Horse Race Betting: Betting Exchange
Posted on 14. Sep, 2011 by admin in Online Betting
If you think betting on your favorite horses is fun already, wait till you learn more about betting exchange. Since a couple of years ago, several top betting sites are offering betting exchange and entirely new betting opportunities. What is betting exchange actually and how can horse racing punters benefit from the opportunity? We are going to answer those questions in this article.
Betting exchange is highly similar to conventional online betting, with a slight difference in mechanism and benefits. You can now bet on horses as well as lay against them. The process is also very straightforward; you simply place bids and wait for other punters to call the bid.
If you want to bet on a certain horse, for example, betting directly using the online bookmaker’s betting platform means you get odds of 4. You can actually bid 4.5 on the betting exchange and wait for other punters to lay your bet. If the bid is called, you get 4.5 odds on your bet.
You can also assume the role of sports bookmaker and lay bets. If you think a horse has no chance of winning, you can lay bets against the horse. You get to set your own odds and place your bid. Other punters wanting to bet on the horse will then call your bid and wager their money. If the horse loses, you get the bet placed by other punters deposited right away to your betting account. If the horse wins, on the other hand, you will have to pay out according to the odds you set earlier.