The 24Betting betting exchange is an online platform that allows players to bet on sporting events with each other on an exchange basis. The betting exchanges earn a commission on their players' winnings, not on margin, which is why, at first glance, they have the highest odds on the market. On the other hand, the presence of the commission reduces the potential winnings of the player, and therefore the potential winnings on the betting exchanges correspond to the level of low-margin bookmaker's offices.
A beginner may have the following questions about the betting exchange 24Betting:
- What is called a betting exchange;
- What are the differences between the online betting exchange 24Betting from online bookmakers.
- What are the betting exchanges and how to make them;
- The main pros and cons of the exchanges.
Now let's give the answers to all of these listed questions:
- A betting exchange is an Internet portal (site) where participants make a bet only between themselves, and therefore without an intermediary in the form of a bookmaker. Any player has the opportunity to choose what to do: either to put their own odds or to accept bets. Due to such conditions, that the participants play only among themselves they have a much better chance to win and find the highest odds than when the game is between the players and the bookmaker. These terms and conditions of betting exchange are much more favorable for the players because betting exchange only takes a small percentage (about 2-5) for using their portal for betting.
- As you have probably already realized the difference between the online betting exchange and the online bookmakers is that the dispute itself takes place only between the participants, not between the player and the sports office.
- There are only two types of bets on the betting exchange: FOR, AGAINST.
If you choose a FOR bet, you are playing the role of a player. To do this, you will need to select a sporting event and place your bet on it. But if, suddenly, you are not satisfied with the odds, there is such an opportunity, as to make a bet with a pending order. In this type of bet, until the odds reach the desired value, the bet will be in the status of unfinished. When you select a "LOSS" bet, you play the role of a bookmaker.
It means that you confirm that some certain events of the match will not take place, thus setting your odds. You win, if the participant, who agreed with your odds, lost. And your profit will be: the money bet by this participant minus the exchange commission.
- As mentioned earlier, the players on the exchanges themselves offer odds, from which it follows that they tend to be on average 15-25 percent higher than those offered in bookmakers' offices.
- Also another clear advantage is, of course, that all the betting exchanges, unlike all bookmakers are not exactly interested in someone's victory or loss, because they simply charge their small percentage of players' profits. And as a result there are no controversial moments on the return of controversial bets and on the winnings of large sums of money.
- There is only one disadvantage of betting exchanges. It must be experienced in betting. Participants who are just beginning to comprehend the knowledge of betting, it will be difficult to play on online betting exchanges, that is, it will be especially difficult to bet "AGAINST". Because of these conditions, the exchanges are mostly played by professional players, there they have more options to increase their capital.
- Finally, it should be noted that if you have an interest and desire to bet on the stock exchanges, never rush to conclude a deal. Always study the rules of the game first, familiarize yourself with the terms of making bets, etc.
How to bet on the exchange 24Betting?
To make a bet on the exchange 24Betting you need to register on it, then choose the best event for betting and make a bet on it.
What are quick bets on the exchange 24Betting?
This is the name of the one-click betting type. To make a bet it is enough to set a specific denomination of the bet, then activate the option and bet money at the touch of a button.
How do I know the coefficient on the exchange?
To do this, just go to the stock exchange website, open the desired event, after which the player will have access to complete information on the evaluation of quotations of the markets presented.