Betting without intermediaries – the possible future of the betting business
Imagine sports bets in which you control the amount of the loss, play with odds 20% higher than the average, and you get almost all of the winnings from this, absolutely excluding the bookmaker’s margin – all these are sports betting exchanges and it sounds too good to be true .
But this is already a well-functioning, and proven system. Betting exchanges are predicting potential leadership in the betting market. The very idea of excluding intermediaries between players sounds so tempting that one can only wonder why this has not happened today.
The specifics of sports betting exchanges
As a rule, rather experienced players are sitting on betting exchanges, while for beginners it is quite difficult to enter this system. Yes, there are certain difficulties in the system of such bets, which, however, are studied in a few days:
- Experienced players play here, you’ll most likely not find “fools”
- It’s quite difficult to constantly find an opponent – you have to dump and bet less
- Limiting the amount of the bet makes the sports betting exchange unprofitable for those who play “big”
Sports Exchange Benefits
The betting exchange is a system in which players make bets between themselves. One player creates odds and indicates an event that, in his opinion, is the least likely (against). A participant who accepts such a bet can either agree to the odds, or request another, while betting on the most likely event. Thus, players are divided into those who create the line (sells a bet, i.e., in fact, are a bookmaker), and those who accept it (buy a bet, i.e., are a bettor).
As mentioned above, the main advantage of sports betting through exchanges is the ability to create odds. Despite the fact that sellers have to overstate the odds to lure players, they themselves control the bet and its amount. Well, there is no need to talk about the benefits of the “buyer” here.
In addition, there are no intermediaries in the betting exchange, that is, bookmakers. Without margin, the winning amount is much higher, and even the commission of services (from 2% to 5%) does not hit the final result much.
The most popular betting provider of this type is Betfair, which, in fact, has developed a new direction in the bookmaker business to an impressive and legitimate scale. Less popular are betdaq and WBX.