Between betting exchange and bookmakers exist important differences. In a betting exchange you don't bet against the bookmaker but against another player.
Betting exchange offer much higher odds for matches because there is no rake on the games. In betting exchange is every player self the bookmaker. You can give a bet
and declare yourself your odds. If another player agree with the odds he can place his bet too and your match has been matched against the other player.
An important thing in betting exchange is that a player can sell his match during the match or even before the match started. This way is equal to a stock exchange market.
If someone has get experience in the exchange market he can develop betting exchange strategies and make good winning with betting exchange. Betting exchange companies
doesn't care if someone is a winning player because eaxh player win and loose against another player. The betting exchange companies keep a 2% - 5% commision from the clear winnings.
But with the higher odds it is more lucrative to bet as in sports books.
The disadvantage in betting exchange is that it is not lucrative to bet on combi bets. If you want to bet in 2 or games in your ticket it is better to choose a bookmaker.
Another disadvantage is the complexity. In the first time every player will not understand easy how a betting exchange works but after little time
it will be more easier.
Famous betting exchanges
The biggest betting exchange is of course Betfair. It was established in teh year 2001 and now it has millions of players trading in Betfair. Another betting exchange
is Betdaq. This is not famous as Betfair but all what Betfair offer to a player, will offer Betdaq too and you won't see differences. There are some other companies
like mybet and Betsson but they still concentrate on sports book betting. We can say that the only disadvantage in a betting exchanhe is that you don't want to place
combi bets there. For single bets and trading strategies is the better choice.