Exchange Betting Help
The Gambling and Betting industry has been revolutionised.
A number of online Betting Exchanges made their appearance on the Internet in
2000, and since then the growth of this industry has been extraordinary and it
is believed that as much as 30% of British Horse Racing is now being booked with
the betting exchanges.
Exchange betting has an oddsmaker, who typically, sets for an event
and includes a built-in margin. The exposure is limited through setting maximum exposures on a given
selection. Betting exchanges have turn this model around by giving the bettor
the chance to bet against other bettors themselves. They are given the option of accepting
bets as a normal bettor or offering your own
Odds
for others to Lay.
This type of betting is called Lay and Back. As the oddsmaker,
the bettor may offer the bet (Lay) that may be accepted (Back)
by other bettors. As compared to traditional oddsmakers, the oddsmaker offers a
bet (Lay) with Odds, minimum Stake, maximum Stake etc, and one has the
option of accepting (Back) the bet. More about Back and Lay follows below.
Betting Exchanges impose a smaller commission on
winnings, ranging between 2% and 4%, than your traditional bookie.
Should a bettor want to set his own price and Odds,
he would post a price and wait to see if any other
bettors would be prepared to "match" his price. IN this way he can obviously increase
his winnings or more conservatively decrease his net losses using realistic odds
of course!
Leading Betting Exchange Reviews
Exchange Betting Tips
Detailed Outline of the Workings of Exchange Betting.
Who are the Players?
In the beginning, there were 3 sites - Flutter, Betfair and P121 - each
with deviations on person-to-person betting. Bettors latched on to the Betfair
model. Betfair took over Flutter and P121 folded. By early 2025, Betfair
was doing UK ?1m a week, in on line bets, and it is currently the UK's largest
Online Gambling Business.
Tradesports
on the other hand, is leading the Betting Exchange pack for North American
Sport. Though not close in size to Betfair, Betair may not accept US play,
and this is what allows Tradesports to flourish in the USA.
Read our review of tradesports!
Warning! Betting Exchanges do allow for more interesting,
fun and possibly larger winnings. However, many newcomers have also lost a lot
of money by not understanding the system properly. Take the time to learn
what it is all about and how it works.
Click
here to read some more tips.
Backing and Laying Bets
I want to Back, but there are no available Odds and Stake
A player might try to Back Odds, for example Liverpool, but there is no Back order
available. This happens when no other player has placed a Lay order (or the
Lay offer has already been matched). This is not a problem though as the player
can now place a Back order
(or wait to see if an available Back order shows up). i.e. He may
decide to Back Liverpool and will have to enter his desired Odds and
Stake. His offer will then be displayed as available to Lay for other punters, and
he will then simply wait for someone to match his Back order.
I want to Back, but the available Odds are too low.
The player wants Back Liverpool at 1.6 with a Stake of $200, but the only
available Odds to Back are 1.55. He may however place a Back order at
Odds of
1.6 and enter his Stake of $200. His offer will be displayed as available
to Lay by others, and he then simply waits for another player to match his Back order.
I want to Back, but the available Stake is too low.
Assume the player would like to Back Liverpool at Odds of 1.6 with a Stake of $200, but
even though the offered Odds are 1.6, the available Stake is only $160. He may
still place a Back order at Odds of 1.6 and Stake of $200. But, while his order will be matched for $160,
his remaining order of $40 will be displayed as available to Lay by others. Once again, he will wait for another
punter to match this order of $40.
I want to Back, but the available Stake is too high.
The player would like to Back Liverpool at 1.6 and a Stake of $200, while the available
Odds are 1.6 but the available Stake is $500. He then places his
Back
order at Odds of 1.6 and enters his Stake of $200. His order is then
matched for $200 of the available $500. As he has only matched $200 of the available Stake of
$500, $300 is left for others to
match. This is known as partial matching.
I want to Lay, but there are no available Odds and Stake.
The player, in the role as oddsmaker, enters his offered Odds and Stake and waits
for another player to accept or match the offer. he may Lay Liverpool at
Odds of 1.6 for $200. This bet is displayed as being available to Back, and he
will wait for someone to match his Lay order.
I want to Lay, but the available Odds are too high.
The player IS the oddsmaker! So, although there may be an available lay order,
he may consider theOdds to be too high. i.e. Lay of Liverpool at
Odds
of 1.7 is available, meaning that another player has placed a Back order on
Liverpool
at 1.7, and is waiting for someone to accept the order. But, our player here may not want to risk having to pay the Stake x 1.7 if Liverpool wins the match.
He is only willing to pay at Odds of 1.6. Hence, he may place a Lay
order at Odds of 1.6 and enter his own Stake. His offer is now displayed as being
available to Back by others. .
I want to Lay, but the available Stake is to low.
The player wishes to Lay Liverpool at 1.6 with a Stake of $200. The Odds are 1.6 but the available Stake is only $160. He can then place a Lay order, at
Odds of 1.6 and a Stake of $200. His order will be matched, but only for $160, and the remaining $40 of his order will be available to Back by other players.
I want to Lay, but the available Stake is too high
The player wishes Lay Liverpool at 1.6 with a Stake of $200. The Odds are 1.6, but the available Stake is
$500.
He can place a Lay order, at
Odds
of 1.6 and a Stake of $200. His order will be matched for $200 of the
available $500, though $300 will be left to be matched by others.
What happens if nobody matches ?
The players' stake will be returned to him if nobody matches or accepts his Back or Lay order, before the game
starts.
What happens if someone matches only a part?
Should another player match or accept only a part of the players' Back or Lay order, the
unmatched part will remain. But, if this portion remains unmatched when the
event starts, his Stake that is unmatched will be returned.
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