Bet trading, also called peer-to-peer betting, is like playing video poker online it is a way for individuals to place bets along with other bettors, rather than with an online bet booking site. They do this to have more control over the parameters of the wager and to cut out the middleman, so that even though the site, known as a betting exchange site, takes a commission, the process is quick and often both bettors feel they have an advantage.
How Bet Trading and Bet Exchange Sites Work
Bet exchange sites work sort of like a combination of a typical sports betting site and an auction site where people go online to sell their old items. Through this they can be able to choose what kind of games to play just like online slots, and the extent of amount that they can bet will depend on the player. In the case of bet trading, the object for sale is a particular kind of bet. One bettor posts the odds they want, with the point spread they like and the amount of money they want to risk for whichever side they choose. Other bettors can then go online and choose from the available bets, investing as much as they want in each bet up to what is available, so that one bettor can book an entire bet or can share it with other interested parties. Just like putting Michael Vick on the game who can avoid a 10 yards loss and pick up a 10 yard gain is uncanny.
Why Bet Trading and Bet Exchange Sites Work
Bet trading works for the bettors because it helps them quickly and easily get the bets they are looking for, even if such bets are esoteric or if odds or spread bets on the event are not generally offered. Bet trading works for the online site because it does the work of the site for them. Under normal circumstances, an online sports book would have to find bettors on each side of a wager, or alter the spread or odds to get action on one side or the other. With bet trading, this is not necessary, because each bet finds its own bettors to take opposite sides.
Things to Know About Bet Trading
Remember that a commission will still be charged by the House, so the bet is not completely a bettor to bettor proposition. In fact, technically it is the site that is booking both bets, but the effect is that the bettors seem to be betting directly against each other.
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