What is a Betting Exchange?

The idea of a Betting Exchange does away with the need for bookies. It gives gamblers the ability to design their own odds and markets, increasing their chances of winning.

Users are prioritized on Betting exchanges. Users can choose their wagers on this market and take on the role of the bookmaker. This implies that gamblers are free to increase the bets and to provide odds to other players, subject to negotiation. In simple words, punters can set odds and bet against each other.

Betting Exchange also enables bettors to wager on the results of discrete or specialized events. In order to lock in winnings or reduce losses, gamblers may trade their bets live during an event. However, there aren’t many bookmakers that allow bets to be traded.