Ladbrokes is one of the most dedicated betting sites that present punters with various gambling methods. In 2013, the brand introduced Ladbrokes exchange which instantly made the bookmaker stand out from the competition.
So what is Ladbrokes betting exchange, and how do you place a bet on Ladbrokes exchange? Well, keep reading to find out more.
Unfortunaly, Ladbrokes have decided to remove the Exchange tab from their platform. You can choose another brand that offers Matched betting. See a list below:
How Does Ladbrokes Exchange Work?
Ladbrokes betting exchange is a dedicated platform that allows you to place bets against another punter. With Ladbrokes exchange, you can choose to BACK or LAY a bet.
Placing a BACK bet means you are punting on a certain outcome to win. On the other hand, laying someone’s bet means you are predicting a particular outcome will not happen.Whether you are backing or laying a bet, you have the freedom to choose your odds. With such options, it is clear that Ladbrokes Exchange guarantees diversity and competitive odds.But how does Ladbrokes earn in the process? Ladbrokes ends up charging a commission on winning bets regardless of the outcome.
How to Place a Bet On Ladbrokes Exchange
Learning how to place a bet on Ladbrokes Exchange is fairly easy. But first, you need to decide whether you want to place a back bet or a lay bet. If you are new to the betting exchange, here is a breakdown of the entire procedure.
To place a back bet, load the site on your computer and follow these steps successively:
- Log in to your Ladbrokes exchange account.
- Navigate to your preferred sport.
- Choose your desired selection.
- Click the blue box on the option you want to back.
- Wager some cash.
- Enter your odds.
- Click submit to complete the process.
Once you fill in the information required, the system will calculate your payout in case of a win.
If you are wondering how to place a lay bet, worry not. The procedure is equally easy and will take only a few minutes of your time. Sign in to your Ladbrokes exchange account and continue with the following steps:
- Choose the betting market of your choice.
- Open a lay slip by clicking the pink option.
- Enter the backer’s bet.
- Confirm your potential earnings and the commission.
- Click ‘Submit‘ for the bet to be matched.
- When placing a lay bet, the operator will also give you information about your potential loss.
Overall, Ladbrokes exchange is one of the best ways to create your markets and benefit from competitive odds. However, when placing a back bet, it must be matched to be included on the market.
Ladbrokes exchange’s main aim is to give you the choice of placing bets most bookies lack. That is what makes it much more exciting to punters.
Is Ladbrokes exchange down?
Yes. Ladbrokes betting exchange is inactive. This means you can no longer place BACK and LAY bets at Ladbrokes.
Why is Ladbrokes exchange closed?
The bookmaker has decided not to offer BACK and LAY bets anymore.
What is a lay bet?
A lay bet is a wager placed on an event not to happen. That means you are betting against the backer.
What happens if I win a lay bet?
If you win a lay bet, you will pay the winnings or the liability. This will be calculated when placing a lay bet.
What is the difference between a back and a lay?
A back entails betting on an event happening, for instance, horse winning. On the other hand, a lay is betting on the event not happening.