Did you know that betting exchanges offer more advantages than bookmakers? Well if you're looking at betting online it would be advisable to do some research.
Most people tend to head straight to a leading bookie when considering betting online. But, before you do, READ THE BELOW:
Although a betting exchange may sound quite a complex and daunting concept, it’s actually really easy to get to grips with and offers surprising benefits.
Do you know that you could take home on average 20% more of your winnings with a betting exchange as your odds are likely to be higher than the fixed odds offered by a bookie? Well, it’s not a myth. This is due to a higher liquidity available on an exchange.
Additionally, you can bet on something to lose, which, for example, in horse racing, could give you more of a chance of winning!
And do you realise that you can choose your own odds? If you’re put off by this, don’t be, it’s a good thing! All you have to do is consider how much of a chance something has of winning. Is it high or low? If there’s a high chance of it winning then the odds will be relatively low, and if there’s a very low chance of it winning then the odds could be quite high. Just enter what you think would be realistic for the market you’re betting on and see if someone else takes the bet. If they don’t take it immediately, then you can either wait to see if it gets matched later, or cancel it and put another bet on with slightly more realistic odds.
Another benefit is that the odds on a betting exchange are displayed in decimals, which makes the calculation of your winnings much, much easier! Fractions such as 33/4 can really be quite difficult to calculate, especially when you want to know quickly how much you could win. But with decimals, all you need to do is multiply your stake with the decimal odds to get your return (your winnings including your stake).
BUT, it’s what betting exchanges charge that you need to look at and consider carefully as these are quite different, and one may benefit you more than another. On most betting exchanges, commission starts at around 5% and goes down based on the amount you bet over time (professional gamblers are usually attracted to these exchanges as they bet large amounts and frequently), however, on Bettor.com, which has been designed for casual bettors (those who bet on the major sports events and not as frequently), starts at 1.5% and goes up if you win but it ALSO goes down (to 0%) if you lose, meaning you could get charged nothing on your next couple of wins. It’s up to you to choose which one best suits your personal betting habits.
If you’re still uncertain about signing up with a betting exchange because you’re not sure how it works, think of it as being like betting with your mates. For example, if you’re a Manchester United fan you may think that your team will win the next match, but your mate may beg to differ. So, you make a bet. You bet £50 that MU will win the next match, but your mate bets that it won’t. Well, if you are on a betting exchange, you would choose the Football market, select the appropriate fixture, then choose to ‘back’ Manchester United with a £50 stake and either select the odds on offer or create your own. When you have confirmed your bet, this will then go into the system and be offered to those who are considering laying this bet (i.e. your friend). So, if your odds are matched, sit back and enjoy the game. If Manchester United does win, then your friend pays up (£50 x the odds agreed). However, if Manchester United loses then the £50 you put on goes straight to your friend. In other words, your friend is acting like a bookmaker.
You’ve now got all the know-how so go on, stop thinking about it, and as Richard Branson says ‘Just do it!’
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