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A betting exchange is an online service that covers betting on a variety of sports such as football, basketball, tennis, golf, poker, and other sports. It is companies that allow betting providers to exchange odds and bet against each other, rather than betting against bets on the sports system. While sportsbooks are focused on fixed-odds betting, betting exchanges offer a fluid marketplace where customers can play against others.
As the original online betting exchange Betfair have a distinct advantage in that respect. However, depending on what betting activity you undertake, Smarkets may be better for you. In any case, we would recommend that you have a Smarkets account, as back up for Betfair or any other exchange platform in case they go down and you are left in a position where your liabilities are higher than you would like them to be.
Betting Exchange Sites Key Features Sign-Up Link; MATCHBOOK Liquidity: Medium 0% commission £15 Welcome offer: Money back as cash if your first bet loses . Sign up with Matchbook> SMARKETS . Liquidity: High Excellent service 2% commissions . Sign up with Smarket > BETDAQ . Liquidity: Medium The betting exchange newcomer 2% Commission . Sign up with Betdaq > BETFAIR
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The betting exchange itself is simply a tool that allows gamblers to place their bets. Using the technology provided by the betting exchange, individual gamblers are able to play the role of traditional bookmaker, with the betting exchange accepting a nominal commission on each transaction for the service provided.
Betfair’s Betting Exchange lets you bet against other people and get great odds on thousands of markets every day. Best Odds Bet In-Play Cash Out. Join Betfair Now »
Bet online at Bethive Sportsbook. We also offer Casino, Exchange Betting and Promotions.
In other words, that player is placing money against the outcome in question. For a bet to be considered valid, they both have to agree on the odds and stakes on their own terms. Therefore, an online betting exchange site is only there to connect these two players and enable these two players to put their words into action. So, to sum it up: