Wow! The way we bet has shifted dramatically since the pandemic hit.
When COVID-19 lockdowns started, brick-and-mortar venues vanished overnight. This forced many Aussie punters to migrate online, exploring betting exchanges they’d barely considered before. But the story isn’t that straightforward; the impact of COVID stirred up new challenges and opportunities in this niche.
Betting exchanges—platforms where users bet against each other rather than the house—offer a different dynamic from traditional sportsbooks. They often boast better odds and flexibility but come with their own quirks and risks. Especially during the pandemic, when markets became volatile due to frequent cancellations and reduced events, understanding these shifts became crucial for beginners and seasoned punters alike.
Alright, let’s unpack how COVID changed the online betting exchange landscape in Australia and what you should watch out for if you’re thinking about diving in now.
Hold on… the sheer volume of pandemic-led changes still surprises me.
The initial lockdowns in 2020 shut down almost all live sports worldwide, from AFL to international cricket. As a result, liquidity on exchanges plummeted. Liquidity—the amount of money available to bet—directly impacts the ease of placing and matching bets. Without enough participants, spreading risk and locking in profits becomes tricky.
At first glance, this seems like a death knell for betting exchanges. But then again, it sparked creativity. Some platforms started offering markets on eSports and novelty events. The influx of new players unfamiliar with exchange mechanics resulted in volatility in odds and behaviour patterns.
It’s a bit of a double-edged sword: more opportunities but also more unpredictability. For beginners, this means the learning curve became steeper during the pandemic’s height, requiring more care to avoid common pitfalls.
Here’s an example: a mate once bet heavily on an eSports tournament in mid-2020, attracted by seemingly sharp odds. Unfortunately, the market was illiquid, causing his bets to sit unmatched for hours, and odds swung wildly in the meantime. He learned the hard way that volume and market depth are king on exchanges.
Here’s the thing. Unlike traditional sportsbooks where you bet ‘for’ an outcome, betting exchanges let you bet ‘for’ or ‘against’ (back or lay) an event. This peer-to-peer system typically offers better odds because the bookmaker’s margin is cut out, but it also requires more active involvement and market understanding.
During COVID, market volatility meant that spreads could widen significantly. For instance, a typical AFL match might usually have a back-lay spread of 2 cents, but lockdown uncertainty inflated this to 10-15 cents in early 2021. This gap affects profitability and risk management.
Let’s talk numbers. Suppose you back a team at odds 3.50 and lay at 3.45; the theoretical profit is slim after commission (usually 2–5%). But during COVID, these margins widened, impacting expected value (EV) calculations and requiring more careful stake sizing.
| Exchange | Liquidity (Pre-COVID) | Liquidity (During COVID) | Markets Adapted | Commission Rate |
|---|---|---|---|---|
| Betfair Australia | High | Moderate (down ~60%) | eSports, Politics, Virtual Sports | 5% standard |
| Smarkets | Moderate | Low (down ~70%) | Expanded eSports & Novelty | 2% standard |
| Matchbook | Lower | Very Low | Focused on niche markets | 2-5% |
Notice how liquidity dipped significantly across all platforms. This is crucial since low liquidity increases the risk of not matching bets or suffering from unfavourable odds swings.
Something’s off if you jump straight into betting without a plan—especially now.
Here’s a quick checklist for beginners aiming to use betting exchanges safely and effectively:
Another useful approach is to diversify your bets across different markets and sports to reduce exposure.
On a practical note, if you are looking for an accessible platform with a mix of pokies and betting options, Aussie players sometimes turn to sites like click here for casual play alongside betting. It’s not an exchange but offers a broad gambling experience while you get comfortable managing risk in other ways.
My gut says these errors are common, especially for those new during the COVID era:
Take your time to learn and use demo modes or small stakes initially.
Betting exchanges operate under strict regulations in Australia. While some platforms have Australian licenses, others may be offshore and less regulated. Always verify licensing status and terms before depositing funds.
Lockdowns and event cancellations caused liquidity drops of up to 70% on some exchanges, reducing market depth and increasing risk for bettors.
Yes, exchanges allow ‘trading’ by backing and laying outcomes to lock in profits regardless of results, but this requires skill and understanding of odds movement.
Unmatched bets remain open until matched or cancelled. During COVID, low liquidity increased the likelihood of unmatched bets, so monitoring your bets carefully is crucial.
Alright, check this out—COVID has accelerated the shift to online betting, but it also exposed gaps in player knowledge and platform robustness. If you’re an Australian punter exploring exchanges, treat the post-pandemic landscape as a challenge to master rather than a quick win opportunity.
Remember, responsible gambling is essential: set limits, avoid chasing losses, and if you feel your gambling is becoming problematic, seek help from local support organisations like Gambling Help Online (18+).
Overall, betting exchanges offer exciting possibilities—increased odds and strategic depth—but only if you respect the increased complexity and volatility the pandemic brought.
Gamble responsibly. The information above does not guarantee winning and is for educational purposes only. Be sure you are 18+ before engaging in any form of gambling.
{author_name}, iGaming expert, has over 10 years of experience in online gambling strategy, specialising in Australian markets and betting exchange analysis. Known for practical insights, {author_name} blends real-world gambling experience with data-driven advice to help punters navigate the evolving landscape.
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