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what is the difference between Betting exchange and betting

Williams12Williams12 Member Posts: 147
in The Rail
Has someone tried Betting exchange?
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    HAYSIEHAYSIE Member Posts: 32,151
    Before exchanges punters bet with Bookmakers.
    Exchanges allow punters to become Bookmakers.
    Anyone can bet or lay, on exchanges.
    It is possible that a better price than the bookmakers are offering, may be available on exchanges.
    These days they usually quote the prices available on both, on the telly.
    If you plan to lay, just bear in mind that you have to have enough money in your account to cover the bet.
    So you couldnt lay 5k on an even money favourite in the hope it would lose, without having the funds in your account.
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    TheEdge949TheEdge949 Member Posts: 5,182
    The most important thing to notice is the value you get from using an exchange. Usually the round up will be 100.5% compared to say a typical 140% or more that bookies use.

    Also you can see how much money is in market, you can see how the money is trending and you can trade your position in running.

    Watch any of the tv racing or greyhound channels and see the big difference in value you get with exchanges.

    Also as you are wagering peer to peer winning accounts will never be gubbed or restricted although the 5% commission paid on winning bets may increase for very profitable / professional punters.

    The only drawback is the inability to place accumulators, but why would you want to.
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    legascaaclegascaac Member Posts: 124
    Be the bookie on the betfair exchange you always do better being the bookie than the punter laying in running as well
    Football also good for making cash all you need is goals
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    TheEdge949TheEdge949 Member Posts: 5,182
    legascaac said:

    Be the bookie on the betfair exchange you always do better being the bookie than the punter laying in running as well
    Football also good for making cash all you need is goals

    Or not. Depends on what markets you are trading.

    Newbies need to understand trading as it differs from betting. I just wish that the average punter could see the value they gain from straight betting. If everyone switched to exchanges that would force the bookies to give better value.

    As for trading that's a completely different but not difficult to understand way of using the exchanges.

    Goals over/ under markets certainly offer the easiest and most scaleable way into trading.
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