[{"data":1,"prerenderedAt":89},["ShallowReactive",2],{"\u002Fguides\u002Fwhat-is-a-betting-exchange":3},{"id":4,"title":5,"authors":6,"badge":6,"body":7,"category":77,"date":78,"description":79,"extension":80,"image":6,"meta":81,"navigation":82,"path":83,"seo":84,"stem":87,"vimeoAspect":6,"vimeoId":6,"__hash__":88},"pages\u002Fguides\u002F03.what-is-a-betting-exchange.md","What is a Betting Exchange?",null,{"type":8,"value":9,"toc":69},"minimark",[10,23,28,31,35,38,42,55,59],[11,12,13,14,18,19,22],"p",{},"A betting exchange is a platform where you bet against ",[15,16,17],"strong",{},"other people"," rather than against a bookmaker. Because there is no bookmaker setting the odds, you can do something you cannot do at a normal bookie: you can ",[15,20,21],{},"lay"," a bet, which means betting against an outcome.",[24,25,27],"h2",{"id":26},"how-it-is-different-from-a-bookmaker","How it is different from a bookmaker",[11,29,30],{},"At a bookmaker, you can only back an outcome, and the bookmaker takes the other side. On an exchange, other customers take the other side. You can be on either side of a bet: backing an outcome, or laying it for someone else to back.",[24,32,34],{"id":33},"commission","Commission",[11,36,37],{},"Exchanges do not build a margin into their odds the way bookmakers do. Instead they take a small commission on your net winnings in a market. That is how they make their money.",[24,39,41],{"id":40},"why-it-matters-for-matched-betting","Why it matters for matched betting",[11,43,44,45,49,50,54],{},"Matched betting needs you to ",[46,47,21],"a",{"href":48},"\u002Fguides\u002Fwhat-is-a-lay-bet"," a bet to cover the back bet you place at a bookmaker, and that is only possible on an exchange. In Australia the most widely used exchange is ",[46,51,53],{"href":52},"\u002Fguides\u002Fwhat-is-betfair","Betfair",".",[24,56,58],{"id":57},"next-steps","Next steps",[11,60,61,62,64,65,54],{},"Learn about ",[46,63,53],{"href":52},", or read the ",[46,66,68],{"href":67},"\u002Fguides\u002Fwhat-is-matched-betting","complete guide to matched betting",{"title":70,"searchDepth":71,"depth":71,"links":72},"",2,[73,74,75,76],{"id":26,"depth":71,"text":27},{"id":33,"depth":71,"text":34},{"id":40,"depth":71,"text":41},{"id":57,"depth":71,"text":58},"Basics","2026-06-18","A betting exchange lets you bet against other people instead of a bookmaker, and lets you lay bets. Here is how exchanges work and why they matter for matched betting.","md",{},true,"\u002Fguides\u002Fwhat-is-a-betting-exchange",{"title":85,"description":86},"What is a Betting Exchange? How Exchanges Work","A betting exchange lets you bet against other customers instead of a bookmaker, so you can lay bets as well as back them. Here is how they work.","guides\u002F03.what-is-a-betting-exchange","_b3ITNKc6KBOuDHWgWE0iUCQENoFBfnXdLUSJ_5_h5I",1781933160154]