Betfair Exchange Review
I’m on a mission to share as much information on the subject of matched betting as I possibly can. After all, I want everyone to have an equal opportunity to earn £20,000 in tax free cash this year…
While I’ve recently completed a detailed and in depth matched betting FAQ post. One question I struggle to answer is “Which betting exchange should I use?”
That’s because unfortunatly the answer is highly dependent on a vast array of variables. The only way I can combat such a question is by reviewing each of the five betting exchanges currently on the market.
Today I’m starting with the biggest (although that doesn’t necessarily make it the best) Betfair.
Betfair is the largest betting exchange. It's mobile application makes it simple to lay bets whilst you're out and about. It's a large market variety, allowing you to lay bets on a vast array of different outcomes and it's huge market size means it's often got the largest market liquidity. Unfortunatly, all that comes at the cost of commission which is set to 5%.
For me the prospect of a truly great betting exchange comes down to three things, and it’s those three things that I’ll be covering in every betting exchange review.
The Betfair Exchange without a doubt holds the largest of all wagering options. Name something you want to lay and Betfair has it. In fact I’ve struggled to find something I can’t lay on Betfair.
This includes obscure matches, greyhound racing, in-play bets, cycling, cricket. Even weird and obscure stuff such as who will host the 2024 Olympics or who will be the next Dr Who.
While you maybe saying to yourself “Who would bet on that” In my early days of matched betting there was a promotional offer on one of the bookmakers for the winner of Big Brother. Luckily the Betfair exchange once again had me covered.
There’s no denying that the wagering options on the Betfair exchange get’s 100/100.
The second big thing I really care about in a betting exchange is the market liquidity. That’s the amount of money in the market, to ensure that you’re bet doesn’t become partially matched.
I’ve been in situations in the past where it’s been seconds until kick off or until a race starts and my bet is still partially matched because I’ve failed to check how much money is in the market.
Luckily, Betfair has the largest amount of money in the market. Which is pretty much a given considering the size of the exchange.
This means that if you are going to be betting on slightly less mainstream events then you’re going to want to use Betfair to do so.
You can always check the amount of money in the market using the numbers provided, and remember you don’t need to mug bet the exchanges, they wont gub you.
Betfair knows it’s the king of the market, and by doing so will charge the highest commission on the exchange market at 5%.
This is unfortunatly the one reason why I’d put off using Betfair over other exchanges on mainstream horse racing and football matches where the availability and market liquidity is highly available.
Luckily, Betfair exchange do offer new customers 0% commission up to £50 / €50 which does make up for something in the short term… Click on the image below to sign up and receive the offer.
Betfair is a bookie as well as an exchange. Much like the Ladbrokes exchange. Which means while they wont ban / gub your exchange account they may ban you on the bookies side of things.
There are a couple of things you can do to avoid this. The first being, don’t ever back and lay the same bet with the same company. If you’re trying to trigger an offer on Betfair don’t lay the bet off on Betfair. Instead look to use one of the other exchanges.
Do your best to use the Betfair exchange only as and when you need it. Other exchanges cover the market almost as well as Betfair which means you should only need your Betfair exchange account on select occasions. Reserve the Betfair exchange for just that, select occasions.