Since BetFair popularized betting exchanges, many other exchanges have arrived on the scene seeking to share in BetFair s success. Further, since BetFair has attracted the participation of many professional punters including traditional bookmakers the competition for back bets has become intense. This has convinced many lay bettors to move on to other exchanges where the competition for favorable odds is less intense. Today there are a number of betting exchanges available, but when choosing a betting exchange there are many factors one should take into account.
The key to a successful betting exchange, and the individual s success on an exchange, is the amount of action, or the number of participants. All exchanges work on the basis of matching a lay bettor (one laying a bet that a team will lose) with back bettor (one backing a team to win); therefore, the more participants in an exchange, the more likely one is to have his bet matched. If there is no matching bet, there is no bet. Despite the fact that there are now hundreds of betting exchanges available, in order to be successful the punter has to operate in an exchange with a lot of action or many participants. A bit of research looking for both the number of participants and the amount of liquidity online should help reveal the action level of any particular exchange.
Another factor to keep in mind is choosing an exchange with a lot of action on the correct sports. Although most exchanges allow betting on a range of sports, many exchanges have become popular with punters seeking to bet on particular sports. For example, some exchanges have more action on European or World Cup soccer betting while others emphasize English football. Assuming the punter has a preferred league, finding the exchanges with the most action for that league is very important. This information can frequently be found by looking at online forums focused on your desired sport.
Certain exchanges also emphasize specific national markets and this can make a difference, especially when betting terminology differs. For example, in Australia where some of the terminology differs, or in Germany where the core language is different, focusing on an exchange that caters to the home market can help prevent misunderstandings and bad bets. A punter can often locate exchanges that cater to his national market by looking at online forums focused on that national gaming market.
Another key consideration to take into account is the exchange s commission policy. All of the leading exchanges make their money by charging a commission on winnings, and since a wager only comes about once a lay bettor and a back bettor are matched, there is always a winner or a loser for each bet. Knowing the commissions charged by the exchange is a vital part of making profit and responsible bets. Most, but not all, exchanges have some manner of sliding scale for their commissions based upon the amount of activity; the more activity and money in the punter s account, the less the commission. However, this is not true of all exchanges. It is extremely important to review an exchange s commission policy before joining and depositing money.
The above are just a few of the key things that the smart punter should look at before joining an exchange. There are, of course, many other factors that can be taken into consideration, but the ones cited above are by far the most crucial. Choosing the right exchange can make or break betting fortunes, so doing some research beforehand is certainly worth the effort.
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