Betting Tips Article # 1

Betting Using A Betting Exchange

Some of the best betting advice you will see throughout the media mentions the use of betting exchanges. Those new to horse racing may initially wonder what exactly a betting exchange actually is? This article will describe what a betting exchange is and how it works so that those new to betting on horses will be able to more easily follow racing tips and betting tips that are provided for them.

Betting exchanges are all over the internet and offer the public a chance to bet against other people, rather than a bookmaker. Essentially the ability to bet on a betting exchange is called “person to person betting.” This actually cuts out the traditional bookmaker completely. In this way, using a betting exchange, you not only can bet on a specific horse to win, but you can also do what is called “laying” a horse if you think that a horse is going to lose.

Some of the significant advantages of using betting exchanges include:

There are some punters who actually will bet exclusively with Betting Exchanges because they feel that the advantages above far surpass any advantages to going through a traditional bookmaker. I tend to use them based upon price, if they are offering a better price, I will use them, if not then I'll use a traditional bookie.

Exchanges are very simple and its very easy to place a bet or a lay. You simply select your desired horse race, (or actually any event) and then view a list of prices that are currently available from other punters. You can view all of the available prices where you have an option to back a horse or where you can lay a horse. It is clear when viewing the exchange what the current best price currently is.

If you find a price that you like, you can click on the price and then enter your own amount to bet or lay. The amount that you stand to win (or lose) is automatically calculated and displayed. You confirm your bet and submit!

Another tremendous benefit of using a betting exchange is that if you decide that there is no good price, you are able to post a price of your own and see if anyone else will “match” you. In other words, if you see a horse with odds of 3/1, and you would only back the horse at 7/2, you can add your own bid for such a bet to the exchange. Since you’ve placed the bet, that money is available for someone else to lay against your bet.

There is nothing quite as impressive as seeing a community-based system like this succeed. Removing the middleman of bookmakers has made the Betting Exchange option a glowing success. To see such a system in action, have a look at two of the most popular exchanges – including Betfair and BETDAQ.

Article Author: Cliff Thurston

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