It is no secret for most players that betting on sports and other events is not only possible with bookmakers. A bet can be made with other players through a betting exchange. About it and will be discussed in our article.
What is a sports betting exchange
A sports betting Мalaysia Pari Мatch exchange is a kind of platform for betting between players on sports and other events. In it you can offer a bet yourself - by choosing a certain event, offer your odds and bet amount on a certain outcome (in this case you sell the bet, so to speak, act as a bookmaker). Or you can agree with the terms of the bet offered by other players, i.e. buy a bet. Thus, you become a participant in the process of buying and selling on a large online financial market, where as the goods are the bets on sporting events. The sports betting exchange, in its turn, acts as an intermediary, providing the players with a service for participating in this kind of trading. For this exchange take up to 5% of the winnings.
In order to make a bet, you need to have an account at the betting exchange and an account in some electronic payment system, such as Skrill (we talked about it in the previous article).
Bets "In favor"
With "In favor" bets everything is very clear. The wagerer offers you the odds and the maximum amount of your stake on the line in front of the exact event you select. If you are satisfied with the terms of the bet, you make a bet with the specified odds, as in a regular bookmaker's office. Your bet will be accepted only in case of the result on which you have bet. That is, if you bet "For" a draw, the teams must play a draw in order to win. It is the same with a win for the first or second team.
But you can also offer your own "In favor" odds on a certain outcome of an event you are interested in. And if there is a second player who is interested in your odds, a bet is made between you.
What does "Bet Against" mean? It means you are ready to accept a bet against a Chelsea win, which has a maximum value of $887. The equivalent of that bet for you will be an X2 bet of your liability (1365.98) at odds of 1.649 (2.54/2.54-1). That means you'll win $887, which was bet by the second player, if Man. United wins or the teams draw. The exchange will take a percentage of your winnings.
And if Chelsea wins, you will have to pay the second player $887*2.54 = $1365.98, because you accepted $887 bet with odds 2.54 - by analogy, how a bookmaker office pays you the winnings. Accordingly, making a bet "Against", you must necessarily calculate your obligations to the second player or, in other words, the amount of your possible loss.
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