Exchange betting is an online marketplace where sports fans can trade wagers anonymously. The exchange platform merely acts as an intermediary because it’s the traders themselves who bet against each other on worldwide sporting events. Unlike traditional bets, exchange betting provides sports enthusiasts with even greater benefits.
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In exchange betting, punters choose between supporting a selection that they hope will win (back) or one that will lose (lay). Therefore, each bet involves two actions; one is a bet that supports the selection to win and the other is a bet that hopes that the same selection will lose. For example, if you want to place a wager of 10€ for a team to win with a score of 10 – 1, then someone else must bet the exact same amount but for the team to lose with odds of 1 in 10.
This kind of bet allows traders to be guaranteed to earn a profit even if the odds fall. If a bettor decides to support a horse by placing a bet with a bookmaker, then, effectively, they are also required to support the other horses in a race as well. Yet, on an Exchange Betting site, gamblers can bet that a selection will lose in order to make a small profit.
The benefits of exchange betting for punters
Trading wagers, also known as exchange betting, allows a person to wager for or against a selection during a sporting event. The greatest advantage of this form of wagering , therefore, is the chance to negotiate bets online. If you bet on a team before a game’s kick-off but then believe that you’ve made the wrong choice, you can still change your bet during the game. As a result, punters can cut their losses even after the game has already begun.
Another key benefit of this kind of online betting is that the odds are better than those offered by traditional bookmakers. Indeed, that’s really important when betting. It’s been shown that Exchange Betting offers more than 20% overall higher value than bookmakers do. That makes a huge difference, especially if you’re betting a lot of money. Furthermore, with this kind of bet, there’s no risk of the exchange site threatening to close your account when you start winning a lot of money.
Betfair is currently the platform that’s the most well known. It was first launched in 2000 and then in 2014, its sales reached 393 million pounds sterling, making it the largest betting exchange in the world. Currently, it includes 4 million punters. Its greatest strengths are its stability, its ease of use and its market share.
Smarkets , based in London, is another recognized betting site. Users really appreciate this trading platform’s competitive commission rates. In Ireland, Matchbook is also a popular platform. This is the best site for those who want to bet on American sporting events. Furthermore, it’s competition rate is also very significant.