Betting Exchanges
In recent Years Betting Exchanges have revolutionised online betting. Betting Exchanges provide you with the facility to be against other punters taking away the need for a traditional bookmaker. Odds are consistently around 20% better with Betting Exchanges as there is no Bookmaker to take a profit. With most betting exchanges you will pay a small percentage of your winnings usuanlly between 2-5% to the Bet Exchange.

So much as been made of the success of Betting Excaahnges that traditional Bookmakers are considering court action as they argue that punter betting against an outcome are infact Bookmakers and they are operating without a Licence. Watch this space to see if anything develops.

Reasons you should choose a Betting Exchange over a Traditional Bookmaker.

1.Better Odds: Clients may take the best available odds on the exchange for their bet or can request better odds.

2.Ability to Lay: Bet Exchanges allows clients to offer their own odds on selections not winning an event.

3.In-Running Betting: Bet Exchanges will frequently offer 'In-Running' betting markets on horseracing and all other live televised events, Cricket and Football to name a few.

The best and most well known Bet Exchanges on the internet are Betfair and Betdaq. We strongly reccomend that you sign up with one of these Betting excahnges to see for yourself how good the odds can be.

Backing
This is the usual form of fixed odds betting. When you back a selection you are betting on that selection to win. If you win your back bet, you receive the stake multiplied by the relevant odds. If you lose your back bet, you lose your stake. For example, if you back a selection at odds of 10.00 for £10, you receive £100 if it wins, for a £90 profit. If your back bet does not win, you receive £0 for a £10 loss.

Laying
Laying is the opposite of backing. When you lay a selection, you are betting on that selection to not win. Essentially laying takes the roll of the traditional bookmaker. If a lay bet does not win, the layer receives the backer’s stake. If a lay bet wins, the layer pays out to the backer the stake multiplied by the relevant odds. For example, if you lay a selection at odds of 1.40, for £100, if the selection wins you lose £140, which is the backer’s profit. If the selection loses, you profit £100, which is the backer’s stake.

Matched Bet
A matched bet occurs when a back bet and a lay bet on the same selection at the same odds are submitted into the system. For example, if a user backs a selection at odds of 3.00 for £50 and another user lays the same selection at odds of 3.00 for £50, the bets are matched. Once bets are matched, they cannot be cancelled by either user.

Unmatched Bet
These are bets placed into the system that have yet to have an opposite bet matching it. These unmatched bets will appear in the Betting Window as available offers for users to take.