What is a Betting Exchange?
A betting exchange is extremely similar to bookmakers, with one exception.
Instead of betting against the bookmaker, with a betting exchange we bet against each other.
By this we mean if someone, for example, places a bet for Manchester United to win, we can match it by betting that Manchester United will not win. These are known as back bets or lay bets. Learn more here.
The ability to bet against a result happening is the most important part of Matched Betting, as you need the ability to do this in order to cover all possible outcomes making Matched Betting risk-free.
Want to learn more about how a betting exchange works? Head over to our Betting Exchange Guide.
Betfair – The world’s largest betting exchange:
Betfair has been the world’s biggest player when it comes to betting exchanges. They are the dominant exchange in UK and Europe, and the only one in Australia and New Zealand.
What makes them so dominant is their coverage of all sports worldwide and their constant decent liquidity.
These are two factors which are important for us Matched Bettors as without much liquidity our lay bets would not be able to get matched.
Betfair’s signup bonus:
Betfair should be the account you open up first before starting your Matched Betting journey. As we move forward with Matched Betting, our Betfair account will be the the constant account we use on a daily basis.
Don’t have a Betfair account yet? Click here and signup!
They have a great signup bonus for us in which we receive bonus winnings up to 20% or $500 in your first 7 days of betting.
This works well as we can combine it with various bookmaker signup offers.
Got any questions? Contact us here. Or just head to the bottom right hand side of your screen and get on live chat!
Happy Matched Betting!