Betting Exchange Offers: Commission-Free Periods and Rebates Compared
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The best betting exchange offers in the UK are built around commission rather than the usual bookmaker free bets, with 0% commission periods of up to 110 days and a rebate on early losses. A betting exchange does not set odds or take the other side of your bet. It matches you with another customer who thinks the opposite, and charges a small commission on what you win. That changes what a joining offer looks like. There are no “bet £10 get £30” deals among the three main offers below. Instead, exchanges waive their commission for a set period or hand back part of your early losses.
Three commission offers from two operators are currently available to new UK customers, and easyBet, an exchange app built with Matchbook, pays conventional free bets instead. offers.bet has compared and verified all of them, and our worked examples on how exchanges, commission and lay betting work should help you judge which offer is worth more to you.
Current Exchange Joining Offers
Matchbook Exchange
0% Commission for 110 Days
Promo Code: COMMFREE110
New Customers Only. Sign up using Bonus Code: COMMFREE110. Pay 0% commission on all sports bets for your first 110 days. Users making their first deposit by Skrill, Neteller or PaySafe card will not qualify for this promotion. T's and C's Apply. 18+ GambleAware.org
The longest commission-free run of any exchange offer: no commission on sports bets for 110 days from registration, capped at £1,000 in value.
Smarkets
0% Commission for 60 Days
Promo Code: COMMFREE
Use Smarkets code COMMFREE to trade with 0% commission for 60 days. New UK, IE & Malta users only. Min. £10/€10 first deposit only using Debit Card or Instant Banking. Full T&Cs apply. 18+ GambleAware.org
Smarkets’ 0% commission offer lasts 60 days from your first deposit, on an exchange that normally charges 2% on net market winnings.
Matchbook
20% Rebate on Exchange Losses up to £1,000
Promo Code: REBATE20
Sign up today with Bonus code 'REBATE20'. Qualified Users will receive a 20% rebate on Overall Qualifying Losses recorded 30 calendar days from Registration. These losses are exclusive to Matchbook Exchange markets only. Losses on Multiples, Bet Builders, Casino or other products do not count and are excluded. T's and C's Apply. 18+ GambleAware.org
The only exchange sign up offer that pays out when you lose: 20% of net exchange losses over your first 30 days back as free bets, up to £1,000.
Matchbook allows only one welcome offer per account, so COMMFREE110 and REBATE20 cannot both be claimed. Matchbook’s terms also state that claiming the rebate excludes you from future 0% commission promotions.
| Exchange | Offer | Promo Code | Length | Starts from | Standard commission afterwards |
|---|---|---|---|---|---|
| Matchbook Exchange | 0% commission | COMMFREE110 | 110 days | Registration | 2% on net winnings |
| Smarkets | 0% commission | COMMFREE | 60 days | First deposit | 2% on net market winnings |
| Matchbook | 20% of net exchange losses back | REBATE20 | 30 days | Registration | 2% on net winnings |
How a Betting Exchange Works
Smarkets describes a betting exchange as “a platform for bettors to trade on the outcome of certain events”. In practice, it is a marketplace. Some customers want to bet that something will happen; others want to bet that it won’t. The exchange lists the prices each side is willing to accept and matches bets where they meet.
You can take a price already on offer, or ask for your own and wait for someone to match it. Because no bookmaker is building a margin into the odds, prices on an exchange are often better than those at a traditional bookmaker, particularly in busy markets. Smarkets notes that liquidity, the amount of money waiting to be matched, is usually strongest on major football and horse racing events.
Backing and laying
Backing is the familiar kind of bet. In Matchbook’s words, “Backing a selection is to bet on something happening.” Back Arsenal at 3.0 with £10 and you win £20 if they win.
Laying is the reverse: betting that something will not happen. Smarkets puts it plainly: “When placing a lay bet you are betting for an outcome not to happen and playing the role of the bookmaker.” If you lay Arsenal at 3.0, you win if they draw or lose, and pay out if they win.
Liability on a lay bet
When you lay, the amount you risk is called your liability. Matchbook defines it as “the money you would need to pay out on a losing lay bet”, and gives this example: lay a selection for £10 at odds of 3.5 and your liability is £25 if the selection goes on to win.
The calculation is the backer’s stake multiplied by the odds minus one. At 3.5, that is £10 × 2.5 = £25. If the selection loses, you keep the backer’s £10. Liability rises quickly at long odds: laying £10 at 11.0 puts £100 at risk to win £10.
How Exchange Commission Works
Both exchanges on this page charge 2% as standard, and both charge it on net winnings rather than on every winning bet.
Smarkets: “At Smarkets we charge 2% commission on net market winnings for customers on the Standard Tier.” If you make a net loss on a market, you pay nothing. Smarkets also has a Pro tier at 1% and a Select ti