Exploring the Best Alternatives to Betfair Exchange

Betfair Exchange is recognized globally as a leading online betting platform, boasting a vast customer base that results in robust market liquidity. Yet, it's not without its drawbacks—such as higher standard commission rates when compared to other top exchanges and geographical restrictions that limit its accessibility in certain regions.

In this article, we delve into some of the most compelling alternatives to Betfair Exchange, examining their unique features, advantages, and limitations.

Why Not To Use Betfair Exchange

Betfair Exchange is the go-to betting platform for millions of traders and punters worldwide, earning the title of the premier betting exchange in the eyes of many.

But what drives punters to seek alternatives to Betfair?

High Commission Rates

One prominent reason to consider other betting exchanges is the commission fees imposed by Betfair.

Betting exchanges profit by charging a commission on the customers' winning bets. In contrast, traditional bookmakers don't levy a commission, as they operate by applying a margin to their odds, often resulting in less favorable odds than those of exchanges.

With a market base rate of 5% commission on winning bets, Betfair Exchange imposes one of the heftiest fees among top exchanges. While opting into Betfair rewards can alter this rate to anywhere between 2%, 5%, and 8%, the default remains at 5%. Additionally, users outside the UK face even steeper rates.

The 5% commission rate is considerably steeper than what most other exchanges charge, prompting some users to look for alternatives.

Restricted Countries

Betfair Exchange caters only to customers from specific countries, necessitating a search for alternatives for those residing in regions not serviced by Betfair.

Currently, Betfair Exchange doesn't extend its services to clients from Canada, China, Côte d'Ivoire, Cuba, DR Congo, Eritrea, France, Greenland, Iran, Iraq, Israel, Japan, Lebanon, Libya, North Korea, Portugal, Somalia, Sudan, and Turkey.

Top 3 Betfair Exchange Alternatives

Fortunately, those deterred by Betfair's high commissions or its limited geographical reach have several other options for placing both back and lay bets on a betting exchange.

Smarkets

Smarkets Smarkets stands out as a prominent alternative to Betfair. Founded in 2008 by entrepreneurs with expertise in finance and technology, Smarkets aims to offer a fair and efficient alternative to conventional bookmakers and has rapidly gained popularity.

Smarkets sets itself apart with low commission fees, a primary selling point when it launched to contest Betfair's dominance, charging only a 2% fee on net winnings—significantly lower than Betfair's 5% base rate. The platform's user-friendly design appeals to many users.

Another advantage Smarkets offers over Betfair is that new members can enjoy a 0% commission for the first 60 days as part of their welcome bonus.

One drawback to Smarkets is its smaller user base compared to Betfair, potentially leading to reduced liquidity in certain markets. However, if you generally wager on popular markets like match-winner or first goalscorer, you should not encounter difficulties in matching your bets.

Smarkets

New Customer Offer

0% Commission For 60 Days

Smarkets Sign Up Offer

Claim Offer

Use the promo code COMMFREE to enjoy 0% commission for 60 days. Requires a minimum first deposit of £10/€10 via Debit Card or Instant Banking. Full T&C’s apply .18+. BeGambleAware.org. #ad

Matchbook

Another notable alternative to Betfair is Matchbook, established in London back in 2004 and among the first major challengers to Betfair, which began four years earlier.

During its early years, Matchbook struggled to carve a niche in the competitive betting exchange market. However, through persistence, innovation, and continuous platform improvements, the introduction of a new pricing model in 2010 helped lower commission rates and attracted more users.

Matchbook has consistently enhanced its services, maintaining its reputation as a solid alternative to Betfair. Notable milestones include the launch of a mobile app in 2012 and the expansion into a variety of markets, including politics and entertainment, the following year.

One of the major advantages of Matchbook betting exchange Matchbook's appeal lies in its competitive commission rates; UK customers enjoy a modest 2% fee on net winnings, consistent with Smarkets, while charges for non-UK users—outside of ROI, Channel Islands, and Isle of Man—are slightly higher at 4%.

Like Smarkets, Matchbook's user base is smaller compared to Betfair's which might impact liquidity in some smaller markets, but this concern is diminishing with growing popularity.

Matchbook

New Customer Offer

Bet £50 Get £50 in Free Bets

BONUS CODE: GET50

Claim Offer

New customers only. Register using Bonus Code: GET50. To access free bets, participants must bet and settle £50 exclusively on Matchbook Exchange, covering at least four distinct events. Terms and conditions apply. Please gamble responsibly. 18+ #ad

Betdaq

Betdaq Betdaq, established in 2000 by Irish businessman John FitzGerald, emerged as the first significant contender to Betfair, which launched two years prior.

Much like Smarkets and Matchbook, a primary distinction between Betdaq and Betfair is the commission on winning bets. Betfair imposes a 5% base fee, whereas Betdaq provides a more attractive 2% rate—an appealing prospect for frequent or high-stakes bettors.

One downside of choosing Betdaq over Betfair lies in the liquidity of markets. Betfair, being the largest exchange globally, enjoys higher market liquidity, meaning a better chance of matching bets at desired odds. Betdaq, due to its smaller scale, might not offer such favorable conditions.

Betdaq presents a broad selection of sports and markets to bet on, from horse racing and football to American football, basketball, ice hockey, and even esports.

Betdaq users benefit from a range of payment alternatives, including PayPal, Skrill, and Neteller, facilitating easy fund management.

Ultimately, for those eagerly seeking reduced commission rates while enjoying a diverse range of sports and markets, Betdaq is a sound alternative to Betfair.

Betdaq

New Customer Offer

Bet £10 Get £10

Betdaq Sign Up Offer

Claim Offer

18+ only. Restrictions apply to certain countries. API/RDT customers excluded. Minimum £10 exchange bet at odds 2.0 or more within 14 days of registration. Free bets valid on exchange for 7 days. Stakes not returned. Direct bank card deposit only. No cash-out options. New customers only. Free bets credited within 72 hours upon meeting staking requirements. Terms and conditions apply. #ad

Summary

Though Betfair continues to dominate as the world’s leading betting exchange, its steep commission fees fuel the search for alternative platforms. This demand has led to the rise of other exchanges like Smarkets, Matchbook, and Betdaq, all of which offer lower commission rates on winning bets and provide coverage over global sports and markets.