Online Betting Exchanges Explained
Betting Exchanges can be seen as the traditional way of placing a bet. Many years ago, before bookies came to existence, sports enthusiast placed bets against other players and that still happens today between friends or a gentlemen's bet at a bar. What many people do not realise, is that you can place these bets online at popular betting sites such as Betfair online sportsbook.
This means you get to place a bet, but instead of winning or losing to the site, you will changes what other bettors have wagered on. Thus ultimately bringing back the original way of betting with its natural options and straightforward winnings. Research has proven that this form of betting tends to be a lot more rewarding, up to 20% over standard betting, in fact, making it very desirable for bettors worldwide. Betting exchanges come with various benefits for bettors, including higher odds and more options. Users will find sites such as Betfair allows you to change your position even after the game has started, combined with better odds, which makes it completely understandable why this form of betting is the most popular with bookies following in its footsteps.
Making a success of this type of betting will require bettors to understand the options and features 100%. Many go as far as making a living with this kind of bets, meaning research and understanding the options is crucial, never mind knowing the teams involved with the next match.
Difference Between a Back Bet and Lay Bet
The best way to remember the difference between a back bet and lay bet is to consider what they do. A “back bet” means you are backing a team to win. For example, a Manchester vs. Liverpool game is coming up soon. You believe Manchester will take the game so you will place a back bet on them, backing the team up, basically.
Another bettor who might think your bet is wrong would place a lay bet on Manchester, effectively meaning Liverpool will take the win. A lay bet will cover the team to lose or draw against the other, meaning if Manchester loses or draws against Liverpool, the bettor who has placed a lay bet will win.
Another way to consider the difference, placing a back bet means you are betting on an event to happen, and a lay bet is the opposite of that, meaning your bet is on something that will not occur. For example, Manchester will win – Back bet, Manchester will not win – Lay bet.
Why Use the Betfair Betting Exchange?
Betfair provides an incredible range of betting options, including exchange options. Users will find their interface is easy to use and navigate. The site includes explanations of all their betting options along with settings to change the way betting is shown.
Betfair is a favourite for exchanges as their commissions are very low, and only those who have made a profit overall will be required to pay fees, which depending on various aspects. For example, if your commissions are 5%, but you use the site often, they will automatically lower it to just 2%. Thus allowing users to keep their winnings they place more bets.
At Betfair sports, you find one of the biggest exchange communities, and that is a real advantage and it provides you a community, is more enjoyable, let alone rewarding. Placing a bet with Betfair is efficient, secure, and comfortable with the options they present.
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