Sports Betting Exchange
Sports betting is extremely popular around the world and while traditionally most bets are placed via a sportsbook using fixed odds, there are other methods of betting. A sports betting exchange is another example in which, rather than betting against the betting company or bookmaker, bettors are able to bet against each other with the option of either backing or lay betting. To find out more about how to utilise a sports betting exchange to enhance your chances of a successful bet read on below for more information.
The most popular sports available at Betdaq Exchange are greyhound betting,horse racing betting and football betting. We also provide other popular markets for betting.
How Does A Betting Exchange Work?
As mentioned previously, a betting exchange or sports betting exchange enables punters to bet against each other rather than against a betting company or bookmaker. Bettors are given the choice of backing a particular outcome of a sporting event or match to happen, which is called a ‘back’ bet, while uniquely they can also opt to ‘lay’ the bet, meaning they are predicting that this outcome won’t happen. A key advantage of a betting exchange is that customers can often access better odds than via a sportsbook. This is because betting against fellow punters means the margin that fixed-odds bookmakers usually incorporate is no longer required, ensuring a more efficient marketplace as well the opportunity for better odds and bigger winnings.
Placing A Betting Exchange Bet
When placing a bet on a betting exchange or sports betting exchange, the punter needs to decide whether they want to ‘back’ or ‘lay’ their bet. By backing a bet, you are stating that the outcome of the bet will happen. For instance, if Liverpool were playing Manchester United in the Premier League and you backed Liverpool, you would be backing them to win and would therefore win the bet should they overcome their opponents. By laying a bet, you are stating that the outcome of the bet won’t happen. So if Liverpool were playing Manchester United and you laid Liverpool, you would be betting against them wining and would therefore win the bet should they fail to overcome their opponents by drawing or losing.
These days, in-play betting is a major feature when betting on fixed odds markets through a sportsbook, and that is also the case when it comes to betting through sports betting exchange sites. Rather than simply having to bet on an outcome of a sporting event or match ahead of its start, with a sports betting exchange you can also make a wager while the event or match is live or in play. This feature enables customers to analyse a match as it is happening before coming to a judgement and deciding whether to back or lay a team or an outcome, therefore potentially giving them a better chance of maximising their winnings or claiming a successful bet.
Using a sports betting exchange to bet takes place online rather than involving the punter going into a bookmakers to place their bet. This ensures a quick and efficient betting experience for the bettor, but this experience can be enhanced even further by utilising an online betting app provided by betting exchange sites. Many betting sites will provide customers with the opportunity to download their app, including BETDAQ. You can download the BETDAQ Exchange Betting iOS app from the App Store now. As well as a faster and more efficient service, by using a betting exchange uk app you will also be able to take advantage of simplified features and easier navigation, ensuring that you have an even better chance of securing a successful bet.