Everything You Should Know About Betting Exchanges

One of the most significant advantages of a betting exchange is that there are no maximum bets and limits on winnings. Usually, bookmakers will set limits to restrict seasoned punters, but this is not the case in betting exchanges. Betting exchange includes an online platform where bettors can directly bet against each other and set odds by themselves. These exchanges provide bettors and punters with more control over their bets eliminating the roles performed by bookmakers. In other words, a betting exchange involves a revolutionary gambling concept allowing punters to connect with each other and make offers based on punters’ wisdom and crowds.

Betting exchange platforms allow the punter to maximize their profits since the general charges for net market profits are low.

How Does Betting Exchange Operate?

A betting exchange can seem daunting, especially if you are a gambler familiar with traditional bookmakers. However, appreciating the differences will allow you to clearly understand how they work. Besides, there are numerous opportunities to trade, and you can always take advantage of the elevated value either by locking in a profit before the results are even out or by getting better odds.

Typically, the betting exchange market permits gamblers to buy the odds they think will generate the best results. Also, depending on their gaming strategy, they can buy the odds that they are expected to lose. For instance, say there is a soccer match between Europe and Australia, and you expect Europe to win. Instead of betting on Europe to win, you could place  a bet for Australia to lose the soccer match. Therefore, this bet will be linked to another wager in the marketplace. Thus, it will result in a win-win situation for both parties.

Features of Betting Exchanges

  • Lay Betting

This involves a situation where the gambler places a bet for the result not to happen, thus playing the role of a bookmaker. For instance, say there is a match between Real Madrid and FC Barcelona. If a bettor places a bet that FC Barcelona cannot defeat Real Madrid, they will win the bet only if the match ends in a draw if Real Madrid wins.

  • Back Betting

Back betting involves a situation where a gambler places a bet for a certain outcome to occur. For instance, if there is a match between Real Madrid and FC Barcelona, they will bet that FC Barcelona will win the match over Real Madrid. Therefore, the bettor will only win if Barcelona beats Real.

  • In-Play Betting

Like the name suggests, this betting exchange enables bets to be made while in-running or in real-time. An in-play betting exchange will occur when an event or a match is in progress. Usually, it takes place with famous sports that are usually televised worldwide. On the other hand, non-in-play betting will take place soon after the customers enter their bets into the system.

Thanks to technology, crypto betting has also become popular in recent years. This has been attributed to its utilization of blockchain technology which offers numerous benefits like security, anonymity, speed, and reduced transaction cost. With this in mind, you might also want to learn more about what is a crypto-betting exchange. Worry no more, as BITEDGE has a perfect solution for you.