At the start of the century, sports betting exchanges emerged as competitors to bookmaker companies. Football, horse racing, and greyhound racing, the UK's most popular sports, took centre stage in trading and became leaders in exchange betting.
The top greyhound racing betting platforms in 2024, according to Thepunterspage.com, include Betfair, Matchbook, Smarkets, and Betdag.
Betfair, a British gambling company founded in 2000, operates the largest betting exchange. Despite growing competition, Betfair remains the industry's flagship with the highest liquidity. Its mobile application was the first in the Apple Store, pioneering the development of the mobile betting market.
Betdag, an exchange from an Irish gambling company founded in 2000, is the second-largest betting exchange platform in the UK. With over £75 million being bet on its platform weekly, Betdag attracts players worldwide. Although acquired by Ladbrokes in 2013, it was later sold back to its previous owners in November 2021.
Smarkets, established in 2008, has rapidly grown in the market, handling £3 billion worth of transactions. Known for offering the best odds, Smarkets does not charge commission on winning bets for the first 60 days.
Matchbook, founded in 2004, initially focused on North American clients and gained popularity in European countries after being acquired by a group of British investors in 2011. Known for competitive odds and no limits on maximum bets, Matchbook has become a prominent exchange.
All exchanges are legal and secure for players, registered by the UK Gambling Commission. They ensure the protection of financial transactions through data encryption protocols, safeguarding personal having emerged relatively recently, exchanges provide a slightly different approach to sports betting. They serve as an alternative to traditional bookmakers, allowing players to bet and engage not against the bookmaker but with each other. Every player essentially becomes a bookmaker on the exchange.
On the exchange, you can not only place a Back Bet, betting on a greyhound to win, but also a Lay Bet – a bet that the dog will lose. The bet is confirmed if there's a player on the exchange who bets against your choice.
The higher the number of participants on the exchange, the greater the number of bets and the increased liquidity of the platform. Exchanges gain popularity through various factors, including the thoughtful and creative design of platforms for desktop and mobile devices.
A notable aspect of playing on a betting exchange is the ability to make real-time decisions, adjust positions, and place bets during the game, responding promptly to changes in odds.
Low exchange commissions often play a decisive role for players. Here's how it works: While a bookmaker's profit is less predictable and includes an increased margin in the coefficient to offset risks, the exchange acts as a third party between players without risking its money. It profits in any case, allowing for favourable odds and the chance to win a substantial sum for successful bets.
To attract clients, exchanges frequently organize bonus promotions, featuring free bets as welcome bonuses, refunds for losses, and low commission percentages.
The potential for development and innovation in exchanges is vast, introducing new methods of data analysis and processing, with increasing use of artificial intelligence algorithms. With the advent of betting exchanges, the landscape of racing games is evolving to a new level.
Whether traditional bookmakers will lose their dominance, maintain their positions, or remain equal participants in the market is a matter of time and the choices made by players.