Published 17/06/2024

The Betfair sign up offer is a great way to start your betting journey, but the bookie offers much more. For example, exchange bets. If you don’t know what Betfair exchange betting is, keep reading this review to find out.

Betfair Exchange Betting

*18+. Max €20 refund on first bet. Bet must be placed in first 7 days of account opening. Payment restrictions apply for the promotion. T&Cs apply. Please gamble responsibly.

Betfair Exchange Betting Offers

At the time of writing this review, there is one exchange-exclusive offer – MONEY BACK AS CASH UP TO €20 IF YOUR FIRST EXCHANGE BET LOSES. However, you can also refer your friends to the operator, and for each successful referral, you can receive €10 in cash after they bet €10 or more on Exchange or some other market. You can keep an eye on our page to find out about any updates regarding the Betfair exchange offers.

Betfair Exchange Betting OfferBetfair Exchange Offer Details
Betfair Exchange Welcome Offer:MONEY BACK AS CASH UP TO €20 IF YOUR FIRST EXCHANGE BET LOSES
Key Terms:Read below*
Minimum deposit:€20 on Betfair Exchange
Payment Options:Debit Cards only
Betfair New Customer Offer – Promo Code 2024VAL***

*18+. Max €20 refund on first bet. Bet must be placed in first 7 days of account opening. Payment restrictions apply for the promotion. T&Cs apply. Please gamble responsibly.

What Is Betfair Exchange Betting?

There are still many players who are wondering – what is Betfair exchange betting? Well, Betfair exchange football fans and other bettors can use it as a way for them to wager against one another rather than the operator. A big part of this is Betfair trading of odds among punters.

You can propose odds or request them from other members, meaning players act like a sportsbook here. The brand will take a small commission on winnings, but the good thing is that you may find more competitive odds than those offered by the sportsbook itself. Also, this kind of wagering allows for a higher level of transparency.

What Is a Back-Bet?

Betfair back betting is an important part of exchange wagering. What it means is that you back a team, horse, or player to win. You simply select back odds, enter the preferred stake amount, and wait for someone to match your wager.

Betfair exchange betting

What Is a Lay-Bet?

When you place an exchange wager, you always place two bets: one back bet and one lay bet. This is a significant difference between an exchange platform and a sportsbook, where you are only allowed to back a selection to win.

The Betfair lay betting refers to backing the selection to lose. Thanks to this option, you can lock in a return more easily if the odds go down after you place a wager. In other words, the betting exchange allows you to back your team to lose once the odds have shortened to guarantee a return.

Lay-Bet

Explaining Betfair Exchange Betting

To truly understand how this type of wagering works, you need to learn how to place a bet on an exchange betting platform. This step-by-step guide will help you get started with exchange betting on the Betfair website.

  1. Firstly, log in to your account and navigate to the ‘Exchange’ section.
  2. Secondly, choose a sport you want to wager on.
  3. Next, find the preferred game, bet type, and odds. You can wager pre-match or place bets on ongoing games.
  4. Then, select either back or lay.
  5. Enter the stake you want to make. The great thing is that you will see the potential profit in the betting slip on the right.
  6. Finally, press the ‘Submit’ button.

Alternatively, you can be the one to first offer the odds for a certain game or race. But you don’t have a wager until another player who makes a different prediction from yours matches it.

Moreover, your bets can be matched, partially matched, or unmatched. If no one matches your wager before the market closes, you will get a refund. Finally, note that the bookie charges a 2% commission on winning bets.

Betfair Exchange App

One notable thing about this bookie is that it offers an exchange-exclusive application in addition to other Betfair apps. Moreover, you can place a wager on the Betfair Exchange app following the same steps outlined in the section above. You can place either a pre-match or an in-play bet and watch events live.

Additionally, you can use any of the methods offered on the site to fund your account and withdraw money from winning exchange bets. These include debit cards, regular and instant bank transfers, eWallets, Paysafecard, Trustly, and Rapid Money Transfers.

Betfair Exchange Betting Conclusion

Betfair exchange horse racing bettors and fans of other sports can use gives them a chance to match their predictions against other customers. They can place lay bets, potentially select higher odds than on the sportsbook, and enjoy the thrill of competing with other players. Moreover, Betfair is one of the few operators where you can take advantage of this feature.

Betfair Exchange Betting FAQ

Finally, you can learn more about exchange betting on the Betfair site in the following FAQ section.

What’s the difference between exchange betting and sportsbook?

Unlike sportsbooks, exchange platforms enable you to place a lay bet – back the selection to lose. Additionally, exchange betting means that you are matching wagers against other punters, not the bookmaker. But your exchange bet doesn’t necessarily have to be matched, in which case, your stake is returned in full.

Is Betfair exchange betting safe?

Betfair is licensed and regulated by the Gambling Commission. In that sense, it ensures a secure environment and always pays out winning wagers.

Does exchange betting have better odds?

In general, you can pick more competitive odds on the exchange than a sportsbook.