Many of the people who bet online prefer doing it on the so-called Betting Exchange. You can take a look at the best sports betting markets in the following ranking:
What are the sports betting exchanges?
The sports betting exchanges are platforms in which players have the opportunity to bet against each other. By doing this, they exclude the role of the bookmaker, and they themselves have the option to take on this role. In this case, the bookmaker’s winnings are coming from a small commission that’s taken from every winning bet. If your bet loses, you won’t pay anything. However, if it wins, a part of it will go for the bookmaker.
When it comes down to the sports exchanges, you can take the role of a bookmaker or an ordinary bettor. The platform gives you the opportunity to offer odds for a certain market - “BACK” or to meet a certain bet - “LAY”. In other words, you have the opportunity to make a bet “FOR” a given event to happen and a bet “AGAINST”, meaning that the event won’t happen.
Every user in the sports betting exchange has the opportunity to offer odds, meaning that he can take the role of a bookmaker. Thus, you can find a lot higher odds in these betting exchanges in comparison with the same markets within online bookmakers that have fixed odds. It’s important to note that all odds have to be matched by another player so that both bets can be active. That’s how the sports betting exchanges work in general, but you can read more about it on our website. The fact that they are different and offer more flexibility when it comes down to the odds makes these sports betting exchanges appealing to bettors.
Are the bookmakers’ exchanges licensed?
Yes, of course, the sports betting exchanges are licensed by the controlling authorities. At the very least, they would want to have a license so that they can appear as trustworthy to their players. In some cases, the sports betting exchanges are a part of the bookmaker’s portfolio with options. This means that they offer a betting exchange, as well as the standard odds market on the same website. In this scenario, the company needs just one license for both things.
There are exchanges on the internet that offer individual systems in which players can trade bets. They are also subject to licensing, and either local or international regulators issue these licenses.
How to choose a suitable betting exchange?
The sports betting exchanges are relatively unknown for a lot of online bettors. That’s because not all of them understand their purpose and how they work. However, the truth is that they are not that hard to learn. If you decide to try out a sports exchange, it’s a good idea to pay attention to several elements that you can use to determine whether it is worth it:
Available betting markets
We advise you to look for sports betting exchange that offers multiple betting options. This will allow you to diversify your prediction and not just bet on the most popular events and major marketplaces.
Live betting opportunity
It’s good if the sports exchange offers the option to make live bets. There are sports exchanges like these, and since live bets provide a lot of opportunities, it’s definitely worth choosing a website that has this section.
It’s important to pay attention to the odds trading platform and how reliable it is. You should try to learn what other people think about this platform and read an in-depth review of what it has to offer.
It’s crucial to find a betting exchange with a large number of players. This increases the chance of the odds you suggest to be matched by someone. Otherwise, if there are not that many players there, many of the bets will remain unmatched.
Another important factor when choosing sports betting exchange is the low commission. After all, this is a key factor when it comes down to your profit. If the platform is taking a significant fee from your bet, it’s probably not worth placing them there, so you should find a different website. The lower the commission rate, the bigger your winnings.
Choose an already established brand
We advise you to choose brands that have already made a name for themselves in the sports betting exchange business. You can find them in the list above.
Who determines the odds in the sports betting exchanges?
The players in the specific exchange are the ones that determine the odds for each event and market. The company only offers its platform in which all of this can happen.
Will my sports betting exchange account be limited?
It’s doubtful for your account to be limited when you bet in sports betting exchange. Of course, there are specific rules that you need to comply with when you register. If you break these rules, it’s normal for your account to receive certain restrictions, but apart from that, it’s unlikely that you will have problems.
Why do these platforms have fees on the winning in the exchange?
That’s due to the fact that the specific bookmaker gives you the platform where you can trade your odds. So, this is the only way in which the exchange can profit from its work.