What is a Betting Exchange?
You have probably heard of the traditional bookmakers but betting exchanges are a completely different kettle of fish.
What is a betting exchange?
A betting exchange is a betting site where you can bet against other individuals.
What’s the difference between betting exchanges and bookmakers?
This is different to bookmakers where the bookmakers takes bets and sets the odds. Simply put, betting exchange you bet against other betters, bookmakers you bet against the bookmaker.
A betting exchange does not participate in the bet but earns by adding a commission on each bet made. This commission is usually 5.0%.