Exchange betting is another relatively new development in the world of sports gambling that has grown in popularity in recent years. A lot of people choose to use betting exchanges for most of their wagers these days, and some do all their wagering this way ufabet.
The wagers you can place at an exchange are essentially the same as in traditional sports betting. The odds are fixed at the time of placing your wager too, but there is one major difference in the way exchanges work.
There is no bookmaker involved.
That’s right, exchange betting doesn’t require the services of a bookmaker. Instead, all wagers are placed between bettors. So every time you place a wager, you’re basically gambling with other people who are taking the opposite position as you.
Let’s use an example to clarify how this works. If you were looking to place a wager on an upcoming tennis match between Joao Sousa and David Ferrer, then the exchange market found below is what you could expect to find.
At a normal betting site, there would only be one set of odds for each of the two players. But, as you can see, here we have TWO sets of odds for each player. Look carefully and you’ll notice that one set is labelled “back” and the other is labelled “lay.”
These odds represent wagers that other people have already proposed. If you chose to back Ferrer at 1.38, you’d effectively be making a wager with someone who had chosen to lay Ferrer at those odds. That person would be backing AGAINST Ferrer winning. Instead of simply backing Sousa to win, they’ve decided to lay Ferrer.