If another punter disagrees with your prediction, they can match your bet at that price.Ĭonsider a Liverpool vs Manchester City match. Lay Bet: Laying means that you are predicting that a certain outcome won't happen.įor example, if you believe a football team's odds will increase after team news is released, you can request a higher price.Back Bet: Backing means that you are placing your wager on a particular outcome to happen.Read on to see just how user-friendly they can be! How Does a Betting Exchange Work?Įssentially, a betting exchange allows players to create their own markets – one for backing an outcome and one for laying against it. What do these two terms mean exactly, you might be asking? Well, you are either betting on something to happen (“ back betting”) or betting on something not to happen (“ lay betting”).ĭid you know that Betfair, the most popular betting exchange in the United Kingdom, was hugely influential in the evolution of mobile betting? In fact, their app was the first of its kind on the Apple store.Īs you can see, betting exchanges are actually pretty simple in concept. Put simply, it’s the quantity of customers who are back betting and lay betting that helps determine the odds. The markets are not simply priced by the bookmaker, but by many hundreds or even thousands of bets being placed. The latter can easily be as high as 110%, meaning you typically get objectively more competitive odds. This comes at a small commission charged by the site itself, which rarely comes close to your traditional sportsbook overround. #adĪ betting exchange is a platform that enables punters to bet on events and markets against each other, as opposed to against a bookmaker's sportsbook with fixed odds.

Not available to API, RDT or trading software customers. Standard 2% commission rate applies on 101st day. Offer only available to users who deposit via debit card. Promo code 0COMM100 must be entered during registration. 0% commission on all exchange sports for 100 days.

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