You are always going to be faced with something of a battle when you want to place a sport bet online or via a mobile phone regarding getting the best odds and money lines available, for there are thousands of betting sites and betting apps you can choose to use.
Comparing the odds being offered to you at a range of sports betting sites is something you should always be prepared to do when you are demanding the best odds and money liens available, but there is no escaping the fact that can be a very time-consuming thing to do.
Not only are you going to have to spend a lot of time looking up the sporting event you wish to place a bet on at different betting sites but when you do find the best odds available, you will then have to spend quite some time signing up to any betting sites offering you the best odds if you have never placed a bet at those sites before.
You will also then waste quite some time getting your betting accounts fully verified at such a sportsbook and may also be faced with only having a small number of different payment options available to you at any new sports betting site or betting app you do end up becoming a member of.
Time is something not many sports bettors must waste, and as such if you are a value hunter then if you do not yet have an account at a betting exchange, then believe me it is about time you did so!
How do Betting Exchanges Work?
The one confusing aspects of using a betting change that you will need to get your head around when you first set about using them, is that they are peer to per betting platforms, which means you are not betting against a bookmaker, instead you are placing bets and wagers amongst other users of that platform.
So that do of course mean as the user of such a site, you have the option of picking any type of sporting event to place a bet on, and when you do so you will see a range of different betting odds being offered, and you will of course want to select the best valued ones when placing a bet.
However, you do then get the additional benefit of being able to offer your own odds on any sporting events outcome that you wish o lay odds on as opposed to simply taking odds like you would do when using a standard betting site.
So for example if you are convinced for example that a football team is going to lose their next match you can offer your own odds on that team, and if another customer of a betting site wishes to place a bet on that team they can do so, and if their bet loses you keep their stake but if that team wins you must pay them out their winnings at the odds you offered.
Commission Charged by Betting Exchanges
The way in which a betting change will make its income is by charging a small commission to users of their platforms, however it is only winning customers that must pay those low commissions.
So, if you have chosen a sporting event to bet on and your bet is a winning one then you pay a small house commission out of those winnings, however if you chose to lay a bet and the bet or bets you lay are winning ones then out of the stake you get to keep of other users bets a small house commission is paid on those stakes.
What you will also find is that many betting exchanges will have a sliding scale regarding he commission they charge, so if you do lay or place high volumes bets and wagers the amount you will pay in commission for your winning and profit will drop down.
The obvious attraction of using a betting change is that you are not betting against a bookmaker, who is always going to have a built in profit on all of their betting markets, and there will of course be times that when using a betting exchange you can guarantee a winning profit by hedging bets you placed or laid earlier in he day as the odds are always going to be fluid and moving around.
There are a number of different betting exchanges you can make use of but consider using one of the major ones as they will have a huge number of users using them, which means there is always lot of fluidity and cash sloshing around them!