Betting exchange or player to player betting is a relatively new thing in the gambling world, but it is, nevertheless, quickly catching on in the betting community. There are not too many betting exchanges available on the web at the moment, but those that exist are extremely popular and are generating bigger incomes than some of the most famous online bookmakers.
What makes this type of sports betting so popular is the fact that players are not up against bookmakers who are trying to take their money in every possible way, but they are rather playing against fellow bettors, with the bookmaker only acting as a mediator, albeit taking a small percentage (3%-5%) of every winning bet.
While some regular bookmakers will often limit your bets once you start making steady profits, this will never happen at a betting exchange seeing it’s in their best interest that you win as much money as possible, which makes it a perfect place for high rollers.
Let us now explain how these work. There are two types of bets at betting exchanges, ‘back’ and ‘lay’. ‘Back’ means betting on something happening and ‘lay’ means betting against something happening. For example, if you believe Bolton will beat Blackburn you should back Bolton, in which case you win if Bolton wins, or you can lay the same team and win money if they fail to win the game.
You should be aware that the market moves a lot quicker at a betting exchange, meaning the odds fluctuate almost every second, and this is one of the things you can take advantage of. One of the most successful betting systems ever is called trading and betting exchanges are just perfect for it.
This works just like a stock exchange, thus the name, and the main goal here is to back a team at a higher price and then lay the same team when the odds drop, so that you can win some money regardless of the outcome. This will save you a lot of time as instead of reading the betting news and studying teams’ statistics, you can just follow the odds and earn money regardless of who wins.
One of the reasons why betting exchanges are so popular is the fact that both bookmakers and bettors are winning money and you can be sure nobody will be looking to trick you and limit your winnings. The most popular betting venue of this kind is Betfair, followed by Betsson and BetDaq, and our kind advice would be to try them out at first hand and see what the fuss is all about.