Welcome to this in-depth and honest review of the Betfair Exchange. It is the most well-known betting exchange in the industry and we will be taking a look at just how good it is. We will also be explaining what exchange betting is as well.
Read on to find out all you need to know about Betfair exchange betting.
How Does the Betfair Exchange Work?
If you are unsure about exchange betting it may seem too complicated. But once you get used to the extra options you may find that it is the most enjoyable of all.
The main difference between traditional sports betting and Betfair exchange betting is that you are betting against other customers with an exchange. This also makes for better odds. You also have the option to bet on an event not happening – or ‘laying’ a bet, rather than ‘backing’ an event as with other betting sites.
How to Lay Your Own Bets
When you start Betfair Exchange lay betting you are essentially taking the role of the bookmaker. You are betting on an event not occurring, such as a favourite not to win a horse race.
How to Back Your Own Bets
If you are familiar with sports betting this is what you will be more used to. This is where you are backing something to happen. For example, that Manchester United will beat Liverpool in the EPL. The difference is that you are betting against another customer rather than Betfair.
Betting on the Betfair Exchange App
Once you have become more comfortable with Betfair exchange betting you will find that the Betfair app is the best way to go. As with any other sports betting app, the Betfair app gives you more freedom to place your bets wherever you are.
Most Popular Betfair Exchange Bets
Although Betfair covers most sports and events, football and horse racing are probably the most popular when it comes to Betfair Exchange lay betting and other types of selections.
As customers are betting against each other, as long as your selection is matched with someone taking the opposite view you can bet on just about anything. You can even name your own odds – as long as someone is willing to match them!
What is the Betfair Exchange Bonus?
Betfair Exchange offers promotions and bonuses just like any other sports betting site. The current welcome offer for new customers is: Money back as cash up to £50 if your first exchange bet loses. Similarly to the rest of Betfair’s promotions, you need to use the dedicated promotion code when registering.
|Betfair Exchange||Money back as cash up to £50 if your first exchange bet loses|
|Eligibility||New customers only|
|Terms and Conditions||
Max £50 cash refund. Bet must be placed in first 7 days of account opening. Payment restrictions apply. T&Cs apply.
Betfair Exchange Commission and Fees
One of the main advantages of using a betting exchange is that you can find better value thanks to the way they are set up. As you are betting against other customers, rather than a bookmaker, the Betfair Exchange commission is smaller than the way bookies balance their books.
When you are placing a bet on a Betfair Exchange football event or a Betfair Exchange cricket event, or any sport for that matter, you just pay commission on your winnings. There is nothing to pay on a losing selection. These low commission rates – and the chance to match your bet with another customer – can make for some very attractive odds.
If you have also opted into the Betfair Rewards scheme you can also pay an even lower commission.
Betfair Exchange Betting Markets
Even if you have never used Betfair Exchange betting before, you will be very familiar with the look of the betting markets on the site. The same range of sports, events and tournaments will be covered – you just have a few more extra options of how to bet.
There are also other betting markets features to look out for at Betfair. As with other top betting sites, Betfair offers the best odds guaranteed on horse racing, as well as the chance to cash out on bets to maximise or consolidate winnings.
There is also a very good in-play betting section that allows you to place bets on events that have already begun. This is option is especially good for exchange betting.
What are the Top Sports to Bet on the Betfair Exchange?
We briefly mentioned these earlier, but the Betfair Exchange football and horse racing markets are always the most popular on this site. The number of events is impressive and the sports lend themselves to exchange betting.
But there is also a good selection of Betfair Exchange cricket markets to check out throughout the year as the game follows a global calendar.
Want to Give Betfair Exchange a Go?
If this Betfair Exchange review has raised your interest levels you may also want to know about the Betfair promo code.
This can be used when you are registering for an account and might be able to activate welcome offers and bonuses. Just click on any of the buttons in this review to find out more,
Betfair Exchange Betting FAQs
Curious about Betfair Exchange? Find more details below, as we answer frequently asked questions.
Can You be Successful on the Betfair Exchange?
Yes, if you are successful with your betting, you can get prizes on the Betfair Exchange. But you should always gamble responsibly and take extra caution if you are new to exchange betting. Peer-to-peer transactions are slightly different to the traditional betting model.
Is the Betfair Exchange Available Abroad?
Yes. As long as Betfair isn’t restricted in the country you are planning to visit, you can bet normally.
What Other Bookmakers Offer Exchange Platforms?
Betfair is one of the most well-known betting exchanges, but there are a few others. Matchbook is a smaller operation and offers good commission rates as well. However, it doesn’t really have the range and brand awareness of Betfair.