Bet exchange

One of the amazing outcomes of the transaction of bookmakers to the internet is a whole new type of betting, never seen before. Bet exchange is just like any other exchange but the commodity exchanged is bets! The exchange is being made with the help of online bet brokers the make their income of commission taken from the net profit (non taken from net loses). The exchange is made by betters placing various bet offers which need to be met by other betters. In any exchange one of the betters always acts as the backer (the one betting on a specific team) and one as the layer (the one offering the bet and thus supporting all other possible outcomes).

The concept was first brought to life during the year 2000 in the UK and immediately obtained amazing success. Many gamblers who have been restricted by regular bookmakers (usually for winning too much) found their haven in online betting. This method of online betting gives many prospects for smart betters and also the chance to find amazing opportunities for novice betters.

At certain points bet exchange has experienced some criticism from regular bookmaker, much of it focused on corruption accusations. To the view of traditional bookmakers, the fact bet exchange offers the opportunity to lay bets may cause sports corruption. Of course all of those claims have been based upon commercial interests and no real concern. As a response most of the online betting brokers proved that they are fully cooperative with legal organizations and sport's teams.

Tom Miller, Editorial Staff, 29.09.2005