The traditional bookmaker is always the place to go to for making a sports wager. But recently the traditional bookmakers have stepped aside, somewhat, to allow the betting exchange to gain a foothold. This is a new type of institution and the position of the punter changes slightly.
A betting exchange is not about betting against the bookmaker. Rather than taking and giving money to the bookmaker, it is about betting against other gamblers. It essentially cuts out the middleman and makes sure the odds are influenced by the tastes and desires of the general public.
Some would also say it is far more exciting than other forms of gambling because it allows the punter to become the bookmaker. These are known as (LAY) betting odds and offer an entirely new way to bet.
The Good of the Exchange
The betting exchange offers a few advantages over gambling with a traditional bookmaker. The main thing is the profit margin. Bookmakers have to make a profit in some way. Look at the difference between what they win and what they lose, and then compare it to what they need to make and this is the profit margin. In order to increase their profits, the odds become lower at the expense of the profit margin of the gambler. Betting exchanges have no bookmakers that need to make profits, so therefore the odds are nearly always slightly higher.
Sometimes the idea of a bet causes the butterflies in the stomach to start flying around. Well, there is no need to leave it in the hands of Lady Luck. With a betting exchange, people can sell their made bets and harvest the profits.
Betting exchanges have yet to take over the positions of bookmakers, but it is growing and the numbers of exchanges continue to grow. This is why it is always worthwhile for players to incorporate a number of providers into their gambling portfolios.
Although the odds for a win increase because of no middle man, the exchange still has to make money from its players. Most would consider their way of doing things a better deal for the player. Instead of affecting all players by changing the odds, they simply take a small cut of the winnings. Even after taking this commission, the winnings still grow higher than those offered by a bookmaker.
The (LAY) betting odds are an alternate route into the market of sports betting. Play the role of the bookmaker and join a highly popular trade. It is an alternative to the staleness of regular betting and means punters can profit from the work of other punters. Offering the lay odds is also highly lucrative. Someone who is skilled at betting in this manner can make as much money as someone who prefers regular wagers.
Take note, the LAY formats differ between betting exchanges. Different rules and alternative spins on normal LAY gambling spice up the experience and make checking out the various exchanges worthwhile.
The Future of the Exchange
Exchange betting has a bright future as more people than ever before turn to gambling. This is a world where people expect more from their services. Eventually regular wagers grow tiresome and dull. The exchanges fill this gap nicely by offering a new way to make money, whilst still maintaining the values and enjoyments of traditional wagering. Fresh opportunities for gambling and wagering means this is certainly going to continue as a regular feature of the industry.