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Betting exchanges allow you to become the bookie and instead
of betting on something to win you can bet on it to lose. Odds
for backers can be on average 20% higher than an online bookmaker.
Here are the 2 main exchanges.
Betfair
Easily the largest of the exchanges. Commission on winnings starts
at 5% and can be as low as 2% depending how much you spend with
them. The commission rate is based on a points system based on
the cumulative total profit or loss of each bet you make. The
more this is the more points you get and the lower your commission
becomes. Your points balance does decay however at 15% per week
so periods of reduced activity will see your rate go back up again.
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bet with Betfair
BetDaq
This is the second largest and oldest exchange out there. Commission
starts at 5% and can be reduced to 2%. The commission also works
on a decaying profit/loss points system very similar to Betfair
although the levels of activity to reach the lower commission
rates are less than those required by Betfair.
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