Betting Exchanges Betting exchanges have been around for over a decade, but there are still people who don’t understand the concept as it is quite different from regular betting at bookmakers which we have become accustomed to. In this article we will describe the differences between betting exchanges and what the bookmakers are offering, as well as focusing on the advantages of this fairly new concept of betting. What are Betting Exchanges? Betting exchanges are transactions made between gamblers, where the bookmaker is only there to make sure that the transaction occurs and for that it charges a small commission which can be anywhere from 2% to 5%. The most famous betting exchange provider is Betfair.