Betting Exchanges

Betting Exchanges allow punters to bet against each other and therefore remove the presence of the bookmaker. Because of the removal of the bookmaker, he is not taking any profit, and this is passed onto the user in the form of up to 20% better odds, and therefore greater winnings for the punter!

How do betting exchanges work?

At betting exchanges, customers set odds against eac other. This is how it is possible for them to offer better odds – because different people have a different opinion on what the outcome will be, and therefore set odds accordingly.

Another feature of betting exchanges is that they allow the punter to act as the bookmaker, because the punter has the ability to “lay” a selection. For example if you don’t think a particular horse in a race will win, you can lay it. If that horse loses then you win, if the horse wins you lose. The great thing about this is you also set the odds of the horse, so if the general price of the horse is 7/1, you can offer odds of 8/1 about it winning.

Betting exchanges offer punters the opportunity to hedge their bets. If you have backed a selection in an ante post tournament at a generous price e.g. 33/1, then as the tournament progresses, the price of the selection will shorten. When the price falls, you will be able to lay that selection to guarantee a profit.

Cash-out your bet in-play

Another great feature about betting exchanges is their in-play offering. Unlike bookmakers, you can cash-out your bet at any time during an event, because the odds are being updated every second. No bookmaker can offer such as up-to-date experience.

The best betting exchange is Betfair because they have the most liquidity, which means you are almost guaranteed to be able to get your bets matched. Betfair are currently are offering new users a free bet to new customers, just type in the reference “FTB125” when prompted for a promotional code on the registration pages. Click here for free £20 from Betfair