Online Betting Exchanges
What is a online betting exchange?
A Betting Exchange allows customers to bet against each other rather than with a normal bookmaker. This is also called person to person. This means that as well as being able to back an event, you can also act as a bookmaker and ‘lay’ odds. For example, if you thought the favourite was unlikely to win, you could lay odds and collect other people’s money if you are right.
Betfair.com was the first exchange to hit the scene in mid 2000. It's growth has been amazing, it matched £50m worth of bets per week!
How much do they cost?
The exchange matches the backers with the layers at live or pre-agreed prices. The cost of this service is between 2-5% of your winnings - nothing if you lose the bet. However, the odds on Betting Exchanges are often up to 20% better than traditional bookies so don’t be put off by the charge.
Benefits to you:
Better odds for your bet - and you can choose your odds
Ability to lay odds
Claim you Betfair Free Bet to try out online betting exchanges or compare free bets with the leading online bookmakers
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