Exchange Betting

Lay bets as well as back bets.

There is NO BOOKIE. All bets have been placed there by individuals who want to have a bet in the normal way (back), or "be the bookmaker" & offer odds to other punters (lay). Bets are matched between people with opposing views.

Differences between betting exchange vs. a bookmaker:
You can back or lay a bet
You can choose the odds you want to play at
You can bet whilst the game is in play
You only pay commission on winnings.

The most well known exchange is Betfair, where you can also get a Free £25 bet. An up and coming player is WBX who are currently offering a free £30+£120 bet.