Online Betting Exchanges
Online betting exchanges are an attractive new development in risk markets which has turned long-established UK bookies and the gambling industry on its head.
Online betting exchanges are gaining credibility and influence all the time and with each month that passes seemingly another country legalises the complete, and it would seem that it is only a matter of time before the big exchanges are completely legalised and accepted worldwide.
Another great facet of gambling at betting exchanges like Betfair is that if you do not like a price you can post a price of your own on the and then see if anyone one else is ready to 'match' you and thereby take your bet on - essentially betting against other punters.
Put very simply, betting exchanges are a secure place where members of the betting public can exchange bets with each other incognito, at odds that they specify themselves.
It seems that as betting exchanges are the way of the future, many companies have jumped on the band-wagon and have started new betting exchanges.
Betting Exchange Odds
The odds offered by betting exchanges are about twenty percent higher on average than those offered by normal bookies - check out the odds offered at Betfair Exchange for example.
When you compare odds at betting exchanges to those at bookies, you should take the commission into account as you do not pay commission at online bookies.
There will still be the odd time when high street betting shops will offer more attractive odds than those that are available on the exchanges but it's quite rare.
The odds you offer obviously need to be sensible in order to be matched, but if you are not satisfied with the current price being requested by other punters you can simply place an 'order' in the exchange at your odds and hope that somebody eventually accepts your offer.
High street betting shops don't normally offer free bets, in fact most betting offers can only be claimed online and it's here where you'll usually find the best promotions.
The attractiveness of using online betting exchanges is there is no bookie, which means there is no edge built into the odds, which often results in significantly better value prices.
Professionals work on thin margins, there are some that enjoy higher margins but they are the few, generally speaking most professionals work to small margins and so a 20% boost in odds despite the commission which can be as high as 5% is a massive boon.
Betfair and BetDAQ are the dominant players in the betting exchange market, with Betfair currently owning an estimated +85% market share by value.
Betfair's Exchange boasts a high degree of liquidity, across a wide variety of sports betting markets, alongside a professional customer service operation and a fully incorporated phone and internet betting service.
Unlike well established online bookies, Betfair has no vested interest in the outcome of an event and therefore their interests are 100% in line with those who oversee sport.
In-running (betting while a event is being played) is one of the features that really makes betting exchanges like Betfair come alive. The phenomenal success enjoyed by Betfair and others in the last eighteen months is testament to the appeal of the product to the betting public.
Betting at Betting Exchanges
Sports betting is concerned with predicting sports results, while using the conclusion of a particular sporting event to make or break your bet.
Horse race betting and football betting are the largest volume markets but tennis, cricket and other popular sports also contribute a significant amount as well.
As sports bettors become more informed shoppers, an increasing number of players will migrate to the betting exchanges. For sports betting there are over 50 different sports on the exchanges covering events from 122 different countries.
Trading On Betting Exchanges
Trading is like any other profession, it takes time to learn and there are hurdles to overcome.
And as financial exchanges have proven to be capable mechanisms for trading shares and other kinds of securities, so have betting exchanges proven successful in the world of online betting.
The numbers of people betting from home at online bookies continues to grow at a rapid pace and one of the biggest areas of growth in the UK is online trading.
Betting exchanges are great for dealing with in-running events, where using trading techniques similar to those used in the city, or by punters spread betting, you can lock in a guaranteed profit before the end of an event, match or the thing you're betting on.
Frequently Asked Questions About Free Bets
Before you go ahead and claim your first free bet offer, here are quick answers to some of the most common questions that we regularly get asked:
- What Are Free Bets?
Free bets are a type of betting offer that bookies use to both attract new customers, and to reward loyalty. They let you place a bet for free, without using any of your own money. - Are Free Bets Really Free?
Free bets are real credit that a bookie adds to your account, but can they really be called 'free'? We explain how they work, the catches to look out for, and what 'free' really means. - How Do Free Bets Work?
A free bet is promotional credit added to your account by a bookie. They allow you to place a bet without risking your own funds. If it wins, you receive the profit but not the stake. - What Are Risk Free Bets?
Risk free bets are offers that bookies use to encourage betting engagement. With a risk free bet, you bet using your own money, and it's refunded as credit on your account if it loses. - Do You Get Your Stake Back on Free Bets?
No, unfortunately you don't get your stake back on free bets. Most bookies offer them under "Stake Not Returned" rules, so if they win you get the profit, but not the stake back. - What Does Money Back as a Free Bet Mean?
Money back as a free bet is a type of betting promotion. If a bet loses and meets the criteria set out in the offers terms and conditions, you get your stake back in free bets. - Can I Cash Out a Free Bet?
Yes, some bookies do allow you to cash out free bets, but it's not common. You'll need to check the offer's terms and conditions to know whether you can use cash out or not. - Are Free Bets Worth It?
Yes, free bets are worth It - if you know how to use them. Read our expert analysis about free bet conversion rates, and the best strategies to maximise their value.
Now that you have a feel for how these promotions work, why not compare the free bets that bookies are currently offering, and find a deal that suits your betting needs.
Responsible Gambling: Free bets should enhance your enjoyment of betting, not create problems. Make sure that you only bet what you can afford to lose. If you're worried about your gambling habits, free and confidential support is available at GambleAware.org.
