What is a sports betting exchange?
Sports exchanges are an alternative way of playing where bettors go up against other players and not against a professional team of bookmakers. In the last few years, they became a must-have service of the most reputable bookmakers. On betting exchanges, every user has the opportunity to place either a “LAY” bet or “BACK” bet.
In other words, every individual player can take the role of bookmakers and decide how to play and what odds to set.
Most platforms that offer the black and lay, as this type of game is known, have also provided a quick user guide. However, you shouldn’t really have problems because you can find both types of bets on every betting website that has a sports exchange.
You’re probably wondering how all bookmakers with sports betting exchanges make a profit after betting is done between players. Well, the company that hosts the exchange takes a percentage of the players’ winnings whenever their suggestion turns out to be correct. The customers who lose don’t owe anything.
Advantages and disadvantages
- Pros:
- The sports exchange allows you to determine the conditions of your bet yourself.
- You can be flexible with your wagers because you can both LAY and BACK a particular event.
- You can be more successful because you’re playing against other players, not professional bookmakers and their teams.
- Cons:
- There isn’t always someone that can match your bet.
- You have to consider the terms that you offer carefully.
- Inexperienced players can often be tricked into backing losing bets.
Who are these bets appropriate for
The sports betting exchanges are for everyone, as long as users take the time to learn the basics. If you pay attention to the changes in the odds and their correlation with the betting exchange values, you can even put scalping strategies to the test as well.
Our team thinks that both experienced punters and recreational gamblers will find sports exchanges suitable for their needs. Remember to play responsibly at all times!