Betting Exchanges

Betting Exchanges have been very much to the fore recently. Many people think that they are fast changing the way that we bet and there are predictions that the betting exchanges will continue to grow rapidly and that more and more people will use betting exchanges as their preferred method of betting.

What is a Betting Exchange?

Betting exchanges have sprung up on the Internet and offer you the chance to bet against other people, hence betting on a betting exchange is often called person to person betting. Therefore they cut out the traditional bookmaker altogether. One of the biggest attractions of a betting exchange is that not only can you back a greyhound to win, but you can also lay it if you think it is going to lose. Other really big advantages of betting exchanges are that you can:

Suggest your own price.
Prices are available on races from the night before (ante post is also available).
Best of all the odds normally are better than those available from a traditional bookmaker.
You can place a bet or lay once the race or event has started.

I am an avid fan of betting exchanges and with the odds in your favour it is now very rare for me to place a bet with a traditional bookmaker. How times have changed!

How a Betting Exchange Works.

The exchanges are quite straightforward and it easy to place a bet or a lay on them. All you need to do is select a greyhound race or indeed another event and a list of prices that are currently available will be displayed. On the left hand side are prices where you can back a greyhound and on the right hand side will be prices at which you can lay a greyhound. The exchange will always make clear what the best price currently available is.

If you like any of the prices on display you can simply click on the price available. You will then be taken to a screen where you can enter the amount that you wish to bet or lay. The amount that you can win or lose is calculated and displayed and then you are asked to confirm your bet.

Another great feature of a betting exchange is that if you don't like a price you can post a price of your own on the exchange and then see if anyone one else is prepared to "match" you and thereby take your bet on. For example if you see a greyhound that currently has odds of 4 (the equivalent of 3/1) and you would only be prepared to back the greyhound at 4.5 (7/2) then you can add your bid for a bet to the exchange. This will then be displayed as money available for someone else to lay at 4.5.

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