101 Guide On Online Sports Betting Exchange With Its Advantages
Betting exchange is not a new concept in the gambling world. It has been around for more than 15 years and today becomes the choice of numbers of punters. It was first introduced before the century turn and nowadays so many gambling sites are offering this sports betting concept. If you are new to this betting terminology and don’t know what it is all about and how it works, then read this comprehensive guide. It includes everything you must know about the betting exchange and how you can avail the most out of available opportunities.
What Is Betting Exchange?
Also known as peer to peer betting, exchange betting refers to the process of betting against other individual players, instead of a bookmaker. It matches up punters, who want to bet on opposite sides of a certain wager. Once the wager gets agreed, they work as the middleman between an individual betting on a specific selection to lose (layer) or win (backer). Common online sports betting mistakes that punters do is they start betting without any knowledge. So, get well-versed with significant betting ways.
- Laying A Bet
In this type of bet, you’re acting like the bookmaker as you place a wager on something that would not happen. It is up to you to decide how much to lay and which odds to select. However, it may seem like a low reward and risky strategy. Still, punters prefer to lay a bet because they believe the price is very short.
- Backing A Bet
Backing a selection is just opposite of laying i.e. it refers to the process of placing a bet on things that will happen. Here, the betting exchange acts as the traditional bookmaker. You have to guess on a predicted result and then place a wager.
How Exchange Betting Can Benefit You?
Besides facilitating awesome gambling experience, exchange betting offers some more advantages over traditional sports betting. These are as follows –
Odds For Backing Selection – Excellent odds is one of the biggest advantages of betting exchange. They are believed to have much better odds for backing selections than online bookmakers. Even though they charge up to 5% commission on the winning wagers, but that does not matter much while receiving amazing wins. A small odd improvement can make the major difference to overall return in the long term.
Lay Selections – This is an excellent feature that provides you a wide range of possibilities for earning some extra money. It will help you to use specific strategies that provide you the ease to manage risks effectively and assure a profit regardless of the results. However, this option of lay selection is not available at bookmakers.
Where Should You Bet?
Betfair was the first gambling site in the betting market to launch its exchange. But, today you can find numerous good sports betting exchanges that have a wide variety of sports and market of various betting exchange. Choose the site that has the most important pool of sports liquidity available. Look for the excellent user interface and low commission rate before you sign up.