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Explaining Betting Exchanges

What Is A Betting Exchange?

When you open an account with a betting exchange such as betfair.com, it is not quite the same as opening an account with the usual online bookmakers that you come across, the types of bets as well as the nature of the betting is slightly different from the others.

PLACING A BET

Placing a bet on a betting exchange such as Betfair.com will technically be the same as placing a bet with any other online bookmaker though instead of the betting company giving you the odds on your bet, the odds received are from other punters like yourself, the main advantage to this is that the odds you’ll get will often be significantly better than the rest.

LAYING A BET

This is something that is unique to betting exchanges such as Betfair this is where you decide to bet on something not to happen, for example if you don’t think that Manchester United will win the English Premier League then you can ‘lay’ the bet. This simply means that you can bet on Manchester United NOT winning the Premiership.

“Ah!” I hear you say, “Isn’t that the same as just betting for another team to win the English Premier League?”

No it isn’t, because by laying the Manchester United bet, you don’t have to concern yourself with who actually wins the Premiership, as long as Manchester United don’t win, you’ve won your bet.

Betfair can be helpful when looking for arb bets, bets that guarantee a profit, find out more about these bets in betting strategies or take a look at this and other betfair techniques in betfair strategies

Offering Odds

All bets you take on betfair.com would have been offered to you by an individual, therefore you can also offer odds on betfair. This of course means that you become a bookmaker, but you’re not guaranteed any takers, especially if you offer unrealistic odds and iif you lose, how much, will be determined by your odds and how much was wagered.

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