Bookmaker vs Betting Exchange? If you are new to the betting game or you are not familiar with betting exchanges, hopefully after reading our bookmaker Vs betting exchange review, you’ll have a better understanding of them.
Bookmaker Or Betting Exchange
When placing a bet with a bookmaker, essentially you are betting against the bookie. Whichever bookie you place the bet with set the odds accordingly, and if your bet happens to win, they pay you the winnings. Obviously if your selection loses, your initial stake goes to the bookmaker, which is the more popular way of placing bets on/offline.
You normally find that bets placed by punters are placed with an intention for the specific event to result in a win. These bets can be made up of singles or multiple bets, for example; doubles, trebles, 4, 5, 6, 7 fold accumulators. The list goes on.
The majority of bookmakers betting apps normally provide a welcome bonus as an incentive for registering with them too.
The bookmaker Vs betting exchange debate has been going on for years now and the truth is, they both have their pros and cons. At the end of the day it comes down to personal preference.
A couple of points you might want to keep in mind when making your decision on the bookie vs betting exchange debate. Firstly, what are the bookmakers betting odds like; are they competitive. Secondly, do they provide you with a generous welcome bonus?
Here are a couple of sportsbook betting apps that we recommend you to check out, if you are looking for great odds and provide you with fantastic welcome bonuses upon registration.
Bet365 Android App – Very competitive where odds are concerned, plus their new customer offer provides you with a 100% matched deposit bonus up to £200.
William Hill App – This bookmaker prides themselves on providing their customers with the best odds available on sports markets across the board. Their welcome bonus is pretty impressive too, when you register and deposit £10 and you’ll get £20 in free bets.
Betting Exchange Apps
When placing bets on an exchange, you are essentially placing bets against another person, as oppose to betting against a bookmaker.
In a betting exchange there’re two ways in which you can place a bet on the sports markets.
#1: To back your selection – When you back a selection(s), you are placing a bet for the outcome of it to result in that team or individual winning the event.
Back Bet Example: Manchester City are due to play Northampton Town mid week and you fancy them to win. So you back Manchester City to win, if the bet wins, you win the bet. It’s that simple.
#2: A lay bet – This type of bet is completely the opposite of a bet you have backed. When you place a lay bet, you are simply betting against your selection.
Lay Bet Example: Barcelona FC are due to play against Celtic FC, you think that there is more chance of hell freezing over than there is of Celtic beating Barcelona. So you decide to place a lay bet, on Celtic, this means that you have placed a bet on Celtic to lose. Then when Barcelona either win or draw, you win your bet.
With a betting exchange in theory, you get to choose the odds. The only catch is, there has to be someone who is betting on the opposite outcome.
How Betting Exchanges Make Their Money
You might be asking yourself, how do betting exchanges make money? Well, normally they charge a commission on winning bets; this is usually around the 5% mark. Another way they make their money is by not offering quite as generous welcome bonuses.
Much like the bookmaker Vs betting exchange debate, betting exchanges have been around since the year 2000, the first of them being the Betfair sportsbook exchange app.
List Of The Best Betting Exchange Sites – UK
- Betfair Exchange App
- Matchbook Exchange App
- Betdaq Exchange App
- Smarkets Betting Exchange
Betting Exchanges Or Bookmakers?
Honestly it is up to you, arguments for both, and if it works for you, why not use both. We recommend you test out both platforms and choose the one that suits your needs and requirements.
The ones we have mentioned are all licensed and regulated by the British Gambling Commission, so you can be sure that they are secure and safe.