Betting exchanges are online betting platforms that allow bettors to compete against other bettors instead of a bookmaker using back and lay matched bets. Betting exchange UK platforms are the pioneers of this peer-to-peer betting system and they have some characteristics that distinguish them from others. Knowing how betting exchanges UK platforms work, can help bettors that cannot have access to them how to look for the best alternative choices in order to have similar betting experience.
How to Find the Best Betting Exchange UK Sites
Betfair is by far the best betting exchange UK platform and the best exchange in the world in general. Smarkets is another popular betting UK site. These exchanges are trusted and they have been around for many years.
In order to find other good betting exchange UK platforms, bettors need to:
Look at the fees
Betting exchanges charge a small fee on winning bets. This fee may vary from 2%-7% depending on the exchange. As these fees impact the net profit, it is good to always check them.
Check the odds
In betting exchanges, the odds are usually better than traditional bookmakers because there are no margins involved and the odds are set by the bettors in the platform. Bettors can compare sites to see who offers the best.
Read reviews
Many people share their experiences online. Bettors can look for reviews about the most popular exchange UK platforms.
Key Characteristics of Betting Exchange UK Platforms
Regulation and Trust
Betting exchange UK platforms are regulated by the UK Gambling Commission (UKGC). They follow very strict rules to protect their customers and the UKGC license makes sure these platforms are safe, reliable and fair.
Betting exchanges outside the UK might not have the same strict regulations, which can sometimes make these platforms less secure.
Market Variety
Betting exchange UK platforms offer many sports and markets but they focus mainly on popular sports in the UK, such as football, horse racing and tennis. They also offer political betting and other niche UK specific markets.
International exchanges may focus on different sports or events, like cricket in Asia or basketball in the USA. Each exchange’s market selection reflects regional interests.
Liquidity
Betting exchange UK platforms often have high liquidity, especially on major sports. High liquidity means there are plenty of bets and money placed on a specific market. This means that bettors can place large bets and still find other bettors to match their bets without causing the odds to move dramatically.
Liquidity on smaller exchanges can be lower, making it harder to place large or uncommon bets.
Commission Fees
UK betting exchanges charge a commission fee on winning bets that ranges from 2% to 7%. Premium charges may apply for high-volume bettors. On international exchanges, fees are usually lower in order to attract global customers.
Technology
Betting exchange UK platforms like Betfair and Smarkets invest heavily in technology. They offer fast platforms and user-friendly interfaces with features like statistics, in-play betting and cash-out option. They can also sustain the loading speed even in high traffic hours.
Smaller or less-developed exchanges might not have the same level of technological support and speed. However, in recent years a lot of global platforms are catching up.
Restrictions
UK platforms are usually restricted to users within the UK and specific countries that allow access. They often require proof of UK residency for registration.
International exchanges are usually more flexible. They might allow users from regions where UK platforms are unavailable.
Betting Exchange UK Alternatives
Not everyone can register on a betting exchange UK platform because they might not live in countries where these platforms are accessed or they might lack the right documents for UK registration.
For those who cannot use the exchange UK platforms, there are alternatives especially to Betfair that work as mirror sites but can only be accessed through a betting broker. Betting brokers collaborate with these alternative betting exchange, they give access, they handle the accounts of their customers and they offer them support service for anything they might need.
Some popular alternative betting exchange options are Orbit Exchange, WInfair24 and Betnfair.
In Short
Betting exchange UK platforms are leading the online industry and they are ideal for those who want high odds, many betting options, security, reputation and advanced technological support. For those who cannot use a UK platform, they can try alternative choices through betting brokers for a similar betting experience.