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Sports Betting

How to Choose an Online Betting Exchange Website?

written by Nitin Garg | Nov 16, 2022
How to Choose an Online Betting Exchange Website

Are you looking for reliable betting exchange software? Nowadays, betting exchange websites come a dime a dozen. It is very hard for consumers to find the best online betting exchange website with exciting rewards and offers. 

Betting Exchange apps are becoming very popular in the sports betting industry. One of the primary reasons for the popularity of these websites is that they offer better incentives and more opportunities to their bettors. 

The popularity of these platforms is also giving rise to many sportsbook software providers. There are plenty of betting exchange platform providers that can help you develop your own betting exchange website. The market is booming and these types of websites are becoming the new norm. Don’t believe us? Let us look at some market statistics. 

The sports betting and lottery market was valued at $194.6 billion in the year 2021—a significant increase over last year’s $173 billion.

According to Statista, there are over 25,000 sports betting businesses operating worldwide. 

The sports betting industry in the United States generated a revenue of over $4.3 billion dollars in the year 2021. (Source)

If you are looking for a Betting exchange platform like Betfair, you are in the right place. In this blog, we have handpicked the best betting exchange sites in the market after extensive research. These websites provide the most lucrative offers and rewards to their users. But first, let us know more about Betting Exchange.

What is a Betting Exchange?

Betting exchange apps are different from traditional sports betting platforms. One of the most prominent differences is that these websites allow punters to bet against each other rather than the bookmakers. These websites provide better odds and more opportunities for bettors than traditional betting platforms. 

In the absence of the bookmaker, the bettors have the ability to set their own odds and bet against each other. In betting exchange platforms, you can bet on practically anything as long as there is another person to take that bet. Unlike traditional sports betting, there are only two types of bets at a betting exchange platform.

Types of Bets in a Betting Exchange

Win

This is a common type of bet on sports betting platforms. In basic terms, you are staking your money on a specific outcome and hoping the match goes that way. For example- you bet on a specific team to win a match. In a WIN bet, you are backing a certain team or player to win a match or perform a specific outcome. You win the bet if the outcome comes in your favor. Also, these kinds of bets generally provide higher odds

Lay

These types of bets allow you to step into the bookmaker’s shoes. Lay bets are what differentiates betting exchange platforms from sports betting websites. These bets allow you to bet on a specific outcome of a match NOT happening. These bets are generally very risky because you bet against the interest of your fellow bettors. 

By now, you must be familiar with the betting exchange platform and the types of bets they provide. You must be wondering about how to choose the best betting exchange platform that can provide you with the best incentives and offers. Don’t worry, we’ve got you covered. 

Read More:- Crypto Sports Betting Software Development Cost & Features

Factors to Consider While Choosing a Betting Exchange Website

Factors to Consider While Choosing a Betting Exchange Website

Wide Variety of Sports

You must choose a betting exchange platform that provides a wide range of various sporting events. There are a lot of sporting events in betting exchange apps like cricket, hockey, football, horse racing, etc. It never hurts to have multiple options. Make sure to check the variety of sports the platform offers before signing up. 

Variety of Bonuses

Betting exchange sites offer plenty of bonuses but these bonuses differ on every website. Ideally, you want to register with a betting exchange that has a lucrative welcome bonus. Welcome bonuses will help you get started on the platform. Mostly, betting exchange websites provide free bets as bonuses. You want to choose the betting exchange website that provides better monetary incentives so you can enjoy higher profits. 

Commission Rates

Betting exchange sites take a cut from your winnings. The percentage of the commission can vary depending on the betting exchange you pick. You must choose the betting exchange that provides lower commission rates so you can take a higher percentage of your winnings. Mostly, the commission rates range from 1% to 5%. 

User-friendly UI

One of the most appealing aspects of a betting exchange is its UI. Generally, betting exchanges are quite complicated which can be overwhelming for beginner punters. It is recommended to use a betting exchange platform that is clean and easily navigable. A clean user interface will feature stunning visuals and seamless navigation and will provide you with an immersive betting experience. 

Read More:- Sports League Management Software: Everything You Need to Know

Best Betting Exchange Websites in the Market

Here is a list of betting exchanges that are dominating the market with their lucrative offers and exciting welcome bonuses. 

Best Betting Exchange Websites in the Market

MatchBook

Matchbook Betting Exchange is a leading platform in the market. The company has a massive user base of loyal customers. One of the most lucrative features of Matchbook is that they keep providing new offers to its users. Currently, they are offering a £30 welcome bonus with a money-back as a free bet offer if you lose the bet. The user interface isn’t bad either, it’s not revolutionary but it is straightforward and won’t give you any trouble either. 

One important thing to note is that Matchbook has a pretty steep minimum withdrawal amount of 500 pounds. 

Pros of Matchbook

  • Wide Variety of Sports
  • Live Chat feature
  • Dedicated app for Android & iOS
  • Lowest Exchange Commission
Welcome Bonus£30- Money back as a free bet in case of loss. 
Commission2%
LiquidityMedium

Betdaq

Betdaq was launched in 2000 and is one of the leading betting exchanges in the market today, The company was taken over by Ladbrokes Coral Group in 2017 which means you don’t have to worry about financial security. The platform has built up a pretty heft customer base over the years. The most appealing features of this platform are the user-friendly platform and dedicated betting exchange apps for Android and iOS. They offer all the major sporting events providing bettors to bet as they see fit. 

Pros of Betdaq

  • Low Commission
  • No Premium Charge
  • Live Chat
  • Best Odds Available
  • Exciting Promotional Offers
Welcome BonusBet £10, Get £10
Commission2%
LiquidityMedium/High

Read More:- How Much Does it Cost to Develop a Sports Betting Application?

Smarkets

Smarkets is one of the most popular betting exchanges out there. It is among the best in the market and stands on top of the competition. Why is Smarkets one of the best? Well, Smarkets sits on top of the competition because they focus on providing value and excellent service to their customers. Smarkets features one of the best coverage out of all the betting exchanges with great liquidity and low commission rates. They also provide a dedicated mobile app that is easy to use and provides stunning visuals to the users. 

Pros of Smarkets

  • Fantastic Mobile App
  • Better Odds at Low Commission
  • Modern Betting Platform
  • Live Chat
  • Live Odds Data Graphs
Welcome Bonus0% commission for 60 days OR £20 cash refund on losses
Commission2%
LiquidityHigh

Ladbrokes

Ladbrokes is also a household in the betting exchange industry. It is owned by the same company that took over Betdaq- Ladbrokes Coral Group. The two platforms are actually linked and the funds go to the same place regardless of where you bet. Ladbrokes is ranked lower than Betdaq because of the commission rates and the overall betting experience. You can get commission rates as low as 2% on Ladbrokes depending on the amount of the bet. Normally, Ladbrokes offers a 5% commission which is higher than all the companies on our list. 

Pros of Ladbrokes

  • Reliable Customer Support
  • Generous Bonus Offers
  • Easy-to-use and navigable user interface
  • Multiple Payment Options
  • All Major Sports Included
Welcome BonusUp to £20 free bets to New Customers
Commission5%What is a Betting Exchange?
LiquidityMedium

Betway

Betway is a veteran in the betting exchange industry with over 10 years of experience. It is licensed by the Malta Gambling Authority which makes it a highly reliable betting exchange platform. Betway excels in providing a variety of payment options to its users and has a reliable and active customer support team. The betting exchange also offers a ton of popular sporting events and some not-so-popular ones. There is also an e-sports section and an online casino for bettors who want a new experience. 

Pros of Betway

  • Licensed Platform
  • Plethora of Betting Options
  • Multiple Payment Methods
  • Dedicated E-sports Section
  • Multilingual
Welcome Bonus100% match bonus up to £50
Commission5%
LiquidityMedium

These are some of the best and most reliable betting exchange providers in the market. If you are looking for Sports betting website development services, BR Softech is a sportsbook software provider that will help you create a reliable betting exchange website. 

Read More:- Sports Betting Exchange Software Provider: An Ultimate Guide

Final Thoughts

Choosing the most suitable betting exchange site can be an arduous task. There are a plethora of options available in the market. You must select the betting exchange that is the most suitable for you. If you’re looking for an attractive welcome bonus, you can go for Smarkets or Matchbook. It ultimately depends on your preference. Choose the betting exchange most suitable for you and start winning. 
Want your own Betting exchange platform? BR Softech is a Sports betting software development company that will assist you in every step of the development process. Our developers are well-versed in the latest technologies and will help you develop an interactive and reliable website that will allow you to maximize your revenue potential.

Frequently Asked Questions(FAQs)

Q. Do you provide customized betting exchange software solutions?

Yes, BR Softech offers customized betting exchange software that is tailored according to the client’s requirements. Our developers take your suggestions into account and create reliable software with a quick turnaround time.

Q. Is it necessary to get a gambling license for a betting exchange platform?

Yes, it is mandatory to procure a gambling license if you are operating a betting exchange platform. You can’t conduct gambling activities without a license.

Q. What is the development cost of a betting exchange software?

The cost to develop a betting exchange software is dependent on various factors. On average, the development cost of a single platform app with basic functionalities ranges from $30,000 to $50,000. However, if you want to develop a cross-platform application with advanced features, the price can shoot up to $80,000. 
The cost to develop a betting exchange software is dependent on various factors. On average, the development cost of a single platform app with basic functionalities ranges from $30,000 to $50,000. However, if you want to develop a cross-platform application with advanced features, the price can shoot up to $80,000. 

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Nitin Garg

I am Nitin Garg Founder of BR Softech PVT LTD - an Award-winning, app, web & game development company. We are armed with 180+ geeks & 2753 clients worldwide, I have driven by the spirit of entrepreneurship and dream to build a billion-dollar-company.

About Us

BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2012 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, and mobile game/software development intending to deliver outstanding digital outcomes.

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