What Is A Betting Exchange And How They Work?
Lots of people who are looking to get involved into matched betting hasn’t got clear the difference between traditional bookmakers like Coral, William Hill, Paddy Power and betting exchanges like Betfair.
Even if on the surface betting exchanges do offer similar betting opportunities like traditional bookie, there are several key differences.
Betting exchanges make money in a completely different way than bookmakers. Bookmakers are allowing players to place a bet on any outcome and they then cover with their own money if the customer do win. Betting exchanges do not lay the bet themselves but they let customers to back and lay themselves with each other. Betting exchanges make profit by charging a small commission fee on every wager that is place. The fee is a percentage on the winning amount and it is charged only to the winner of the bet.