Sports betting is a flourishing sector that attracts a great many followers from around the world. The lure of big profits encourages these enthusiasts to wager sums of money that may be increased tenfold, recouped or lost following the outcome of a game. The concept of betting exchange refers to online sports betting as a gambler. The basic principle is similar to that of the stock exchange. Many specialized sites offer meet-ups and set the odds to in order help punters to connect with each other. One platform that stands out from all the rest is Betfair.
How does choosing the odds work?
The main difference between a traditional sports betting site and a betting exchange platform becomes apparent when examining the odds. Usually, the bookmakers are the ones to set them as they see fit. In this case however, the rules of the game are different and it’s the bettors themselves who are responsible for this task. Negotiating a deal with another gambler clearly makes it easier to evaluate the chances of a victory. To put it simply, players may either request or offer a bet. The odds are then determined by the ratio of this exchange. In this kind of set-up, the site is compensated by charging a commission on winnings , which is around 5% on average. Overall, this new system works according to the law of supply and demand. For those who want to cover their bets, these sites offer very competitive gambling systems. With stop-loss, when you sense that your team is about to lose the game, you can cash out your wager. Therefore, punters can significantly minimize their losses. For live games, cashing out is especially advantageous for traders.
What wagering options are available in betting exchange?
To begin with, the first permissible option is what is referred to as the Back bet. This term simply means being “for” a particular team during a game. In other words, wagers are placed in favour of one team or the other. This method is used across all betting exchange platforms. To illustrate, let’s take the example of a back bet of 200 € on the match between PSG and Marseille. The bet is “for” PSG just because the club has better statistics. In this case, you might request the odds to be set at 2.50. Even before D-Day, you’ll already have an indication of the potential amount to be won or lost. The liability is then determined according to the odds or 100 €. By visiting sports streaming sites, punters can follow the game live. In lay mode, the concept is simply reversed. This scenario involves placing a bet against a team, which means accepting a wager issued by another gambler. Considering the fact that during a game, a bettor must be sure that opposing team will lose the match, this betting mode seems much less intuitive. In the long run, betting exchanges are largely more profitable for punters in search of a sustainable activity. Nevertheless, it will take time to learn all the tricks of the trade.