What is Exchange Betting? (Sports Betting 101)
Many who follow sports betting online may have started to hear about a concept called a betting exchange. Increasing in popularity in recent years, how exactly does a betting exchange work?
Today, we’ll cover the basics of exchanging betting to give you a better idea of how you can potentially cash in on the new opportunity. Let’s dive in.
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What is Exchange Betting?
Unlike a sportsbook, Members of a betting exchange can wager against one another rather than a bookmaker. Customers can exchange odds with other bettors or request odds from them.
A betting exchange assumes zero risk in contrast to traditional bookmakers, who take on some risk while competing against players on the market. A betting exchange, on the other hand, offers a platform for its users to place bets against one another and keeps a modest commission on winnings.
Betting exchanges are a bigger and bigger element of the worldwide gambling industry, frequently providing customers with significantly better odds, more transparency, and an intuitively fairer experience. Unlike traditional sportsbooks, sports bettors are less likely to get banned if they are frequent winners, as you are taking money from other bettors and not the house.
How Does a Betting Exchange Work?
Essentially, every wager made on a betting exchange consists of two wagers: one on the pick to win and another on the same selection to lose.
Therefore, I would need someone else to wager $100 at -1000 to win $10 in order for me to place a $10 wager on a team to win at 10/1 and profit $100. With this methodically, bettors now have a lot easier way to ensure a return if the odds decrease after placing their bet, thanks to the opportunity to lay a bet.
On a betting exchange, you can support your selection to lose after the price has decreased in order to lock in a profit, unlike with a bookmaker. Simply put, a betting exchange gives the bettor more options and puts the power in the bettor’s hands, not having to deal with a “house†or “house advantage.â€
Lastly, at scale, a betting exchange gives bettors more options as you are able to bet on anything another person agrees to take the opposite side of. That, of course, is unlike a sportsbook, where you are at the mercy of what the bookmaker posts.
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Whether you’re new to sports betting or a betting pro, our How To Bet and Sports Betting Strategy and Advice pages are for you. You can get started with our 101 section — including How to Bet on Sports — or head to more advanced strategy — like 10 Tips to Become a Sharper Sports Bettor — to learn more.
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