What is a Betting Exchange?
A Betting Exchange operates similarly to a stock market, allowing the user to trade their bets. Rather than betting against the sportsbook
, the user bets against fellow users, with the betting exchange acting only as an intermediary and taking a marginal commission from winning bets. Users can place
a “back” bet
– betting for an outcome – or a “lay” bet
– betting against an outcome (check out our Hedge calculator
if you'd like to do this). The two most noted advantages provided by a betting exchange ahead of conventional Sportsbooks
betting and very sharp odds
. Betfair is an example of a betting exchange.