How does a betting exchange work?
Like everything else, it is important to understand the process otherwise you may lose money unnecessarily. You might also make money by accident but that’s a risky way to make a bit of cash! A betting exchange doesn’t accept the bets themselves, they merely provide a forum to match punters on either side of a wager. In addition to paying less commission on winnings, bookmakers also build a profit margin into their odds. A betting exchange removes this profit margin, hence the odds tend to be better. To make a bet is as easy as 1, 2, 3. • Choose the event or game, • Choose the price, and • Choose to lay or back. If you don’t like the available prices then you can always enter the amount you wish and wait for it to be accepted or matched. This is known as an order and allow you to effectively create a wish list and people can accept your offers if they want. The backend software driving the betting exchange will store all the lays and backs and match them off when appropriate. The advan
