The history of the emergence of the first exchange is quite vague and many experts believe that it was at the beginning of the XXI century. The version indicates that in May 2000 in England they created the first online institution, which worked in the format of playing players against each other but taking into account the commission of bets. The conditions were equal, the margin was absent, and such variants extremely interested all professionals.
The progenitor of such a format is called the Flutter brand, which immediately after its launch won the market and many gamblers. This required the betting companies to start active marketing activities in order to stop the loss of profits because the conditions of the betting exchange offered excellently. A little later, a competitor to Flutter – Betfair – appeared on the market, which according to some versions is considered the founder of such a format for the game. In fact, and officially, this is absolutely not the case. However, if we take into account the future merger of the two brands, there is no particular difference in who was first.
The truth is that once the cooperation was established, one Betfair company really conquered the market and became unattainable for the competitors. Many other brands tried to develop the revolutionary idea, but the imitators could not offer such excellent conditions and security as the more famous bookmaker. As a result, players began to actively use the Betfair offers. The advantages are more than substantial – here you have a classic betting bank, and additionally, there is a betting exchange. A chic choice for self-confident players.
Separately, brands like WBX, Betsson, Matchbook, and Betdaq are worth mentioning. These are good options that provide good terms and minimum requirements but are significantly inferior to Betfair in terms of functionality. Moreover, it is important to understand the main point – the more potential opponents, the better. Otherwise, there will be no one to play against and you will have to use the services of an ordinary betting company.
Betting Exchange – The Main Features And Designation
The history of the sports betting exchange is not the richest and most interesting, in fact, there appeared an additional option to earn money, but in time a popular BK came up and promptly conquered the market. But at the same time, the option itself became innovative, because there was no need to accept not the best offers of the office, and there was a chance to establish their own rules.
So let’s give the designation in simple words to consolidate the understanding. A betting exchange is a certain institution (online platform) that is created for betting between a certain number of gamblers on different presented events. Betting amounts and odds can be offered individually. The conditions are decent and it would seem that everyone will soon forget about the usual bookmakers’ offices. However, this did not happen and it is clear why – all people are different and if it comes to money, common sense is lost and the stage is occupied by: impudence, guile, desire to make a profit on others. Therefore, exchange betting can be regarded as a good additional option, because the conditions are not stable.
This format of betting allows you to agree with the terms of the bet offered by other gamblers or you can create your own bet to sell it to others. Not always the first option can be profitable, as well as the second. However, every pro is interested in playing this way, because you can become a participant in buying and selling bids, making different transactions, as in the major financial markets. The betting exchange in this case is considered a certain intermediary, which provides the right service and security to make trades.
Also, when parsing the concept, the phrase “match trading” comes up all the time. No need to think, this is not a “contract” or corrupt scheme, but the usual prediction of probabilities and certain outcomes on a particular sporting event. Sometimes betting exchanges are called “bookmaker trading” and it looks quite relevant. With experience, knowledge, and skills, there are high chances of winning, especially against weak opponents.
How The Betting Exchange Functions
The interface of the betting exchange is very similar to the usual bookmaker’s office. However, the process itself and the features of operation are fundamentally different. First of all, selecting the outcome and the desired event, to confirm it at once may not work. One side may be satisfied with the odds, and the other not. That is why the betting exchanges are called “market”, “gambling hall”. Despite the mass of powerful advantages, you must first of all agree, and also, of course, must go to the selected event. Otherwise, you can lose a lot of money.
The main features of the functioning of the betting exchange
The online platform resembles an ordinary betting company. Everything is almost identical: the odds, you need to register and replenish your account, undergo verification, and the like. The only difference is the format and approach to betting.
There is a seller and a buyer. The trader bets by himself on certain odds and allows others to do the same, but on his own terms. The buyer in turn is a player who enters into a deal with the seller. He can agree to the terms or he will look for more interesting offers. That is why the more popular and well-known the exchange, the better to find profitable options for betting.
The principle of operation resembles the stock exchange. The essence and features are identical, except for the subject of trade, which in our case are bets, odds, and outcomes of sporting events.
To start playing on the betting exchange, you need to create an account, pass verification and replenish the balance. These are mandatory requirements that allow you to get the necessary level of data protection and account security. Then everything is simple – you need to choose the game in pre-match or in-play, make a prediction and wait for its approval. It is more difficult to play in real-time, because it is possible not to get the confirmation, missing the opportunity to make money.
Game On The Betting Exchange
First of all, it is worth understanding the process of playing, which is practically the same on different exchanges. Options for betting only 2: “for” or “against”. The odds are indicated against the corresponding field. When the player likes the conditions provided, he agrees to them, indicates the amount in the coupon, and confirms the action. Everything is very simple and in this case, the principle corresponds to the usual bookmaker’s office.
If one chooses to bet “against”, then the player himself becomes a bookmaker. Often beginners prefer outcomes with a very high probability of winning. Let’s take the soccer match between Bayern and Wolfsburg as an example. The player takes a bet against a win for Bayern with a maximum bet of 500 rubles. The odds are 3.6, so the liability will be 1,800 rubles. If Wolfsburg wins, it is possible to win 500 rubles, which was offered by another player, minus the commission of the betting exchange. However, if Bayern wins, you will have to give another bettor 1800 rubles. Almost always the player is risking a sum that is 2-5 times the likely income.
At first glance it may seem that playing on the betting exchange, is like spinning the reel in the casino slots – lucky – unlucky. But in reality, it is a little easier. You only need to understand all the features and nuances, which allows you to feel the serious privileges of exchange betting. There are no limits and restrictions on rates, so you can risk absolutely any amount of money that is in the account. You can also use any strategy to achieve success.
The main features of playing on the betting exchange
You can play against one opponent or several at once. Basically, it depends on the size of the bet and the willingness to make a prediction on the selected event. That is, you need to actually outbid opponents to confirm the action. For example, 3 players bet 100 rubles each on the match “Bayern” – “Wolfsburg”, on the victory of the first team. Another player wants to play against them, who bets 300 rubles. As a result, the system confirms the bets for all. It is important to remember that the initial bet can accept one or more bettors, depending on the amount used.
The match line displays the proposed predictions. This is similar to the section presented in the usual bookmaker’s office, but with one difference that the odds are not fixed and change depending on the opinion of professionals or beginners.
Absolutely all registered players can make their own offer. That is what the betting exchange was designed for, and it would be foolish to allow only a limited number of people to make predictions. The betting market is considered to be transparent and quite fair – you can buy if you want, and if not, you make your offer.
You can refuse to bet, but only until the bet is accepted. When the terms are accepted by another player, it means you should only hope for a qualitative analysis of the event and the opponent’s offers on the exchange. If the prediction has not yet been accepted – you can refuse.
Betting exchange provides excellent opportunities for all registered players. It is allowed to bet on the same match as many times as you want, and the maximum size is not specified and it can be any amount. Not only the main outcomes but also the totals and handicaps are presented in the best way on the exchange. What exactly the institution does not please, it is exotic options for betting, which even in the usual BK do not have a special demand.
Advantages And Disadvantages Of Playing On The Betting Exchange
The most significant advantage of playing on the betting exchange is the absence of margin, as such. The process is carried out on pure quotes, especially attractive by their performance. A traditional betting company does not hesitate to add a commission to absolutely any odds, because this is the main option for making money. The player has to pay already when creating a betting slip, regardless of the outcome. For instance, the odds of both teams winning are equal, so the line may contain the odds of 1.9 for each team. Accordingly, the bettor immediately loses 100 rubles, even if he has not yet made a bet.
At the betting exchange, everything is more adequate because the odds can be set individually, of course within reasonable limits. When an event needs to be given 2.2, and the bettor offers 4.5, it is clear that no one will respond to his terms. It is quite possible to win a few tenths because there are even more amateurs on the betting exchanges than on regular betting exchanges.
Let’s highlight all the advantages in one list
There is no margin. Betting exchanges earn only on commissions, which are insignificant. In return, players get the opportunity to multiply capital at a distance, without paying any costs even before accepting a bet.
Good odds. To promote the betting exchange, many brands give improved quotes that attract attention. They are definitely higher than in conventional BKs, which is why many pros have long since changed their residence in the gambling sphere.
It is possible to create several coupons at once only for one event. In traditional BKs this is usually forbidden.
There are no conflict situations. The probability of getting a refund for any questionable event in the match is equal to zero, because not the bookmaker sets the rules, but the players themselves. Therefore, the errors in no way affect the final result.
On a separate note worth highlighting the huge limits. Some betting exchanges do not have them at all, which gives excellent chances of earning for professional high rollers. Why is it so? It’s very simple – the more amounts of bets, the better for the exchange, which gets the profit from the commission.
The benefits are substantial, and even for beginners. But there are also disadvantages, explaining the unprecedented popularity of bookmakers, which are still more popular than the betting exchanges. First of all, it is worth highlighting the speed of betting. In a bookmaker’s office, you only need to select an event, specify the amount and confirm the prediction. At an exchange, another player has to accept the bet or set up negotiations with the bidding, which can take a long time. Professionals rarely change their terms, so sometimes you have to agree, losing money. Often a margin of 100-200 roubles from a betting company becomes a trifle, compared to losing much more money.
The competition can also be considered a disadvantage. In simple words, in practice, it is very difficult to find and make a profitable deal because the competitors are the same people, knowledgeable in sports. Making money is real, but getting a solid advantage is hardly possible. It is much easier to find valuables or mistakes of the BK. Well, another disadvantage is the difficulty in learning the nuances. The rules are simple, but it can take years until the client figures out the particularly profitable options for earning.