Chris Hardy brings years of experience to Wetten.com, thanks to his strong background in journalism and online writing. Chris' career began nearly 20 years ago when he was hired to work for his local paper; he then made the move to web writing when he and his wife moved to the USA to be closer to family in 2017. This location change led Chris to develop a particular passion in US sports such as basketball and NFL (he remains a beleaguered Miami Dolphins fan and is sure their turnaround season will happen... one day) and he utilises his all-encompassing knowledge of US sports, along with soccer, when writing for Wetten.
What is the best betting exchange in Australia?
If you’re looking for a decent betting exchange in Australia, then we can point you towards some of the best betting exchanges that our country has to offer. By going to any of these sites you should be able to enjoy plenty more flexibility with your sports bets, and stand a good chance of getting the best odds on the market.
But what are betting exchanges and why should you use them? We’re going to have betting exchanges explained in simple terms so that you can see how they work. Plus we’ll even describe some of the drawbacks of going with the best betting exchanges, so that you get a balanced picture of these sports betting platforms operate.
Taking a look at our shortlist of the best betting exchanges illustrates the fact that there aren’t too many brands who offer this specialist service. This could be due to the fact that betting exchanges have only been with us for around 20 years, and so you won’t face too many options if you are looking for a betting exchange in Australia.
Thankfully, the country’s best betting exchanges are all quality operators, and some of them are even included in our list of the best betting sites in Australia. You’ll even find perhaps the biggest betting exchange in the world here, and by going with this company, you’ll get a great example of what betting exchanges are all about.
All of the best betting exchanges are fully licensed and regulated sites. This means that you won’t have to worry about questions like ‘Is online gambling legal in Australia?’, and can instead just get on with backing and laying your bets.
By going to a betting exchange you will be betting against other sports fans, rather than a bookmaker. This means that a punter will put up their own odds for something happening in a sporting contest, and it’s your job to back these odds and say that the event will happen, or lay the odds by saying that it won’t happen.
It’s probably easier to have betting exchanges explained by giving you an example. We’ll imagine that there’s an A-League soccer match between Sydney FC and Brisbane Roar. If you wanted to bet on Sydney FC to win, then you might be able to bet on odds of 1.53 for the team to win, or you could bet on odds of 1.59 that Sydney FC won’t win.
Similarly, you could bet on odds of 6.60 for Brisbane Roar to win, or odds of 7.40 that Brisbane Roar wouldn’t win. For a draw you could get odds of 4.30 that this would happen, and odds of 4.90 that this wouldn’t.
This shows that a betting exchange in Australia could offer you more flexibility than a standard bookmaker. Obviously this is just an example of a standard 1×2 betting market, and you’ll need to know the answer to the question of ‘what is 1×2 betting?’ to get the most out of this explanation.
We could also have betting exchanges explained for anything from golf to horse racing. But for simplicity’s sake we kept it to basic soccer bets and, so you if you are searching for the best strategy for no risk matched betting Australia has to offer, you’ll need to look elsewhere.
Advantages of going to a betting exchange in Australia
By going to a betting exchange in Australia, you’ll stand a much better chance of getting some of the best odds on the market. This is because the odds will be put on by other punters, rather than a bookmaker who would be keeping an eye on their betting margins.
The greater variance in odds that you’d find would mean that you’d stand to make much better profits at a betting exchange in Australia. This is especially true as betting exchanges don’t have betting limits as it’s the punters who are putting themselves on the line, rather than the bookmaker.
You’ll need to have a basic understanding of how betting odds are calculated to make the most of betting exchanges. But any betting exchange in Australia is a great option for those who are looking to take their sports bets up a level.
Disadvantages of using a betting exchange in Australia
We can’t have betting exchanges explained without pointing out the basic fact that these sites can be a little complicated. If you are looking for advice on which bookmaker is best for beginners in Australia, you should probably go for a standard sports betting site.
We should also note the fact that all betting exchanges will charge commission on whatever profits you make. Commission rates are commonly around 2.5% which might not sound a lot, but it can add up significantly over the long term, and it shows you how bookmakers make money when they aren’t putting on standard fixed-odds bets.
As betting exchanges only feature bets put on by other punters, then there’s always the chance that you might not be able to find odds for your chosen sporting event. While you’ll always be able to find bets for popular sports like English Premier League soccer, if you were into more niche sports, then you might be left disappointed.
Similarly betting exchanges might not offer you quite as much flexibility with certain kinds of advanced betting techniques. So, if you knew the answers to questions like ‘how does cash out betting work?’, and ‘what is Asian handicap betting?’, and you wanted to put these techniques into action, a betting exchange might not be the best place to start.
As you’ll be betting against other punters, it’s fair to say that you can make some decent money by anticipating where other sports fans have undervalued any of their odds that they put on. Sports fans are notorious for putting too much faith in their own favourite teams and players, and so it’s your job to try and identify when the odds on a betting exchange are too good to ignore.
This can often be easiest to spot whenever big sports teams like Manchester United or San Francisco 49ers are in action. These teams will often have a few casual fans who have failed to adequately research the sides’ past form, and you’ll be able to take advantage of any odds that are a little wayward.
It’s also important to note that odds can fluctuate wildly on betting exchanges. As a result, you’ll find that there’s plenty to be earned from keeping your eye on the price for your preferred betting markets.
Keeping your costs down
Don’t forget to factor in the betting exchange’s commission rates. Because the odds on betting exchanges are so generous, you’ll need to not get too carried away. Remember that many betting exchanges have loyalty schemes in place that can help you reduce whatever commission fees that you have to pay.
The same concept applies to making your deposits at a betting exchange. Depending on which payment method you use, you might find that you have to pay fees for making deposits at all betting sites. Be sure to check our guide to the best betting sites with bank transfer in Australia, so that you can keep your costs down.
Getting help at betting exchanges
We’ve seen some betting exchanges who’ve put on handy guides to the service that they provide. These guides can take a lot of the mystery out of backing and laying bets, and we’d recommend checking them out before you get started on any betting exchange.
All decent betting exchanges will also have customer support teams in place if you need any help with receiving any payouts from their site. But don’t forget that we can help you with the best guide to resolving bookmaker complaints Australia has seen too.