Betting exchanges are slightly newer to betting and are incredibly exciting, offering a new angle on betting across almost any sport.
If you’re interested in playing with a betting exchange, then check out all you need to know about what they are and how to choose them below…
What Is A Betting Exchange?
Betting exchanges are a type of betting site in which rather than betting against a bookmaker, you bet peer-to-peer.
That means that customers can both back and lay bets against each other, the latter being a big reason in why many people use them. That means every market within a betting exchange is made up of two wagers, one on the event to happen, and one bet against the outcome occurring.
For example, you may wish to place a football bet on Arsenal against Tottenham.
Let’s say you wanted to place a £10 bet on Tottenham to win the game at 2.76. That would be the back bet and win you £27.60 if you won. The lay bet is offered at 2.78, meaning you would win £27.80 from £10 if they didn’t win.
The Best Betting Exchange Sites
There are a number of betting exchange sites available and we’re welcoming more and more each and every year.
Some have been around for a number of years and developed to be a real mainstay in online sports betting.
Along the most popular today include:
- Betfair Exchange
- Ladbrokes Exchange
What To Look For In A Betting Exchange?
When choosing a betting exchange it’s important to look out for a number of different things.
Most commonly, that’s value. Betting exchanges can often provide better value in comparison to bookmakers as essentially punters themselves are offering the odds.
Before signing up get a general scope of how good the odds are and how wide-ranging the markets and sports are when it comes to playing odds.
The more established names always have a better range as well as a number of offers to enjoy, particularly Betfair.
Ultimately, the more players enjoying a betting exchange the more markets are going to be available, so it certainly makes sense to go with a major player if you’re looking for a more niche market.
Why Use A Betting Exchange?
Betting exchanges are incredibly useful to play with as they offer something different in comparison to a regular bookmaker. First and foremost that’s because you can place lay bets.
Not only is it a type of market you can only play in exchanges it’s also perfect for those looking to adopt a matched betting strategy.
They offer everything you’d find in a bookmaker but can have better value both before an event and within the in-play markets.