In the same way that traditional market stalls have given way to modern-day marketsplaces, betting exchanges have evolved from a somewhat obscure element of the sports betting scene to a completely transparent and legitimate way to gamble with online sportsbooks.
Created as the “anti-match fixing” mechanism for sportsbooks, betting exchanges are open to all comers and operate with great fairness.
How Do They Work?
At their most basic level, betting exchanges are simply a way for sportsbooks to offset some of the risk associated with running an online operation. By laying off a small percentage of their profits in the form of “free” bets, online sportsbooks can keep the majority of their money and customers safe from the fluctuations that can plague traditional bookmakers. In turn, this allows the sportsbooks to offer much more attractive rates to customers.
In the case of the UK’s largest online sportsbook, 888Sport, this translates into lucrative annual revenue of £58 million ($80 million) and an incredible £10.5 million ($14 million) in profits annually.
The benefits of using a betting exchange are numerous. First off, there’s the safety of the exchange itself. Second, there’s the confidence that comes from knowing that your winnings are guaranteed. Third, there are the excellent customer support lines that are typically available 24/7. Fourth, above all else, is the convenience factor. Since betting exchanges operate online, placing bets and collecting winnings is as simple as tapping on a few keys or clicking a few buttons.
The Growth Of Betting Exchanges
In the light of the above, it’s hardly a great surprise that as the sports betting world has been transformed by the advent of technology and the internet, so too have the betting exchanges that serve them. Thanks to a modern-day convenience-focused society and the growth of mobile gaming, the need for a safe and easy way to place bets online has heightened.
Since their conception in the early 2010s, betting exchanges have established an excellent reputation for themselves as a reliable and safe way to bet online. This is, in part, down to the fact that they are regulated by the country’s governing body for sports betting, the Gambling Commission. What is more, all UK sportsbooks that are licensed to operate in the country must adhere to the law and the rules set by the commission. This makes sure that the integrity of the sport is never compromised by any form of match-fixing or betting fraud.
As a transparent and honest form of online gambling, betting exchanges have greatly reduced the chance of any form of match-fixing or betting fraud. This has enabled them to build a strong following amongst regular and new customers alike. The vast majority of UK sportsbooks now offer some form of partnership with betting exchanges to take the risk out of online gambling for their customers. Not only that, but UK and Irish punters regularly use betting exchanges to place bets on international sports events, making them a truly international brand.
Top 5 Examples Of Betting Markets For Traders
Traders in the forex market will find plenty to like about betting exchanges, especially since they typically offer CFDs (contracts for difference) allowing them to profit from the fluctuations in global currencies. Naturally, traders will want to closely watch the pound–dollar exchange rate and will look to profit from sterling’s performance against the greenback.
The odds offered by betting exchanges are also appealing to the savvy punter. Since they are set by the bookmakers themselves, they are inevitably much better than those offered by most sportsbooks. What’s more, many betting exchanges offer an excellent range of sports with odds usually tailored to suit the sportsbook’s customer base. This means that even non-gamblers can find plenty to wager on without risking their own money. This is especially beneficial for people who are bored of the same old football matches and want to try something new.
The popularity of eSports, or competitive gaming, in the UK and across Europe is further proof that people want to dabble in different forms of gambling. Thanks to the increasing popularity of video gaming in general, it’s becoming easier for people to place bets on the outcomes of video game competitions. Whether you’re a dedicated follower of eSports or a regular gamer who wants to make some extra cash, you can put your skills to good use on a betting exchange. Since eSports competitions are so new, there are frequently upsets and disappointments when it comes to the results of competitions. This makes it even more appealing to put your money where your mouth is. What’s more, since you’re not directly risking your own money, you have nothing to lose.
How Do I Bet On Sports?
If you’re new to the world of betting or simply want to place a bet on a sporting event that you’ve never tried your luck at before, the simplest and most direct route would be to contact a local bookmaker. A bookmaker will typically have an extensive range of sports available for betting, and many will offer a good rate of return for novice and experienced gamblers alike. What’s more, many sportsbooks will also place bets for you, offering excellent value and convenience. Given that odds are often much better on a betting exchange, it’s no surprise that many bookmakers have turned to them in search of a better rate.
As an alternative, you could try one of the many online bookmakers that offer sports betting. However, since the odds are likely to be better and more consistent on a betting exchange, it’s much more convenient to place a bet there yourself. In addition, online bookmakers typically have much narrower sports betting ranges than those offered by traditional bookmakers. So, if you want to place a bet on, say, Italian football or volleyball, it might be quite difficult to find a suitable online bookmaker. In this case, it’s much better to contact a local bookmaker and have them place the bet for you.
The Future Of Betting
With the world of sports and gaming changing so rapidly, it’s inevitable that betting exchanges will evolve with the times. Thanks to the rapidly changing nature of the online gambling industry, it’s extremely likely that we’ll see a complete overhaul of how sports betting and gaming work online. Not only that, but in the near future, we’ll see the emergence of smart, online gambling agencies that use machine learning and artificial intelligence to improve their odds and offer customers the best possible bets. What’s more, in the next few years, we’ll see the emergence of “live betting” where customers are able to place bets as the game is actually taking place. This is still in its infancy and is currently available largely in land-based sportsbooks, but it’s an excellent opportunity for sports betting fans who want to place a bet while the action is going on.
Live betting is still in its infancy, but it’s an excellent opportunity for sports fans who want to place a bet while the action is going on. In addition to this, a rapidly growing number of land-based casinos are also moving online, making it even easier for gamblers to place bets wherever and whenever they want.
The above examples highlight the many ways in which the sports betting world is evolving and changing, and with good reason. Not only has technology brought sports betting into the twenty first century, but it has also greatly enhanced the betting exchanges that serve sportsbooks, taking the risk out of online gambling and allowing bookmakers to provide better services to customers.