Betfair continues to dominate the betting exchange market in 2025, but that doesn’t necessarily make it the best option for every bettor. With high commissions and premium charges, many punters are looking elsewhere for better value. Fortunately, several strong alternatives now exist, including Matchbook, Smarkets, and Betdaq.
In this detailed comparison, we explore how each exchange stacks up against Betfair and why you might consider switching.
Article Contents
Why Look Beyond Betfair?
1. High Commission Structure
Betfair typically charges up to 5% commission on net winnings through its default “Rewards” plan — higher than most competitors. Users can opt into different commission plans via the My Betfair Rewards programme, which includes three tiers:
- Basic: 2% commission, but no access to promotions, offers, or certain account features.
- Rewards: 5% commission — the standard plan for most exchange users.
- Rewards+: 8% commission, with enhanced promotions and loyalty perks.
Although this flexibility can benefit experienced users, it adds complexity for casual punters and creates a risk of choosing a suboptimal plan.
2. Expert Fee (Formerly Premium Charges)
Instead of the previous Premium Charge, Betfair introduced the Expert Fee in 2024. This additional fee applies to users with significant profits over a rolling 52-week period:
- No Fee: for users with gross profits under £25,000.
- 20% Fee: for profits between £25,000 and £100,000.
- 40% Fee: for profits exceeding £100,000.
This charge is assessed weekly and is separate from your standard commission — meaning successful bettors can end up paying significantly more over time.
3. Better Promotional Value Elsewhere
Betfair rarely offers promotions for exchange users beyond short-lived welcome deals. In contrast, its competitors regularly provide generous commission-free offers.
Matchbook offers 0% commission for 110 days, Betdaq for 100 days, and Smarkets for 60 days — all far longer than anything Betfair currently runs. These extended promotions can significantly improve value for new users, especially those placing high volumes or matched bets.
4. Overcrowded & Efficient Markets
With Betfair’s unmatched scale comes another challenge: competition. Liquidity is high, but so is market efficiency — especially in football and horse racing. This makes it much harder for savvy punters to find mispriced odds or exploit inefficiencies.
Betdaq and Matchbook, while smaller, sometimes offer softer markets and more favourable pricing for opportunistic bettors.
5. Focus Split Between Exchange & Sportsbook
Betfair has increasingly prioritised its fixed-odds sportsbook, often promoting it more heavily than the exchange. This shift in focus has drawn criticism from exchange loyalists and contributes to a sense that Betfair no longer innovates at the pace of newer platforms.
Now let’s explore the top Betfair alternatives for 2025 — and what each one has to offer.
1. Matchbook
Matchbook is a sharp, trader-friendly betting exchange that has quietly built a strong reputation among serious bettors. While it doesn’t have the name recognition of Betfair, it excels in the areas that matter most to value-driven punters: low commission, a modern user experience, and solid liquidity in core sports markets.
If you’re looking for a platform that rewards efficiency without penalising success, Matchbook offers a compelling alternative.
- Commission: 2% on net winnings for UK and Ireland users (standard), 4% for others
- Licensing: UK Gambling Commission, Alderney Gambling Control Commission
- Ideal For: Advanced users, matched bettors, and high-frequency traders
Key Features:
- Matchbook Zero: 0% commission on select events (e.g., Premier League, major horse races)
- Modern UX: Sleek, responsive interface and mobile app
- Low Margins: Competitive odds across major sports
- API Access: Professional-grade API and automation support for trading bots
Pros:
- Some of the lowest commission rates in the industry
- Innovative promotions like commission-free betting
- Great for value hunters and experienced traders
Cons:
- Liquidity slightly behind Betfair in minor markets
- Limited in-play betting options compared to larger exchanges
Learn more: Matchbook Review
2. Smarkets
Smarkets positions itself as the tech-savvy, no-nonsense alternative to Betfair. With its sleek interface, transparent pricing model, and powerful backend, it appeals to both beginners and experienced traders looking for simplicity and control.
Rather than trying to mimic Betfair’s sprawling feature set, Smarkets focuses on doing the fundamentals really well — offering fair odds, fast execution, and a genuinely user-friendly experience.
- Commission: Flat 2% on net winnings; 0% available via Smarkets Referral, SBK, or special promotions
- Licensing: UK Gambling Commission, Malta Gaming Authority
- Ideal For: Casual users, those looking for low fees and simple navigation
Key Features:
- Clear pricing structure: Simple, no-nonsense 2% commission
- Smarkets Betting Exchange + SBK Sportsbook: Two options for different user types
- Fast platform: Built with proprietary tech for speed and reliability
- Bank-grade security: Funds held in ring-fenced accounts
Pros:
- User-friendly layout with a clean interface
- Transparent, flat-rate commission model
- Active efforts to attract new users with referral bonuses and promotions
Cons:
- Slightly smaller market range than Betfair
- Market liquidity can be hit-and-miss outside football and politics
Learn more: Smarkets Review
3. Betdaq
Betdaq is one of the longest-running betting exchanges, originally founded in 2000 and now operating once again as an independent company after being reacquired by its founder, Dermot Desmond, in 2021.
While it may not match Betfair in terms of brand recognition or liquidity across all markets, Betdaq remains a solid and cost-effective option — especially for horse racing enthusiasts.
- Commission: Typically 2% on net winnings (often reduced to 0% via promotional offers)
- Licensing: UK Gambling Commission
- Ideal For: Horse racing bettors, traders looking for promotions and low fees
Key Features:
- Strong horse racing liquidity, particularly UK and Irish events
- Frequent 0% commission promotions
- Integrated sportsbook allows hedging between exchange and fixed odds
- Stable platform with long-standing market presence
- API access available (upon request, with a one-time fee)
Pros:
- Excellent value for racing bettors during promotional periods
- Lower competition than Betfair, creating opportunities for value
- Simple, no-frills platform for traditional exchange users
Cons:
- User interface slightly dated
- Liquidity thinner in non-racing markets
Learn more: Betdaq Review
Comparison Table (2025)
| Feature | Betfair | Matchbook | Smarkets | Betdaq |
|---|---|---|---|---|
| Commission | Up to 5% | 2% (UK/Ireland) | 2% (flat) | 2% (or lower) |
| Premium Charges | Yes | No | No | No |
| Liquidity | Very High | High | High | Moderate |
| Market Range | Extensive | Focused | Moderate | Focused |
| User Experience | Advanced/Complex | Modern | Clean/Intuitive | Functional |
| Promotions | Limited | 0% markets | 0% referral bonus | Frequent offers |
| Live Streaming | Yes | No | Limited | Limited |
| API Access | Yes | Yes | Yes | Yes (on request) |
| Bot/Tool Support | Excellent | Good | Moderate | Limited |
Note: Betfair remains the strongest platform for users relying on third-party trading software and bots, thanks to its open API and broad integration support. While Matchbook and Smarkets also offer API access, the availability and flexibility for automated trading are more restricted — particularly on Smarkets, where new API access is currently limited.
Final Verdict: Which Exchange Should You Use?
Choosing the best betting exchange depends on your individual priorities.
- Liquidity and market depth: Betfair still leads—but comes at a cost.
- Lower commission and solid liquidity: Matchbook is an excellent choice.
- Simplified experience and clean user interface: Smarkets is ideal.
- Promotional perks and racing liquidity: Betdaq is well worth trying.
All three Betfair alternatives offer lower costs, cleaner interfaces, and unique incentives—making them genuinely attractive for savvy bettors in 2025.
FAQ
Is Betfair still worth using in 2025?
Yes, but only if you need the deepest liquidity or niche market coverage. For cost-conscious or casual users, the alternatives provide better value.
Which betting exchange has the lowest commission?
Matchbook and Betdaq often run 0% commission promotions, making them the lowest-cost options depending on current offers.
Can I use multiple exchanges?
Absolutely. Many serious bettors maintain accounts across all major exchanges to take advantage of different odds, promotions, and liquidity levels.
What’s the best exchange for horse racing?
Betfair and Betdaq both offer excellent racing markets, but Betdaq sometimes edges ahead in terms of promotions and lower fees.
Tip: Sign up to more than one exchange to compare odds and liquidity in real-time. This gives you a genuine edge when hunting for value bets.
Do I need to pay the Betfair Expert Fee?
Only if you’re highly profitable. Betfair applies an additional “Expert Fee” of 20–40% on profits if you’ve earned over £25,000 in the past 52 weeks. This is on top of standard commission and only affects a small percentage of users — but it can significantly reduce earnings for successful bettors.
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