The first and the main difference is that you bet on bettin exchange against other people, not against the house. For example, if you want to bet, that Lyon will win the Liverpool today. You can make a bet with traditional bookmakers with an odds @2,35, and bookie will acept the bet, but you can go to betting exchange and place a bet @2,48 right now, which is available price right now, or place a bet @ 2,5 and wait when it would be matched. Your bet on betting exchange will be matched, when someone in the market will place the same amount of money against Lyon. So, if you place a back bet 100€ @2,5 and someone or more people makes lay bet (bet against) 100€ @2,5 against Lyon, then your bet will be matched. So, writing about betting on betting exchange against other people I also answered the next main difference, that on betting exchange you can bet against an outcome (that it wont happen or it's called lay bet).
Also the difference is, that betting exchange is interested, that you win your bet, because betting exchanges only get commissions from your winning bets and thats all. They don't win money, if you are loosing money.
What is the lay bet?
Lets watch an example. In correct score market you can make a bet on a correct score of the game. For example, you think, that the game will end with 2:1. In traditional bookmakers you will win your bet only, if the game will end with 2:1, if game will end with any other outcome, you will loose your bet. On betting exchange you can bet, for example, against 0:0, so you will win money, if there at least one goal is scored, because you made a bet, that 0:0 result will not occur. Hope you got that.
There's a lot of betting exchanges by this moment available, bet the biggest one is Betfair betting exchange, which offers a lot of sports markets to bet on. The next two betting exchanges are WBX and Betdaq and then goes Purple Lounge and Betsson betting exchange. They all are similar in one way- that in all betting exchanges you bet against other people and can make a lay bet. Also they all periodically offers some new customer bonuses. For latest bonuses visit our betting exchange bonus offer pages:
Sports betting exchange- Betfair
Sports betting exchange- Purple Lounge
Sports betting exchange- Betdaq
