What is a sports betting exchange?
It might be hard to understand the difference between a sports betting exchange and an online bookmaker. Basically they’re the same thing, you’re putting down money on a certain event to happen and if it does you win. Well the thing is that at a sports betting exchange you also have the option to “lay” a bet. When you lay a bet it means that you bet against a certain outcome.
I.E you’re looking at Real Madrid vs Barcelona and you think to yourself that Barcelona will not win this game, what you can do now is place a lay bet on Barcelona and if Real Madrid wins or the game ends in a draw you win your bet.
You can also “back” a bet at a sports betting exchange which basically is a normal sports bet, you back a team or player to win.
There is also one more fundamental difference between a sportsbook and a sports betting exchange which is that at an ordinary bookmaker you play versus the house but at a sports betting exchange you play versus other players. The exchange basically operates as a sports market just like the stock market. The lines for the bets fluctuates just as stock does, if a lot of players bet on a certain line then it will fall.
This opens up a world of new sports betting strategies and you can now trade away lines that you think are over priced. Lets say the odds for Paris Saint Germain vs Atletico Madrid are posted and you notice that the Lay bet on Atletico Madrid is 1.60 and you price it at 1.40 or below considering the fact that Atletico Madrid is one of the best defensive teams in the world. What you can do now is that you buy the line at 1.60 and then “sell” (counter bet) by backing the bet. You have now successfully cleared the book and made a profit from the bet, you just made a sure bet.
It’s also possible to offer your own odds for a selection and in doing so you can make so really good profit. However another player at the sports betting exchange must match your bet in order for you to win. Making you own odds is fundamental when bonus trading as you want to go +/- 0 with both of your bet, click here if you want to know more about bonus trading and surebetting.
Sports betting exchanges:
When it comes to sports betting exchanges there are a lot less to chose from and unfortunately there are currently no us friendly sports betting exchange ( however this might change should Donald Trump win the presidential election). The viking recommends that you start out with either Betfair or Matchbook when trying out sports trading or bonus trading for the first time.