Betting Exchanges have revolutionised the
UK gambling industry by providing:
The only drawback with them is that, as you might expect given
the extra functionality they offer, they are a bit different
to normal bookies, so it may take you an hour or so to understand
how they work. Its time well invested however, as no-one who
has started using a betting exchange has ever regretted it.
We've been using betting exchanges, especially BetFair, for
a few years now. BetFair was the first betting exchange to
really hit the scene and because of this generally has a higher
number of users (meaning usually better odds on offer), as
well as a well thought out site with some great betting tools.
While there are definitely reasons to join the other exchanges
such as BetDaq and Sporting Options so you have more odds
choice etc, we recommend BetFair as the best one to start
with.
So how do betting exchanges work?
Betting Exchanges work by matching the bets of punters directly
thereby eliminating the bookmaker from the arrangement entirely.
While they do take a small commission from winning bets this
is a much lower cut than his normally taken by the bookmakers.
Hence often this leads towards being considerably better.
Betting Exchanges give you so many options in addition to
the great odds that this makes them a bit more complicated
than normal bookies. The following guide is broken down into
sections that start with just the basics of making a bet in
much the same way as with a bookie (just probably at better
odds) and take you through to some of the more advanced things
you can do like laying to lose and closing bets. If you are
bit unsure about this then take a look at Stage 1 which is
pretty simple, and then move on to other areas later if you
feel you need them
STAGE 1 - Betting
to Win Basics
Basics on making a bet in the same way as a normal bookie,
just at much better odds.
STAGE 2 - Setting
Your Own Odds
Making an offer to bet at a price to see if anyone will "take
you on".
STAGE 3 - Laying Losers
You don't see too many poor bookies - so why not try it yourself.
Be the bookmaker. If you know a horse wont win or is too short
the lay some bets.
STAGE 4 - Taking
Profits Early
Back a horse at 33-1 ante-post and then "sell your bet"
when its 8-1 on the day to take a profit whether it wins on
loses
