Exchanges
Betting exchange
A market where bettors bet against each other instead of against a bookmaker. The exchange matches bets and takes a commission on winnings.
- Good to know
- Prices are often better than at bookmakers, and winning customers are not limited the same way.
Related
Exchanges
Back bet
Betting that something will happen, like a normal bet at a bookmaker. On an exchange someone else lays your bet.
Exchanges
Lay bet
Betting that something will not happen: you act as the bookmaker and take someone else’s back bet.
Exchanges
Commission
The share of your net winnings on a market that an exchange keeps. It replaces the margin a bookmaker builds into its prices.
Spotted a mistake? Tell us