Betfair is hands down the number one betting exchange in the UK and this has been the case for as long as I remember. With tons of betting markets and high liquidity across sports, it’s no wonder Betfair’s dominated for so long. That said, if you enjoy placing smaller bets, the 5% commission charged by Betfair on winning bets can land a significant blow to your profits. Luckily, you don’t have to stick with it – there are other UK exchanges offering much lower commissions, starting from 2%.
You’re not exactly spoilt for choice when looking for a Betfair alternative. Right now, there are only three other betting exchanges licensed to operate in the UK. Also, each of them offers a 2% commission, so your pick will come down to your betting style and the liquidity available on these sites. Stick with me as I break down how each Betfair alternative stacks up in terms of markets and liquidity, plus a few other things to keep in mind when making your choice.
Top Betfair Betting Exchange Alternatives
Below, I’ve provided an overview of betting exchanges that you can use instead of Betfair and what to expect from each site:
#1. Smarkets
One thing that immediately caught my eye with Smarkets is their 2% flat commission on all winning bets – miles cheaper than Betfair’s 5% starting rate. For context, if you win £100 on Smarkets, you’d only need to pay £2 in commission, while Betfair would take £5 for a £100 win. If you took out a calculator and punched out the differences in profits with Betfair and Smarkets’ commission rates over a specific period, you’ll find that these savings add up.
Smarkets also offers 23 sports markets, which is similar to what you’ll find with Betfair, and I like that they have markets for less popular sports – you can have a bet on darts and snooker, plus they’ve even got esports. The football section’s nice and tidy too, with different sections for popular, in-play, upcoming, and outright markets. Impressively, you’ll find everything from the Premier League right down to the English Professional Development League. I’ve got to say, I’m a fan of the bet builder and enhanced stats feature showing key match statistics and action, even if these are only available for football at the moment.
I love the modern design of the Smarkets website, including the ability to switch between light and dark modes. In-play betting is a joy on Smarkets, with flashing lights indicating when odds for live events have either dropped or increased. I also didn’t have trouble navigating different sections of the website; however, I feel some minor adjustments can be made to improve user experience.
For example, I only realized the blue-marked odds were for laying bets when I started adding options to my slip. I feel red would’ve made more sense for the ‘Bets Against’ options – making it a bit clearer for newbies to figure out what’s for backing or laying at a glance.
Pros
- iOS and Android apps available
- Extensive selection of sports betting markets
- Several deposit and withdrawal methods available to use
- Live chat support is available on the website
Cons
- Smarkets offers only 60 days of no commission, which is smaller than 100 and 110 for Betdaq and Matchbook respectively
- Lower liquidity on non-popular sports events and betting markets
- The Smarkets platform suffers downtimes occasionally
#2. Betdaq
Betdaq, once tied to Ladbrokes, has followed Smarkets’ lead by offering a 2% commission on all winnings. That’s a nice perk, but what also makes Betdaq a decent replacement for Betfair is the range of sports on offer. There are currently 17 sports markets that you can bet on with Betdaq. And although this doesn’t quite match up with Betfair’s selection, you can place wagers on popular sports like football, basketball, tennis, and cricket.
To be fair, I wasn’t surprised to see the lack of liquidity for the lesser-known sports. It’s pretty much expected since Betdaq doesn’t have the same hype or user base as Betfair. As a result, you might struggle to get your bets matched on some niche sports – and even on certain markets for the big games. I mean, I couldn’t even get anyone to lay my ‘anytime goalscorer’ punt on Marcus Rashford for United!
One of the better features on Betdaq is the exchange’s welcome offer of 0% commission for your first 100 days, which is an excellent way to kick things off. Even better, you can get up to £1,000 in cashback from the commission you’re supposed to pay for winnings during your first month of using Betdaq. Like all other exchanges, in-play betting is available on Betdaq. However, I was let down by the absence of a bet builder on the exchange. Still, you can combine multiple picks into one slip and place Doubles, Trebles, Trixies, or Patents, so it’s not all bad.
Pros
- 100 days no-commission offer for new users
- Apps for Android and iOS
- Users can combine multiple picks into one bet slip
- Enhanced specials on certain sports events
Cons
- In-play betting is available for fewer events
- Smaller liquidity makes it harder to place bets
#3. Matchbook
Like other Betfair alternatives, Matchbook charges a 2% commission that is paid on your net wins only. Matchbook only has 12 sports markets, the fewest out of the Betfair alternatives. But they make up for it with a handy bet builder where you can combine popular picks like match results, total goals, corners, and even some player stats. One of Matchbook’s best perks is the number of promotions they offer new punters. You get a 0% commission for 110 days on all sports – the longest-running offer among Betfair alternatives. Plus, there are loads of free bet bonuses, especially for horse racing and football.
When I compared odds for a few horse races and football matches between Matchbook, Smarkets, and Betfair, I found Matchbook’s odds were generally on par or even a smidge better. The liquidity’s solid too, especially for big football matches, and I was pleasantly surprised to see a decent pool on some snooker matches as well. From my perspective, Matchbook’s strategy of focusing on fewer events seems to be working a treat, with sizeable liquidity for several sports.
The Matchbook website is a bit cluttered, but I did like the quick links to all sports on the left side of the homepage. The promo banners were a bit much, hogging up a fair bit of the screen, but the tour feature is brilliant. If you’re new to exchange betting, Matchbook’s tour walks you through everything – from the difference between lay and back bets to understanding liquidity and checking if your bets are matched.
Pros
- Best liquidity among Betfair alternatives
- Odds for sports markets closely match what is on Betfair
- Multiple promotions for new and existing users
Cons
- The website can be difficult to navigate
- Fewer sports betting markets
What to Consider when Choosing a Betfair Alternative
Right now, it’s pretty easy to pick a Betfair alternative since there are only three other options. I can’t fathom why more UK bookies haven’t launched an exchange yet. Maybe Betfair has too much of an advantage and punters aren’t easily swayed, however, if more betting exchanges pop up – as I expect they will – you’ll have to decide whether to stick with my recommendations or give these new platforms a go. If you’re up for testing the waters with a new betting exchange, here are some of the things you want to look out for:
Commission
When choosing a betting exchange, one of the first things you want to look at is the platform’s commission rates on winnings. With Betfair charging a starting 5% commission on winnings, it’s no surprise that Betfair alternatives are trying to lure you in with lower fees, with all the sites I’ve recommended charging a standard 2% fee on your wins. As I’ve earlier stated, lower fees mean you save more and make more profit in your pocket in the long run, so it’s worth checking this out before you settle on an exchange.
Variety of Betting Markets
While lower commissions are a great starting point, what keeps you coming back to a betting exchange is the variety of markets available on such a platform. After all, it doesn’t matter how low the commission is, if you can’t find events to bet on. I opt for the exchanges that cover niche markets alongside popular sports. Luckily, Smarkets and Betdaq, do a solid job of offering multiple betting markets. The key is finding a platform that offers the events you’re most interested in betting on, whether it’s the Premier League or a bet on snooker in an obscure competition.
Available Liquidity
Being able to bet on multiple sports events with lesser commission is nice; however, this all becomes pointless if there isn’t enough money in the market for you to lay or match bets. Without enough liquidity, you’ll struggle to place back or lay bets, especially if you’re betting larger amounts or wagering on lesser-known competitions and niche sports. Betfair currently holds the lead in this department with the most liquidity because of its massive user base, but alternatives like Matchbook are fast catching up as more users migrate to and place bets on these platforms.
Reliability and Reputation
When choosing a Betfair alternative, you want a platform that can handle high traffic, especially during peak days, like UCL nights or Grand Slam finals. More importantly, you want an exchange that will pay out your winnings without hassle. I trust the sites I’ve recommended to perform well in these aspects, but it’s always a good idea to do your research by checking online user reviews.
Also, you’ll want to stick with exchanges licensed by the UK Gambling Commission (UKGC), as these sites meet strict safety and fairness regulations. All of my recommended Betfair alternatives are licensed by the UKGC, but if you’re going outside my picks to choose a betting exchange, ensure to verify its licensing.
Conclusion – What Betfair Alternative Should You Go For?
If I had to pick a deputy for Betfair, I’d go with Smarkets. They might be one of the newest among the Betfair alternatives, but Smarkets has quickly built up a solid userbase thanks to the variety of sports betting categories and betting markets on the site. I checked out a random English National League match on Smarkets, and there were 101 markets to choose from!
However, as with every Betfair alternative, the low liquidity on Smarkets is a major concern. Matchbook comes the closest to matching Betfair’s liquidity for big events, but you’ll notice a lack of niche sports and fewer markets for lower leagues. Betdaq provides a few more betting markets than Matchbook, along with an enticing cashback offer, but again, liquidity is on the small side.
In the end, it all comes down to what you’re after – would you rather have loads of events to bet on with smaller liquidity, or decent liquidity but fewer betting options? The ball is in your court!
