As exchange betting becomes more popular, how does this type of sports betting work?

Xgtiger Casino will cover everything you need to know about exchange betting, including how it gives bettors more control over their bets, how it differs from standard betting, and the pros and cons.

What Is Exchange Betting?

Exchange betting is when you bet against other gamblers, rather than the sports book, at a betting exchange (more on that later).

This is a popular and unique betting method, different from traditional betting.
The odds are set by the bettors and are often more generous than what you’ll find the bookies offer.

How A Betting Exchange Works

A betting exchange is an online platform where exchange betting takes place.
As mentioned, players on a betting exchange site do not bet against a traditional bookmaker but instead compete against each other, setting their odds.

A betting exchange has two types of bets: the ‘back’ bettor and the ‘lay’ bettor.

Back Bet

‘Balik’ betting is very similar to gambling on a regular betting site, as you must bet on something that is certain to happen.

For example, a football (soccer) team won a match, or a horse won a race.

However, unlike the usual betting sites, the back bettor can set the odds.

The betting exchange site will find a lay bettor willing to bet against the back bettor’s set.

Whoever wins the bet wins money from the opposing player minus the cut for the bet exchange. This commission varies between betting exchange sites.

An example:

Lay Betting

A ‘lay’ bettor does the opposite of a back bettor, playing the role usually played by a sportsbook, betting that whatever the back bettor bets on will not happen.

So if a back bettor bets on a sports team to win, a lay bettor bets on that team to draw or lose.

Lay bettors can also create their odds. Usually, betting exchanges will have two tabs, one for payout and one for liability.
As you decide your stake, the betting exchange determines your liability. This is the amount you have to pay if your bet loses.

Also, it will be larger than the amount you bet.

The payout tells you how much you win if the bet is successful. The payout is always the stake multiplied by the odds.

An example:

Betting Exchanges vs. Bookmakers

Betting exchanges are different from regular bookmakers, but they both have a lot to offer in terms of bets. Check out some of the key differences below:

Bookmaker

• Betting Margin: Bookmakers make money by setting the odds so that punters come back on both sides of an event. Betting sites only take money lost while betting.
• Odds Balance: Bookmakers provide proportional odds to ensure bettors return both sides of an event.
• Bettor vs. the House: Bettors bet against the bookmaker.
• Offers: Bookmakers often provide bonuses such as free bets and increased odds to keep betting exciting.
• Cash-Out: Most bookmakers offer a cash-out option, which allows you to close bets early to get a smaller profit or reduce losses.

Change Betting

• Commission: When you win a betting exchange, the site will take a commission of your earnings. The commission tends to range from 2-8%.
• Best Odds: In a betting exchange, you set the odds. You will find more significant profit opportunities than buying odds from bookmakers.
• Back & Lay Betting: Bettors bet against each other, one specifically picking an outcome and someone going against it.
• No Offers: Promotions are rare as a betting exchange is an intermediary.
• No Cash-Out: Since betting exchanges act as an intermediary, there are no cash-outs for users, and players must keep their bet until the end.

Advantages And Disadvantages Of Using Betting Exchanges

While the unique nature of betting exchanges offers many advantages, you should consider some disadvantages.

Pros

 Pinakamahusay sa Market Odds: Because you are betting against other punters, the betting exchange does not risk losing money. This means that you will find a higher probability.

 Lay Bets: Bettors can bet on an outcome that doesn’t happen instead of betting on something specific.

Cons

 Matching Bets: Finding a match for your bet can be difficult at a betting exchange, especially if you are betting on a niche sport, such as esports or darts.

 Walang Alok: Betting exchanges do not usually provide bonuses for loyal players.

Conclusion

Are you an avid gaming fan and wondering how to bet on online casino games? At Xgtiger Casino, you will get the latest information on this year’s best casino games and a variety of gaming options, all in one place.

To start your online gambling journey, all you need to do is create an account on the site, deposit funds and you will be ready to bet on the best and most anticipated casino games.

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