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 India?
Generally, when you are gambling online with an operator, you can only back one outcome to happen. Lay bet, or betting against an outcome is not allowed. This is where betting exchanges come in. A Betting Exchange in India allows punters to place a bet on any outcome. Hence, it plays an important role in matched betting. Betting exchanges are places where punters place bets against other sports fans and not the bookmaker. Hence, the Best Betting Exchanges have great odds too. However, it is important that you have a bit of experience in the betting world and go through Betting Exchanges Explained before opting for a betting exchange.
Difference between betting exchange and bookmakers
There are a few differences between betting exchanges and bookmakers. These are:
Betting on Outcome
Betting exchanges allow punters to place a bet on any outcome of a match. However, unlike a bookmarker, the lay bets or back bets are placed against other customers playing in the betting exchange. Hence, by pitting customers against each other, betting exchanges do not limit customers on which kind of bet they would make.
You have a lot of flexibility regarding placing bets on the outcome of your choice when you are involved with a betting exchange. However, when it comes to accumulators, betting exchanges can restrict you. The outcome in the accumulators cannot be determined by the punter easily as they are not placing the bet against fixed odds put forward by bookies. Plus, the odds placed are often restricted and so, you will be making less money in case of an accumulator.
One of the reasons why betting exchanges are so popular among experienced punters is that they set good odds. Since betting exchanges work as a free market with the punters controlling the odds, you can get better value in the odds presented by the betting exchanges. Bookmakers on the other hand, set the odds themselves which includes their own commission.
Betting exchanges generally charge a small commission fee on every bet. This is the way that they make money. It is a percentage of the estimated wins. Bookmakers set the odds with a ‘vig’ which is, their commission.
Types of bet in a betting exchange
There are only two kinds of bets that you can place when you are engaged with a betting exchange. These two bets have made betting exchanges quite common. The two types of bets are:
This is a straightforward bet and most bookmakers offer this kind of bet to the punters. A win bet is when you are placing a bet by backing the outcome of a game For example, if you are betting on a game of cricket between India and Bangladesh and you believe India would be the winner, you can place a win bet backing the win of India. Hence, it is backing an outcome to happen in the game. Since you are betting using a betting exchange, there is a higher chance that you will get better odds when you are backing an outcome to happen.
Lay bets are one of the reasons why most punters opt for betting exchanges. Bookmakers are always going to give you the option of win bets. That’s because when you place lay bets, you take up the role of a bookmaker. With lay bets, you are betting against an outcome from happening. In a lay bet, you will be setting the odds and then, accepting the bets of the other punters. It is also a risky move as if your lay bet fails, you can lose a lot of money. That’s why you should use a lay bet calculator and calculate the losses and the odds properly before placing the lay bets. Of course, you can use lay bets wisely in case of matched betting and not incur any loss at all.
Even the best Betting exchanges have their own pros and cons. Some of the advantages and disadvantages of betting exchanges are:
The ability to lay a bet: One of the best things about betting exchanges is that it gives you the ability to lay a bet. There are many matches where one might want to take a shot at betting against an outcome from happening, especially, let’s say, in horse racing. This is not allowed by bookmakers but betting exchanges do allow it. This is also the reason why betting exchanges are useful in Matched betting where you need to back bet and make a corresponding lay bet so as to secure yourself from losing any money.
Better odds – A great thing about betting exchanges is that you get much better odds in betting exchanges. Betting exchanges work on the free market principle and it is set up in a way where you place your bets against other players, not the bookmaker. Plus, the betting exchange charges a commission as a percentage of the winnings of a certain bet and so, the odds are value odds. You get the most value from the odds presented by betting exchanges since the punters after much research, put their back and lay bets accordingly.
Matching the bets – Although rare, sometimes, you will not be able to match your bets in the betting exchange. This generally takes place in less popular markets where there are few bettors and so the free market situation does not work efficiently due to the lack of punters.
Lack of bonus – Another problem is the lack of bonuses. While a few betting exchanges might provide bonuses, they are not as lucrative as the bonuses offered by top bookmakers. So, if you are someone who is going to a betting exchange in the hope of getting bonuses, you will be dissatisfied.
Betting Exchange Tips
While you may be engaged with the best betting exchange in India, it is important that you create a strategy before betting. A few tips for gambling on a betting exchange can help you immensely in the long run. Here are a few betting exchange tips:
If you are engaged with matched betting, be careful that you match the value that you are putting in lay betting with the value you put in back betting with your operator. A discrepancy of the value can lead to a loss.
Since there will be fluctuating odds when you are betting on a betting exchange, you should bide your time and bet when you get the most value out of the betting exchange.
If you are placing a lay bet and expect a win, use a lay bet calculator and ensure that you have done your homework before placing the lay bet. This is because if you lose, you can end up with a massive loss in your hand.
Research about the different betting exchanges. There are many betting exchanges which offer amazing bonuses and also, have great tipsters. Plus, the commission percentage of betting exchanges differ from one betting exchange to another.
Don’t bet if you already know that the value is gone. At times, the fluctuating odds may slacken and the value of the odds will be gone. This generally takes place with horse racing. During such a situation, don’t engage in any form of betting.
Don’t take losing to heart. While the odds are generally quite good in betting exchanges, there is always a possibility that you will miss out on good odds, make a faulty bet and lose money. You can try again when the value goes up.
What other betting/casino guides & strategies are available?
If you are an advanced punter, then you can get a lot of value from the betting exchange in India. You should not opt for a betting exchange in India if you are looking for amazing bonuses. Betting exchanges are known to provide great odds and the Best Betting Exchanges will not place a large percentage on the winnings as commission. The Best Betting Exchanges can also enable you to engage in matched betting on all the major sports events. With Betting Exchanges Explained and learning about betting exchanges, you will be able to take a crack at risk-free betting as well as go for an exciting betting adventure without the limitations placed by a bookmaker.