On an exchange betting, you are betting against other players. Every customer can decide for themselves whether to make or lay bets. However, they can bet on positive or negative outcomes. The Betting Exchange is simply a tool that allows you to place bets. Using the technology that provides you with exchange betting, you can play the role of a traditional bookmaker. In addition, exchange betting accepts a nominal commission for each service transaction. This short guide will teach you everything you need to know about Betting Exchange.
Betting Exchange:
When exchange betting initially introduces around the turn of the century, most people believed it would revolutionize sports betting and lead to the demise of the bookmaker. It has certainly had a major impact on the sports betting market. In addition, it is very famous with batters, but it is not replacing betting with bookmakers. Exchange betting is also famous as peer-to-peer betting, which is a more accurate description of a Betting Exchange.
It is basically about betting against other players instead of a bookmaker. That’s why most people thought it would kill off traditional bookmaking. While, of course, it hasn’t done that and probably never will. It is just a form of betting that offer several benefits. As betting is the game of opinions, this tool allows you to set your odds on the outcomes in any available sporting event. So, when you are betting via Betting Exchange, you can get a much wider spectrum of prices that offer, with a knock-on effect of bigger profits when you win a bet. Using exchange betting, you can instantly “shop around” through any amount of their users before selecting the satisfactory price and value for your bet. Equally, if you opt to lay an outcome, you single-handedly dictate the price you are willing to offer to other exchange users.
Types of Betting Exchange:
There is no doubt that exchange betting offers almost the same opportunities to place bets different from a traditional bookmaker, but there are also some differences. In a Betting Exchange, you can buy the odds you think will generate the best outcome or buy the odds you expect to lose. The difference between exchange betting and the traditional bookmaker is the type of bet and the prices you can get off. Here are some of the most popular Betting Exchange examples.
Lay Betting:
When you place a bet for the outcome to not take place or play the role of the bookmaker, it is lay betting. For instance, if you bet that FC Barcelona will defeat Real Madrid, you win the bet only if Real Madrid wins or the match ends in a draw.
Back Betting:
When you place a bet for an outcome, it is back betting. For instance, if you bet on FC Barcelona winning a match against Real Madrid, you only win the bet if Barcelona beats real Madrid.
In-play Betting:
As the name indicates, this betting exchange allows bets to be made in real-time or while in-progress. These bets can happen when a match is in progress and usually occurs in the most famous sports that are broadcast worldwide. Conversely, non-in-play bets happen when they enter into the system soon after they place by customers.
Benefits of Betting Exchange:
There are usually three major benefits that exchange betting has over traditional sports betting. However, the most prominent is the simple fact that you can lay selections that are bet on them to lose. It is not something that you can do with a bookmaker. Additionally, it also opens up plenty of new opportunities for making money.
Everything Is A Two-Way Market:
It is undeniable that traditional sports books often offer only one side of the bet. When you want to bet on the Chiefs to win the Super Bowl at +700 at an exchange, there has to be someone on the other side to take -700. It will allow you to take “yes” or “no” of every bet type.
Lower Fees:
Using Betting Exchange, you are betting peer to peer, so there are no sports books to take their large cuts. However, you will pay some cents per dollar as the winning bettor rather than 10 cents. In addition to this, it will also make exchanges very customer friendly.
You can’t Be Limited or Banned:
While if you are a professional bettor who has been limited to every traditional sports book, you might have more luck with Betting Exchange. You need to find someone to take the other side of your action. Fortunately, the operator won’t limit you because it is not affected by your success. In addition, safeguards for manipulation are another worry for exchange betting.
Conclusion:
Betting Exchange is very different from traditional sports books. The most prominent difference is the odds format and how you can get more value. In addition, the odds show in decimal format, and the market works like the stock market. It will also allow you to get bigger odds and better value
