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| What are Betting Exchanges? |
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Betting exchanges are a fascinating and revolutionary new development in betting and gambling markets which has turned traditional Bookmakers and (transforms the way people view risk, formerly known as gambling) the rest of the gambling industry upside down. Betting exchanges aren't as well known to most visitors to Online Bookies. Unless you are an experienced Sports Betting punter or are from the United Kingdom where they use bet exchanges all the time, and they are very popular, you would not be aware of this type of wagering.
The way betting exchanges make their money is with a small transaction fee or commission basis. Exchanges bring together betting players and then take a percentage commission on the net winnings. These betting exchanges started around 2001 and brings back the old style of betting which is the player to player betting scenario. They've even started to offer Free Bets over recent years! You never place a bet against the betting exchange, like placing a wager against a bookmaker, you wager against other players of the betting exchange. If you decide to use a betting exchange, keep in mind that the odds at these exchanges are anywhere from 15% to 20% lower then normal online bookies.
Betting Exchange commissions are similar to Online Poker room table percentages. In poker rooms, the house takes a rake, or percentage of each poker game played. There are several exchanges on the Internet and one of them is Betfair, they charge a modest transaction fee of 5% of the net winnings.
Online bookies are not the same as betting exchanges. Online bookies are like stores with set prices, no negotiating on the price and it's the same price at any other online bookie, where, as betting exchanges resemble the Stock market. This is a common misconception or mistake that sports bettors make. At the stock market, an investor have stocks that they want to buy or sell at certain price. Another investor is willing to play that price offered for that stock.
There have been millions of wagers placed through these bet exchanges. One of the main reasons why sports bettors like them so much is other bettors set that the odds not Online Bookmakers. The majority of the betting comes from the UK market right now but it expanding into the USA fast.
At sports betting exchanges with odds at 20% lower than online bookies the appeal is there to place a bet and try exchanges out. When choosing an Online Betting Exchange make sure it's a licensed and government backed betting exchange. Some also have poker and casinos attached to the exchanges. The Internet is a good place to surf and check out the numerous sports betting exchanges (Betfair, Betdaq) available. |
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