Content:
What is the betting exchange
Today we will talk about the betting exchange, its differences from the bookmaker office, what the pros and cons are, the popular betting exchanges.
The betting exchange is an alternative to bookmaker office way of betting on sports events and other types of bets. Betting exchange is just a platform for betting between players, in the betting office betting is between the player and the bookmaker. All the profits of the betting exchange comes from the winning of the players, BE takes the margin. Thus, the exchange does not risk its money.
What is the bet? You choose a certain event, offer your coefficient and the amount of the bet, that is, you act as a bookmaker. Also, you can agree with the conditions that other players offer, that is, you buy their bet. Based on this, you become a participant of the process. The betting exchange acts as an intermediary, providing a platform for the game, for its services it takes 5% of the winnings.
For making a bet, you must have an account in the betting exchange and an account in any electronic payment system.
There are a lot of different betting exchanges, such as Betfair, Betdaq, Betliner, Matchbook, Smarkets and so on. One of the most popular among them is Betfair.
Players can enter into two types of wagers "For" and "Against". Blue highlighted the highest "For", hence the red highlighted the highest "Against".
Let's talk about the "For". The player offers you the coefficient and the maximum amount of the bet on the outcome of the event opposite to which they are indicated. If you are satisfied with the proposed conditions, you make a bet with the specified coefficient, as well as in the bookmaker office. Your bet will only play in the event of the outcome to which you have placed. Example: you put the first team on the win in order to have profit so only the first team should win, otherwise you lose. The same with a draw or a victory of the second team.
But the big plus of exchanges is that you can offer the coefficient of the "For" bet on the outcome of the event which is interested to you. If there is another player who will be interested in your coefficient, you will make a bet.
Basically, there are questions with the bets "against".
Examples of betting
Let's look at the example of the match Scotland – Albania.
The "Against" bet (Scotland) means that you are ready to take a bet against the victory of Scotland with the maximum amount of $ 1,218. You will win a bet of $ 1218 to another player in case Albania wins or the teams play in a draw. The BE will take 5% of your winnings.
But in case of a victory for Scotland, you must pay the second player 1218 * 1.77 = $ 2155.86; since you have accepted a bet of $ 1218 with a coefficient of 1.77 - the same way a bookmaker gives you a win. Accordingly, when making a bet "Against", you must necessarily calculate your liability to the second player or, in other words, the amount of your possible win.
Conclusion and pros and cons
Everything can seem very confusing and difficult when you first come to this market of services, but having thoroughly understood its work, you realize what privileges is waiting for you!
Here we give some of the advantages of playing on the betting exchanges:
- The highest coefficients due to lack of margin, which in an ordinary bookmaker office is at least 10%
- You do not have maximums of amount, since you play against other players, the main thing is that your bet is supported by other players.
- You can make up the coefficients, which is an incomparable bonus for professional players. Among the shortcomings can be identified as follows:
- Good coefficients are only for popular events
- More difficult to use site
- Small delays in the formation of the line.