What is the difference between bookmakers and betting exchanges?
Today you can bet on 2 different types of platforms:
- Traditional bookmakers
- Betting exchanges
Understanding the difference between them is crucial. Even more so, each requires a unique bettor profile.
If you are a more casual or less experienced bettor, you probably go to sites like 22bet , BetWay or Bet365 . And it will be called punter.
If you want to operate more seriously and on a more professional level, you will be a trader, who will act on betting exchanges, such as Betfair .
In this article, you will understand what the differences and similarities between the two types of sites are and which one is best suited for your style of Bettor.
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Bookmakers-Punting
A traditional bookmaker has several sports and competitions that you can bet on.
It is she who determines to probability of these events. Proceeding from this, it offers a system in which bettors conduct their games.
This system is organized according to a logical division, as you can see below:
- Modality
- Competition
- Event
- Betting market
Let's say you want to bet on Football. Within it choose a Champions League as competition.
The event is Atletico Madrid vs. Bayern Leverkusen. The market is 1×2 , that is, you bet on the victory of one of the teams or on a draw.
If you want to bet on Atlético's victory, you will multiply the amount bet by the odd of 1.7 offered by 1xBet .
A bookmaker is the big bet opponent . Beating it on its own rules is the challenge of those who opt for this platform.
NOTE: to learn more about Punting bets read our article!
Betting exchanges-Trading
Anyone who goes to a betting exchange is called a trader. That's why sites like Betfair are called trading exchanges.
So that you understand this well, let's compare this platform to a Stock Exchange .
You do not bet against a house, but against other bettors.
But how does it work? Let's take as an example a Betfair .
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- $1 minimum deposit
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It works just like intermediary between bettors . So it doesn't add a profit margin to the odds.
Are charged committees about winning bets. If you lose a bet, you do not need to pay commission.
Betfair provides a platform where bettors bet on the odds that are of interest to them.
Another differential of Trading is to be able to bet against an outcome, the so-called Lay .
If you think a result won't happen, you can bet against it. For example: betting against a team winning.
But if you think that the victory will come out, bet in favor of it, the so-called Back !
NOTE: to learn more about the Sports Trading read our full guide on the subject!
Conclusion: Which Platform To Choose?
If you are now entering the world of betting, we advise you to opt for a traditional house. There are many good options, such as:
- 700+ casino games & slots
- VIP program & regular promotions
- $1 minimum deposit
Payment methods
It is much simpler to bet on a traditional house. The odds are more restricted, being defined by themselves, but they are more constant.
All the sites mentioned above are extremely reliable and offer high quality services.
Even for experienced bettors it can be interesting to play on this type of platform. Not everyone has the profile for a betting exchange.
The scholarship is aimed at those who have more practice and knowledge. Acting as a trader requires dedication, constant study and research.
To correctly choose the platform, understand what your bettor profile is.
If you want to pursue a career as a professional bettor, try a betting exchange little by little. Betfair is now the best in the market.
- 700+ casino games & slots
- VIP program & regular promotions
- $1 minimum deposit
Payment methods
Otherwise, if your profile is a casual bettor, looking for fun and simple profits, you already know: stay tuned bookmakers .
