Choosing the best betting exchange is the most important choice that every novice trader faces. Many factors influence this choice which we will discuss below.
First of all, let us show you the most popular lay betting sites that you should take into consideration.
What do the ratings of the individual exchanges look like?
We will present them later, as we want to point out that you should not be guided solely by the ratings.
Before anything else, be sure to investigate the individual benefits that may significantly impact your choice.
How does betting exchange work?
Customers can wager on any outcome of an event, and bookmakers themselves will lay the bet, putting up their own money if the customer’s bet wins.
Betting exchanges, on the other hand, do not place bets themselves. Instead, they rely on other customers to back and lay bets against each other.
Sports betting exchanges charge a modest commission fee on each bet placed to earn money.
The amount of commission charged depends on the exchange’s rules and regulations. Usually, it varies from 2% to 5%, but it is possible to get 0% commission in some cases.
Why do we need sports betting exchanges?
Sports exchanges are essential when using different strategies to make money trading. The most popular strategy is, of course, matched betting, which yields a lot of profit if you prepare for it properly. Thanks to betting exchanges, we can easily place lay bets if we have previously placed a back bet at a traditional bookmaker.
Moreover, thanks to the markets on the exchange, we can find out how much money is going into a particular match. In case of huge interest and a lot of money in a lower league, we can deduce that:
- there has been a leak of information about the result (fixed match)
- one of the teams is significantly weakened (injuries)
- a popular tipster (and his subscribers) placed a high stake on that match
- and many other factors
Why should we use betting exchanges? The main reason we should use betting exchanges is the odds. In addition, on the exchange, we can also place our own – even higher – odds. Whether they will be accepted or not depends on other players.
Another advantage of using exchanges are limits, or rather the lack of them.
For example, a traditional bookmaker may limit your stakes to as little as a few pence, while on an exchange, you won’t encounter such problems.
This is a definite advantage, especially for those who make their money on sports trading.
Lay betting is another positive aspect. It involves betting that an event will not happen. While we only place back bets with traditional bookmakers, the operator implicitly places a lay bet against us giving us their money.
At the exchange, we can bet both back and lay, which is a great advantage. You cannot bet that a given result will not take place at a bookmaker, can you?