Betfair Exchange is too many hobby players an unknown game option. But everyone involved in the gaming industry knows what benefits you can get at Betfair Exchange, among other things, to get the highest possible odds for your games. Today, relatively few gaming companies offer betting Exchange as Betfair does if we see how many gaming companies are available out there.
It is likely that Betfair will continue to fully dominate this market and, in a way, has a monopoly on the betting exchange. The gaming company first came out with a UK-based game exchange and today has by far the widest range and the easiest use for the Betting Exchange.
New customers wanting to test Betfair Exchange can take part in a £100 bonus bet at Betfair.
About Betfair Exchange
Betfair Exchange was created around the millennium by two British entrepreneurs Andrew Black and Edward Wray. Andrew Black was the man who came to the idea for a great interest in both betting and shares, which created the idea of a free betting market. Andrew Black is the son of British politician Cyril Black, who was probably against betting. Andrew Black was not affected by his father in 2000, so he started Betfair Exchange, and the game company quickly became a success in the betting world, with players from all over the world.
Today Betfair is one of the world’s absolute leading gaming companies, and it’s a lot to thank its players. Betfair Exchange offers the sharpest players, but it also fits new players who are looking for the highest odds in the market.
What is Betfair Exchange, and How Does it Work?
At Betfair Exchange, you play against other players instead of against the bookie. The market is allowed to control itself, and the only Betfair allows to act as intermediaries and to keep the money until the games are settled. This means that you play odds that other players have put and in the same way you can set your own odds for matches that other players can bet on.
The majority of gaming companies earn money to put odds corresponding to lower probability compared to what is correct. They balance the odds up and down to get the same amount of effort versus the odds on both sides of a match. That way, the gaming company is not losing whatever outcome, because the odds do not match the correct probability. At Betfair Exchange, however, you always get the market-leading odds because the gaming company does not cut back on the odds to make money. The players bet against each other, and a loss, it is a player who loses and not Betfair.
Benefits & Disadvantages of Betfair Exchange
Benefits of Betfair Exchange
The benefits of playing on Betfair Exchange versus regular gaming companies are many. As we have mentioned, you get higher odds here compared to other gaming companies. It’s because you play against other players instead of against the gaming company. This means that Betfair does not have to worry about losing money and does not have to cut back on the odds to earn money. At the Betfair Exchange, you always get the best odds on the market.
If you are not satisfied with the odds on a particular game, you will also be able to put your own odds and act as a gaming company. It gives you, as a player, great opportunities and something that is not available at regular gaming companies. Last but not least, you can play for big bets on the Betfair Exchange without having to worry about being restricted.
Disadvantages of Betfair Exchange
There are also disadvantages to the Betfair Exchange that you should be aware of. One thing is that Betfair charges 5% on all net winnings made on the game. The fee or commission as it is called is taken only on profits and not on your efforts and losses. Another thing that may be problematic to play at Betfair Exchange is to be able to play in smaller markets. For you to play on the Betfair Exchange, another player is required to bet against you. For example, if you want to play a football game in a lower division, finding someone who wants to match your bet and struggling with you may be difficult. That is the problem with normal gaming companies.