Odds trading: discover another way to bet
You bet through this intermediary and all your sports betting trades are made with them. There are various types of online betting service providers, including those that do a different, more professional type of betting than the traditional one.
This is the trading of odds, also known as the "betting exchange". Bookmakers who practice this type of betting include Betfair, 9wickets and Matchbook. Discover these bookmakers and learn more about how Back and Lay works!
How Back and Lay works
The different types of bets that exist allow all punters to find their way into their elements, no matter what they choose. This world has therefore been revolutionised by this new technique of 'Back and Lay'. This principle has been brought to light through betfair, the sports betting exchange platform that is similar to a broker.
The "back" of the expression means the acquisition of a bet at a given odds and the "lay" means the sale of this bet at another defined odds, with the maximum stake. This principle certainly makes you think of trading, which is why it can also be called odds trading.
To easily understand this concept, just follow this simple example: when you buy odds at 2.10 and bet NGN50, you must win NGN60 if your bet wins, but if it loses, you lose your original bet. This is the principle of the back. For the Lay, if you invest NGN50 at odds of 1.60, you pay the NGN60 when you lose and you get your NGN50 back if you win. You should already be able to see the nuance, because it is clear.
Sports betting exchange platforms
Unlike traditional betting sites, there are far fewer sites that allow you to trade sports odds.
The leaders in this market are:
The world leader: betfair
Betfair is the greatest betting exchange platform in the betting business. Indeed, the betting exchange can also be called odds trading. Betting on Betfair in Nigeria is like trading. The bettor is the one who monitors and sets his own odds. The principle of exchange betting is very simple and betfair is the exchange of the betting field. It is a bookmaker that was founded in 1999 and brought a new breath to the betting business.
Here, players choose their own odds and thus influence the liquidity of the market. The back and lay is the basis of this system. Through the Lay, a player has the ability to bet against an event that will happen.
The users of this bookmaker are estimated to be over 4,000,000 and the assets are estimated to be over 800,000. These figures make it easy to see that the betting exchange strategy is of interest to many.
When you choose this bookmaker, you are probably sure of what you want. You can understand that this is not just a bet, but a trading strategy for punters. It is a trading, selling and buying of assets based on the principles of finance.
The biggest competitor: Machtbook
To practice betting, exchange, you need to understand its principle. To do this, you need to know the bookmakers who can help you to do it whether you are a beginner or a professional bettor. Matchbook is a player totally dedicated to back and lay. Betting on Matchbook in Nigeria means joining the betting exchange and becoming a professional.
On Matchbook, unlike other platforms, there are no fixed odds. There is only back and lay. That is, you take the place of the platform and you are in charge. You decide when you want to take any bet according to the odds which are also defined by you. The proposed commission is only 1%..
The exchange system on Matchbook is such that you can make arbitrages without any problem. It is not as developed as Betfair on betting, but the odds it offers are very attractive, because of its commission. However, whatever sporting event you want to bet on, you will find it at Matchbook.
The platform for professionals: 9wickets
The betting exchange has expanded and 9wicket is one operator that has also taken up the challenge. It is now one of the best in the business and betting on 9wicket in Nigeriais real trading. You believe you are in the world of finance and at the same time, you earn money.
9wickets is a bookmaker and at the same time a broker for professional bettors. It allows you to bet on Betfair for odds trading services. It also works on the principle of back and lay and gives the customer absolute power to define their fate according to the betting market. It is also worth noting that you can access the Betfair market through 9wickets.
This online betting service provider is also a betting exchange platform with a simple logic. You can control your odds and decide when to win. It should be noted that back and lay might seem complex for beginners. That is why you need a series of information that you can find on the official sites offered.
Matchbook is also a player that follows the same logic as the previous online betting promoters. Discover this bookmaker and broker.
Summary:
| The betting exchange is a platform | who trades odds via the Back & Lay |
| where the odds are set by the punters | Here is the Betting Exchange guide for more details. |
