Most things happening nowadays are done online. It’s really a connected world out there, and almost anything worth doing most probably had found it’s place online. You could sell an old couch, send a greeting card, and get (or lose) a date all with a few keystrokes. And if you’re an avid fan of applied probability and statistics – betting – then you’ll find it also has an online presence in what we call betting exchanges.
A betting exchange, as the name suggests, is a place where punters could place bets without need of a bookie – punters bet against other players. What it really does is to provide a forum to conduct these exchanges; it’s an online go-between and just acts to match people’s bets.
Why should one go for a betting exchange instead of the traditional form of laying a bet? For starters, betting exchanges usually offer a higher price for players’ fancies than just the usual bookmaker. The reason for this is betting exchanges usually get commissions from the players’ membership – around 3% to 5% commission but this is just a small investment in exchange for higher fancies. Aside from this, players who use betting exchanges can usually change lay their selection should the odds to their original bets hazard a win. Imagine being able to change strategies in the middle of a long-term bet – still an enticing option right?
The advantages don’t stop there, actually. Just like opening an email account, it’s very easy to sign-up to an online betting exchange. Pick your usual username, choose a password and you’re all set. Remember to choose strong keywords for your passwords. Even if it seems that everything is done electronically, never forget that you are still dealing with real money here. Usually, sign-ups don’t require filling up its accounts on the first sign-up, but if you wanted to place your bets as soon as possible then you could do so.
Accounts typically ask for security questions, queries that ask you for a unique answer given a chosen question. Be mindful of what you choose for your particular security question because you will be using this should you lose your password. In addition to this, online betting exchange sites usually have account options that let you see information regarding your betting histories, win/loss records, and other pertinent personal data. It’s a complete package that could be used from the newbie to the most serious punter.