Either to get a better price than the bookies are offering, or because you’ve had your account restricted at one too many bookies.
The main betting exchange you’ll probably use is the Betfair Exchange.
Betfair was one of the first companies to make an online betting exchange available where people could bet against each other.
Betting exchanges make their profit by taking a small commission from all winning bets.
At Betfair this commission starts off at 5% and reduces slightly as you bet more money with them.
However, Betfair aren’t the only betting exchange available these days.
And slightly smaller betting exchanges such as Smarkets are charging a much smaller commission of just 2% on all winning bets to try and attract more customers to use them.
The odds available on Smarkets are usually the exact same as those that are available on the Betfair exchange, so it is well worth placing your bets at Smarkets as the 3% difference can add up to a significant sum of money over time.
If you don’t already have a Smarkets account you can open one here: www.Smarkets.com
Until next time,