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Betting Exchanges have revolutionised the UK gambling industry by
providing
better odds,
an increased range
of markets
early prices
the ability to back or lay, and
some great bet management tools
The only drawback with them is that, as you
might expect given the extra functionality they offer, they are a bit
different to normal bookies, so it may take you an hour or so to
understand how they work. Its time well invested however, as
no-one who has started using a betting exchange has ever regretted it.
We've been using betting exchanges, especially
BetFair, for a few years now.
BetFair was the first betting exchange to really hit the scene and because of this
generally has a higher number of users (meaning usually better odds on
offer), as well as a well thought out site with some great betting
tools. While there are definitely reasons to join the other
exchanges such as BetDaq
so you have more odds choice etc, we recommend BetFair as the
best one to start with.
So how do betting exchanges work?
Betting Exchanges work by matching the bets of punters directly thereby
eliminating the bookmaker from the arrangement entirely. While they do
take a small commission from winning bets this is a much lower cut than
his normally taken by the bookmakers. Hence often this leads towards
being considerably better.
Betting Exchanges give you so many options in addition to the great odds
that this makes them a bit more complicated than normal bookies.
The following guide is broken down into sections that start with just
the basics of making a bet in much the same way as with a bookie (just
probably at better odds) and take you through to some of the more
advanced things you can do like laying to lose and closing bets.
If you are bit unsure about this then take a look at Stage 1 which is
pretty simple, and then move on to other areas later if you feel you
need them
Next: Betting Exchange
Basics
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