Betting Exchange

Exchanges host bettors trading against each other: back (bet it happens) meets lay (bet it doesn’t), prices set by the order book, the platform taking 2–5% commission on net winnings.

Why they matter beyond their size

Exchange prices minus commission approximate the sharpest public probabilities available — the reference “fair odds” for boost analysis, matched betting, and closing-line skill measurement. Liquidity concentrates in one dominant venue and thins fast on minor markets. Affiliate economics differ structurally: commission-share on trading volume rather than NGR on losses — an audience and deal type all their own.