Betting Exchanges

Betting exchanges are something that you’re going to hear about if you’re used to watching horse races or betting. The main betting exchanges in Europe are betdaq and betfair. If you don’t know exactly what a betting exchange is and how it betting exchangesworks, you should know that it’s somewhat different from a regular bookmaker. A normal bookmaker will offer a certain rate at which you can place a bet when you use them. When you use a betting exchange, you’re no using a bookmaker, but using other people to bet against them.

Strategies and methods of placing bets with betting exchanges are many and they can be found online. While this article can’t list them all, it will tell you the top three tips.

First of all there is the backing. When people use betting exchanges they usually do this. It’s basically the same as with the betting you do with a normal bookmaker, but you receive a better price if you use the betting exchange. That’s why so many people prefer it.

The second one is laying, which is backing’s opposite. While with a backing bet you expect a certain horse to win, with laying you hope that it will lose. The same goes with any other selection you might have made. Basically, with laying, you hope that anyone wins, except a certain horse, which you expect to lose.

Finally, the third and one of the popular methods of using betting exchanges is the trading. Trading is a tad more difficult to explain, but it’s basically a bet in two parts. With trading, you want to back high and lay low, or you can do it the other way, by backing high first and laying low after that. If you don’t guess the correct order, you will end up losing money.

Photo credit: suwatch on Flickr

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