When Betfair, the first online betting exchange, was launched in 2000, it changed the way people bet on sports online. Since then, there have been more betting exchanges, such as Betdaq, which is Betfair’s main rival.

Many people have already left the bookmakers behind and switched to online betting at Betfair or Betdaq, but others have not yet made the switch. The main reason for this is a lack of understanding about what the benefits actually are and how they benefit the users.

Here I will explain four major advantages that the betting exchanges have over the bookmakers.

Get better chances…

Before the exchanges came, gamblers were forced to accept the prizes offered by the bookmakers. As you may know, bookmaker prices have built-in profit margins known as the over-round. With the bet exchange, if you don’t like the price offered, you have the option to request a better one. The odds you can get on the exchanges are on average about 20% better than the bookmakers.

resisting an outcome…

When you bet with a bookmaker, you bet that an outcomewillhappen, and the bookmaker is betting that itwo  n’t. This is fine if you’re betting on something like the winner of a tennis match, as there are only two possible outcomes, but what if you’re betting on who will win an entire tennis tournament?

If I wanted to bet that Roger Federer wouldn’t win Wimbledon, then at the bookmaker I would have to support every other player in the tournament! The bets make it possible to bet that something will not happen; all I need is a lender somewhere else in the world who thinks so. Betting that something won’t happen is called making a bet.

Betting in Play

No longer do you have to support a horse or football team for the event and keep your fingers crossed—with Betfair or Betdaq, you can now bet during the event until the horse crosses the finish line or the full-time whistle is blown.

freedom to succeed…

Bookmakers will limit the stakes or, in extreme cases, close the accounts of individuals who they believe are winning too much money. The bets don’t matter how much you win; in fact, winning is encouraged. This is because it is not their money that you win—all the money comes from other users. The exchange makes its commission regardless of who wins, so there will be no penalty for your success.

As you can see, the betting exchanges have several advantages that online bookmakers simply cannot offer due to their very nature.

There is a small learning curve in using the exchanges for those who are used to using bookmakers or those who have never bet before. However, both Betfair and Betdaq offer tutorials to help new users get used to using their websites. After a few visits, the majority of users become attuned to the differences, and using the exchanges becomes second nature.

Anyone interested in sports betting who has not yet tried Betfair or Betdaq can also take advantage of a promotional offer when opening a new account. This is available in addition to the other benefits already described. Therefore, the exchanges are definitely worth checking out for all fans of online betting.

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