BETTING EXCHANGES - YOU GOTTA KNOW WHAT YOU ARE DOING !!
QUICKLY COMPARE THE BEST BETTING EXCHANGES
Betting Exchanges are sites where you can offer your own odds to other people. You can also accept the odds offered by others. Betting Exchanges comprise of a range of different betting markets (eg football, NFL, ice hockey, etc.).
No bookies are involved - the odds are offered by other punters just like you and the Exchange takes a fee (commission) for facilitating the deal. A straight win single bet is called a “back” bet. You can also place “lay” bets betting that an outcome won't happen… and you can often bet while a game is in play. Betting Exchanges use a decimal odds system as they are easier to compare (so a few conversions for you UK and US punters!) - and you can get great odds if you know what you're doing, but not always! In general however, Betting Exchanges are fairly complex - and not for novices as you really need to do your homework.
Here's a quick comparison of the TOP 2 SPORTS BETTING EXCHANGES I recommend (as at early August 2010) and their key features so you can make quck decisions on which ones to bet with.
We have also reviewed and vetted around 20 other exchanges. For example, Mansion Exchange, Sporting Index, MyBet, Intrade, E-Horse, Trade Sports, BETDAQ, BetandGame, BackandLay and TradeBetX were all put through our standard 3 month betting trial - and all of them were rejected.
The most common reason was simply that these other betting exchanges do not have the volume or liquidity to enable you to get a good sized bet on at competitive prices for most of the markets. Quite frankly - these sites did not justify the commissions that they were charging.
So at the present time we recommend using one (or BOTH) of the following exchanges only. We will continue to monitor the betting exchange market in future months.
We highly recommend this book to get you started - invest a 'tenner' up front - it may save you money and will help you maximise your betting exchange profits.
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FACT SHEETS ON THE 2 TOP BETTING EXCHANGES
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GoonersGuide.com - over 74 million pages read
EXCHANGE: Est 2000 & UK licenced, Betsson™is part of the successful & rapidly growing Swedish Stock Market listed Betsson Group.
Betsson offers betting exchange services in addition to a conventional sports bookmaker bets. (Plus Casino & Poker)
COMMISSION: Betsson deducts commission at a rate of four (4) per cent or lower calculated on your net winnings on any single Market when backing, laying or selling. In the event that you lose a bet no commission is deducted. SPORTS COVERAGE: Betsson's European football betting coverage is the best we've seen (if you want to bet on a Division 2 Polish side - Betsson is the betting exchange for you!)
TRAFFIC: A very good range of betting opportunities across most markets daily. Good traffic especially for European football coverage. Betsson has on average considerably less traffic and liquidity in it's markets***
MIN/MAX BETS: At Betsson Betting Exchange the minimum stake in a bet is generally 3 & bets can't exceed 5000. SPECIAL FEATURES: Amazingly deep football betting coverage. Sportsbook & exchange through one account so you can also use standard 'bookie' services.
ODDS / PRICES: As with all betting exchanges Betsson can save you money on standard bookie odds. You need to do your homework however to maximise your profits.
PAYMENT OPTIONS: Credit cards: Visa, Eurocard & Mastercard. Debit cards: Solo & Switch plus Moneybookers, NETeller & Bank Wire
CURRENCIES: 7 accepted, more available soon. GBP, USD, EUR, DKK, SEK, NOK, TRY PAYOUTS: Very efficient and quick - like a growing number of bookies Betsson won't pay back to credit cards due to issuer restrictions.
EXCHANGE:BetFair™ is the World's largest Betting Exchange. Established in 1999 the UK licenced and based BetFair is owned by The Sporting Exchange Ltd.
BetFair is a specialist Betting Exchange (it's extended recently to online poker & casino) & mobile exchange too.
COMMISSION: Betfair charges a Commission on your net winnings on a market. 5% is usual with discounts applying for frequent punters (up to 60% discount - ie a minimum commission rate of 3%) SPORTS COVERAGE: BetFair's betting coverage is very good. It is global (ie includes NFL, NBA, etc even though they do not accept USA members) Coverage is not as deep as Betsson for lower division football bets. (Note: BetFair will extend to a new market if there is sufficient demand - contact them!)
TRAFFIC: The world's most extensive Betting Exchange witha huge range of daily betting opportunities. Betfair has on average 8-10 times the volume and liquidity of Betsson Exchange on any betting market***.
MIN/MAX BETS: The minimum stake at BetFair is £2. The minimum deposit is £25. SPECIAL FEATURES: 'Where is the Money" feature to show betting options available & what's been matched. "Maximum Exposure" you can assign your Account a risk limit and manage your bets to this limit.
ODDS / PRICES: Claims to offer 'up to 20% better odds'. (Our analysis suggests 2-3% better for football bets before commission). Do your homework!
PAYMENT OPTIONS: Credit cards: Visa, Mastercard. Debit cards: Visa Electron, Solo, Visa Delta, Maestro, Laser (Ireland), Switch. PayPal (UK only), Neteller, Moneybookers, BT Click&Buy, MoneyTT, MoneyWorld, 8-Pay, Western Union, Bank Transfers, Personal Cheques. CURRENCIES: 10 accepted
GBP, USD, EUR, HKD, AUD, CAD, DKK, SEK, NOK, SGD PAYOUTS: OK - security checks can take a while for 1st withdrawals and cash out even back to same card as deposited takes 2-5 days. .
BONUS:A £25 Free bet if you join via the links in GoonersGuide.com
SPECIFIC RESTRICTIONS: No USA Residents
can be BetFair members.
*** if you're betting with big stakes or trading frequently during a game, the availability of "volume and liquidity" in a given market is critical to you being able to place and lay the required number of bets at the required prices for profitable football betting. We recommend BetFair for major betting exchange users. Betsson Exchange is growing all the time and is a great alternative for placing bets at great prices before kick off.