Contributing Soccer and US Sport Editor
Contributing Soccer and US Sport Editor
Welcome to our guide to using a betting exchange in New Zealand. Here we are going to showcase the best betting exchanges currently available, and we will even have betting exchanges explained in simple terms so that you can take advantage of this innovative way to bet on sport.
Once we’ve had betting exchanges explained, we’ll show you the key reasons why using a betting exchange in New Zealand could be an even better option than using some of the best betting sites in New Zealand.
In addition to this, we will even give you some great tips to try at the best betting exchanges. Just don’t forget to the get the answer to important questions like ‘What is 1×2 betting?’ so that you know how betting odds are calculated at sites like this. All of which means that you’ll never have a better introduction to using a betting exchange in New Zealand.
We’re proud to show you what we think are the best betting exchanges currently available. By using any of these sites you’ll find a great place to back and lay your sports bets, and that means enjoying plenty more flexibility when betting on top sports like cricket, rugby, football and basketball.
You won’t have to worry about questions like ‘Is online gambling legal in New Zealand?’ when using any of our picks for the best betting exchanges. This is because all of these sites are fully licensed and regulated so that you can enjoy legal and secure ways to use a betting exchange in New Zealand.
If you are asking which bookmaker is best for beginners in New Zealand, then you might want to skip our selections of the best betting exchanges for now. This is because using a betting exchange in New Zealand is a little different from using a standard sports betting site.
In order to make the most out of the best betting exchanges, you’ll need to have betting exchanges explained in simple terms. If you go to a standard sports betting site or even the best online casino in New Zealand, then you will be betting on the odds of something happening that are put on by the bookmaker.
But by using a betting exchange in New Zealand, you’ll be betting on odds put on by other sports fans. You’ll either get to back their bets which means betting that something will happen in a sporting encounter, or you could lay their bets which means that the particular sporting event won’t happen.
So for a bet on the next Cricket World Cup, you’d normally just be able to bet on one of the teams to win the whole tournament. But by coming to a betting exchange you can also lay a bet which means that you could bet on a particular team not to win the tournament.
By winning your bets you would be paid out by the losing punter, not the betting exchange. You’ll only be liable to pay up for whatever’s in your betting account when you put down losing bets at the betting exchange.
You might therefore be asking how bookmakers make money when they are running a betting exchange? They do this by taking a small commission on whatever profits you make when using their sports betting site.
Betting exchanges have grown to be hugely popular as you can frequently find better odds on these sites compared to what you’d get with a standard bookmaker. This is because there is no kind of betting margin featured at betting exchanges as the odds come direct from other sports betting fans.
It’s also worth noting that you might get to enjoy more variance in the odds on offer at betting exchanges. After all, sports fans are notorious for betting with their hearts rather than their heads. As a result, you could pick up some real bargains with your bets if you stay at a betting exchange long enough.
As the odds will be changing all of the time in correspondence to the bets placed by other punters, you’ll find that it offers a much more interesting way to bet on sport when compared to using a standard bookmaker. After all, you’ll get to read the psychology behind the betting activities of other punters and take advantage of this to potentially make some decent profits.
We can’t have an online betting guide for New Zealand without pointing out some disadvantages of using betting exchanges. The first thing to realise is that betting exchanges probably aren’t the best option if you are new to sports betting. Far better to just stick with the simpler bets at the standard sports betting sites before you start trying to out-think other punters.
We should also note that many betting exchange users won’t realise how they will be liable for whatever losing bets they back or lay, and this can often cause you to lose more money than you anticipate.
It’s also worth mentioning that betting exchanges might not be good for some niche sports as you’ll need to have other punters who are willing to match your bets to make betting exchanges work.
Finally, we have to remind you that a betting exchange’s commission fees can steadily eat into whatever profits you make. While it’s not enough have to use the most trustworthy guide to making bookmaker complaints New Zealand has to offer, these commission fees can still be easy to forget.
There are many similarities to using a betting exchange and a regular sports betting site. The first thing that you will need to do with either is to create your betting account, and then you will need to do is to work out how to deposit money into a betting site in New Zealand.
You should find that all of our recommended betting exchanges should feature in our list of the best betting sites with credit card in New Zealand and the best betting sites with bank transfer in New Zealand.
If you prefer using an ewallet you can check our shortlists of the best betting sites with PayPal in New Zealand, the best betting sites with Skrill in New Zealand, the best betting sites with Neteller in New Zealand and best betting sites with EcoPayz in New Zealand to see if they feature betting exchanges. Don’t forget to check our list of the best betting sites with Bitcoin in New Zealand so that you can see if there is a betting exchange who accepts this cryptocurrency.
Once you have put money into your account, you can check the odds on offer. You’ll normally see a list of sports bets like you would on a standard bookmaker’s site. But the key difference to note is that each betting market will contain options for backing the bet and then laying the bet.
You’ll also notice that the odds will be fluctuating as sports fans back and lay the bets on offer. If there aren’t any odds that meet your needs then it means that nobody has backed a bet for that scenario yet. This means that you’ll get the chance to set your owns odds and hope that somebody else comes along to match your bet.
After you have done all of this you just need to sit back and see if luck is on your side. Don’t forget to factor in the betting exchanges commission rates that can take a small cut out of whatever profits you make on their site.
It’s always best to try and out-think other sports fans when you use betting exchanges. By anticipating how other punters put down their bets, you’ll be well-placed to spot whenever they put on odds that are simply to good to ignore. This means that you can lay their bets, and enjoy the odds that usually are much better value than you can find at regular bookmaker sites.
We should also note that many people will use betting exchanges to try and put into practice the best strategy for no risk matched betting New Zealand has at the moment. This means that you use the betting exchange to match a bet that you took at a standard bookmaker’s site with the same odds and the same stake.
By doing so you would unlock whatever free bets you had claimed at the bookmaker regardless of what happened in the sporting event. While this makes sense, if a bookmaker catches you trying this tactic, you might find yourself getting banned from further free bet bonuses in the future.