The world of Betfair Exchange has made great strides in recent years. More and more people decide to start betting mainly due to the wide variety of the offer that is constantly growing and the possibility of trying new betting methods.
These not only bring more people closer to this world but also allow you to place your bet in a different way than usual. Moreover, sports competitions on which you can bet are also increasing.
A platform that is having great success lately is Betfair , in particular with its innovative betting method called Betfair Exchange .
It is one of the most popular types of bets not only in Italy but also in the rest of the world, suitable for both beginners and more experienced players and which represents a real innovation in the world of sports trading.
But how does the Betfair Exchange work? What are its advantages? Let’s try to deepen the subject in this article.
What is the Betfair Exchange and how it works
With the Betfair Exchange mechanism, the counterparty, at the time of the bet, is not represented by the data held by the bookmakers, but by the odds of one or more bettors.
In practice, our bets will not be based, as in the classic way, on a favorite or a lesser dictated by the odds decided by the experts, but will take into account the average created by the bets of the other players .
The user can operate in two ways: by betting on another player’s share, or by selling a share (technical term banking). In the latter case, the bettor can decide the price he deems most appropriate to sell his share.
Of course, everything can only work if there are other players who are willing to act as a counterpart and are genuinely interested in buying at a price that we have decided, and which must therefore be realistically acceptable.
The types of bet
On the betfair.it exchange site , which is the only one in Italy that currently has this type of bet, two types of bets can be made.
The first type of bet does not differ much from the classic one. By betting on any odds you will lose the sum in case of defeat and you will win the same sum multiplied by the odds value in case of victory.
In the second case, however, it will also be possible to bet against an event and the other bettors will fill the role of bookmakers.
Another very important aspect concerns the “Back” and “Lay” bets, two types of bets that you need to know to understand more quickly how the Betfair exchange works .
The first bet (Back) is indicated on the betfair.it website in blue; it is very similar to a classic bet only it will not be made against the bookmaker but against another player registered on www betfair it exchange .
On the other hand, the case of the Lay bet is different, which is a type of bet made against the result of the match. The user in this case will pretend to be a bookmaker and sell his share to other users.
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The advantages of betfair Exchange
There are so many advantages offered on betfair.it betting exchange .
The first of all is represented by the great variety of odds available. Without the presence of a single bank that acts as a bookmaker, in fact, it will always be possible to obtain the most advantageous and most varied odds and there will be no fixed trading commission.
This is also one of the reasons why this mode is having a lot of success and is preferred by many players over the classic one.
The second advantage is certainly represented by the possibility of banking, that is to play the role of real bookmakers, reselling their share at any time and operating in a way very similar to what happens in the financial markets.
The third advantage is to be able to bet both against the specific result of an event and both live, that is, just while this event is in progress.
Some disadvantages
As it is true that this type of bet brings numerous advantages to players, it is also true that it can only work if there are other users who are doing betting Exchange at that moment.
Generally this is not a big problem because this system is spreading rapidly in Italy.
The only drawback is represented by the so-called minor sports, on which there is still work to be done in terms of the presence of users during live events; for the most famous sports, however, this problem does not arise as all users find great advantages from betfair Exchange and decide to use it in most cases, preferring it to traditional bet types.
This has also led to a greater availability of liquidity and to winnings in most cases higher than the traditional system.
