Betting exchanges are a different form of betting where you wager against other punters as opposed to betting against set odds with a sportsbook. On a betting exchange site, you are given a platform to bet on markets against other punters, with the odds determined by the quantity of customers as opposed to just priced by the specific bookmaker site.
Best Exchange Bookmakers in 2024:
5 / 5
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- Great welcome bonus for its new customers
- Excellent features like live streaming and cash-out
- Solid reputation both as a sportsbook and a betting exchange site
Significant terms: 18+. UK+IRE customers only. Certain deposit methods & bet types excluded. Min £/€5 first bet within 14 days of account reg at min odds 1/2 = 4 x £/€5 free bets. Free bets valid for 7 days on sports, stakes not returned, restrictions apply. T&Cs apply.
We are going to take a look at some of the best Irish exchange betting sites, including how we rank them, what every top site should have, and a bit more in detail about how they work, including their usual top offers.
There are lots of things to consider when choosing the best Irish exchange betting site, all of them equally as important to ensure you have the best, and safest experience that you can. The list below covers everything that we look at when ranking the best sites, and are the things that you should look out for when deciding which one to use.
When looking at the best exchange betting sites for Irish players, we look at the value for money that the users are getting, and deem this one of the most important things to consider when choosing an exchange betting site. The best sites will have the most valuable odds for its users, and it is crucial that you also do your own research to determine which sites have the best ones, such as by using an odds comparison site, or comparing different sites yourself.
Another thing that we look at when determining the best Irish exchange betting sites are the types of welcome offers available for new customers. The best betting sites will have an enticing welcome bonus on offer, just like traditional sportsbook sites. Typical welcome offers include risk-free bets of up to a certain value- something that basically means you could get refunded if your first wager was to lose.
Range of markets available
As with sportsbook sites, we rank the best Irish betting exchange sites by looking at the range of markets they have available for their customers to make use of when they play. The best betting exchange sites will have a large range of betting markets on offer, and not just the basic ones that you would expect to find like the outcome of events and matches, but more diverse ones that look into leagues, niche markets and other sports.
Commission is another important element that we look at when ranking the best Irish betting exchange sites, because unlike traditional sportsbook sites, betting exchange sites all take a commission from users for providing a platform that you can bet against another punter through. The top betting exchange sites will only charge a small amount of commission from the player, and will only take it if your bet was successful- so basically they take a cut of your winnings. Any site that takes a large amount of your winnings should be avoided, as they are likely to not be the best betting exchange site to use.
Licensing/safety and security
Of course, when we rank the top Irish betting exchange sites, we have to ensure that the sites are properly licensed and therefore legally operating. Any site that is not properly licensed should be avoided, and you will be putting yourself and your finances at risk if you use them. It also goes without saying that the best sites will have additional security measures in place to keep your personal and financial details safe- such as SSL encryption.
Variety of payment methods
The very best Irish bookmaker exchange sites will have a variety of payment methods available for users, and this is something that we look at when ranking the best ones because it ultimately makes the user experience better when they can use a payment method that they are comfortable with and want to use. Not only should the usual Visa and Mastercard options be available, but punters should also be able to use e-wallets and other methods such as PayPal. Each payment method has its own pros and cons when it comes to online betting, and a good site will cater to all of them.
Though you should always use a good and reputable bookmaker exchange site, and therefore should not run into any issues whilst you are playing with them, it is always good to know that the site has great customer support available should you need it. That’s why when we rank the best Irish bookmaker exchange sites we look at their customer support- including how helpful they are, how people can communicate with them and how quickly issues are resolved. This gives you peace of mind that you have the support of the site if you need anything sorting out.
Though it is imperative that a bookmaker exchange site is licensed and safe to use, it is also a sign of a good site that they have excellent and exciting features that enhance the user experience, and this is something that we look at when ranking the best Irish betting exchange sites. These features could be things like live streaming, so that punters can bet as the game or event unfolds, or their site being mobile friendly, or even better with a mobile app that means betting can take place from wherever and whenever the punter likes. Other features include how the website itself looks, it’s ease of navigation and also extras like loyalty programmes and niche sports that you might not have even heard of.
Best Exchange Betting Sites in Ireland for 2024:
Spreadex Exchange is a popular betting exchange website in Ireland, and comes with a good selection of betting markets, including the sports you would expect to find like football, tennis and horse racing, and also more unique ones like table tennis. They are a safe and secure site and very user friendly, even for those who are not familiar with betting exchange sites. The site is also favoured by its Irish users for its great promotions and deals that run for new customers as well as existing ones. Their welcome offer is a free bet one, and ongoing promotions can also see players winning free bets, and the site also has a refer and earn programme that offers a chance to win even more. Compared with other bookmaker exchange sites in Ireland, Spreadex has a limited number of payment methods- with only debit cards and cheques accepted forms of payment. Most other bookmaker exchange sites will also accept e-wallets such as Apple and Google Pay, but Spreadex does not and also comes with slightly longer withdrawal times compared with other sites.
Great selection of betting markets
Good welcome offer for new players, including additional promotions for existing ones too
Slow transaction times compared with other bookmaker sites
Limited number of payment and banking options
Ladbrokes is a popular bookmaker site that has a glowing reputation and years of experience offering betting for its users. Not only is it a traditional bookmaker site, but it also offers a betting exchange platform for Irish players to enjoy, called Ladbrokes Exchange. Much like its other site, Ladbrokes Exchange has a wealth of excellent promotional offers for its players, including free bets for new customers and ongoing promotions for existing customers, such as daily odds boosts and ACCA insurance. It also has some of the best features of Irish betting exchange sites, such as live streaming and cashout options, both of which enhance the experience and success rate of the player. One thing about Ladbrokes Exchange that is worth noting when comparing it with other sites is that it has a higher commission charge than most others, at 5%. Despite this, there are no fees charged when you withdraw and deposit money, and there are lots of payment methods available- from PayPal and debit cards to paysafe cards.
Great welcome bonus for its new customers
Excellent features like live streaming and cash-out
Solid reputation both as a sportsbook and a betting exchange site
Commission rate is higher than other betting exchange sites
Betdaq is a well-known and extremely popular betting exchange website, one of the biggest out there and available to Irish punters. They are licensed by the UK Gambling Commission, and are therefore reputable and safe to use, something that you should always look for when choosing a betting exchange site. They have a good range of betting markets available, with all major sporting events and games covered with some additional extras such as Aussie Rules and Virtuals. Though not the biggest selection compared with other betting exchange sites out there, the selection is broad and there is something for everyone. They also have a generous benefit for new customers, and one that is slightly different to other sites. Instead of offering free bets as a bonus, they have a cash back offer when you sign up and use their promotional code. In terms of payment options, you can use Visa and Mastercard, as well as Neteller, Skrill, PayPal, cheques and even bank transfer- so they have lots of options available.
Generous promotions available for customers
Commission-free on some markets
Lots of market options
The website design is not as good as other betting exchange sites
Not the biggest selection of sports markets available
Smarkets is another popular and well-known betting exchange site amongst Irish punters, and has a wide variety of betting markets for players, experienced and inexperienced to try their hand at. They have a great welcome offer for new customers of 0% fees for 60 days after they sign up, meaning the commission taken is 0% during that time. Despite this generous welcome offer, the site does not have any kind of promotional offers for existing players, including no loyalty programme that other sites offer for their customers. Something that does make Smarket stand out is its esports offering, which is broad and offers punters a chance to bet on something a bit different. Their customer support is available 24/7, another thing that makes it stand out from other sites and there are lots of different channels of communication that can be used to contact them. Smarkets is not only available on desktop site, but also has its own mobile app for punters to enjoy betting wherever and whenever they want to- and it is of the same high quality that the desktop site is so you can be assured that your betting exchange experience will be just as good.
Wide array of markets available
Easy to use and follow website, ideal for beginners
No bonus promotions or offers for existing customers
What is a Betting Exchange?
A betting exchange is an alternative way of betting that is different to sports betting where sportsbooks dictate the odds. With betting exchange sites, the punters determine their own odds, something that typically means they are better and more lucrative for the users.
In basic terms, during a betting exchange players bet against each other rather than against a bookmaker site. This means that odds are not determined by the bookmark site, but rather from the other punters. The site then takes a small commission from the winnings, and it is a risk free method of betting on sporting matches and other events, with usually better odds too.
Betting exchanges are pretty easy to understand and take part in once you understand them, and are a safe way to bet provided that you choose a site that is reputable and properly licensed. The best Irish betting exchange sites will be both of those things, as well as offer you everything you need out of a betting site.
Betting exchange sites work by creating a space where betters can make bet and ‘exchange’ on the potential outcomes of these bets. For these bets, a commission is charged by the site, but much of the process is in the hands of the punters. For instance, in traditional betting, the bookmaker site will handle the money transactions, but with betting exchange punters agree on the stakes and odds of their bets, not the bookie, and then exchange money between themselves.
This of course comes with huge advantages, the main one being that the odds are typically going to be far higher than when you bet using a traditional bookmaker site because you are not betting against them, but against other people instead.
How Do Betting Exchanges Work?
There are two types of betting within betting exchange- lay betting and back betting. Lay betting is where you bet against the outcome not happening, meaning that you have more opportunities to be successful with two different approaches to the bet. In back betting, however, you are backing the outcome happening.
This is typically how you can expect the process of placing a betting exchange to work:
If you are watching a match against two tennis players, and you think person A will win, but your friend thinks person B will win, you agree to a bet of £20. So if person A wins, friend A wins the £20, but if person A loses, friend B wins the £20 instead. This is a very basic betting exchange where you and your friend have decided on the odds, the price and are betting against each other on the outcome of the match, as opposed to placing the bet against a bookmaker site instead.
If you were placing the same bet with a bookmaker, for instance, you would not have the option available to back your choice to lose if it looks like that is going to be the more likely outcome.
There are a number of advantages to betting this way as opposed to using the traditional bookmaker:
Better odds- they are more competitive in betting exchanges and you are not limited to the odds that the bookmaker offers.
You can bet on both sides of the market- the ability to use back and lay bets means that you have more chances at being successful, whereas with a traditional bookmaker you can only back bet.
Guaranteed profit- you can book profits before a match or event has begun.
Offers Found at Betting Exchanges
This is a common offer found on most traditional Irish bookmaker sites as well as betting exchange sites. With this type of offer, the punter is rewarded free bets usually in exchange for signing up to a site for the first time, but often for existing players too for wagering a certain amount of money to get a free one in return that can then be used to place a following bet.
Welcome bonuses are a typical type of offer, found on most traditional bookmaker sites as well as on betting exchange sites too. With this type of offer, a promotional deal is given to new players when they sign up to the site- with traditional bookmaker sites this is often in the form of a free bet, and with betting exchange sites they are usually the same, but can also be price boosts and bonus funds. With these bonuses, you can only use them when you are new to the site, and after that there may be different promotions or offers as you become an existing player.
On some betting exchange sites, especially some of the top ones, there will be an offer running where the amount of commission taken from your winning bets is reduced. This is a common offer and in some cases the commission taken can even be as low as 0%.
FAQ’s on Betting Exchanges
How many betting exchanges are there?
There are lots of betting exchanges available for Irish players- too many to list, but this article has discussed just a few of the top ones.
What is exchange betting?
Exchange betting is a different way of taking part in betting online, and allows players to set their own odds and prices for bets as opposed to a bookmaker site doing that. Success is generally a lot more lucrative with exchange betting.
What are the advantages of exchange betting over other types of betting?
The winnings are typically bigger when you bet on a betting exchange site over a traditional bookmaker site with much higher odds that the players are more in control of. The concept of lay betting is also something that you don’t get with traditional betting, giving another type of way to win.
Which is the best exchange betting site?
This is mostly down to personal preference, as each site offers different things, but the very best Irish sites will be properly licensed, safe and secure, have a variety of markets on offer and low commission rates to be popular among players.
Is betting exchange mobile friendly?
Yes most of the top betting exchange sites will have either a mobile-friendly app, or be mobile browser friendly, meaning that players can bet wherever and whenever they want to. The apps and browser sites are fully compatible with iOS and Android phones, so no matter what you have or prefer to use, you can be assured that your betting exchange experience won’t be hindered.
How old do you have to be to take part in a betting exchange?
Legally you have to be aged 18 or over before you can create an account and begin betting with a betting exchange website. It is still gambling and therefore the age law is the same.
Is betting exchange legal in Ireland?
Yes, as long as you are using a betting exchange site that is properly licensed, it is completely legal to take part in betting exchanges as an Irish punter.
There are lots of great betting exchange bookmaker sites out there for Irish players to enjoy, if you are a complete beginner and betting exchange or more experienced. We have covered what all the best betting exchange bookmaker sites should have, including the safety and security measures that should be in place to keep you safe, but also the features that will make your betting exchange experience better and more lucrative. Betting exchanges are a different kind of betting, but a type that can be fun, successful and also improve your betting strategy as a player.