Everything about bet exchange explained – learn what it is and how to use it at different sportsbook sites. Try to bet on sports or other events using a new knowledge as swapping odds allows you to expand your wagering options and possible income.
Betting on sports, politics, or entertainment is not just about choosing the most possible winner and wagering money on it. Most online sportsbooks in Germany offer various types of bets – from standard single to bet exchanges. All of them carry different risk levels and possible winnings. What is a betting exchange and why is it worth trying? Let’s see.
What is a betting exchange?
Before you have everything about the bet exchange explained, a definition of this term is required. Bet (betting) exchange is a possibility for sportsbook users to wager against each other, not bookmakers. It allows people to offer or ask for odds from others using the same sportsbook and wagering on the same event.
In other words, a betting exchange literally means the exchange of odds by two or more users. Bookmakers have nothing to do with it. They only provide a platform (site) for sharing odds and take a small commission for it. The rest belongs to bettors – they pick an event at 1xBET, choose the bet exchange option, and join the existing odds or request their own.
Benefits of using
A betting exchange is good for bookmakers as it carries no risk for them. However, it is not unprofitable for users too. Basically, they place the same bets as usual without taking any additional risk. The only difference is playing against other bettors, not a sportsbook itself. Two advantages of using this wagering option arise at this point.
Firstly, users are likely to diminish odds, so they are not much affected in the case of losing a bet. Also, bookmakers do not usually offer the best winning odds in order to make money, while users are truly interested in outcomes.
Usage of online bet exchange explained
Once you have the definition and advantage of bet exchange explained, let’s see how and where you can try it. First, we will explain how you should place a bet in a corresponding section at most online gambling sites in Germany.
To start exchanging your wagers, look for the corresponding section in a sportsbook menu. You will see a table of existing bets from users you can join or create your own. To wager, choose an event and remember about one thing:
- Each bet includes two opposite outcomes that are possible: backing the selection to win or lose. It means that to win $100 on e.g. horse racing you have to place a $10 bet on 10/1 and have a bet from the opponent no less than $100 at 1/10.
1xBET Sportsbook is the best online site offering betting exchanges for its users. You can find the necessary option in a Sports section and compete with others in making odds of various events. They include football matches in Bundesliga, the English Premier League, La Liga, with tennis & boxing in addition.