What Are The Betting Exchanges And How Do They Earn?
In recent years, several betting exchanges have made their way into the stock market. Betting exchanges unfold the concept of gambling and make it a modern, easier way to earn cool cash from the comfort of your home.
Guess what? In betting exchanges, you can cast unlimited bets and earn as much money as possible if the odds are in your favor. However, have you ever wondered what these wagering platforms get in return for making you earn?
Life is all about giving and taking, you know. Thus, as bookies create an enabling environment for punters to wager with ease, they also make their profits. In this guide, we will take a deep look at betting exchanges, unravel the mystery behind it as well as shed more light on how betting exchanges earn with their services. You can check https://thetrader.bet/ for more info.
What Are The Betting Exchanges We Have And How Do They Earn?
Betting exchanges are platforms with user-friendly options which allow punters to place bets against themselves. In betting exchanges, gamblers place their bets based on the odds available on the platform at that time. If the odds go in favor of a bettor, the bettor will win and earn some cash.
Most bookmakers earn by deducting a certain commission from each bettor’s earnings per every win or per the number of odds you cast a bet on. And while some betting trades’ platform commission rates are high, some are affordable. In short, the best betting arenas out there have a competitive commission rate.
Note that there are many betting platforms online with each striving to prove its superiority over the other. But don’t sweat it, here we’ve garnered a handful of the most reliable punting platforms you can embrace for a start. The list below also includes the commission rate of each platform.
Now, let’s explore:
1. Betfair sports
Betfair, launched in 2000, was the first betting platform to rank on the London stock exchange. Plus, Betfair’s exchange revenue skyrocketed to £393 million as of 2014. And in 2016, Betfair unified with one of the regular bookmaker platforms known as “Paddy Power.”
However, the alliance with this bookmaker platform does not make Betfair deviate from its style of betting. After the merger, Betfair remains a betting exchange platform and even one of the most popular gambling platforms in the United Kingdom.
Currently, Betfair.com is considered the largest punting platform in the universe with a large network of about 1800 workers and 3.8 million plus fans. The Betfair exchange features a broad spectrum of markets (about 500 markets) and user interfaces that are simpler for newbie bettors to navigate through.
Betfair.com is the only platform that allows players to carry out optimal pre-match operations. With a prior brief of what a match is likely to look like, you’ll be able to cast your wagers the right way.
How they earn: Per every win on Betfair, the app deducts a 5% charge. Even though it is easy to make profits on Betfair, punters still believe this platform commission is a drawback.
2. Matchbook
Here’s another go-to bookie arena for passionate punters. Matchbook offers a variety of American sports markets. On Matchbook, you can earn just by placing your gambles and watching a soccer match at your leisure. If after the match, the odds favor you, then you’ve won!
Matchbook also offers a competitive commission rate like Betfair. And more importantly, the Matchbook company is based in Cork, Ireland.
How they earn: Matchbook also earns from the commission they deduct from their bettors’ wins. And more importantly, Matchbook is the only betting exchange that offers the longest limited-time offer of 0% commission to its customers.
After registering on Matchbook, customers are entitled to a 0% commission for the first 30 days. On the 31st day, Matchbook will start deducting their commission.
3. Smarkets
Smarkets is a fast-rising betting exchange platform that has its headquarters located in London, England. The Smarkets platform is programmed with a lot of advanced trading features which makes the platform stand out amongst other betting exchanges.
Furthermore, Smarkets makes gambling affordable and more fun for bettors because of their not too high commission rate.
How they earn: When compared to the rate at which other betting exchanges deduct a commission from their customers, Smarkets is lenient and considerate. This platform earns silently and steadily.
The 2% commission Smarkets offers its customers has drawn a lot of punters’ attention to the platform. At times, when you place huge wagers, Smarkets cut back on their commission proportion and deduct a token of 1% on every win.
4. Betdaq
The Betdaq platform has been in existence for the past two decades. Plus, Betdaq is owned by Ladbrokes Coral Group which is a popular firm in the United Kingdom. Betdaq embraces a large variety of tournaments and fewer mainstream games.
The website is designed with catchy, self-explanatory graphics and user-friendly options.
How they earn: Amongst all the bookmakers we have, Betdaq makes a lot of money primarily because of its huge customer base. Also, Betdaq deducts an affordable commission rate of 2% per every win on the platform.
Furthermore, this platform sometimes compensates its users with a limited-time offer of a 0% commission fee per win.
Conclusion
Just the same way you earn with betting exchange platforms, they also earn from you. Each betting platform has its peculiar way of making profits. However, they share a similar modus operandi which involves deducting commission rates on every win.
In a nutshell, this guide reveals everything you need to know about the best betting exchanges including how they earn.
