Gambling
Betting exchanges are a popular alternative to sportsbooks.
Rather than placing your bet at a sportsbook, you are proposing bets to fellow punters.
Thats right, there is no sportsbook offering prices for any of the wagers.
At a betting exchange, you are the bookmaker and the bettor.
Just form your predictions and name your price.
This is basically a small house edge that they put in all of their bets to make a profit.
To learn more about that, skim through our article onjuice in sports betting.
Instead, it ensures that money is transferred between bettors.
However, to double-check that the business stays afloat, betting exchanges charge a commission on all wins.
Usually, this rate is between 2% and 5%.
In Theory
There are three important terms to define before going forwards.
The person who makes the bet, who is backing the wager.
This is a straightforward wager, just like the ones you might place in a sportsbook.
You set the odds yourself and then place your wager.
The person who places a bet against the backer.
This person is the layer and they place a lay bet.
This is the opposite of the wager you would make in a sportsbook.
Liability is the stake that the layer needs to place.
If you win, you take your liability and your profit.
If your lay bet loses, you lose your liability.
Whether you want to back or lay a bet is completely up to you.
you could start by backing or laying a bet against a wager that is already proposed by another punter.
As long as people are betting against each other, the system works.
A layer places a bet against your wager.
Should Arsenal win or the game ends in a draw, they would win.
The layer must put aside $8 in liability to win $10.
The liability is basically what it will cost to place the bet.
And that is where you come into it.
The odds are usually almost the same, as the laying odds are shown in an inverse format.
Strategies
The flexibility of the odds gives you a lot to play around with.
you’re free to find plenty of futures and pregame betting markets.
Live bets are also available, and they are not as volatile as you may think.
Even though these bets are being thrown around by peers, the live betting market tends to move slowly.
Here are some things you will want to consider when planning your bets.
Approach Live Betting with Caution
Live betting lines move differently at betting exchanges.
Conventional bookmakers have computers that generate the odds constantly, reflecting what is happening in a game.
At betting exchanges, instead of relying on computing and algorithms, the odds are dictated by people.
If you go too high, you are at risk of waiting.
And then what if something monumental happens and changes the course of the game?
it’s crucial that you quickly withdraw your proposal and come up with new odds.
Remember, you are not only the bettor but also the bookmaker.
A lot of hedge bettors can find great opportunities in back-to-lay or lay-to-back bets.
Your second bet should cut all your losses, so you are onto a surefire winner.
Hedge betting does come with its dangers though, and it will not work for you all the time.
you’re free to find out more on the subject in ourguide to hedge betting.
But a lot of these can still be useful.
As you are wagering against other players, it is impossible to pick accumulator bets.
You cannot simply pick different wagers and combine them into one wager.
It does not just extend to parlays.
This means not only giving up on cashouts, but also special tools like partial cashout or early payouts.
Chances are, we have you covered, and have assembled posts on the top sportsbooks in your area.
However, you’ve got the option to quickly adjust to it.
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