You may have heard about betting exchanges, these online gambling portals that seems all the rage these days. You may have asked around about it and did a little online reading of your own discovering that it’s an opportunity for quick money and a viable source of income – at least, if you understand it inside-out.
Let’s talk about some fundamentals, shall we? A betting exchange, as the name suggests, is a place where people’s bets are matched to their counterparts – done electronically, of course. For example, when a punter places his bet for a particular outcome, what the exchange does is to search for a person that has a played bet against the original. When someone is found, the contradicting bets are then played against each other. It never is simpler than that; without the need for a middleman, the process of betting has been made more efficient. Of course, given the general trend of web technologies, most bets are not just placed one-one; this peer exchange could easily result into a many-against-many game and it could still be done as smoothly as ever.
Another benefit of using betting exchanges is the fact that players could bet against a particular outcome (or lay), as opposed to traditional betting systems that require punters to bet for the outcome (or back). It is usually the bookmakers place to lay a bet, but with betting exchanges this is eliminated altogether. Players now have the freedom to just contradict an outcome and it’s all allowed. Aren’t betting exchanges interesting?
Betting exchanges also allow players to change their betting positions within a long-term event. Just think about it: changing strategies in the middles of a bet is allowed! Since bet matching is the only significant process being done here, we eliminate the need for the hardened positions required for bookmaker-facilitated games. We could also strengthen one’s position by placing a price on the bet instead of just backing it a boon that most punters would agree is an enticing one. It is also interesting to note that, contrary with bookmaker-led games; one could raise the stakes higher with betting exchanges – with a better control over one’s game who wouldn’t? With this knowledge, just imagine how one could optimize one’s betting strategies!
Speaking of strategies, Bookie Bonus Buster is a free eBook I wrote to help punters play better games with betting exchanges. It compiles the algorithms preferred by punters, one of which is the practice of betting against winning games. Now this might seem counter-intuitive, but remember, one has a better grip on how games are to be played within betting exchanges – makes you think, right?