What Are Betting Exchanges all about?

This blog is the result of an email from RE of Littleborough. He asked me to expand on 'Betting Exchanges'.....

 

Traditionally, betting on the horses has been done on course - a transaction between punter and bookmaker - or with registered bookies. In the old days, before mobiles or the internet, it was still possible to place bets remotely, using illegal 'bookies runners' - taking bets scribbled on the back of fag packets and running to the officially registered bookie.

Now there's a wealth of different approaches, including on-line betting.

 

Betting Exchanges, though, are something else. They're an on-line service where people can bet against each other, rather than against a bookie. Some will 'back' a horse to win, others will 'lay' a horse to lose.

 

 

What are the advantages?

• The ease of placing bets on-line
• First, it offers more opportunities to win (backing a horse to lose)
• Increased eanings. It cuts out the bookie, who typically takes 20%, so returns can be higher
• Wins/losses are reported immediately. This is real-time gambling
• The fun of 'being a bookie', betting against different online punters. In fact Bookmakers use the exchanges to cover their own risks.
• By backing at one price and laying the same horse at another, it is possible to virtually guarantee a return. This is known as Arbitrage.
• Better odds. Online punters have the option of not taking initial offers on their bets, asking for better odds.
• Not being banned. Bookmakers often effectively ban a punter who keeps winning (don't I know it!). This doesn't apply to exchanges.

 

What are the disadvantages?

You are really entering the world of professional gambling, so novice beware. My advice? Use the HorseracingPro Arbitrage service and get the best of all worlds - a high degree of safety, with the possibility of 'locked in' profits, all with an insider's knowledge.

 

Remember, successful betting is all about understanding both the odds and using 'value' as the guiding principle.