Betting Exchange – Another Way to Bet
Betting exchange is also known as betting market, similar to stock and currency exchange. Not going into the details, we can describe betting exchange as a way to buy bet with a higher odds and selling with the lower.
Those who are acquainted to stock exchange and speculations can quickly understand what it is like to do betting exchange.
The biggest and the most popular exchange market is BetFair. This company is the best one for a long time. Actually, BetFair is more known for its betting exchange, not for traditional betting.
If you register using the link above, you can instantly start exchanging.
There are two main words that you will have to get accustomed to. These words are back and lay.
Backing basically means a simple a simple bet. Despite that, you can see many odds for the same event. This happens because there are more people laying with higher odds (they let you use higher odds, but, in case you lose, they get the money).
The interesting fact is that if odds are not satisfactory to you, you can offer odds yourself. You choose odds that fit you and wait whether someone lays that for you. Of course, if you wish impossible, your odds may be not matched by others.
Important: when you back, usually you have to pay commissions.
Laying means the absolute opposite to backing – you make a bet that a certain outcome will not happen. In other words, you are like a bookmaker. It is very unusual that in case of a win you get the same amount of money that you have laid.
However, be careful looking at the odds since high odds mean that you could lose a lot and win just a little in case of laying.
Mathematics and attention are a lot more needed in betting exchange than in the usual way of betting.
More on the subject…
Betting exchange usually requires you to be more invested in it, to follow all the news and truly understand your chosen sports.
If you have some betting experience, you know that odds change according to events such as transfers, injuries or very big bets. Therefore, if you get to be just like a bookmaker, you have to take all these things into an account.
Excluding these things, you also have to have a certain strategy and to technical analysis. Required data to perform it are available on the exchange’s website.
At first betting exchange may seem difficult and extra risky. At some point, it is like that. However, you only need some time to pick up and understand how the system works.
SmartBettingGuide recommends you start betting low amounts of money on those events that you truly understand. Time and experience will help you to better understand the system and become a successful betting exchange participant.
It is very likely that at some point in the future you will have to use some of the BetFair apps.
Among these apps there are bots that can automate your tasks. Just like in the stock exchange!