The Difference Between a Betting Exchange and a Sportsbook

Certainly, gambling is one of the oldest ways of entertaining. Don’t make the mistake of believing that we are talking about a classic form of entertainment, like movies or music. Instead, we are talking about entertainment that provides a whole new layer of excitement. We are talking about that good old lady luck. Many gamblers would argue that this is their favorite element of this activity.

We mean, when you look at it, it has perfect sense. Being uncertain whether you will win or lose produces adrenaline, which is one of the chemicals that makes people drive forward with excitement. Some would argue that this is the factor that gets people hooked on the concept. However, we will not talk about that in this article of ours. We would like to focus on sports betting.

To be precise, we would like to talk about the difference between a sportsbook and a betting exchange. While someone who’s inexperienced in this concept wouldn’t spot these differences, we assure you that there are quite a lot of them. However, both of them can be found within online casinos. If you would like to find the one that can provide you with the best offer, be sure to conduct research.

Now, we would like to elaborate on these differences. Without further ado, let’s take a look at some of these.

What are Betting Exchanges?

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First, we would like to talk about betting exchanges. What makes it different from sportsbooks, is that you are placing a wagers against other bettors. How do exchanges make their money? Well, they are taking a certain percentage from every bet that was made by gamblers. We are sure that this doesn’t sound too good to a high percentage of people.

But, after you have used this method a couple of times, you will certainly start to see all the advantages this approach can provide you with. At the same time, you can put a bet on whatever odds you are interested in.

After that, you need to wait until someone else makes a wager against yours. In case no other bet is placed against you, you will receive the money you have betted on a wager. If you know this, then you can imagine that this approach works only if a lot of people are betting through the same channel.

What are the Advantages?

Now, we would like to provide you with the advantages of betting exchanges.

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• Live Betting

One of the biggest advantages of using a betting exchange is that you can make live bets. It means that you can wager on a certain match that is ongoing. Naturally, you will have the chance to do so even if you have already wagered something on it previously. It is used either to save as much money as possible or you can go for an extra profit.

• Higher Chances of Winning

Since you are not wagering against a bookmaker, and you are against many other gamblers, you are able to earn a higher profit. Let’s say you are betting on a dog race, and you wagered on a certain dog not to win, and others are wagering on that dog. If you are successful, you will collect all the money put on that dog to win. Surely, it is higher than playing against a bookmaker.

• Higher Odds

Last but not least, there are no limitations imposed by a bookmaker. Therefore, there’s absolutely no limitation on what you can earn. As you know, it depends on how many gamblers have wagered against you. Especially if we’re able to come across an exchange that offers a low commission.

What Are Sportsbooks?

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Different from betting exchanges, sportsbooks are more of a traditional way of bookmakers. Chances are that you are well-aware of how it works. For those who are not aware, it means that the bookmaker provides gamblers with a catalog from which they can choose from. At the same time, you will be provided with completely different odds by every bookmaker.

Naturally, they are available both in offline and online forms. Therefore, you will be able to access them in every way you are interested. It needs to be said that some bookmakers will offer lower odds, which can be often found with some sites that cannot be described as credible.

What are the Advantages?

Let’s take a look at some of the advantages of sports books.

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• Many Different Sports

It doesn’t matter if you are on an online or offline sportsbook, you will be able to choose from a wide array of different sports. If you have opted for some local sportsbook, you will be able to choose from sports that are popular within your country. For example, if you live in the United Kingdom, you will certainly wager on soccer matches, since this is the most popular sport.

• A Lot of Options to Choose From

The next advantage we would like to talk about is a lot of different types of wagers you can choose from. Not only that you will be able to use straight wagers, parlays wagers, and proposition wagers. Because of all these types of wagers, you can see that a lot of them can certainly live mainly off their sportsbooks.

• Convenience

If you have opted for an online sportsbook, you will certainly have access from every location you want. All you need is a solid internet connection and you are good to go. Furthermore, we can see that a vast majority of these sites have the highest possible level of security. Last but not least, you will be able to wager whenever you want to do it.

Summary

As we’ve already said, we can see that many people are not certain about the clear distinction between betting exchanges and sportsbooks. Here, we’ve explained both of these concepts. Furthermore, we’ve provided you with all the main advantages you can expect from reaping from opting for each one of these. We are sure you will find these useful.