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The term betting exchange, also called oddsexchange, is used to describe a form of bookmaking in which the operator offsets its risk perfectly through technology, such that the effect to the customer is that customers are seen to bet between themselves. Coined because of its apparent similarities to a stock exchange market, oddsexchange is often defined as "a stock exchange for bets" - it is therefore commonly seen as a peer-to-peer gambling website, when in fact it is more closely described as "many-to-many" ( very few bets are actually just one person on one side and one on the other). We always have 3 actors in action:
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| The operator/provider is merely acting as a broker between parties ( the backer and the layer, read more below ) for the placement of bets, rather than a bookmaker, although the reality is that bets are being accepted and offered simultaneously through technology and the legal contract for the bet is with the operator itself and not between customers. |
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| A layer is always simply backing that the event will not occur. Example: laying one horse in a race is just the same as backing all of the other horses to win. |
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| Like a traditional bookmaker, the backer is backing that the event will occur. |
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As every bet transacted requires a BASKER and a LAYER, and the betting exchange operator is not a party to the bets transacted on it, any betting exchange requires BOTH BACKERS AND LAYERS.
The simple concept of the betting exchange - oddsexchange is to bet against other bettors: in the last 2 years thousands and thousands of gamblers around the world were attracted by this new way of gambling.
The most famous provider of betting exchange platform is Betfair  .
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Features, special events, bonus and promotions |
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