What is a Betting Exchange?
A Betting Exchange allows bettors to bet against each other rather than against a bookmaker, while offering and requesting odds from other bettors across the market. Unlike with traditional bookmakers who go up against gamblers across markets, a Betting Exchange doesn’t have any risks. In fact, a Betting Exchange provides punters a platform to match bets against each other while taking a small commission on their winnings.
Betting Exchange sites have become an important aspect of global gambling, as it offers customers better odds, more transparency, and an experience that is fairer. The major difference with an exchange when compared to a bookmaker is the feature of ‘lay’ betting, which also allows punters to back a selection to lose rather than just win.
Bets placed on a Betting Exchange involve two bets which include one bet that backs the selection to win, and a second bet that backs the same selection to lose, thereby reducing the risk of loss and increasing your winning chances.
The added option to lay a bet makes it easier for bettors to guarantee returns if the odds are shortened after placing their bets. In other words, you can place a bet on a team to win a match while also placing an additional bet on the team that you believe will lose. This doubles your winnings chances and in the process, your profits.
What benefits does a Betting Exchange offer?
There are a number of benefits to using an exchange instead of betting with a bookmaker. Betting Exchanges offer more options for punters. Earlier, if a bookie refused to risk the odds or the stake that you wanted, they simply wouldn’t allow you to place your bet. However, with an exchange, customers only need to find other bettors who are willing to take the risk, or ‘lay’ your bet. Betting Exchange sites also allow customers to find various odds and markets.
Additionally, the value for bettors is generally better on a Betting Exchange. A disadvantage with bookmakers is that they don’t offer ‘true’ odds on a selection, but instead claim a fraction off the odds of an ongoing event to make money. In other words, bookmakers will look to make a profit from your bets.
With an exchange, the market price isn’t decided by one individual, but rather by numerous bets placed by others, which means there is more pressure on layers to offer a fairer price. If they don’t, they risk not getting their bets matched.
Moreover, a Betting Exchange also allows bettors more flexibility to trade their positions on markets than with traditional bookmakers.
Read More: What is Orbit Exchange Commission
Disadvantages of a Betting Exchange
One disadvantage is that fewer bonuses and rewards are offered unlike with standard online betting sites. Online betting sites generally offer first-time customers rewards such as a welcome bonus in the form of a free bet or lucrative deposit bonus.
Also, there are also lesser betting exchanges in a Betting Exchange when compared to online betting sites. However, that is slowly changing, as some renowned Betting Exchange sites have started increasing the number of exchanges through their respective websites.
Betting Exchange sites and platforms are also magnets for match-fixers. While match-fixing does take place frequently, the occurrence is lesser with traditional bookmaker sites.
Read More: What is the Games section on Orbit Exchange?
Types of bets in betting exchange
There are two kinds of players involved in bets made in a betting exchange.
The first is a player who places a ‘back’ bet. When a player places a ‘back’ bet through an exchange, they get to choose the outcome of a game and decide a stake. This is somewhat similar to placing bets with a traditional bookmaker.
The second type of player, meanwhile, is one who ‘lays’ a bet, which means betting against an outcome of a match or event. As mentioned earlier, players can not only back a team to emerge victorious but also place an additional bet against the opposition to lose, thereby increasing profits. Lay bets are usually matched with other players on the exchange.
Best sports betting exchanges
In order to have a seamless experience when betting online, it’s critical to search for the best sports betting exchanges. It’s crucial to read all of a website’s terms and conditions before registering and submitting your personal information. Inspect the commission and winnings percentages to make sure you are fine with them. Numerous trustworthy and best sports betting exchanges with active licences can be found in India.
Read More: Best sports betting exchanges
Q. What is a betting exchange?
Ans. In a betting exchange, players have the option to lay a bet with the possibility of leaving the market any time. Players compete against each other rather than a bookmaker and if they win, no one will be able to close their account.
Q. What are the best betting exchange strategies?
Ans. There are a number of Betting Exchange strategies that rely on certain odds to enter and exit the market in the event that they earn profit or minimise losses. Strategies could range from laying the tie, to betting the overs and dutching.
Q. Can I make money on a betting exchange?
Ans. Yes, of course. With a betting exchange, players can earn money provided the right management methods are followed and various rules and operating methods are understood.
Q. What is Cash Out?
Ans. Cash out is a mathematical calculation that divides the profit across all markets to obtain a certain amount of profit before the match ends. This is the difference between betting exchanges and traditional bookmakers.
Q. Which sites offer betting exchanges?
Ans. There are multiple sites that offer betting exchanges including Orbit Exchange, Bet Football, Betfair, Smarkets, Betflag, and Matchbook, besides others.