Understanding Betting Exchanges

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WHAT IS A BETTING EXCHANGE ?

A Betting Exchange is very similar to a Normal Bookmaker with one Major Difference, instead of betting against a William Hill or Ladbrokes we are betting against other People. As the Title says we are Exchanging Bets with other People

As an Example you are down the Pub with John and you are about to toss a coin and you think that it will land on heads, John is on the Other side (Betting Exchange) and thinks it will land on Tails. You are Exchanging a Bet with John on the outcome

BETTING EXCHANGES IN DETAIL

The Main difference between a Bookmaker and a Betting Exchange is that we don't have to bet on something we think Will happen, we can bet on something NOT Happening

TWO SIDES TO MATCHED BETTING

The "Back" Bet - This will be placed with a Bookmaker and we are Betting on an Event to Happen - (We Believe Liverpool will beat Man Utd)

The "Lay" Bet - This will be placed at the Betting Exchange and we are betting on the Event NOT Happening - (We Believe Liverpool will NOT Win, So Draw or Lose to Man Utd)

WHICH EXCHANGE TO USE

One thing you should be aware of is that all Betting Exchanges will take a % of any bets that you make. There are currently 4 Main Betting Exchanges available, they are :

Betfair - Probably the best known of the Exchanges, Betfair is the busiest exchange and usually has the most money in the markets to make laying your bets a simple and quick process. Betfair currently have a Default Commission of 5%

Smarkets - One of the Newer Exchanges but without doubts one of the most Popular. Many Matched Bettors are using Smarkets and this is creating more money in the Markets. The Main selling point of Smarkets is the Default Commission is set at just 2%

Betdaq - Betdaq were the first Betting Exchange to throw down the Gauntlet to Betfair and although they were not able to surpass them, the fact they are still involved today means they are handy to have in your accounts. Default Commission is set at 2%

Matchbook - Another of the newer sites to come on the Market, It is a tough Market to make an impression in but Matchbook are doing just that and they offer lots of Accumulators to Lay to add to Matched Bettors Options. Default Commission is set at 2%