A betting exchange is a platform that allows individuals to bet against each other, rather than against a bookmaker. This creates a market-driven environment where the odds are determined by supply and demand, rather than by a bookmaker who sets the odds based on their own analysis.
This results in better odds for the bettor, as they are not limited by the bookmaker’s margin. Additionally, betting exchanges offer more flexibility in terms of the types of bets that can be placed, as well as the ability to trade bets in-play. This allows bettors to potentially lock in profits or minimize losses, even if their original bet is not looking likely to win. Overall, betting exchanges provide a more transparent, fair, and efficient betting experience compared to traditional bookmakers.