What Is a Betting Exchange?

Betting Exchange is a market where you place bets but it is something different from normal betting. Here the customer bets on the outcome of different events but gamblers can bet directly against each other. In this type of betting, the bookies can make two types of bets. The great thing here is that such exchanges give punters and bettors more control over their bets, thus increasing their chances of winning. The concept of a betting exchange does not require bookmakers.

One of its strengths is that this betting exchange takes users into account. Additionally, bettors can set their odds against a traditional bookmaker. Here users can set their bets. This means that bettors have the freedom to place bets. In this, players can play on their odds or the odds set by someone else, it depends on their choice. Here punters have the choice of whether they want to bet on the results of discrete or specific events.

How does the Betting Exchange work?

Betting exchanges allow punters to bet against each other. Although they also benefit from this. Whenever an exchange takes place between bookies and someone wins, the platform takes a small share of the winnings in the form of a commission. This amount is not much. Usually, it is between 2-5 percent. It depends on the policy of that platform. The platform takes funding from this commission amount and provides better facilities for you.

But it is very important to make it clear here that even though this betting exchange charges commission, it is very different from the traditional bookmaker. A bookmaker is a person or an organization that bets on your behalf with your own money by providing you odds and then deals with your money after winning or losing. Whereas Betting Exchange is a market that gives you a platform where you can bet your own money. You can bet on it as an independent bookie.

How to Bet in a Betting exchange Online?

There are different platforms for betting exchanges and you can bet on these platforms only. For this, you must have an account on this platform. If you have an account, you can bet on your own by putting money in it. However, you may have to put in some effort to create your account in the betting exchange because for this you cannot create an account by yourself, rather you will need the help of a broker or agent. Though it is simple, you will get the details of the broker and agent in the platform itself as well as how you can contact them. We tell you in detail about how you can create your account in it.

To create an account, all you need is an active internet connection, a device such as a computer or a phone, some information that needs to be filled in by you, and some documents for KYC. That’s all, you’ll have a betting account ready. As soon as you click to register an account on any platform, you will get a form that you will have to fill out, and after that, you will get information about the brokers. A broker will assist you in opening your account and you will not have to worry about it. After this, you can bet comfortably. On the site you will find a variety of sports and matches and clicking on them will show you the odds made by the players. Now it is up to you whether you want to choose someone else’s odds or create your odds. In such a situation, by challenging a player, you can take advantage of direct betting.

What types of bets can be placed on the Betting Exchange?

Placing bets on the betting exchange is quite easy. Below we are telling you in detail about the bets placed in these.

Back bet

In this type of bet, you bet on a winning outcome. For example, suppose a match is going on between India and Pakistan. So if you are placing a back bet it means you are placing money on India winning. If India wins, you will also win and if India loses, you will also lose. Any punter places a bet on the outcome of the match on such a bet.

Lay bet

Lay betting is the exact opposite of back betting. This means that you bet on the loss of a player or team. Suppose you bet on a match between India and Pakistan that India will not lose. So if Pakistan loses or the match ends in a draw, you will win but if Pakistan wins, you will lose. In this, a bet is placed on what will not be the result.

In-play betting

Apart from back and lay betting, many platforms also give you the opportunity of in-play betting. In this type of betting, betting is done during the game itself. In-play betting is more commonly used in sports like cricket, tennis, and baseball, and in this, gamblers place their bets on one aspect of the game.

How can betting on the betting exchange be profitable?

Placing bets on a betting exchange can bring you several benefits. We will talk about them in detail below.

• The odds are quite reasonable in this betting so you can get a better bang for your buck. These are not hi-fi odds set by bookmakers but chosen by players just like you. Apart from this, you also have a chance to select your odds. In this case, you already get an upper hand in this game.
• Sometimes bookmakers ban the player’s account after winning so that they do not have to pay money out of their pocket, but there is no such fear in the betting exchange. You can withdraw your money whenever you want. For this, you just have to pay a small commission but your account will be safe.
• The betting exchange is dynamic so your chances of profit increase in it. Suppose Pakistan’s odds are high in a match between India and Pakistan but just before the match it is revealed that two of their main players are injured. In such a situation, the odds change even at the last moment, which can increase your chances of profit.
• Another feature of the betting exchange is that the commission rate here is very low. Many times it happens that bookmakers keep a large percentage of winnings with them, but the commission rate after winning in the betting exchange is fixed, so it is not much less and you get your winning money.
• This makes you professional in betting and also reduces your chances of losing. This is because sometimes the player in front is also of your level and in such a situation, a little homework or knowledge about the match makes you better than them and increases your chances of winning.

How to win in a betting exchange?

There are many tips and tricks that professional bettors use to win at the betting exchange. We tell you some such selected tips.

• Try to do some homework and learn about the teams and players before placing bets. In this way, you will be able to know which team has a better chance of winning.
• Always do research. If a team player is injured or a team has always had poor performances on that ground, then you will find it easier to guess the outcome of the match.
• If you are new then use lay betting as there is less risk in it. At the same time, do back betting from time to time, in which match you are sure about the result and increase your earnings.
• Create a strategy in advance and bet under the same strategy. Even if you lose, don’t panic and stick to your strategy. This will make you a better player.

• Don’t stop betting in fear after losing, but try again after some time. Every professional beater loses, but knowing how to win after that defeat enables him to earn more.