Betting Exchanges Calculator
How To Use This Betting Exchange Calculator
Calculate your net profit, effective odds, and commission on any betting exchange. Supports back and lay bets with built-in presets for Betfair, Smarkets, BetDEX, Novig, Sporttrade, SX Bet, ProphetX, and Matchbook.
Choose your platform. The commission rate is set automatically based on the exchange.
Back = bet for an outcome. Lay = bet against an outcome (you act as the bookmaker).
Input the decimal odds from the exchange and your stake amount in dollars.
See net profit, effective odds, commission, ROI, and full payout breakdown.
How Betting Exchanges Work
Betting exchanges let you bet against other users instead of against a bookmaker. This peer-to-peer model means better odds — the exchange just takes a small commission on net winnings.
Unlike traditional sportsbooks, exchanges let you both back (bet for) and lay (bet against) any outcome. This opens up strategies like matched betting, arbitrage between exchanges and sportsbooks, and trading positions before an event settles.
You bet for an outcome, just like a normal sportsbook bet. If it wins, you receive (odds - 1) × stake as gross profit, minus commission.
You bet against an outcome, acting as the bookmaker. If the outcome doesn't happen, you keep the backer's stake (minus commission). If it happens, you pay the backer their winnings — your liability is (odds - 1) × stake.
Betfair Commission Calculator
Betfair is the world's largest betting exchange with the deepest liquidity across sports and racing. Betfair charges a standard 5% commission on net profit from winning bets. High-volume users can qualify for reduced rates through Betfair's discount program.
Source: Betfair Commission Charges
Smarkets Commission Calculator
Smarkets charges a 2% commission on net profit, making it one of the most competitive exchanges. With the same odds as Betfair, you keep significantly more of your winnings due to the lower commission rate.
Source: Smarkets Commission Rate
BetDEX Calculator
BetDEX is a decentralized betting exchange built on the Solana blockchain. It charges a 3% commission on net profit. As a decentralized platform, BetDEX offers transparent, on-chain settlement.
Source: BetDEX Commission
Novig Calculator
Novig is a peer-to-peer betting exchange that charges 0% commission on winning bets. With no commission, the displayed odds are your effective odds — what you see is what you get.
Source: Novig FAQ
Sporttrade Calculator
Sporttrade is a US-regulated sports trading exchange that charges 2% commission on net profit. Sporttrade uses an order-book model similar to financial exchanges, allowing you to trade in and out of positions.
Source: Sporttrade Advantage
SX Bet Calculator
SX Bet (formerly SX Network) is a decentralized sports betting exchange that charges 0% commission. With zero fees, SX Bet offers the best effective odds among crypto-based exchanges.
Source: SX Bet Fees
ProphetX Calculator
ProphetX charges a 1% payout adjustment on net winnings per market, positioning it among the lowest-commission exchanges. You only pay on actual profit, not on gross winnings.
Matchbook Commission Calculator
Matchbook charges 2% commission on net profit for customers in the UK, Ireland, Channel Islands, and Isle of Man, and 4% for the rest of the world. Commission is only charged on winning bets. Matchbook is known for competitive odds on US sports, particularly NFL, NBA, and MLB markets.
Source: Matchbook — Placing Bets
4casters Calculator
4casters is an invite-only betting exchange for professional bettors. Makers (those who post offers) pay 0% commission. 4casters has no limits and no restrictions on winning accounts, with over $250M matched in volume.
Source: About 4casters
Betting Exchange Commission Comparison
Commission rates vary significantly across exchanges. Lower commission means better effective odds and more profit on winning bets. Below shows the impact on a $100 back bet at 2.50 odds.
| Exchange | Commission | Commission Paid | Net Profit | Effective Odds |
|---|---|---|---|---|
| Novig | 0% | $0.00 | $150.00 | 2.500 |
| SX Bet | 0% | $0.00 | $150.00 | 2.500 |
| 4casters (maker) | 0% | $0.00 | $150.00 | 2.500 |
| ProphetX | 1% | $1.50 | $148.50 | 2.485 |
| Smarkets | 2% | $3.00 | $147.00 | 2.470 |
| Sporttrade | 2% | $3.00 | $147.00 | 2.470 |
| Matchbook (UK/IE) | 2% | $3.00 | $147.00 | 2.470 |
| BetDEX | 3% | $4.50 | $145.50 | 2.455 |
| Matchbook (ROW) | 4% | $6.00 | $144.00 | 2.440 |
| Betfair | 5% | $7.50 | $142.50 | 2.425 |
Back vs Lay Betting Explained
You bet that an outcome will happen.
You bet that an outcome will NOT happen.
Common Mistakes to Avoid
Exchange odds of 2.50 with 5% Betfair commission give effective odds of only 2.425. A sportsbook offering +150 (2.50) with no commission is actually better in this case. Always compare effective odds.
A $100 lay bet at 5.00 odds means $400 liability — four times your potential profit. At higher odds, the risk-reward ratio becomes very unfavorable. Always check your liability before placing a lay.
Commission ranges from 0% (Novig, SX Bet) to 5% (Betfair). On a $150 gross profit, that's the difference between keeping $150 and keeping $142.50. Switch exchanges to maximize profits.
Lower-commission exchanges may have less liquidity, meaning your bet might not be fully matched or you may get worse odds. Betfair has the most liquidity, while newer exchanges may have thinner markets.
Frequently Asked Questions
What is a betting exchange?
A betting exchange is a platform where bettors bet against each other rather than against a bookmaker. You can back (bet for) or lay (bet against) outcomes. The exchange takes a commission on net winnings. This peer-to-peer model typically results in better odds than traditional sportsbooks.
How is commission calculated on betting exchanges?
Commission is charged as a percentage of your net profit on winning bets. If you win $150 on Betfair (5% commission), you pay $7.50 and keep $142.50. If you lose, you pay no commission. The commission is automatically deducted by the exchange when your winning bet settles.
What is a lay bet and how does it work?
A lay bet is a bet against an outcome happening. You act as the bookmaker. If the outcome does not happen, you win the backer's stake minus commission. If the outcome happens, you pay the backer their winnings (your liability = stake × (odds - 1)). Lay bets are unique to exchanges.
How do I calculate effective odds after commission?
For back bets: effective odds = (stake + net profit) / stake. Net profit = gross profit - commission. For example, 2.50 odds with 5% commission: gross profit = $150, commission = $7.50, net profit = $142.50, effective odds = $242.50 / $100 = 2.425.
Which exchange has the lowest commission?
Novig, SX Bet, and 4casters (makers) charge 0% commission. ProphetX charges 1%. Smarkets, Sporttrade, and Matchbook (UK/IE) charge 2%. BetDEX charges 3%. Matchbook (rest of world) charges 4%. Betfair charges 5%. However, lower commission doesn't always mean the best deal — also consider liquidity, available markets, and actual odds offered.
Can I use exchange lay bets for matched betting?
Yes. Matched betting uses a back bet on a sportsbook (often with a free bet bonus) and a lay bet on an exchange to guarantee profit regardless of the outcome. This calculator helps you see the lay liability and net profit after commission so you can plan your matched betting strategy.
Are betting exchanges legal in the US?
Betting exchanges are legal in some US states. Sporttrade operates in regulated US markets. Novig is available in select states. Decentralized exchanges like BetDEX and SX Bet operate on blockchain. Betfair and Smarkets are primarily available in the UK, Europe, and Australia.
Why are exchange odds usually better than sportsbooks?
Sportsbooks build a margin (vig/juice) into every line, typically 3-10%. Exchanges only charge commission on winning bets, usually 0-5% of profit. This means the raw odds on exchanges are closer to true probabilities, and even after commission, you often get better value than a sportsbook.
How do I convert exchange odds to American odds?
Exchanges display decimal odds. To convert: if decimal ≥ 2.00, American = +(decimal - 1) × 100. If decimal < 2.00, American = -100 / (decimal - 1). For example, 2.50 decimal = +150 American. 1.50 decimal = -200 American. This calculator displays both formats based on your settings.
Pro Tip: Compare Across Exchanges Before Placing
The same event can have different odds on different exchanges, and commission rates vary from 0% to 5%. A 2.50 back bet on Betfair (5%) nets you $142.50 on a $100 stake, but the same bet on Smarkets (2%) nets $147.00, and on Novig (0%) you keep the full $150.00. That's $7.50 more profit just by choosing the right exchange. Use this calculator to compare effective odds across platforms before placing your bet.