Online Betting Exchanges
There are many types of wagers or bets one can make online in today's world, and with those has come a large increase in the number of uk sports betting sites and also betting exchanges. Most people know what type of sports they wish to place wagers on, but often determining which sites are safe or reputable is another thing.
Often those new to this style of betting will not understand how it works or the terminology used and what it means. It is that in mind that we have put together this article to help with a detailed explanation about the most common types of bets you will find online. .
Exchange betting is becoming more and more popular but was actually the first type of betting that was used prior to bookies. With online betting, it has been modified to some extent to make it more usable and rewarding for all as it is easy to use and to understand.
What is Exchange Betting?
As mentioned, exchange is the same as the first form of betting used amongst gentlemen if you will. The difference is instead of just betting on the actual sport, people are joining together and betting against each other. To put this into an example, a game is played between team A and team B.
Some players think Team A would win, and others believe Team A will lose or draw. The betting exchange will provide odds, and these are adjusted as bets are placed. It sees the community of players themselves being responsible for the overall odds based on the action received.
How Exchange Betting Works
Members would have 2 basic options that would allow then to place a bet for a team to win (back bet) or for the team to lose (lay bet). This means you can either back a team to win or bet that a team would lose. When you consider it, no additional options are required to complete the bet.
Should a match be played between Team A and Team B, betters would add their wagers as normal. This would shift the odds as the bets come in, which could increase or decrease your stake. An excellent addition to exchange betting is that bets can be moved even after the game has started. However, the odds might be really close at this point and could cost you lower odds than what you had before the bet was placed.
The site will display the current odds for back and lay bets, this will indicate the preferred team. The option is then available to choose between the two options and wager based of their preferance. This is a good option for many as significant profits can be made as odds tend to be high in some games.
Why Choose Betfair Betting Exchange?
Because it's the best betting exchange in our opinion. And it's clear to see why. Betfair is one of the most popular betting sites to offer this type of betting but also take advantage of all other forms as well. The reason Betfair is a favorite is that they have a huge community that participates in the exchange bets.
The site only requires commission fees from those who have been making a profit, in which case the percentages remain low, and aspects such as how regularly you play could decrease the overall rate. You can read more about Betfair in full in our BetfairSports Betting Review.