Betting exchanges are a relatively new way to bet on sports and horse racing. They are different from traditional bookmakers in that they allow punters to bet against each other, rather than against the house. In this article, we will explain how betting exchanges work and why they have become so popular.
A betting exchange is an online platform that enables punters to bet against each other, rather than against the house. This type of betting has become increasingly popular in recent years, as it offers a number of advantages over traditional bookmaker bets.
For example, with a betting exchange you can:
-LAY (bet that an event will NOT happen) as well as back (bet that an event WILL happen);
-Close your bet at any time (bookmakers usually only allow you to do this close to the event);
-Get better odds (because there is no bookmaker margin).
In addition, betting exchanges charge commission on winning bets, rather than vig (the percentage charged by bookmakers). This means that you can still make a profit even if your bets don’t win every time.
When you place a bet on a betting exchange, you are essentially becoming the bookmaker. This means that you are offering odds to other punters who want to bet on the same event. If someone accepts your odds, then you have matched their bet.
The beauty of betting exchanges is that they are open 24/7 and there is always someone willing to take your bet. In fact, because there are so many people using betting exchanges, the odds are often better than those offered by traditional bookmakers.
Another advantage of betting exchanges is that they allow you to cash out at any time. So, if you have placed a bet on a horse race and the horse is in the lead with just a few fences to go, you can cash out and guarantee yourself a profit (albeit a small one). With traditional bookmakers, you would have to wait until the race is over before you could claim your winnings.
The final advantage of betting exchanges is that they charge commission on winning bets instead of vig (the percentage charged by bookmakers). This means that even if your bets don’t win every time, you can still make a profit in the long run.
Betting exchanges offer a number of advantages over traditional bookmakers, including better odds, the ability to LAY as well as back, and the option to cash out at any time. They also charge commission on winning bets instead of vig, which means that you can still make a profit even if your bets don’t win every time. If you’re looking for a new way to bet on sports or horse racing, then give betting exchanges a try!
