Betting Exchanges Explained
A betting exchange is a method used for punters to bet against each other, with the person picking up the bet essentially becoming the bookmaker for that specific bet.
If a punter wants to place a bet of specific odds, this can be picked up by another to bet against, giving people the option of bets at odds which are not offered by a traditional bookmaker. The original punter places a “back bet” and waits for another to “lay” the bet as a bookmaker traditionally would. When the layer takes the bet, they do not need a bookmakers license to cover the bet as it is completed through an exchange.
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