Most readers of this blog will already know how a betting exchange works.
However, recently there have been quite a few basic questions on the topic…
Here are the basics, covering;
- What is a betting exchange
- How a betting exchange works
- Why it’s better to use a one
The first point is easy, seeing Betdaq asked me to feature in a snappy 5-part series they produced…
How Betting Exchanges Work:
I don’t think it can be much simpler than that.
Users are often confused by the decimals used by exchange betting. In comparison to fractions it can appear a bit daunting at first, granted. But that’s covered too (in this later video).
Hopefully that’s any ambiguity behind how a betting exchange works cleared up…
Why Use Betting Exchanges?
The next question for the average punter is; so what? why are exchanges better than a bookmaker?
The answer is easy, seeing there are so many reasons!
Typically (the rare occasion) you get better prices on a betting exchange. Simple.
On top of the prices, you’ll find – betting exchange providers won’t turn away winners. It’s no secret, in this day and age, bookmakers routinely close down winning accounts and will only let you bet if its at bad value. With betting exchanges it’s peer-to-peer betting, they just take a small commission. If you’ve had problems with account closures previously, it’s worth checking out this article about ieSnare and how you can block it. (some sneaky spyware bookies use).
Also, because of the better prices it’s far easier to trade or cash-out for a profit on an exchange. Mainly because the bookmakers hit’s you twice when you cash out with them. Ohh and of course you can arb and matched bet using an exchange too. (bookies hate this).
Not convinced yet? It that’s not enough, I’m all out. It’s a no-brainer.
Next Level Betting…
Following on from understanding how betting exchanges work, the next question is usually about lay betting.
To get the most it’s advisable to view all 5 of the videos created by Betdaq (link below).
Succeeding in the betting markets is rarely an over-night success. It’s not what the punters want to hear, but in my opinion; overnight successes take at least 18 months!
Not to say it’s not possible far quicker, but proper results took me a while. Just check out the blog archive and look back a few years. With more content like this though it’s bound to be a lot easier to get up to speed. The remaining 5 videos contain topics like:
- Backing, Laying and Decimal Odds
- How to Trade and Cash-Out
- Finding Winning Edges
- Trading Tools and Software
Give it a whirl and see… at the very least they’ll be useful to share with friends and family to explain the basic concepts. A frustrating topic for many new traders I know!
How Betting Exchanges Work Series: 5 Part Video Series