What are the Benefits of Using Betting Exchanges over Bookmakers?
In the good, old days of gambling you bet with bookmakers.
In fact, I can remember my Dad going to the local bookies up the road, Fred Scotney, and you placed your bet and had to listen to the commentary. They didn’t even have TV coverage. It wasn’t until 1986 when Satellite Information Services (SIS) broadcast live horse racing in bookmakers for the first time.
The first betting exchanges hit the headlines in 2001. Betfair changed the way of gambling opening up the betting industry so individuals could bet and lay in essence any individual could act like a bookmaker.
Betting exchanges has afforded bettors and layers some freedom which conventional boomakers didn’t offer. For example, a gambler can bet and lay. This means individuals could trade on the exchanges. Also, outsiders in any given races are generally considerably bigger odds. A 33/1 shot with the bookies could be 100/1 on the exchanges. It also allowed gamblers to cash out if they wishes. Bookmakers have added this to their platforms as it is a popular option.
Betting exchanges have led the way and helped transform the traditional bookmakers to offer more in the way of promotions.
One of the greatest advantages of using betting exchanges over bookmakers is that even if you win big money your account will never be closes.
Bookmakers do not give this guarantee. In fact, many have been criticised for their practices.
From a personal view, I would much prefer betting with exchanges although there are occasions when a traditional bookies can be used as an advantage just as taking early prices which may not be available elsewhere.