Best Betting Exchange Sites
We have sourced some of the best betting exchange sites for you to sign up to. Take a look at some of their promotions that you can claim today upon registration. UK betting has massively improved since Betting Exchange was introduced back in 2001, if you haven’t experienced this form of betting, then why not start now?
What is Exchange Betting?
The first thing we need to clear up, is what “betting exchange” actually is and means. This form of betting revolutionised the betting market and made it even more entertaining for players to start/ continue betting. Before betting exchange was introduced, it was always the customer against the bookmaker. You were placing bets to beat the bookie, if you lost, the bookie got your betting stake, if you won, you would receive the pay out amount from the sportsbook.
at an exchange, you are not betting against the bookmaker, but instead, against other customers. There are so many advantages to betting at an exchange and this guide will help you determine whether this form of betting is for you, and if it is, you can claim one of the best betting exchange bonuses that we have sourced for you.
With online betting exchange sites, you can request for better odds and prices than what the bookies are offering. All you need is for another customer to come along and accept what you are asking for, which is known as lay betting, then your bet is matched by them.
Best Betting Exchange Sites
A lot of punters do not need many guesses into which sports betting sites are the best at offering a successful betting exchange platform. It is of course the creators of the system, Betfair. They were the first to introduce this form of betting to punters and make it successful. Once it had gained popularity, other bookmakers jumped onto the idea of it. As it is a betting strategy that puts customers betting against each other, it means that it needs customers using it, for there to be any money to be won. So, when it was first introduced, in order to get people using it, Betfair invested a considerable amount of funds into it to get it started, until it had a customer base large enough for it to run itself.
Other Betting Sites that offer a betting exchange include Ladbrokes, BetDaq and Matchbook. These are all great online betting platforms that follow the same principle as Betfair with their exchange betting. These bookmakers were extremely good at being tough competition for Betfair, however none have managed to overtake them in this area of betting. At one point, BetDaq were huge competition for Betfair, except the size of the 2 businesses and the financial difference played a huge part. Then Ladbrokes took BetDaq over, and as you can imagine, being one of the biggest bookmakers in the industry, they had the financial stability to improve BetDaq Exchange. They also merged it with the Ladbrokes betting exchange, creating a huge betting exchange platform. Matchbook is also a good online betting exchange platform, there is not much more that can be said, as a Betting Exchange has to be a certain type of way, therefore it can’t really be innovated, just the same strategy used on different bookies.
Lay Betting is not as popular for exchange betting as back betting, which is understandable. What punters do not realise is that lay betting is not as bad as it sounds, and if it done correctly, players could find themselves pocketing a lot more cash. Lay Betting is how bookmakers have always done it, which is why they make so much money. The advantage for a customer is that you only have to lay bet what you want.
If you are unsure of what lay betting is, it is offering odds to other players in order to sell a particular bet, rather than backing it. For example, if you wanted to lay bet against Manchester United, you may say to another customer that you want to offer them 5/1 odds of Manchester United to lose the next Manchester Derby (to not win it), whereas bookmakers are only offering odds of 4/1. Inevitably, the customer is playing the role of the bookmaker. You may then wonder how the bookmaker then gets involved, well once the bet has been determined, the bookie will take a percentage of commission.
If you are backing a selection, you are doing the opposite to lay betting. In a betting exchange, back betting is similar to if you were to bet against a traditional bookmaker. You are betting for something to happen, whereas in Lay Betting you are betting for something not to happen. Back betting can be useful as on some occasions, you can guarantee yourself a profit.
Choosing a Betting Exchange Site
With there being some competition between bookmakers in the exchange betting sector, you need to be able to decide which one is most appealing to you. There isn’t much decision making here at all as each betting exchange platform is very similar and has the same features.
There are a number of different markets that allow you to bet on within a betting exchange. Football and Horse Racing are 2 of the most popular sports for it. It is not just the sport to consider, also look at the markets within the sports. For football, you are going to be able to predict more than just the win/ lose scenario, you will also be able to predict more “random” outcomes, such as shots in a game, number of goals, etc. A particular online bookmaker may have better markets for different sports. For example, football betting sites are not all the same, some offer more markets than others.
You want to be able to find a betting exchange which has a huge customer base. This is where you are more likely to find the higher odds. The way in which you are going to be able to win more, is if you are going to be willing enough to bet with more. You want to be up against people that are willing to offer you a huge pay out if you are correct. So, with a 10/1 betting odds offer, there is a chance that one of you will get a pay-out of £100 off the other person. Betting Exchange can have a great effect on your sports bets, making you a lot more money than a traditional bookmaker, therefore it is a strategy that is a win for the bookies and a win for you if all goes well. Check out the top sites and see what odds you can get for placing your favourite bets, whether it be on a football match, on big competitions, such as champions league betting and more. Get involved yourself and start trading with fellow bettors!