When Betfair, the first internet-based betting exchange, went live in 2000, it revolutionized how people place bets on sports online. Since then, additional betting exchanges have come into existence, including Betfair’s primary competitor, Betdaq.
Many have already abandoned bookmakers and opted to bet online with Betfair or Betdaq, but others haven’t made the switch. The most important reason is the lack of knowledge about betting exchanges and what they offer the players.
In this article, I will discuss the advantages that betting exchanges offer over bookmakers.
Improve your chance to win. Before exchanges were introduced and punters were compelled to pay for the services that the bookmakers were willing to offer, as you might have guessed that bookmakers’ prices come with built-in profit margins, also known as the over-around. When you use the betting exchange, you can ask for a higher price if you are not satisfied with the rate offered. The odds that you can find from discussions are generally 20% higher than the odds offered by bookmakers. Choose the best bookmaker in Tanzania for high winning rates.
Affirm a result. If you place a bet with a bookmaker, you are betting on the possibility that the outcome is likely to occur, and the bookmaker bets it will not happen. This is fine when you are betting on something similar to the tennis winner match, as there are only two outcomes that could occur, But what happens if you are betting on the winner of the entire tennis event?
If I wanted to place a bet to bet that Roger Federer would not win Wimbledon by using the bookmaker, I’d need to bet on every player who is playing simultaneously! Betting exchanges let me bet on the likelihood that something will not occur. All I need is a backing partner elsewhere around the globe who believes that it will happen. The betting on the possibility that something won’t happen is known as laying the bet.
Bet in-Play.
There is no need to place a bet on a horse or a football team before the event, and hold your fingers crossed with Betfair or Bet22; it is now possible to bet on the event till the time that the horse finishes its race or until the full-time whistle goes off.
Freedom to be successful.
Bookmakers can limit stakes or, in extreme circumstances, close accounts of people who they believe are losing too much money. The betting exchanges do not care what amount you win. Winning is promoted. This is because it’s not their money that you are winning, as all the money comes directly from users. The exchange pays its commission on winnings, and there are no penalties for winning.
Betting exchanges offer a variety of benefits that online bookmakers, due to the nature of their business, cannot provide.
There is a slight curve when using the exchanges for people who have a history of using bookmakers or have never played any games. After several visits, most users will become aware of their differences, and the exchanges become second nature. But each of Betfair and Betdaq provides tutorials to help new customers get familiar with their sites.
Anyone looking to bet on sports betting and who hasn’t had the chance to try Betfair or Betdaq may also avail of a special deal when creating an account. This offer is available alongside the other benefits previously mentioned. Thus these exchanges are worth checking out for any online gambler.