Exchange Betting
Ever since placing wagers over the internet first became possible there have been a number of developments in the malaysia sports betting industry. Very few of these developments have had as big an impact as exchange betting. This relatively new way of betting on sporting events, which has been around since 2000, has become incredibly popular and has to some extent revolutionized the way people bet on sports.
Exchange betting essentially removes the need for a bookmaker, as it makes it possible for individuals to place wagers with other individuals. It offers a number of significant advantages over traditional methods of placing wagers, and these advantages are largely why it has become so popular. We have explained more about this peer to peer style of betting below.
Backing & Laying Explained
To understand what exchange betting is all about you first need to understand the difference between backing and laying. This is fundamental stuff, but it’s something that a lot of people do get wrong. Quite simply when you back something you are betting that it WILL happen, and when you’re laying a bet you are betting that it WILL not happen. It’s that straightforward.
How Betting Exchanges Work
There are a number of different betting exchanges and they all use slightly different platforms. However, the basic principle is the same across them all. Users choose whether they want to back a selection or lay it, what odds they want to take or offer, and how much they want to stake. Their action is then matched against someone else who is taking the opposite position.
Each time you come to place or lay a bet, you can do one of two things. You can either propose a new bet, setting the odds yourself, or you can accept an existing proposal at whatever odds have been offered. You can make new proposals or accept existing ones regardless of whether you’re backing or laying. If you’re accepting an existing proposal then the wager is struck at that point. If you are making a new proposal then the wager will only be struck when, or if, someone accepts that proposal.
At the point of a wager being struck, the exchange will deduct the necessary funds from the account of each party involved. For the person placing the bet this is the amount staked, for the person laying the bet it’s the amount they could lose if the bet wins. The wager is then settled by the exchange once the relevant event has taken place.
At the point of settling, the exchange deducts a commission from the amount being paid out. This is how exchanges make their money. The amount of commission varies, but 5% is fairly standard. It should be noted that commission is only taken from the winning side of the transaction – the losing side does not have to pay anything extra.
Anyway this is a articles that can help you know more about sports betting, in malaysia online betting, you have to have knowledge about it then you will have a chance to earn money and become
