There are different types of betting and people who are beginners in betting tend to mix them up. Even though offers for betting can be found all around us, such as websites that offer bonuses for betting with Matchbook, ads on news sites, commercials during sports events and others, people are still not informed enough about all the variations that exist when it comes to sports betting.
People usually have problems with defining the differences between regular bookmakers and exchange betting. They appear to be the same because they offer similar betting opportunities, however, there are some very important differences between the two. For that reason, in the following paragraphs, we will try to define the betting exchange and explain how it works.
WHAT IS A BETTING EXCHANGE?
Betting exchange includes betting on a specific outcome just like betting with bookmakers. However, unlike betting with a bookmaker, betting exchanges depend on other customers’ bet wins. What makes a betting exchange special is that you can buy or sell your outcome.
Also, another interesting thing is that betting odds change because they depend on the customers. People are drawn to it because it’s sometimes possible to make some good money. However, betting can be restricted, so sometimes even if you have a great bet, you do not actually win as a big amount of money as you wanted. Nevertheless, the odds are much better than with regular bookmakers’ betting odds.
HOW DOES THE BETTING EXCHANGE WORK?
As it was mentioned before, a betting exchange depends on customers a lot. Clients lay a bet on a certain outcome. Other clients back the bet up while others bet against the odds. In other words, the betting market is free and the punters are the ones who control the odds. Betting exchanges charge some money on every bet. However, when it comes to accumulators, a betting exchange becomes tricky. Clients cannot determine the outcomes in the accumulators on their own, and the odds can be restricted as we mentioned before.
CONTROVERSY RELATED TO BETTING EXCHANGE
Even though betting exchanges offer a great opportunity and much better odds, traditional bookmakers frown upon the fact that the clients set the odds. For instance, the punters can bet intentionally on the outcome that will not happen. This can influence betting a lot and can change the odds completely. However, betting exchanges monitor all suspicious activities and sanction them immediately. In this way, corruption and intentional setting of the odds is restricted.
People who are into sports betting have the option to choose between regular bookmakers and betting exchanges and many stick with regular bookmakers just because they are afraid of the unknown.
In short, if you prefer to bet against certain odds, opt for regular bookmakers. You can’t go wrong with the amount of information you have online. If you love flexible odds, higher odds, the adrenaline that goes up every time the odds change, and if you love the interaction with clients, opt for betting exchange. A betting exchange gives you more opportunities to bet as you wish.
We hope that we explained what betting exchange is and how it works and that if you used to be confused about the differences between the two, that you are not anymore. We hope that betting with betting exchange will now be much easier if you wish to try it.