In theory, a Betting Exchange refers to a sports betting site that permits gamblers to make their own bets regardless of what the site may propose. In a way, this form of betting lets gamblers assume the role of bookmaker. There are two distinct betting categories: the Lay and the Back. Naturally, bookmakers are not involved in this kind of market. Those who which to play must connect to a Betting Exchange site in order to take advantage of other new forms of betting.
Betting Exchange sites : how do they work?
Since they are sports betting sites that permit bettors to wager on bets other than their own, Betting Exchange platforms also enable users to set their own odds. This means that they are not always provided by the bookmaker and that gamblers may adjust these values themselves. Also, they can sell their odds to other bettors or simply buy odds that are more attractive than those offered directly from the bookmaker.
Commonly referred to as Peer to Peer (P2P), this kind of bet is unique within the market. It merely serves as intermediary between punters and the site where they have registered to gamble online. Again it should be emphasized that all exchanges are conducted anonymously. Opting for this form of wagering provides bettors with access to odds that have specific benefits not found with traditional bookmakers. Furthermore, the full range of bets offered by some of the most popular bookmakers are still available on betting exchange sites.
The pros and cons of Betting Exchange sites
A betting exchange is a sports betting site that gives users the chance to try out new ways of placing online wagers with a bookmaker. In this respect, it offers greater advantages than an ordinary online betting site. That said, this site enables punters to sell and resell odds just like on the stock market. Punters are permitted to set their own odds which can sometimes be as much as 10 to 20 % higher than those offered by bookmakers. For winning bets, exchange betting sites only charge a commission of around 5% of your winnings, where as traditional bookmakers get an average margin of 10% per odds. Playing on betting exchange platforms requires exercising caution right from the outset because this type of gambling is more complex than it seems.
Like any kind of online gambling, Betting Exchange sites also have restrictions that could prove to be unfavourable. Firstly, punters risk losing a fortune if they try to set odds that are too high. Furthermore, users should be aware that most Betting Exchange sites are not translated into English. This means that these platforms are not always accessible to all audiences. Therefore, gamblers who cannot register on a platform are forced to create a VPN in order to play. Furthermore, it’s not possible bet until another gambler is ready to do so. Consequently, a large pool of other players is necessary in order to challenge your bet, playing the opposite. Other downsides to this form of wagering include the fact that there are no opportunities to place combination bets.