Traditionally, bookmakers controlled betting systems locally. The bookmakers would set out the betting odds and the prices for players to wager on. However, the birth of the Internet has enabled changes to betting systems that blows the bookmakers right out of the water.

A betting exchange is a betting system that is an innovation of the Internet. The player now has control over the odds, which are chosen by them instead of by a bookmaker. Conditions are more favourable to players as they compete amongst themselves rather than against the bookie.

Betting exchanges are used in some betting sites that offer players a chance to wager on horse races. Players’ place bet prices not only on winning horses, but also on losing horses. For example, one person might wager that a particular horse will win a race, but another person might think that the same horse will lose. If the player who thinks the horse will lose likes the betting odds that the former set out, and then wagers in favour of the horse losing, a bet is matched.

Players Are In Control

As previously stated, betting exchanges offer a revolutionary change to betting systems where the players are in control of the odds and wager prices. This new betting system has turned previous systems upside-down.

Players Bet Against Each Other

Betting exchanges function on an offer and counter-offer system of betting where players will offer their own odds and bet prices, and then other players will come to count-offer these odds. Once both sides reach an agreement regarding the odds and the prices, then the bet is matched. One of the highlights of betting exchanges is that no matter what the outcome of the race is, the player always wins.

Players Always Win

It may seem hard to believe, but the player always wins when betting with this system. However, closer observation of the foundation of betting exchanges makes it obvious why the player always wins. Betting exchanges offers players a chance to control the odds, and shrewd players will be able to predict the kinds of odds that will be in their favour.

As can be imagined, betting exchanges can be very attractive to all kinds of players, from players who are just looking to wager a couple of dollars, to players who want to wager thousands of dollars.

Another interesting aspect of betting exchanges is that players can place their bets in the middle of any race. This feature makes betting systems a battleground of intense, high-energy action where players need excellent analysis skills that must be employed in real time if they want to come out on top of their competition. Betting tips for players interested in fine-tuning their skills, or who are just starting out starting out on betting exchanges, are available on the Internet.