When it comes to sports betting, the vast majority of people represent the bookmaker’s office. There is hardly a person who has never heard of bookmakers. But there are quite a few of those who are just now hearing about the betting exchange for the first time, and among them there may be experienced players, behind whom she has one hundred bets. We will talk about what a betting exchange is, about its strengths and weaknesses, as well as how to place “pros” and “cons” bets in our article.
What is a betting exchange
In Russia, the first betting exchanges appeared back in 1999. They differ from traditional bookmakers as follows:
- On the betting exchange, you do not play against the bookmaker, but against other players;
- There is no margin on the betting exchange, you only pay a percentage of the winnings;
- On the exchange, you can close a bet before the end of the match;
- On average, the exchange rates are 15% higher.
Principle of operation
If in a bookmaker the odds for various outcomes are formed by analysts, and the players only agree with them or not, then the bettors themselves are engaged in this on the exchange. As for the appearance, everything is similar to a bookmaker’s office, but it is not always possible to place a bet instantly. The exchange operates on the principle of the market, where there is a buyer and a seller, and they need to agree on the factors that suit both.
To play on the betting exchange, you need to go through standard registration and verification. The most famous exchanges for 2020 are Betfair (the undisputed number one in the world), Betline, Betdaq and Matchbook. Please note that they are all blocked by Roskomnadzor, so if you want to play there, you will have to use a mirror or VPN.
How to bet “for” and “against” on the betting exchange
There are two types of bets on the betting exchange: “for” and “against”. Back bets are marked in blue, lay bets are marked in red. We will consider them on the example of the most popular exchange Betfair.
Back bets are more simple and beginners are recommended to start with them. They resemble a game against a bookmaker, where you choose the desired outcome, select a suitable odds, enter the amount and place a bet. Here, as in the bookmaker’s office, the bet will win if the outcome you bet on passes. You can also set the odds on the outcome yourself and offer it to other players. If someone is interested in it, a bet will be made between you at this odds.
With bets “against”, more questions usually arise, since in this case the player acts as a bookmaker, and his bet will win if the outcome on which the bet was made did not go through. For example, in a match between Sampdoria and Bologna, the player makes a bet that Sampdoria will not win. The maximum amount for this is 177 euros. The player’s liabilities amount is 251.34. It turns out that if Bologna draws or wins, the bettor will make a profit of 177 euros. Please note that 5% of this winnings must be given to the exchange as a commission.
If Sampdoria wins the match, they will have to part with the amount of obligations – 251 euros, by analogy, as the bookmaker does. As you can see, the amount of potential gain in this case is lower than the amount of the loss. The reason for this is the higher probability of the bet going through. It is important to calculate obligations in advance so that you do not get into an unpleasant situation later.
And although at first glance it may seem that it is difficult to play on the stock exchange, it is not. If you already have experience in betting, it will not take you much time to adapt to the nuances of the game on the stock exchange, but it is worth doing at least because of the benefits, since on average the odds in bookmakers are 15% lower, and this is significant over a distance index. But, so that you have a better idea of whether or not it is worth switching from a bookmaker to an exchange, we will consider its strengths and weaknesses.
Advantages and disadvantages of playing on the stock exchange
This type of bet has both positive and negative aspects, which it is better to learn about in advance.
- There is no margin, the commission is a fixed 5%;
- The odds are on average 15% higher than in the bookmaker;
- You can place several bets on one event;
- Fewer controversial situations;
- High maximums.
The main cons:
- It is difficult to find an opponent in unpopular markets;
- You need to be able to bargain;
- Not suitable for beginners, experience with the game is desirable.
As a conclusion, I would like to say that playing on the betting exchange has its pros and cons, but the number of positive aspects still outweighs. If you are a professional who sees sports betting as their main source of income, a betting exchange is perfect for you. If you are a beginner or an ordinary player who rarely bets and does not want to bother himself once again, you can safely play in a bookmaker’s office.