Sports betting has been live in some form for thousands of years. Earlier the wagers were made between people, with no middleman in the equation. And, as the sports betting industry evolved, traditional bookmakers began handling the action for the sports bettors. Today, online betting exchanges have been gaining huge popularity among sports bettors across the world.
Betting exchange is a platform that allows individuals to bet against each other. In this type of betting, instead of placing a bet against a bookmaker, the sports bettor places it against another person. The betting exchange concept is to take out the bookmakers from online betting and allow the punters to bet against each other. So, in this type of betting, two people will decide the odds and stakes, and then they place bets.
The odds available tend to be better and fairer as they are set by real people. Today, a number of online betting sites have started to offer this new concept. These are great ways to get the best odds on sports and give you the best chance at winning the bets.
The basic principle of betting exchange is very simple. It essentially matches up people who want to take opposite sides of a stake. The main difference between betting exchanges over traditional betting is that with an exchange you can bet directly against other players. Basically, there are two kinds of players involved in betting exchange where the first player places the ‘back’ bet and the second player ‘lays’ a bet.
Backing a bet on an exchange is the same as we are doing so with a bookmaker, and involves selecting an outcome simply and deciding a bet/wager. And, on the other side laying a bet means against the outcome.
To understand betting exchanges, let’s take an example of a football match between Team A and Team B where you believe Team B will win. Rather than simply backing a bet on Team B to win, you can also lay a bet on Team A not to win.
Backing- It means that a player is betting that something will happen
Laying- It means a player is betting that something won’t happen.
Before considering betting exchange, it’s important to consider a few points. Make sure to check how safe that particular site is. The following are the things to check before any betting exchange:
• Full licensing
• Secured website
• Safe payment methods
• Transparent odds
• Customer support
Since you have understood how betting exchanges work; you would like to know where you should access the betting exchange websites. There are many popular betting exchanges that you may consider and they have a detailed verification process. Some of these are Diamond exchange, Jio exchange, Satsport exchange, and more.
Among these, Diamond Exchange is one of the most popular betting exchanges that offer you an amazing betting experience that would satisfy all your betting requirements. It offers back-lay betting odds under exchange as well as normal odds in a separate sportsbook.
There are numerous advantages of betting exchange which include:
• Better odds
• Better betting margin
• Flexibility