If you’re a regular player, you know what a sportsbook is. But how about the term “betting exchange?” You may have heard of it but what is it and how does it compare to the traditional sportsbook? Let’s start by digging the definition of each term…
Within the concept of a sportsbook (bookie), you will be betting against the bookmaker. They will be setting odds based on what they perceive at fitted for them and then they pay you using their own money provided your bet wins. But if your best loses, the money will go to the bookie. This right here is the most traditional way of how bookmaking works. Accordingly, the bets are almost likely placed in order to win. They can likewise be combined with other bets for the purpose of obtaining bigger payouts.
Sportsbooks usually offer free bets and promotions like that of the opportunity to get your money back on a half or full time bet in a game of football or soccer where the score is nil.
How About a Betting Exchange?
A betting exchange on the other hand will allow people to be able to bet against each other instead of solely doing the bet to a bookmaker. For this type of scenario to happen, there has to be two kinds of bet. These are backing and laying. Backing means to win and laying means to lose. For this situation, you are allowed to bet on a team to lose. For instance, if you are not sure who wins the World Cup but you’re sure it won’t be France, then you make that bet. Continue here for a guide on cara buka sbobet.
Generally speaking, in a betting exchange the odds will be set by the people and you are able, at least theoretically, to set any odds you want. However, keep in mind that for that bet to remain live, it has to be matched by people who are going to bet on the opposite outcome. Therefore, those ridiculous low odds won’t likely get matched by anyone. But if the odds you set already have a counter bet, it means that the bet is automatically accepted. View http://www.ehow.com/info_8346297_mobile-casino-games.html for a more about mobile casino games.
Most betting exchanges will be making money though commissions charged on the winning bet. The percentage of the commission is usually around 5%. If there’s one great difference between the two, it would be the fact that betting exchanges have better odds while they don’t really offer that much promotion in the manner a regular bookmaker would do. Click here to play online casino games.