Let’s start with the basics: Matchbook is a betting exchange. A betting exchange is a marketplace where you act as the bookmaker. The Matchbook betting exchange is one of the 4 main exchanges operating in the UK. Find out more about the others in this post.
If you’re not already signed up to Matchbook, you can do by clicking the link below, it’ll only take a couple minutes of your time.
The Matchbook betting exchange
Matchbook started in 2004 and is licensed by the AGCC (Alderney Gambling Control Commission). Licensing is always important when it comes to bookmakers and betting exchanges as your money is involved.
The company was created by a group of professional sports bettors. They wanted to create a betting exchange that appealed to bettors of all experience levels. From those who only get involved in the National to long-term, professional bettors.
Matchbook offers odds for a variety of well-known sports, including football, rugby (league and union), and horse racing. The site also offers odds for things like Australian rules football, MMA and ice hockey.
The Matchbook betting exchange isn’t just for sports fans though. They also offer an online casino and run regular football pools. There’s something for everyone.
Unlike when you bet with a bookmaker, you’ll usually pay commission on bets placed at the betting exchange. Commission rates vary exchange to exchange. Betfair, for example, charges 5%, whilst Matchbook’s rate is one of the lowest available.
Betting exchanges: A quick overview
As I mentioned earlier, a betting exchange is an online marketplace. A bookmaker is too, so how are they different? Well, both offer many of the same betting opportunities but there are a few differences.
When you place a bet at a bookmaker, you’re betting against that company with the odds offered. Here’s a quick example: if you place a ‘back’ bet at Coral, they’ll receive your money if your bet loses. If you win, they’ll be the ones who pay you out of their own pocket.
However, when you bet using a betting exchange, you’re actually wagering against fellow punters. This is where the ‘marketplace’ comment comes in. The exchange connects you to bettors with opposing views to yours. As a result, betting exchange users are able to ‘lay’ against a result, which means that they’re playing the role of the bookie.
Find out more about ‘back’ and ‘lay’ betting in this post.
Using the Matchbook betting exchange to make money
Matched betting is a way to turn bookmaker free bets and offers into real money. Read our guide ‘What is Matched Betting?’ for more information. Matched betting works by ‘matching’ your bets – placing one a bookmaker and the other at a betting exchange. A Matchbook betting exchange account is ideal for matched betting, especially with the current commission rate offer. Download your free introduction today to find out more about matched betting.