Betting Exchanges
As we recommend primarily “lay” tips, these type of bets would ordinarily (though not always) only be able to be placed with internet Betting Exchanges, such as the following:
Betting Exchanges allow users to place bets against each other in a similar way to which the stock exchange might work, except that instead of “buying” or “selling” shares, the user is “backing” or “laying” an outcome.
For example, in a win only horse racing market, the user will either “back” a horse to win the race in question, or “lay” the horse (offer odds to other users that the horse will not win the race). This is the basic operation of an internet betting exchange.
The “odds” on the bet are decided when a person offers a “lay” price that is the same as that requested by an other person wishing to “back” that outcome.
Most internet betting exchanges do not charge any fee other than a %age fee from the winner of the bet. On Betfair, this figure is around 5%, but it does fall based upon betting volumes.
While there are other internet betting exchanges than the three listed below, these are the major players in the market, which means there is often superior liquidity available on Betfair, Betdaq or WBX than you will find on smaller websites. Click the links below to visit the exchanges:
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