Seven ways in which betting exchange customers make money
I remember the first time I visited a betting exchange website. It was pretty complicated working out everything that was happening.
However, I soon managed to figure things out and realise that betting with a betting exchange like betfair, Matchbook or Smarkets could actually provide a more rewarding experience than normal fixed-odds betting.
Here are seven ways to potentially make money from being a betting exchange customer:
1. Back winning selections
So this is the most straightforward and popular method to make money from online betting. You choose a selection and you place your stake accordingly. If it wins, you make a profit.
2. Lay losing selections
This is where we enter proper exchange territory. So rather than back a selection to win, eg a team to win a football match or a horse to win a race, we can instead look at opposing a particular selection instead.
Just say you don’t fancy a team to win their match or horse to win, you can play the role of bookmaker instead.
3. Back winners In-Play
When a football match kicks off, that is often the chance to monitor what is happening on the field and bet accordingly. You can often form a more accurate judgement after watching for twenty minutes.
4. Lay losers In-Play
This applies to a range of sports, including horse racing where you have several runners in a particular heat. There might be a particular horse jumping or travelling badly and that means opposing them could be a profitable excursion.
5. Cash out for a profit
OK so this doesn’t actually require you to accurately predict the winner or loser of an event. Instead you have to back a selection at particular odds with the expectation that the price will get shorter and you can make a profit.
6. Go green across a market
Many customers have a simple aim when it comes to betting exchange markets. They look to achieve a situation where they will make money whatever happens come the final outcome.
One way of achieving this is backing one selection at a bigger price than laying it. Alternatively, it can involve betting on a number of selections within a certain market and looking for their odds to shorten. You can also lay at prices and hope they get bigger to back.
7. Ask for bigger odds
One feature of betting exchanges is getting bigger odds than you might get with a fixed odds operator. Fixed-odds betting companies offer standard prices although the beauty of exchanges is person-to-person betting which means you always have the chance to ask for bigger odds.