restrictions apply. See full terms below. | |||||
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MIN. deposit : 30 Specialise in horse racing Boost on football accas |
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| 21+, new UK + IRE members only. Min deposit £10. Singles, win part of e/w or multiples at odds of evens (2.0) or greater qualify. The Free Bet must be placed at odds of 1/2 (1.5) or greater. Free bets expire in 7 days. The Free Bet stake is not included in the returns . Additional T&Cs apply. Bet responsibly. | |||||
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9
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| 18+ New Customers opt in, bet £5 & get 2x £10 Free Bets for set events (odds 2.00+) + £10, Slots Bonus, selected games, 35x wagering to withdraw max £250. Bonuses expire in 7 days. Card Payments only. T&Cs Apply | BeGambleAware®: Gambling Help & Gambling Addiction | BeGambleAware | Please gamble responsibly | |||||
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10
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| New customers only. Max one free £15 bet. Qualifying bets must be placed at odds of 1/1 (2.0) or greater. Paid as bonus token with min 4/5 (1.80) odds req. Skrill, Neteller & PayPal not eligible. T&Cs apply. 18+ | |||||
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MIN. deposit : 10 Deep in-play section Widespread racing streams |
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| *New members. £10 min deposit & bet on sportsbook, placed & settled at 1.5 min odds within 14 days of sign-up. Win part of E/W bets. 2 non-withdrawable £10 Free Bet Tokens: accept in 7 days, valid for 7 days from acceptance (ex. E/Ws & Multiples), stakes not returned. Click here for Rules & Exclusions. Bet Responsibly. BeGambleAware.org | |||||
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MIN. deposit : 10 Increasingly popular site Free bet refunds on racing |
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| 18+ begambleaware.org; New bettors get 50% of deposit up to £50; Once per household; Min deposit £15 (no Skrill/Neteller); Wager a total of 8 times deposit + bonus, with max qualifying bet stake equal to your initial bonus amount; Bonus expires after 60 days; Min odds of 4/5 on singles, or 2/5 per leg for acca; Some bet types excluded; See full terms; See full terms; Terms apply; 18+ | |||||
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MIN. deposit : 5 Famous Free Bet Club #BetYourWay for football |
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| New UK customers only. Min Deposit: £5. Maximum Free Bet: £30. First bet on a Football or Horse Racing multiple with 3+ selections. Overall odds: 3.00 (2/1) or higher. Free Bets available upon settlement of the qualifying bet. Debit card deposits only. This is offer is valid for 7 days from your new account being registered. 18+ BeGambleAware.org Full terms apply. | |||||
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MIN. deposit : 10 Boosted specials on football Various free bet offers |
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| Get a Free Bet up to £35 based on 50% of your first days losses plus 10 Free Spins! UK 18+ T&C's apply. | |||||
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15
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MIN. deposit : 10 Money-Back football deal Exceptional mobile apps |
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| Terms apply | |||||
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16
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MIN. deposit : 10 Acca protection & boosts Wide range of deals |
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| 18+, Welcome Bonus: New Players only, 1st Deposit, Min Deposit: £10, max £15 bonus, valid for 14 days, bets must be placed at a min. odds of 1/1 (2.00) or greater and be settled within 14 days of placement. System bets no eligible. Full T&Cs apply | |||||
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MIN. deposit : 10 New specials bets each day Multiple acca promotions |
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| New UK customers (Excluding NI) only. Mobile exclusive. Min stake £10. Min odds Evs. Free bet applied on 1st settlement of any qualifying bet. 30 days to qualify. Free bets expire in 7 days. Cashed out/Free Bets won’t apply. Payment method restrictions. 1 Free Bet offer per customer, household & IP Address only. 18+. T&Cs apply.**18+. Opt in. UK/IRE customers only. Max refund £/€20. Win or win part of e/w outright singles only. 5 or more runners. 1st bet on each race. Free bet expires after 7 days. Free/void/antepost bets don’t qualify. T&Cs apply | |||||
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18
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| 18+ New Customers only. Deposit, opt in and place a £5 qualifying bet at odds of 2.00 or greater within 7 days of opening a new account; excludes cashed out bets. Receive 2x £10 Free Sports Bets, valid on set events only at odds 2.00 or greater, expires in 7 days. Plus a £10 Game Show Bonus, selected games, wager 40x to withdraw a max of £250. PayPal and Card Payments only. Geographical Restrictions and T&Cs Apply, See Below. Please Gamble Responsibly. | |||||
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19
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| New UK customers only. Register using the promo code BETFRED60, deposit and place first bet of £10+ on Sports (cumulative Evens+) within 7 days of registration. First bet must be on Sports. £20 in Free Bets to be used on Sports, £10 in Free Bets to be used on Lotto and 50 Free Spins (20p per spin) credited within 48 hours of bet settlement. Further £20 in Free Bets credited 5 days after settlement. Bonuses have a 7-day expiry. Payment restrictions apply. SMS verification and/or Proof of I.D and address may be required. Full T&Cs apply. Terms & Conditions Apply | |||||
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20
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| 18+, Welcome Bonus: New Players only. Valid on 1st deposit only. Min Deposit £10. Max Free Bet £40. Min turnover of £20 must be placed at odds of 1/1 or greater, and settled within 14 days of placement. System bets not eligible. PayPal, Skrill and Neteller deposits not eligible for promotion. Click to see full T&Cs | |||||
Before placing bets on a betting exchange, it is important that customers understand exactly what they are getting themselves into. While sports markets are displayed in a similar manner to those found on bookmaker sites, a betting exchange will show both back and lay options too, with four options being available to punters, rather than the normal two. Taking a Premier League football match between Arsenal and Liverpool as an example, odds for the Gunners to win may be 2/1. However, rather than those looking to bet on Arsenal to win doing so against a bookie, betting exchanges act as the middle man, finding a customer who wishes to back Liverpool. In the event of either party losing, they will be liable to pay out.
Betting exchanges handle all of the necessary financial details, taking the stake from the punter who has backed, as well as the potential payout from the layer. Money will be held until the final result is determined, with the exchange then distributing funds accordingly. So, going back to our example, should Arsenal have won, backers would receive their stake and the payout. However, if they failed to win, the layer would get the payout and their stake back. But what is in it for the betting exchange? Betting exchanges will deduct a commission from the winning punter, which can range from anywhere between 2-5%. This type of betting can appear complicated at first, however it quickly becomes clearer after spending just a short amount of time on a betting exchange.
The Betfair betting exchange has long been regarded as being the best around, having been launched in 2000. The Betfair exchange attracts an estimated 90% of punters in the UK who bet in this way, despite their commission fee of 5% being one of the highest. Referred to as “Paddy Power Betfair” on the London Stock Exchange following a merger between the two companies, Betfair takes advantage of an API system, as well as integrated trading tools, allowing visitors to determine just how much odds are fluctuating. The Betfair exchange is licensed by the Gambling Commission, meaning that punters in the UK are able to take full advantage of their platform, while a license from the Malta Gaming Authority is also found.
Those placing bets at the Betfair sports betting exchange will earn themselves points along the way, which can be used to gain a better Betfair commission. In terms of Betfair promotions, the Betfair welcome bonus for exchange customers is currently £20 risk-free bet. Our Betfair review found this exchange to be particularly appealing for fans of both football and horse racing, however a large number of sports markets are also available. The minimum bet for a bet at the Betfair betting exchange is set at £2, while a premium charge of 2% is available. Calculated weekly, this basically caps profits made at 20%.
Live streaming is also available to punters at the Betfair exchange, offering coverage of hundreds of sporting events on a weekly basis. Meanwhile, live betting is also available, with odds being updated constantly. On top of this, the Betfair exchange is very easy to use, with its clever interface making browsing markets and staking a simple task. Funding your Betfair exchange account is also simple, with payment methods including debit cards, eWallet’s and bank transfers.
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The Smarkets exchange went live back in 2008, making it one of the newest of its kind on the web. The Smarkets betting exchange quickly attracts the interest of punters by offering a commission fee of just 2%, which is one of the few areas in which they outperform Betfair. Licensed by the UK Gambling Commission, as well as leading authorities in Malta and Sweden, our Smarkets review found a number of appealing features. Punters placing 1,500+ bets per month will see the Smarkets commission fee drop to just 1%, while this also applies to customers who place $1,000,000 worth of bets over the same period of time.
The Smarkets sports betting exchange is regarded as being one of the best when it comes to lay betting, which is again in contrast to Betfair. Smarkets is also hugely appealing to those looking to bet with high liquidity, with useful graphics and charts helping punters to make decisions. New customers can claim the Smarkets £10 welcome bonus, while Smarkets promotions for existing users are also introduced from time to time.
The Smarkets “Trade Out” feature is similar to cashing out bets, which is available on selected markets on their exchange. Smarkets is perhaps the greatest threat to Betfair at present, with their exchange site performing well on all devices, including both desktop and mobile, with a dedicated app being available to customers. With Smarkets operating solely as a betting exchange, there are no distractions surrounding a sportsbook or casino games, something which cannot be said of other brands. Pros:
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Dating back to 2000, the Betdaq betting exchange was purchased by Ladbrokes in 2013, helping them to achieve an estimated 7% share of the market in the UK & Ireland. A commission fee of 2% for all winning bets is in place, while Betdaq is one of the only betting exchanges to take advantage of a public API. Betdaq is actually commission free on certain markets, while the Betdaq welcome bonus means that new customers will get 0% commission for the first month on all exchange bets.
Meanwhile, while there is a shortage of Betdaq promotions available, those placing a bet of £10 or more on an exchange virtual market will receive a £10 free bet, with the promo code “V1010” being required. In terms of how Betdaq compares to Betfair, both exchanges perform well in terms of liquidity, however Betdaq do not offer as many sports markets. On top of this, having been acquired by Ladbrokes, Betdaq is one of the few betting exchanges to have its own fixed odds platform. Betdaq trading tips are also on offer, while their commission rate and rebates are more appealing, with Betfair charging a premium here.
One of the major advantages of Betdaq is that there is no premium charge to be found, meaning that those winning large amounts will not be charged more, something in which Betfair has in place. There is also an easy to use Betdaq mobile app available to both iOS and Android customers, while their exchange site also works well on various devices. Pros:
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Having been around for over a century as a traditional bookmaker, the Ladbrokes exchange became available to punters in the UK in 2013. The Ladbrokes sports betting exchange holds a license from the Gambling Commission. There is currently no Ladbrokes welcome bonus available to new customers on their exchange, however £20 worth of free bets can be claimed on their sportsbook site. Ladbrokes commission sits at 5%, however punters earning 12,000+ exchange commission points will see this rate lowered to just 2%. 1 exchange commission point is earned for every £25 bet at the Ladbrokes sports betting exchange.
The Ladbrokes exchange scores highly when it comes to both in-play betting and live streaming, while they are able to compete with Betfair when it comes to their sports coverage. Customer support is available 24/7 via telephone, email and live chat, while the fact that minimum deposits start at just £5 mean that the Ladbrokes exchange caters well for beginners.
Ladbrokes trading makes it easy for punters to see the fluctuation of markets, while a detailed results page makes the decision-making process surrounding potential bets easier. The Ladbrokes exchange site is also easy to use on desktop and mobile, with a dedicated exchange app making things even simpler for iOS and Android customers. Pros:
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Launched in 2004, Matchbook was slow to make an impact in the industry initially, however major investment in 2011 saw them improve significantly. Owned by Triplebet Ltd, the Matchbook exchange attracts new customers largely as a result of its 2% commission rate on net profits, as well as a 4% rate for all other customers, while they also offer some of the best odds around. In fact, Matchbook’s odds are often better than found on Betfair, which is one of the main reasons as to why they are growing so quickly. Losing bets will not be charged any commission, with Matchbook being an excellent option for fans of US sports in particular, including the NFL, NBA and NHL.
Unfortunately, there is no Matchbook welcome bonus or Match promotions to speak of, however with there being no premium charge either, things tend to even out at this betting exchange. The Matchbook sports betting exchange is licensed and regulated by the Gambling Commission, while customer support is offered by telephone, email and live chat.
Our Matchbook review also found that a mobile app is available to both iOS and Android users, however unlike Betfair, no live streaming services are available to punters on their exchange. The Matchbook Exchange site is one of the best around in terms of usability, with all markets and features being easily accessible at all times. Those who have placed bets at the Betfair exchange in the past will quickly get used to Matchbook, with a number of similar features being found, including the blue and pink back and lay buttons. Pros:
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In comparison to bookies, a betting exchange is often seen as offering better value and a wider variety of opportunities, due to the fact that punters can effectively set their own odds. Betting exchanges allow punters to wager on the outcome of sporting events, with users betting against each other, rather than a bookmaker. As a result, punters are not restricted in terms of odds, as is the case with sportsbook sites, with exchange customers going head to head by either backing or laying.
With bookies, betting margins can be as much as 20%, meaning that odds are basically unfair in many cases. The same cannot be said of a betting exchange however, with their peer to peer style meaning that markets are dictated by punters themselves. Therefore, winning bets often bring about greater earnings when compared to a bookie, just one of the benefits of a betting exchange.
While one of the drawbacks of betting exchanges is the commission charged, this can be as low as 2%, meaning that it is unlikely to impact too much upon your ultimate winnings. Meanwhile, those making a net loss will not be forced to pay any commission at all.
Other advantages surrounding betting exchanges revolve around the increased number of betting options, creating your own odds and the lack of bet cancellations, which add up to make a hugely appealing platform.
Matched betting sites are used by punters in order to guarantee for a profit, with this strategy also requiring a bonus or enhanced odds offer. No-risk matched betting generally allows for a profit, no matter what the outcome of markets are, because of the bonus itself, rather than the price. Using the Betfair Exchange as an example, punters must place a back bet with a bookie of your choice, which will mean that you qualify for a bonus or free bet, whilst also laying on the same market on the Betfair Exchange. Having done so, punters will then have their free bet to play with. Next, find a sports market of your choice, which must have similar odds as on the Betfair Exchange. Place the bet using your bonus or free bet, as well as laying on the Exchange, meaning that even if the bet wins or loses, a profit will be made.
Wagering on a betting exchange is all about backing and laying, which punters must understand before getting involved. In simple terms, backing effectively means betting that a particular result will happen, with laying being wagering that it will not. Examples of the two options can be found below:
Betting exchanges may not be a new platform, however they are still overlooked by a number of punters. However, an increasing number of betting customers are now signing up at sites such as Betfair, Smarkets and Betdaq, with the draw of increased odds, greater freedom and lay bets being extremely appealing. You should now understand exactly how back and lay betting works, including the strategies used by punters, so be sure to check out some of our recommended betting exchanges for yourself.
Betfair is widely regarded as being the leading betting exchange available to punters in the UK, performing well when it comes to markets and odds. However, Smarkets, Betdaq, Matchbook and Ladbrokes also offer appealing platforms, so the choice is really yours.
Many have turned to a betting exchange due to the freedom in which such platforms offer. Both back and lay bets are available, something in which traditional bookmakers do not offer.
Unlike on a traditional bookmaker site, where bets are placed against the bookie itself, at betting exchanges, bets are made between punters. In effect, the exchange is between the two parties, with the site acting as an intermediary.
Betting exchanges tend to set commission rates at anywhere between 2% and 5%, with Smarkets offering a standard charge of 2%.
Betfair, Smarkets and Betdaq are among the best exchanges for high stake liquidity, with betting on such platforms being appealing to those with larger budgets as a result.