Online sports betting continues to grow in popularity, and with that popularity comes an increase in the types of betting that can be done. A great example of this is the rise of betting exchanges, which are a tweak on the concept of traditional sports betting, which can be more beneficial for bettors while being more fun to go along with the other benefits that using a betting exchange can provide. This guide will give a little more insight into what a betting exchange is, along with a breakdown of what the best betting exchange on the web is.
Betting exchanges are a twist on the traditional sports betting industry, in that they allow bettors to bet directly against each other, rather than against the sportsbook. How this works is that a user chooses a bet that they want to make, along with the odds that they want to set for that bet. If they can find someone within the exchange to take that bet against them, it’s on, and the winner is paid out at those odds, while the exchange takes a percentage of the winnings.
This is seen in many circles as better than the system employed by a tradition sportsbook, where bettors are forced to take less favorable odds to make up for the increased liability that the sportsbook incurs by taking so many wagers on either side. With that liability shifting from the books to the bettors, the odds of getting more favorable odds on a wager increase dramatically, which increases everyone’s chances to be profitable in the long-term.
Another benefit of the addition of betting exchanges into the betting ecosystem is the fact that the number of betting markets that you can find in an exchange is dramatically higher than you’d see at a traditional sportsbook. The reason for this is that the bettors are assuming the liability for each wager, which gives them the opportunity to come up with their own wagers, rather than sitting around and hoping that someone’s preferred sportsbook has odds on everything that bettors desire.
Betting exchanges also allow you to engage in something called lay betting, which is the act of wagering on a team or player to lose in a given event. Whereas you only bet on teams and players to win games at traditional sports betting outfits, betting exchanges allow their bettors to put their funds into those that they don’t trust, as long as someone out there wants to go head to head with that lay bet and thinks that team or player will come out victorious.
The key to having success while betting at betting exchanges is to recognize where there is value and to attack those spots as much as you can. For example, if you see users assigning odds that are slightly more favorable for you than you see at traditional sportsbooks, you need to recognize that and make those bets, as they will be more profitable in the long run than you would have been at the traditional sportsbooks.
To be honest, the best way to be successful at betting exchanges is to be researching odds constantly. Just like you need to constantly research statistics and other matchup trends for the sporting events themselves, betting exchange bettors would be remiss if they did not constantly look at the odds available for each sporting event at both regular sportsbooks as well as exchanges. This will allow you to find value consistently, and that will lead to profits.
As far as what the best betting exchange is, that award goes to Betfair. In many ways the original betting exchange, in that they were the first to really blow up and become a part of the mainstream sports betting culture. Betfair launched in 2000, and in the last 17 years has not only become one of the biggest names in sports betting, but have done so while offering a product that was truly innovative at the time it was launched.
Betfair has a massive catalog of betting markets, one that goes well beyond the sports betting markets of other sportsbooks. They’re currently offering odds on international cricket competitions, and even action on the ramifications on the recent general election in the UK. If they have odds on the fate of Theresa May, there’s a good chance that they will have odds for the sport and the match that you want to bet on.
There are specials available to Betfair bettors, another reason that they are the best betting exchange on the market. When a new customer places a bet of at least $10 at a minimum of $1.20 odds, they will receive a bonus of $30 in free bets. That’s a great way to get started with a betting exchange, as it gives you a few more chances to learn how to find value and make some successful wagers before you run out of bonus bets.
Betfair also offers live streaming in Australia, including live streaming of the NBA Playoffs in 2017. With all of the intrigue surrounding the third straight NBA Finals matchup between the Cleveland Cavaliers and Golden State Warriors, being able to bet on the NBA Finals and watch the NBA Finals all from one convenient location makes Betfair the NBA Finals hub for many people, rather than having to run from site to site to get their NBA Finals needs met.
Overall, Betfair was among the first to embrace the idea of a betting exchange, and that early adoption shows in the way that they have solidified their status as the best betting exchange. If you are willing to do the work and find value in the odds listed by other users on Betfair when compared to the odds at traditional sportsbooks, you have a chance to make a lot of money through this exchange. Just like any other sports betting endeavor, having a strong work ethic when using Betfair is the most important thing you can do to be profitable in the long run.