Where Should You Be Lay Betting?
August 8, 2017
When starting your matched betting journey, a key decision each person needs to make is which betting exchange to use. As lay betting is a key part of the process, you want to make sure that you are placing your lay bets at the right place. Well, lets have a look at the options and see which is the best.
The most popular betting exchange overall is Betfair, who have been massively successful since their launch in the year 2000. Now with over 4 million customers worldwide, their main strength comes from the fact that they list more markets than their competitors, which gives you more choice when looking for a close match. As they have more users than the rest, it also means there is often more liquidity in most markets, meaning your lay bet is more likely to be matched. The downside to Betfair Exchange is the fact they charge a commission rate of 5%, which is higher than their competitors.
A good alternative betting exchange is Smarkets, who have been keeping Betfair on their toes since 2008. The main attraction with Smarkets is the comparatively low commission rate of 2% that they charge on net winnings. As matched bettors place so many lay bets, the difference between paying 2% and paying 5% could be huge in saving you money in the long run. Using Smarkets consistently can add to profits as you will be parting with a lower percentage of your winnings. That being said, there is likely to be less liquidity available for more obscure events, meaning you may not be able to match your bet.
Another looking to claim the betting exchange crown are Betdaq, who claim to process over £75m worth of bets each week. Their main strength is their reliability. While they don’t really offer anything that the previous two options don’t already offer, there will be occasions where Betdaq will be offering the best value on some markets, or they are the only exchange that has enough liquidity for a certain market. For this reason, they should be considered.
Lastly, Matchbook also offer very low commission rates which makes them an attractive proposition. At the time of writing, their sign up offer also gave customers the chance to earn up to £500 cash back on commission paid in your first five weeks. For every £5 in commission you pay, you will receive £5 back as cash. This alone makes using Matchbook, at least for a short time, well worth it. Though there will be less liquidity for less popular events, if you are sticking to big events such as the English Premier League, there’s no reason not to consider Matchbook.
Overall, each exchange has their positives and negatives. It is advisable to have an account with all four, as each will have their use at some point. Whichever one you decide to use, our matched betting odds finder known as the Odds Matcher will compare the odds available on each betting exchange and will give you the best option when matching your bet.