If you are familiar with traditional bookmakers, a betting exchange can appear daunting. But once you appreciate the differences, and understand how they work. A betting exchange is a marketplace for customers to bet on the outcome of discrete events. Betting exchanges offer the same opportunities to bet as a bookmaker with a few differences. You can buy (also known as "back") and sell (also known as "lay") the. A detailed explanation of betting exchange websites and how they work. Includes the pros and cons of gambling through this kind of site compared to other. Betfair earns commission from the winner's takings Return E-mail this to a friend Printable version Bookmark with: In other words, if a gambler makes full use of an exchange he becomes his own bookie but outsources the record keeping to the exchange. The fact gamblers can lay outcomes on the exchanges has resulted in criticism from traditional bookmakers including the UK's "Big Three" - Gala Coral GroupLadbrokes and William Hill. Then click on the lay side, in the following example you are laying Jordan Spieth at apps downloaden android of [8. What is lay betting? Exactly what a betting exchange is. Traders who use Betfair as their main sports exchange will have to pay a commission - but only on betting markets they win on. Tools What links here Related changes Upload file Special pages Permanent link Page information Wikidata item Cite this page. Ok — I agree, they have nicer interface especially if you are used to Betfair — BetBTC is basically a nice copy. If you've noticed the similarity, well done. Trading is backing a selection at a higher price and laying it at a lower price. An important feature of the account management system is that members can set limits on their deposits and losses.