The peer-to-peer nature of betting exchanges is making their popularity soar every year. One betting exchange platform is popular among the majority of applicants, and it is called Betfair Exchange. Betfair Exchange, as a leading sports betting platform, boasts high liquidity and a good number of available markets.
However, Betfair is not available in some countries or jurisdictions due to licensing and other factors. The company also charges a high commission in certain cases, which is not suitable for newbie bettors. Thankfully, there are several betfair exchange alternative sites that you can explore. However, how are you going to find them? We will answer that question in this guide.
Liquidity
Depending on the odds of your bet, a betting exchange’s liquidity dictates whether your bet will find a match. This is calculated as the ratio of total funds that are available for trading in the market.
If an exchange has higher liquidity, it can offer better and more accurate odds. Liquidity is determined by the number of individuals betting on an exchange platform and the amount they wager.
Overall User Experience and Design
In today’s digital world, the importance of a well-defined user interface and user experience cannot be overemphasised in sports trading. It is important to choose an exchange whose website is easily navigable. Every menu, submenu, option, button, and toolbar has to be within reach. The colour scheme and overall layout should also be decent.
It is also crucial for your exchange of choice to have a mobile app. A mobile app allows you to play on the go.
Diversity of the Market
If you are considering any alternative to the betfair trading app, you should also pay attention to the range of markets. A betting exchange with more markets will offer more opportunities to trade and win massively. However, remember not to skip the learning curve. Stick to the sport or game that you are familiar with first.
From that point, build momentum and explore other markets or games. For example, a good exchange will offer you access to big bets in soccer, such as half-time/full-time, match result, correct score, and over 2.5. A good exchange will be helpful in helping you to wager on big events in football, tennis, basketball, and other sports.
Commission
The commission is the percentage of your profit that a betting exchange deducts after you win a bet. It is an exchange’s principal source of revenue. For the best betting exchanges, this commission ranges from 1-5% of your earnings.
It is optimal to select betfair alternative websites with lower commissions. Depending on the amount that you risk, some platforms might offer you a discount on the commission rate. Stay away from exchanges that charge a commission on losing bets.
Reliability
It is vital to explore betting exchange sites with licences from a reputable supervisory organisation. A license shows that the exchange has the legal authority to render its services in certain jurisdictions. If you choose unlicensed alternatives, there is a high chance that you might run into scams or be unable to recover your funds by tendering a dispute case.
Also, read online opinions from more experienced sports bettors and authority third-party review websites. These parties have probably tried out different exchanges and already have a clear image of the quality of the various platforms.
It is also advisable to go for brands that have been in operation for a long time. Such organisations will have a large customer base. Further, they will have less server downtime when the biggest and busiest tournaments overlap. These exchanges will have experienced IT staff capable of managing the traffic associated with big sports betting games.
Check for the Payment Methods
Check if the exchange offers your transaction method of choice. If they don’t have it, making deposits and withdrawals will be difficult. Due to legal or geographical restrictions, some betting exchanges might not offer payment methods available in your country or region.
The most popular and global payment methods are debit/credit cards from MasterCard and VISA. All you have to do is to input your card number and CVV. Then, you are ready for business. International bank transfers are also common.
Another great payment option is an e-wallet. E-wallets are known for their speed, efficiency, and security. Some of the popular options include:
- Apple Pay
- Google Pay
- Skrill
- PayPal
- Neteller
- Boku
- Trustly
Final thoughts
Betfair is a great exchange. However, a key to making a profit in sports betting is to take advantage of multiple platforms. Once you use all the betting tips above, you will definitely get an exchange as good as Betfair.