Best Exchange Betting Sites in the UK 2024

We take you through the best betting exchange sites with pros and cons of each.

Claudia Hartley
Claudia Hartley

Last Updated: 2024-05-31

A. Tzamantanis

7 minutes read

So, what is a betting exchange site? The difference between an exchange betting site and a ‘normal’ online bookmaker, is that instead of placing your wagers with the bookie, you place them against other bettors.

This means you can sometimes find better odds, and benefit from fewer limitations. Sound like a good online betting site? Keep reading to find out more!

Top 2 Betting Exchange Sites

1. Betwinner

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Betwinner takes the top spot on our list of betting exchange sites. This site has a complete peer-to-peer betting exchange, allowing you to claim better odds than you would at a traditional sportsbook. The commission varies from 2% to 4% which is considered very fair. You’ll find all of the sports available in the ‘normal’ section of the sportsbook, also in the Betwinners betting exchange.

Licences
Curacao eGaming Authority

Excluded Countries: North Korea, Iran, Syria, United States, etc.

Payment Methods: Mastercard, Visa, e-Wallets, Payz, Cryptocurrency

Bonus: 100% deposit match up to £100

Terms and Conditions: 5x wagering requirement, 1.4 minimum odds

Support: FAQ, Live Chat, Email

Rating: Odds 4.6 Promotions 4.7 Mobile 4.7 Other 4.8

Pros

  • Good welcome bonus with easy terms
  • Comprehensive betting exchange
  • Crypto payments are available

Cons

  • Only has a Curacao license
  • Email replies can be a little slow

2. Parimatch

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Parimatch has a pared-back betting exchange for its UK customers, allowing you to bet peer-to-peer on limited markets. You’ll find great odds with only a 4% commission. Plus, because the vast majority of Parimatch’s bets are made with the bookmaker, there are no liquidity problems.

Licences
UK Gambling Commission, Gibraltar Gambling Commissioner

Excluded Countries: Afghanistan, Angola, Argentina, Australia, Belgium, Bosnia And Herzegovina · Bulgaria, Denmark, etc

Payment Methods: Visa, Mastercard, PayPal, Paysafecard

Bonus: Bet £5 get £20 in free bets

Terms and Conditions: 16x rollover, 1.75 minimum odds

Support: FAQ, Live Chat, Email

Rating: Odds 4.8 Promotions 4.6 Mobile 4.8 Other 4.6

Pros

  • Simple and fair welcome bonus
  • Great mobile platform
  • Regular bonuses for existing customers

Cons

  • Betting exchange is small
  • Small selection of payment providers
     

How We Review and Rank Online Betting Exchange Sites

All betting exchange sites that make it to our list of recommendations have to satisfy the following criteria:

  • License: A license is the first thing we check for when reviewing our list of betting exchange sites. The site must have a license from a well-respected body, either local or remote.
  • Payments: We prioritize bet exchange sites that make payments safe, free and fast. 
  • Customer Service: It’s important to be able to contact customer support easily and receive a helpful response quickly.
  • Bonus: A welcome bonus is essential to be considered one of the best exchange betting sites. We also check the bonus terms to make sure they’re player-friendly.
  • Odds: A big benefit of online betting exchange sites is that you’ll usually find superior odds. 
  • Markets: We check that all kinds of sports are available for you to wager on.

What to Consider When Choosing a Sports Betting Exchange Site

Before choosing a betting exchange, here are some pointers to consider:

  • Reviews: Looking into what other people have to say, can be a good way to gauge how trustworthy a site is. Do particularly thorough research if you’re looking at very new betting exchange sites.
  • Liquidity: If sports betting exchange sites don’t have sufficient cash reserves, then there can be problems getting paid out on time. 
  • Availability: Not all exchange sites are available in every country. Check that your country isn’t on the restricted list (and check for a license too).

How to Bet on an Exchange

It’s easy to get started with betting exchange sites. Below is a step-by-step to guide you through the process.

  1. Head to the site of your choice and click to register.
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2. Complete the registration forms, making a note of your login details. 

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3. Make a deposit to your account (and claim a welcome bonus if you choose).

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4. Browse the available markets until you’ve found the bet you’d like to make.

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5. Place your wager, or lay a bet. Once it’s accepted, wait for the outcome.

6. Collect your winnings. 

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Difference Between Betting Exchange & Traditional Bookmakers

While on the surface, using a bet exchange site might seem the same as a normal bookmaker, there are some differences. Let’s take a look at the big ones.

Laying Bets

The main difference between a sports betting exchange and traditional bookmakers is that you are able to lay bets. If you think a team will lose, you can ‘become the bookmaker’ and select the odds yourself.

For example: A horse is priced at 2/1, but you don’t think it will stay the distance. You choose to lay it at 3/1 and your offer is taken for a stake of £20. If the horse loses, you win £20, if the horse wins, you pay out £60.

No Margins, Only Commissions

To be profitable, bookmakers build a ‘margin’ (or juice) into their odds, kind of like the house edge. The way betting exchanges work means there’s no built-in margin, so you benefit from better odds.

However, even top betting exchange sites charge a commission. You’re only charged on winning bets and commission rates should be 5% or less.

Let’s take the same example above, but imagine you placed the £20 bet at odds of 3/1. The horse wins and you’re paid out £60, plus your stake, for a total of £80. The bookmaker takes a 5% cut, bringing your total payout to £76. 

Tips & Strategies for Betting on Betting Exchanges

When you’re betting at the top betting exchanges, it’s still just as important to do your research and bet within your means. However, there are also some additional pointers.

Watch the Odds

While traditional online bookmakers offer fixed odds, the odds at betting exchanges fluctuate all the time. Watch the odds to take advantage of the best prices.

Lay Bets Carefully

One of the easiest mistakes to make when using betting exchange sites is not calculating your bets properly. If you decide to lay bets on any sports events then carefully consider what you can afford to lose.

You might think that Aston Villa hasn’t got a hope of winning that football match, but remember just how much a win at 60/1 odds could cost you!

Different Types of Online Betting Offers

As betting exchanges are a peer-to-peer service, there tend to be fewer bonus offers. Below are the two most common types of offers you’ll find.

  • Free Bets - You’re offered a free bet with a set amount as the stake.
  • Deposit Match Bonus - A percentage match of your initial deposit, up to a certain amount.

How to Deposit and Withdraw Funds

Making payments at exchange betting sites is easy, below is a quick guide to help you.

  1. Log in to your account and head to the cashier
  2. Choose your payment method and enter the amount you’d like to deposit.
  3. Confirm your deposit, your funds will appear instantly.
  4. Place your bet and wait for it to settle.
  5. Withdraw your winnings via the cashier and the same payment method.
  6. Wait for your winnings to appear in your account.

Promote Responsible Betting

Betting on sports is supposed to be fun. If you find that you’re not enjoying it anymore, or you’re spending too much money take the following advice.

  • Use Responsible Gambling Tools: Tools like deposit limits, loss limits, time-outs, and self exclusion can all help you to take control.
  • Ask for Help: If you’re still struggling, call a helpline for free information and steps on how to take action.

FAQ

Are betting exchanges better? 

Betting exchanges often offer superior odds, but laying bets can pose a bigger risk. When used carefully, betting exchanges can be better than traditional bookmakers.

Which betting exchanges have the best liquidity? 

Betfair is the largest betting exchange in the world and offers excellent liquidity. So do Spreadex, Matchbooks, and Smarkets.