A Brief Guide To Betting Exchanges
Betting exchanges in my opinion were a great and innovative introduction to the online betting world, providing a need for odds to be far more competitive than previous times, often with better odds available via the exchanges.
Thinking of betting exchanges the first name that comes to mind is Betfair, but we must not forget their smaller rival; Betdaq, WBX, Matchbook and now even Ladbrokes exchange – though that is powered by Betdaq as it is owned by the same company.
Operating differently to the traditional bookmaker, exchanges allow the bettor to either back or lay a selection. Effectively meaning that you can bet that an event either will or will not happen.
The exchanges make their money by charging a commission on winning bets. You are betting against another user, just like yourself, rather than the ‘house’.
What I consider to be the key success to the rapid growth of exchanges and in particular Betfair, was this ability to lay (bet against) an outcome, and the consequential option for somebody to bet against you.
Most popular sports are horse racing and football, though there is an almost endless list of sports available – Tennis, Golf, Politics, Big Brother winner, and even whether it will snow on Christmas Day.
The introduction of betting exchanges also saw the creation of ‘trading’.
Switched on exchange users can now capitalise on market movements thanks to the ability to back and lay on the same event, often guaranteeing a profit whatever the outcome.
It’s safe to say that betting exchanges are here to stay. With greater odds, wider range of markets, and the ability to trade your bets the exchanges are an incredibly popular method of betting.