What is an odds exchange?
In the market, there is odds exchange in various forms from several suppliers. These have competed with traditional sportsbook operators. The operators have gained competition and, with that, have thought about it. A number of them have started odds exchanges.
The difference is that the company that offers the solution for the game exchange does not take any risk in the game. They provide the solution and take care of the money until the game is finished. For that service, they also charge a small fee. It is called a commission, and it is only taken out for profit.
The game is also a little different when you have the choice to back or lay games. We’ll tell you more about that later.
Often the odds and opportunities are better on the betting market than on traditional betting sites, which is why they are also popular places to bet.
How do you place a bet on an odds exchange?
On the odds exchange, you can choose your roles. Either you can be the one who plays on already set games, or you can act as a bookmaker yourself – that is, create your games and offer them to other players. The possibilities here are endless.
The design of the games is similar to that of a betting site, but with some differences. The choices you can make when playing are to back or lay different games.
You are merely betting on something happening or not happening.
Back a game on the odds exchange
Say you think Milan will win the match against Juventus. You will not find any attractive odds on traditional betting sites, but on the odds exchange, you will find a bet that Milan will win and at exciting odds. If you bet €50 you can back the game, that is, you think the game will end as it is presented, that Milan wins.
If the outcome is correct, you will receive your payment against the odds, minus the commission.
So here you bet that it will happen.
Lay a game on the odds exchange
In the same alternative with Milan and Juventus, you can lay the game instead. That means that you do not think that Milan will win the match. Then you place your bet that it doesn’t happen, you say you lay the game.
Interpret what displays on the odds exchange screen
When you look at what presents on a odds exchange, you will be met by various matches and odds and squares that show the odds of back or lay a game. Usually, the amount called liquidity for that odds is in the same box. That’s how much money is available to play at that particular odds.
The numbers change all the time as other players place their bets.
You see if the games are matched or not. White squares are unmatched odds waiting to be matched.
Here’s how to place an odds on a odds exchange
When you place an odds on the odds exchange, keep an eye on the boxes that are coloured. There are already matched games that you can play directly. Do you want to back or lay? Choose the choice that you feel is right for your bet. Most often, your bet is matched instantly and placed, but things can happen quickly on the odds exchange, and conditions change rapidly.
Exposure on the odds exchange
Keep in mind that you can get a great exposure if you do not control how you set your odds. Exposure is the amount you risk if, for example, a lay bet does not enter.
If you book a match for the odds of 5.0 and with the amount of €10, your exposure is €50 if the game does not go as you intended—a significant risk against winning €10. Here you have to be careful to make sure that what you put is right. When you lay you do not often go over 2.0.
Find out what applies to the odds exchange you intend to play. Many do not allow to place lay bets on more exposure than what is in the gaming account. However, it is essential to keep an eye on this as it can be expensive mistakes.
Cash Out on the odds exchange
Cash Out is an attractive feature and is also available on odds exchange in the markets where this feature is available. The feature means that during a game, you can make cash out in case you want to collect a profit or if you want to minimize a loss.
You can also place multiple bets on the odds exchange, and it works much like a regular betting site. You choose which games you want to play and see them together on your slip. Depending on the solution, it may work a bit differently, but basically, it works the same way. You put together several attractive bets on a slip.
Set your own odds and create games
On the odds exchange, it is the players’ own game that is the whole market. The solution provider is just an intermediary between you and other players.
Sometimes some odds may not be attractive enough, or that you know more about the game than you think others know and you have a good sense of what’s going to happen.
Then you can create your own game with the odds that you find attractive for that particular match. When it comes to the market, just wait for another player to think the opposite and match your game—an exciting feature for creating attractive games in the market with good odds that can give good payouts.
The same rules do not apply on odds exchanges as on regular betting sites, and this means that there are also other opportunities for betting, which may not otherwise be allowed. Here, for example, you can bet on small odds changes for short periods. It is a solution where you place bets on both sides of a game. Then just wait for it to match.
Once that is done, you are guaranteed a win. You win on the difference in odds regardless of the outcome of the match. With software for this technique, you can easily bet on many events and make sure you take home the difference in odds.
The odds exchange is exciting, and the market is continuously growing as more and more players discover the benefits. With features like creating your games, increasing the odds and taking advantage of high flexibility, it is an exciting place for perfect betting.
We are sure that this type of odds exchange will increase its potential and gain an even more prominent place in the market.