Online sports betting exchanges have flourished in recent years. For those not familiar with online these businesses, they are best described as a matchmaker of sorts.
Punters can place their bets but instead of playing against the company, they are wagering head-to-head with other bettors (check here our head-to-head sports betting guide).
The customer proposes a bet and the website will match that bet to another customer with an opposing view. If a bet is for a large amount, then the site will match it up against several other smaller opposing bets until the money is equal on both sides. For example, a high roller wants to bet $10,000 on Team A in the Super Bowl. The betting exchange will find a pool of smaller bets on Team B that total $10,000.
After the outcome is determined, they distribute the prize money accordingly. The great thing for these businesses is that they can’t lose. And they won’t get angry either if you win these large amounts of money, as they will take a commission on the winnings. Betting exchanges are bookies that don’t limit players for winning. Let’s take a closer look at the concept.
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Backing and laying
Aside from money, there are two main components that are needed to create a bet. For a bet to materialize a “backer” is needed. Imagine that you are at your favorite sports bar about to watch a baseball game with your friend. You turn to him and say that you think that Team A will win. You then offer to bet him $10 on the outcome. You have become the “backer”.Before you start betting you can also read the article is baseball rigged?
The second component needed for a bet to happen is a “layer”, or someone to bet against the “backer”. Let’s say your friend accepts your bet. He has become the “layer” and the bet is set. Now it’s time to sit back and cheer for your team over a beer and some chicken wings.
How do betting exchanges work?
How do online betting exchanges make money?
Find top sports betting exchanges online
We’ve discovered how exchanges work and how you can use them when online gambling to make a profit. Now, let us introduce you to a few of the best betting exchange sites. These include a mix of both euro bookmakers and betting sites and the best national sports betting exchange options available for Tennis betting strategies. Our recommended exchange betting sites include:
Betfair is the undisputed leader in this constantly evolving industry. Betfair has led the way since merging with Flutter.com in 2000. BETDAQ is another major player in the industry as is the relatively new Smarkets. As with any other online enterprise, it’s a good idea to do your homework before you commit your money to an internet enterprise. Here at Gambling Judge, we have prepared a Betfair trading strategies guide to help you understand and get started with the Betfair exchange.
Novices are doing themselves a favor by starting out at the more established sites. They can rest assured in knowing that sports exchanges such as Matchbook and Betsson are highly rated, licensed and regulated. Not only that, internet betting exchanges that have more clients will naturally increase a punter’s chances of finding the right odds.
Top tips and awesome advice for sports exchange betting
- You should try and avoid placing bets at exchanges too early, as the odds will often be inaccurate. Similar, don’t wait until the last minute at bet exchange sites, as those odds will often be short.
- Consider using a bookmaker and an online bet exchange to back and lay bets. This, coupled with free bets, could see you end up in a no-lose scenario.
- Be sure you read the how to win at sports betting, tutorials and strategies (guides found on this page) to learn more about betting on sports like football
- Always use a betting calculator. This will help you understand liability and risk. There are plenty of these available for exchange bets online.
Frequently asked questions about top offshore gambling sites
Betting exchanges aren’t normally considered legal betting sites in the USA because they allow you to become the bookmaker. However, there are offshore options out there for you to use.
Betting exchanges are different, as they allow you to host bets and become the bookmaker, in contrast to simply using the request a bet method commonly found at sportsbooks. This is more challenging to learn, and so they aren’t as popular.
Not likely. However, their rise in popularity could see them on par with sportsbooks, even if they never surpass them.
Betting exchanges allow you to set your own odds and take advantage of prices not found at bookmakers. If you know what you’re doing, this is a market well worth exploring to take advantage of top odds and selections.
Join our leading betting exchanges today
Now that you know a bit about exchange betting on sports, it is time to head to the best betting exchange sites. Check out our best cash out betting sites before you decide to wager and engage with sports betting today, but wait, is gambling a sport? Did you ever ask yourself? You’ll find a great list of the best and most trusted exchanges right here.