https://www.teamprofit.com Betting Exchanges are explained in this simple and easy to video. Team Profit Sarah teaches you everything you need to know. Plus head to our website to find out how you can make £600+ risk free from matched betting.
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What is a betting exchange?
Two betting platforms are used when matched betting; one is the traditional online bookmaker, the other is an online betting exchange.
A traditional online bookmaker is very simple, they offer odds on sporting outcomes to the public. If you choose to back the outcome and it wins, you receive winnings from the bookmaker. If the outcome doesn’t win, the bookmaker keeps your bet amount.
For example, a bookmaker may offer ““Bet £10 on Real Madrid to beat Man City and if Real Madrid win I’ll give you £15. If Real Madrid do not win, I keep your £10 bet””
A betting exchange on the other hand is a marketplace for the public to bet between each other on sporting outcomes. This differs from a traditional bookmaker because an exchange also gives you the ability to be the bookmaker yourself and take bets from others.
For example, now the customer can become the bookmaker and accept bets on Real Madrid to win. By doing so if Real Madrid do win, Team Profit Jon has to pay out £15. If Real Madrid do not win, Team Profit Jon keeps the other person’s £10 bet. Therefore, by becoming the bookmaker, he is effectively betting that Real Madrid do not win. This is known as a lay bet.
We’ve now learnt the difference between a bookmaker and a betting exchange.
How do we use this when matched betting?
To recap, bookmakers give welcome offers such as “bet £5 get £20 free”. So using the football match Chelsea vs Man City as an example, we could bet £5 on Chelsea to win in order to trigger our £20 free bet.
However, Chelsea may not win meaning we lose our £5 bet. This is where the betting exchange comes into play.
Using the exchange, by becoming the bookmaker we can place a £5 bet on Chelsea not to win, known as a lay bet.
So overall, our bookmaker and exchange bets cancel each other out.
Which means no matter the outcome, no money is lost or won from the initial £5 bet.
But great news, we will have then triggered the £20 free bet which we can then turn into £15 bankable profit!
More info:
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Video Rating: / 5
What are the other white boxes either side
Why the hell do you need backing music to this. Get rid of it please
There are other options to Betfair. with all the security checks a lot of gamblers are looking towards Citibet which has the greatest liquidity. Top gamblers like Zeljko Ranogajec have moved a lot of their business onto the platform
Couldnt concentrate for the music, why is it there?
Betfair banned in india
Hi all's I started using this few weeks ago I've got over 300 already😀👍
What's with the unnecessarily loud music? Couldn't hear half of what she said. Waste of time.
I am confused about the odds surely it is set odds as on betfair I can increase my odds as much as I want surely I can’t do that as I could just put the odds to 100 on a team to win and make loads of money
Hey team profit thanks for the video, very educational. Is there any way i can change the odds from decimals to fractions???
So what are the bookermarker websites and what are the exchange websites. I don’t know which ones are which
Example of them sites?
I can either listen to your razor sharp voice or the music
. Not both
Why oh why do these videos insist on playing
the annoying background music !
Your betting method is not 'risk free'. Unless you always bet @ odds of 1/1 or over.
too much music
Although not quite right. If everybody layed, and nobody went onto Betfair to back, no bets would ever be matched. I use back bets to try and increase odds but generally I lay
I live in Australia, can i bet on UK bookmakers
You only use Betfair exchange for lay bets? When you're backing your bets are matched with someone else who is laying. So you're being a bookmaker even when you're backing.