Best Betting Exchange sites: Introduction to Betting Exchange December 2, 2022 – Posted in: Featured Articles, Uncategorized – Tags: Betting Exchange, Place Back Bet Orbit Exchange, Types of Betting
What is Betting Exchange?
The idea of placing bets through a bookmaker is common among gamblers. Most individuals look to place bets by signing up with online or offline bookmakers as they offer competitive odds across all major sports platforms besides a wide range of live betting.
A bookmaker acts as a medium for gamblers to place bets before paying off the bets at agreed-upon odds. Bookmakers determine the odds on offer along with the available limits. This way, they make money if you lose but hand a payout if you win.
Betting Exchange, meanwhile, pits gamblers against each other while giving them the option to ‘lay’ (post odds) or ‘back’ (bet on) the outcome of a particular event. Betting Exchange offers quite a few benefits when compared to placing bets with a bookmaker, but also some drawbacks in terms of the limited markets on offer.
Read More: Who are the Best Betting Exchange sites and How to pick the Best Site?
History of Betting Exchange
Betting Exchange is comparatively new when compared to bookmakers. Bookmakers have been operating for over 200 years. The first exchanges were introduced by Matchbook, flutter.com, and Betfair in the early 2000s.
Bet-Football and Orbit Exchange, powered by Betfair, are currently the leading exchanges in the betting market. Betfair is another leading company in the betting exchange market.
Betting Exchange is a marketplace for customers looking to bet on the outcome of a particular event. Exchanges offer nearly the same opportunities as a bookmaker, although there are certain differences such as having the option to ‘back’ (buy) or ‘lay’ (sell) the outcome. This is done while trading in real-time during the course of an event to cut losses or earn profits. One of the major differences is that bookmakers generate revenue by offering less efficient odds, while exchanges make money by charging a small commission on bets that have already been won.
Read More: What is an Orbit Exchange account?
Back and Lay bets
There are two kinds of players involved in bets made in an exchange – back and lay.
With a back bet, players choose an outcome of a game and decide a stake. This is more or less the same as placing bets with a traditional bookmaker.
In a lay bet, players bet against an outcome of a match or event. For instance, players can bet on Team A to win against Team B, but also place an additional bet against Team B to lose the match. Laying a bet is generally matched with other players on the exchange and can be quite profitable.
Best Betting Exchange sites
Betting exchange sites only charge a small commission for every win you earn, making them a top-choice when placing bets. Following are the best Betting Exchange sites:
| Bet-Football | – Competitive winnings
– No premium charges |
| Orbit Exchange | – Zero premium charges and convenience to use the marketplace with no problem
– Unique, affordable, and highly competitive |
| Indibet | – Low minimum deposit of ₹100
– Real-time cricket score updates for easier in-play betting |
| Smarkets | – Top Betfair alternative in India
– 2% Commission on winnings |
| Crickex | – Excellent cricket betting exchange site
– Pay with UPI + 24×7 Customer support |
| Dafabet | – Easy process flow to place back and lay bets
– Ready stats and livestreaming available |
| Matchbook | – Excellent market coverage
– Live chat support |
| Fun 88 | – Pay with Netbanking, UPI, GPay, Visa, Mastercard
– Excellent cricket betting exchange site for beginners |
| Pari Match | – Brand new betting exchange
– Brilliant website design and UX |
Betting Exchange advantage
A lot of punters place their bets through betting exchange sites online such as Bet-Football, Orbit Exchange, Indibet, and Betfair due to the competitive markets and odds offered. Online betting exchange sites offer reasonable odds as compared to standard betting websites.
This means that with longshot bets, the odds are better at exchanges and offer easy money due to the fair odds that attracts gamblers. A minimum commission will need to be paid to the booking exchange site if you win a bet.
Laying bets is another advantage offered in a betting exchange as punters can bet on an outcome that is most unlikely to occur. It offers gamblers the chance to act as bookies and increase their winnings from other wagers that are losing bets. Punters can earn more cash this way.
Read More: Orbit Exchange Commission
With betting exchange, you can also be assured of a guaranteed profit by booking profits even before an event has even commenced.
Also, booking exchanges do not penalise or ban their customers if they have been winning best continuously. Betting exchange sites don’t impose bans or disqualification on punters who are successfully winning as they also make money in the process.
Betting Exchange disadvantages
Unlike with bookmakers, there are fewer bonuses and rewards that are offered. Generally, online betting sites offer first-time customers rewards in the form of welcome bonuses such as one free bet or a deposit bonus.
Another disadvantage is that are lesser betting options with betting exchanges as compared to online betting sites. However, certain big betting exchanges have started increasing the number of markets through their websites.
The biggest disadvantage, however, is that a betting exchange is a magnet for match-fixers. This happens when a ‘layer’ offers profitable odds to attract gamblers before paying off the athlete(s) for a lesser amount than they will be able to make during a match, resulting in foul play and unjust losses.
Read More: Orbit Exchange Registration
FAQs
Q. What is betting exchange?
Ans. With a betting exchange, players can lay a bet through an online platform with the possibility of leaving the market at any point of time. Players compete against each other rather than against a bookmaker and if they win, no one will be able to close their account.
Q. What are the best betting exchange strategies?
Ans. There are various betting exchange strategies that are dependent on certain markets and odds to enter and exit the market in the event of earning profit or minimising losses. The strategies range from laying the tie, to bet the overs and dutching.
Q. Is it possible to make money on a betting exchange?
Ans. Absolutely. With a betting exchange, players can earn cash in the long-term provided the right money management methods are followed and the various rules and operating methods have been learnt.
Q. What is cash out?
Ans. Cash out comprises of a mathematical calculation that divides the profit on all markets in order to obtain a certain amount of profit before the match concludes. This is where the difference comes in between betting exchanges and traditional bookmakers.
Q. Which sites offer betting exchanges?
Ans. There are a number of sites that offer betting exchanges such as Betfair, Smarkets, Betflag, and Matchbook, along with many more.