Betting with a bookmaker or on an exchange: back, lay and licences

A bookmaker needs a remote betting licence, RB. An exchange needs a remote betting intermediary licence, RBI, because it connects users who bet against each other. The GRAI glossary defines both terms.

The register snapshot of 6 November 2026 lists four RBI licences in the exchange names below. Two licensees also hold an RB licence, so one company can carry both kinds.

Bottom line: bookmakers and exchanges sit under different licence types, and some companies hold both.

The table sets the two kinds of site against the same questions. Rows that depend on operator pages are open until those pages are read.

Bottom line: the structural rows are definitions; the rate and limit rows are open.

To back is to bet that something will happen. To lay is to bet that it will not, and to take the other side of a backer's bet. With a bookmaker the customer backs; laying is a feature of exchanges.

Example, not real prices: you back a team at 3.00 with a €10.00 stake. If it wins, the return is €30.00, a profit of €20.00. If it loses, you lose €10.00. The implied probability of 3.00 is 33.33%.

The layer on an exchange takes the other side. At 3.00 the layer's liability is €20.00 for a €10.00 stake. If the team loses, the layer keeps €10.00; if it wins, the layer pays €20.00.

Exchanges describe commission in their rules; one form is a percentage of net winnings. At an example rate of 2%, a €20.00 profit would cost €0.40, leaving €19.60. The 2% is an illustration, not the rate of any exchange.

Bottom line: the exchange example uses invented numbers and is not a price from any site.

The structure differs: who takes your bet, which sides you can take and where the site earns. The register adds a licence-type difference.

Fees differ in kind. A bookmaker's price already contains its margin. An exchange shows a price set by users and then charges commission on the winnings, as its rules state.

Whether one is cheaper than the other depends on the market and the day. This page does not compare prices and does not rank the two kinds.

Bottom line: the two differ in structure and licence type, not in any verified price.

If you want a price you can see and accept, the bookmaker's form is the simpler one to read. If you want to offer a price or take the other side, only an exchange allows it.

Either way, read the rules on commission, limits and settlement before you deposit. Compare the licence type and the licensee on the register, not the brand name.

Neither kind is recommended here. The choice depends on what you want to do and what you can afford to lose.

Bottom line: your aim decides the form; the rules decide the cost.

Both kinds of site need a GRAI licence to serve customers in Ireland. Both must show the licence number on their online platforms, a duty we recheck against the Act before publication.

Both are 18+ only, and the same safer-gambling tools and help lines apply. Exchange users can lose money too.

Bottom line: licence, age limit and help are the same for both kinds.

Open the GRAI register and look for RBI in the licence number. Match the trading name with the name on the exchange site.

Then find the commission page on the exchange and read how commission is calculated. The Betfair case is covered on (page:operator/betfair/exchange-commission), and the licence types on (page:licence/remote-betting-licence-rb-rbi).

Bottom line: the licence number and the commission page are the two things to read.

18+ only. Gambling can be addictive – play responsibly. Free 24/7 support: Gambling Awareness Trust 1800 936 725 · gamblingcare.ie.

Tools for limits, breaks and self-exclusion are explained on (page:responsible-gambling).

Bottom line: this page does not place bets and does not ask you to.