All you need to know about betting exchanges
Is the bookmaker an extinct breed? . You can now choose to play against another person - so-called P2P. When you play on a betting exchange - also called a betting exchange - you are playing against other players, not a game provider. It's a bit like the mechanisms you know from a betting exchange where supply and demand dictate the price, and then there's just one platform that facilitates the trade. The platform - in this case the Betting Exchange - takes a small commission of all winning bets, but otherwise blends in with the odds on offer.
What betting exchanges can you play at?
A betting exchange requires a huge amount of liquidity (lots of customers and bets) to function as intended. Unfortunately, there is only one gaming exchange with a license; Playing Exchange. Fortunately, it is also the best betting market on the market, and the selection of real competitors is unfortunately overlooked. In the past we could use betting exchanges lie Parbet, BETDAQ (bought by Ladbrokes), Matchbook and , but the competition with the mighty has taken the lives of these operators. Today Betfair's Betting Exchange is the leading exchange platform.
An all-dominant market leader with great product
As mentioned, Gaming is by far the world's largest gaming exchange. It is estimated that the company has a market share of over 90% for betting exchanges. BETDAQ still has little revenue in primarily the UK, and it is estimated that they have a small 7% of the market. The Exchange was established in 1999 by the two Englishmen, Edward Wray and Andrew Black. Since then, the company has just grown and grown - and following the merger with Irish Paddy Power, the company is approaching a market capitalization of $ 60 billion. The company now has offices in several parts of the world, but the focus is still on the two offices in London and Malta respectively.
What are the Benefits of a Betting Exchange?
The most obvious advantage of a betting exchange is, of course, higher odds. The odds you find are consistently higher than with a traditional bookmaker. The odds may be up to 20% better than with a bookmaker, but it varies greatly depending on the specific market. Eg. you will surely be able to pick up higher odds on a Champions League match at , while there is not much scam to play on ice hockey or handball. The Commission at the Betting Exchange has gradually moved up to 6.5%, which of course erases pretty much the benefit. In 2015, the Commission was raised from 5% to 6.5% in the market, which in itself is a huge disappointment for us who love the concept.
New ways to bet
When you play on a betting exchange you suddenly have a lot of new ways to win. At a traditional bookmaker it's about finding "winners", while at a betting exchange it can also be about finding losers. You can choose to "sell" odds, which means you are betting against an outcome. If we take a typical 1X2 match, you will usually play on one of the outcomes of your bookmaker. You will thus lose the game if your outcome does not hit correctly. For example, at a gaming exchange you can. choose to sell the second in a match. That means you win on both home victory and a draw. It is a bit like a good old-fashioned half-guard. For some players it is easier to find "losers" than "winners" and for them a betting exchange is a revelation.
Winning games / long-term betting have also opened up new ways to make a profit. Let's take a World Cup final round as a concrete example. With a traditional bookmaker you will typically be able to bet on who wins the World Cup. It may be that a bookmaker gives you odds 5 of Brazil winning the World Cup, and these are more or less the options you have at that game. At a betting exchange you will be able to buy and sell odds on the winner of the World Cup tournament. Let's say that you didn't quite know your big favorite to win the tournament, then you can still play a game if, after all, you know who it won't be. "Belgium never wins the World Cup" is what you've come to expect - and they can be sold at odds 10 on Playing Exchange. This means that depending on the size of the counterpart's bet, the bet is liable for x 10. You now act as your very own bookmaker. You win at all World Cup winners other than Belgium - in return you get a bit of a hitch if Hazard & co succeeds. to take the title.
