Exchange betting is a new branch of sports betting. As opposed to a bookmaker, it offers a greater variety of features and gambling options. The system is similar to using the stock exchange or bitcoin. The main difference in comparison to traditional bets is that it’s the punters who select the odds. For that reason, the law of supply and demand is rigorously applied. This wagering innovation standardizes bets and odds and allows new kinds of gamblers to emerge. Through trading, it is now possible to sell odds. Gamblers contact each other and negotiate among themselves.
How does exchange betting work ?
In terms of convenience and practicality, this style of betting works the same way as with a bookmaker. However, the biggest difference lies with the range of odds available. Depending on your assessments, you’re free to decide which strategies to adopt. Like with poker, some players may put extremely high stakes on the table . The most obvious difference in this form of gambling is the role that users play. In fact, the platform remains in the background in order to encourage negotiations between users. It’s actually the players themselves who assume the role of the bookmaker. The choice is simple; players either accept a bet or they make one of their own. In terms of protection, your bets are guaranteed to be safe. Cases of fraud rarely happen because of measures put in place by regulating authorities. If we were to compare the odds available from traditional wagers to those from betting exchanges, the odds would be in favour of the newcomer. With a good connection, it’s possible to watch games on sports streaming sites. In this case, the site charges a net percentage on your winnings. In the event of a win, they deduct a commission of about 5%. For those who register with a premium account, these fees will be even lower.
What kinds of wagers can be made in exchange betting?
When it comes to betting, there is a set starting position. Everybody has preferences and they wager depending on statistics collected. To begin with, the back bet, which basically means “for”, is the first possible option. In this case, it involves offering a bet while being confident that your team will win. The majority of punters places this kind of wager through popular sites. Taking a hypothetical meet-up between Barcelona and Roma, fans might choose to bet for the Catalans. Therefore, they seek to fix the odds at the rate of 2.55 or higher. An average punter may accept your challenge and the amount of the liability would be set at 100€. Another option for bettors is to go for the lay bet. This scenario involves taking the “against” position in a game. For example, a punter might try to predict the outcome of a match between France and Japan. By betting “against” France and by setting the odds at 1.50, the liability will be 50€. In case of a tie game or a win for Japan, the punter could win 98€.