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Bet&betting; Exchange
BETTING EXCHANGE info and estimates | Gaming Skin selling
A Betting Exchange website is basically a place where you can anonymously change your sports bets with other gamblers worldwide. It’s a kind of “Bet stock exchange”.
There are two way to get a betting exchange
- You can make your bet, as usual, as you would with a bookmaker. For example, you may want to bet on a tennis player winning his match. This involves buying a bet (known as “back betting”). If the player loses, you lose your stake. If he or she wins, you win your stake multiplied by the odds.
- You may also bet against a particular result happening. This major innovation was introduced by betting exchanges. You can offer bets and odds to other punters and play the role of the bookmaker! For example, if you think that Fernando Alonso won’t win the next Formula 1 Grand Prix, you can sell (or “lay”) bets on Fernando Alonso. Here, you win in all circumstances other than Alonso winning the Grand Prix.
PROS AND CONS (for the player)
The main advantage of betting exchange is that it offers more attractive odds than bookmakers. Why is this? Because bookmakers take a margin on the bets they offer, and betting exchanges don’t. A betting exchange charges commission of around 5% of the net winnings for the winner of the bet. On average, this is 5% less than the bookmaker’s margin, which is approximately 10%.
Thanks to a betting exchange, you can also bet against a particular event happening.
The main drawback to betting exchanges is that you can only bet if other punters are willing to exchange a bet with you. This is not always the case, especially for sports which receive less media coverage. Another disadvantage is that the principle of betting and the placing of bets are more complicated than with a traditional bookmaker.
Another drawback to betting exchanges is that it is impossible to place combined bets.
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