subject: How Can A Betting Exchange Benefit My Sports Betting Options [print this page] How Can A Betting Exchange Benefit My Sports Betting Options
A Betting Exchange like Matchbook is very similar to a Sports Book but you are matched up against other players like a poker game. The house (exchange) takes a small rake or percentage of each play. Instead of winning or losing to a Sports Book, you are exchanging funds with another bettor just like you. The Exchange is an intermediary that uses their software format to regulate and operate the action. Their betting lines are pretty much the same as standard Las Vegas lines with the difference being the dollarodds which are more competitive ---- collect more and lose less.
This unique exchange between bettors produces much lower dollar odds on the betting line. If you liked laying -3 or -7 or taking the points with the dog, then you are usually risking -$110 to win $100 or the standard 10% vigorish. However, with a Betting Exchange, you can find somebody willing to take minus$102 or -$106 for your bet instead of giving -$110 to the Sports Book. It will vary a little but you are always getting much lower money odds than standard 10% --- some differences being up to 25% better than a Sports Book. You will make from $5 to $25 more on a winning bet and saving around $5 to $20 on a losing bet. This adds up weekly if you are making 10 to 15 bets each week and it makes a big impact over a year.
The Exchange software shows the best money odds on each bet. Placing a bet is pretty much the same as betting with a standard Sports Book. You check the Board and game rotation list and place a bet with an easy confirmation process.
I can post my own money odds and actually become the Book?
YES, you can become the Book if you prefer to be on the other side of the fence!
The software allows you to offer better money odds than the previous one listed.
Lets say you will take minus $103 on a game instead of the previous best price of minus104 by another player. Then someone else who is waiting to place a bet on that game sees your listing at -$103 to win $100. He accepts your offer at your posted price. Your price was the best on the board so why not get the best money odds value for your bet while the actual point spread is the same. If you lose the bet, your account balance is reduced by $100 and transferred to the winning player. If you win, then your account balance is increased by $103 from the losing player. This is done quickly when the game becomes final. There is no problem here and is easy to operate.
There is always a player who likes the opposite side of what you like --- a difference of opinion exists in all sporting events as you know.
The Betting Exchange is the middleman that connects you with fellow players. They are only interested in more bets since their revenue comes from very small commission on each bet.They have no interest in busting losers like a Sports Book who you are betting against.
