Many of the people who bet online prefer doing it on the so-called Betting Exchanges. You can take a look at the best sports exchanges in the following ranking list:
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 bookie.
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. 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. The fact that they are unlike regular betting sites and that they offer more flexibility when it comes down to the odds makes these sports betting exchanges appealing to punters.
Are the bookmakers’ exchanges licensed?
Yes, of course, the sports betting exchanges are licensed by the gambling authorities. At the very least, they would want to have a licence 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 licence for both products.
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 them.
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. If you decide to try out a sports exchange, it’s a good idea to pay attention to the following:
Available betting markets
We advise you to look for sports betting exchanges that offer multiple betting options. This will allow you to diversify your prediction and not just bet on the most popular events and major markets.
Live betting opportunity
It’s good if the sports exchange offers the option to place live bets. It’s definitely worth choosing a website that supports in-play wagers.
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 the exchange by reading real players’ reviews.
Number of players
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.
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.
Will my sports betting exchange account be limited?
It’s unlikely for your account to be limited when you bet in sports betting exchange.
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 and requires a certain fee for doing so.