What makes wagering through a betting exchange better? There are several reasons, but one of the top reasons is that you can get the best value bets here. In betting exchanges, the odds are set by the punters themselves. This means that it can be as bad as it can get, or as good as you might want it to be.
To better understand, imagine a match between you and a friend for a Super League game between Arsenal and Liverpool. You come to a different idea of the outcome and you wager against each other with odds you set so yourselves. This is how betting exchanges work. The platform does not act the same way as a bookie. They only stand as the channel for making these exchanges in bets (for a minimal fee, of course).
What are betting exchanges?
Betting exchanges are platforms where punters exchange picks and bets amongst each other, thereby eliminating the need and function of a bookmaker.
How can I make money from betting exchanges?
Betting exchanges offer a wide range of wagers to making money, including but not limited to matched bets, arbitrage bets, and value bets.
How does matched betting work among betting exchanges?
Done right, matched betting is a virtually guaranteed way of making a profit with every bet.
Is arbitrage betting allowed among betting sites?
Although there is no clear and definitive rule from bookies that do not allow arbitrage betting, most sportsbooks ban or close an account once their systems flag it for potential arber activity.
Are sportsbook sites the same as betting exchanges?
A sportsbook is managed by a company and is profit-oriented, which influences how they present odds. Betting exchanges, on the other hand, are not restricted or run by anyone. The platforms only take minimal fees for a transaction but aside from that, punters practically run the marketplace.
Can you use Bitcoin or other cryptocurrencies on betting exchanges?
Certain platforms can support Bitcoin and other altcoin payments such as Litecoin, Ethereum, Dogecoin, and Ripple.
Betting exchanges offer a way of wagering for sports that do not involve a bookmaker. Once you master how the system works, it would then be easy to use it to your advantage and make a profit out of it.