HOW TO CHOOSE A BETTING EXCHANGE

Even if you prefer to bet with a traditional bookmaker, online, on the telephone or in a high street betting shop, it could prove worthwhile to have an account with a Betting Exchange.

The unique abilty to lay a selection could allow you to lock in the profit of a bet already placed with your favourite bookmaker if it starts off well. You may find the best odds for your selection at the Betting Exchange, you'll find more speciality markets on the Exchange and of course, if you are looking for a bet while you are watching a live event, there are loads of live betting markets available on the Betting Exchanges.

THE BASICS OF CHOOSING A BETTING EXCHANGE
Pick a Betting Exchange you can trust
See if the Betting Exchange promotes a free bet offer
Look for good market liquidity
Check the terms and conditions for minimum deposits, deposit/withdrawal fees, commission rates

 

How to Choose a Betting Exchange you can trust

At best free bets we research the bona fides of all the online bookmakers and Betting Exchanges featured on the website to give you confidence that your financial transactions will be secure.
The choice of Betting Exchanges is not as wide and varied as with online bookmakers, however it remains worthwhile getting to know the strengths and weaknesses of those available before deciding where to sign up. Check the reviews in the BOOKMAKER section on best free bets and feel assured we will only recommend reliable and trustworthy Betting Exchanges.

Offers and Promotions

Since you will be betting with other members of the exchange, it is difficult for Betting Exchanges to offer free bets in the same way as online bookmakers, however there is strong competition between the various Betting Exchanges to win your custom and a number will offer incentives to attract your custom.
Some of the bigger Betting Exchanges are prepared to refund your first bet should it turn out to be a loser and you will typically see this offer promoted as a Risk Free Bet.
Remember, these Risk Free Bets are a one-time offer, only available when you register as a new customer, so ensure you understand the terms of the Free Bet and take advantage of the offer within the qualifying period.
Best free bets continually monitors the special offers promoted on Betting Exchanges and will keep you informed of new introductory deals as they transpire.
From time to time, you may get offered reduced commission rates as part of a promotion for a limited period and like online sportsbooks, some exchanges will run prize competitions

Look for good market liquidity

The market liquidity is the amount of money available in a particular betting market (or event). The bigger Betting Exchanges attract good volumes of money for the majority of markets which means it will be easier to match the bet you want.
Unlike online bookmakers who will offer their odds for every selection in the event and be prepared to accept a bet on those advertise odds, the Betting Exchanges rely on individuals to post offers to Back and Lay each selection for the markets listed. In this environment it is possible for some selections to have no odds posted to Back and/or Lay or the offers can be too far removed from the general market price available with bookmakers to be accepted by other Betting Exchange members.
It is quite common for bets to go unmatched on the Betting Exchange, but this will happen less often when there is good liquidity.


Check the terms and conditions

Before registering with a Betting Exchange, spend some time looking through the terms and conditions. Take particular attention to the Deposit and Withdrawal methods to ensure they suit your needs and make yourself aware of any charges you may incur.
Minimum and maximum deposit/withdrawal amounts may vary and again, these should suit your own needs.
Check the commission rates and understand where and when these will vary and how to qualify for reduced commission rates.
Account management functionality on Betting Exchanges is usually excellent, make sure there is a comprehensive explanation to understand and manage your account.
Rules for the individual bets you place are normally briefly explained alongside each individual market and it is important to understand the rules concerning unmatched bets once the market goes ‘live’. You may want to withdraw your unmatched bet once the event has started.

Find out more information in best free bets’ Betting Guide

BETTING EXCHANGES EXPLAINED

ADVANTAGES OF USING BETTING EXCHANGES

BACKING, LAYING and TRADING EXPLAINED

HOW TO OPEN AN ACCOUNT WITH A BETTING EXCHANGE

BETTING EXCHANGE TERMINOLOGY (A-Z)

 

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