A betting exchange is where bets placed and layed by individuals are matched against each other. This means if one person wants to back a horse at 12/1 for £5. A betting exchange is a marketplace for customers to bet on the outcome of discrete events. Betting exchanges offer the same opportunities to bet as a. Betfair Exchange Explained . Rajan bayalkoti hi iam new to interest in betting dnt mind can u plz send how to.