So you are most probably familiar with bookmakers and traditional betting shops. A betting exchange is a newer more modern concept that flourished with the popularity of the internet.
A betting exchange matches up punters who want to bet on a particular outcome with each other. You can view current standings in order to find opportunities and not only bet on something happening but also bet on it not happening.
With a bookmaker you bet against the company, so the bookmaker Coral for example would allow you to bet on the outcome of a football match. If that match went the way you bet it would then Coral would be out of pocket as they would have to stump up the money to pay you. If you won then you would lose the money you bet with them. A betting exchange on the other hand would pair you up with another person who wishes to bet the opposite direction to you, they would keep a percentage of the money bet by both parties to cover there costs (and to make them a profit of course).
The Betting Exchange’s Role In Matched Betting
Using a betting exchange during your matched betting is instrumental in matching your back bet with a lay bet. This way you can qualify for your free bet while being almost break even on your first bet, a very small loss leading to a large free bet/s.
Finding one with a special offer of some kind is key to ensuring your profits aren’t eaten into with fees. You can find a list of the betting exchanges below along with current deals.