A betting exchange allows gamblers to bet against each other rather than against a bookmaker. This segregates them from the traditional style betting shops and bookmakers. A betting exchange allows the user to act as the bookie themselves by setting the odds for an event or the customer who bets using the odds set by the other punter.
Traditional bookmakers accept the risk of going head to head in wagers and bets with punters, the sole business of a betting exchange does not involve any risk.
A betting exchange simply provides the technology that pairs punters together in order to place wagers, for a small commission from the net winnings that result. Nothings quite for free.
Betting exchanges opened up a huge range of wagering options for punters, simply because people are willing to back bets that risk weary bookmakers simply would not. The technology of betting exchanges allows punters to instantly find people and the odds they are looking for in order to place the bets they want.
The major difference in using a betting exchange is the option of lay betting, or backing a selection to lose. If a betting exchange can find a punter willing to put a bet on the selection you wish to put a lay bet on, then your bet can take place.
The prices at a betting exchange are determined by a free market, rather than being set by a bookmaker which makes a vast difference in your overall winning opportunities.
Online betting exchanges caused a huge shift in the way people gamble all over the world, creating opportunities for punters who could never have existed before new technology was utilised in this way.
Betting exchanges have proved to be hugely popular with punters who seek a wider range of betting options and a bigger variety of odds.
While there are many punters who prefer the traditional style of bookmaking, and happy to bet against a bookie in an attempt to overcome the odds and win, a new breed of punter has emerged as the popularity of betting exchanges has spread around the world.
Betfair in the rise of betting exchanges has been crucial. Dubbed the greatest success story in the history of gambling, given its meteoric rise in what seemed like an unfeasibly short space of time, Betfair is now one of the most visited, most talked about betting sites in the world.
By allowing online gamblers to place lay bets for the first time, Betfair Exchange caused ripples that were felt throughout the gambling world, with bookmakers everywhere being forced to re-assess the way they operate in order to respond to the new proposition that had been made available to their customers.
In short and simple simple terms, the betting exchange offered betting without bookies.
Rather than being limited to the odds offered by bookmakers, and being limited to making only place bets that backed a winner of an event, betting exchanges allowed punters to go head to head against other punters and create their own markets for betting.
For over 15 years, customers have been doing just that. Week in, week out, across all manner of sporting events, visitors to online betting exchanges have been posting their own odds and the amount of money they are willing to accept in wagers. Other customers then bet on the market at the posted price, and the bets are matched.
Betfair Exchange brought a refreshing change from traditional bookmakers, which often left customers feeling as though their chances of success were low, and they were betting against a giant, faceless fountain of knowledge that could not be defeated.
The Betfair Exchange forum was testament to the vibrant culture that quickly sprung up around the site. Customers experienced a spirit of camaraderie, which only grew stronger when some traditional bookmakers spoke out against the rise of Betfair.
Latest Betfair Exchange Promo Code for a £20 risk free bet when you open a new account at Betfair. Place a £20 qualifying sports bet and if that bet loses within 7 days of account opening, Betfair will refund you £20 in cash. Free bets are credited to your account within 1 hour of your qualifying bet being settled. The first Exchange bet you place within 7 days of registering your new Betfair account must be a minimum of £20.
New customers only, bet up to €/£20 on the Exchange and if your first bet loses, we'll refund you €/£20 in Cash. Bet must be placed in first 7 days of account opening. T&Cs apply.
Here we have compiled a quick and easy intruction guide on how to claim your risk free promo code bonus at Betfair Exchange.
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