The Ultimate Guide to Betting Exchange Software
Betting exchange is basically a marketplace where various punters get the chance to bet against each other rather than placing it against the bookmaker in traditional betting. As we all know that betting game revolves around the varying opinions of different punters thus betting exchanges allow the players to setup the odds of their choice on the different outcomes belonging to varying events. The betting exchanges offer an amazing and wide spectrum of prices for punters to choose from. The players can freely shop around and have a glance at myriad of options before settling to a satisfactory value and price for their bets. Also, if a particular player desires to lay a bet, then he/she can dictate the desired price that they are ready for offering to other exchange players.
Important Terms Associated with Betting Exchanges
- Back and Lay Bets
Back and lay bets can be counted as one of the biggest differentiators of betting exchanges when compared with traditional bookmakers. Backing a bet basically implies that you are placing your bet for an outcome of a particular event to happen. Laying a bet means to place a bet for an outcome not to happen.
- In-Play Betting
Betting exchanges allow the players to place their bets on the events that are already in progress and such types of bets are called in-play bets.
- Matched Bets
When the back and lay bets are put on the same selection of market at similar or same odds, the opposing bets automatically get matched up by the betting exchanges, such bets are called as matched bets.
When the event for which you were backing a bet happens, then you receive the winning amount which is termed as payout. Payout amount includes winning profit and your stake.
Differentiators of Betting Exchange
- Betting Against Results
The players get the ability to back as well as lay a particular outcome of an event unlike the traditional betting in which bets can only be backed. This offers punters the ability of securing the outcomes irrespective of the ending result of events.
- Revenue Generation through Commissions
When the players place ṭheir bets through the traditional bookmakers, the revenue of the bookmakers rely upon the winning and losing of the bets. But, the profit margin of betting exchanges do not depend upon winning or losing of the bets, rather it relies upon the number of bets placed and is mainly generated through the fixed commissions charged on the winning bets
- Better Odds
As compared to traditional bookmakers, betting exchanges offer a wide and better variety of odds for punters to bet upon. Players can set the odds as per their choice for various events.
- Locking Profit
Betting exchanges facilitates securing of no-risk profits for punters which means that they won’t lose anything irrespective of the outcome of the event.
As compared to bookmakers, your funds are more safe and secure with betting exchanges.
How Betting Exchanges Work and Generate Revenue?
Betting exchanges are the online marketplaces for the sports enthusiasts to bet against each other. The role of betting exchange is just like a middleman that allows the users to setup the value and price of their bet as well as take the price offered by others. It allows punters to back as well as lay bets against each other thus the exchanges remains unaffected with winning or losing outcome of the bet. Therefore the punters get better odds and efficient book as compared to what they get at traditional bookmakers who plan the betting platform while keeping in mind a profit margin. Betting exchanges earn their profits through commissions that they charge upon the bets placed thus their profit depends upon the number of placed bets rather than the winning or losing of punters. Traditional bookmakers only allow punters to back a bet but betting exchanges facilitates backing as well as laying of bets.
Why Markets in Betting Exchanges are Superior?
Markets in betting exchanges are considered quite superior as compared to the traditional bookmakers because odds that are offered on the betting exchanges are set up by the multiple users with distinct opinions who place and accept bets from other users whereas the traditional bookmakers majorly set up the odds on the basis of their own opinion regarding the winner of the match and they also adjust the prices as per the accepted wagers. The odds of betting exchanges mature in a market of high liquidity and are thus setup by the balance of opinions.
A Sneak-Peek at Advantages Offered by Betting Exchanges
- Enhancement of Winning Probabilities
The feature of laying a bet increases the winning chances of the punters, especially in matches with multiple competitors.
- No Profit Margins of Bookmakers
The bookmakers open their markets for particular events while keeping in mind their profit margins thus their odds are more inclined in favor of bookmakers.
- Easy Welcome of Winning Punters
Generally bookmakers do not welcome the winning punters and the accounts of successful punters are usually suspended or made limited for the small bets as they seem unprofitable. But betting exchanges remain unaffected with the winning rates of the punters and happily welcome winners.
- Ring-Fenced Funds
Betting exchanges always ensure that the funds deposited by the punters remain secured and maintain complete transparency regarding the transactions.
How Betting Exchange Software can be Helpful?
A feature-rich and state of the art betting exchange software helps the punters to explore and all-exclusive world of betting where they can directly bet against the other competitors and make great profits. Counting on a reliable betting exchange software provider helps the betting businesses to enhance their revenue model through a liquid market with zero operational risk which is not only profitable for them but is equally fair for their users.
What are the Necessary Features in a Betting Exchange Software?
Here are some of the requisite features that must be integrated in a betting exchange software to entice more count of audience towards it:-
- Matching Engine
- Back and Lay Bets
- Multiple Payment Gateways
- Bet History
- Safe Deposit and Withdraw of Funds
- Customization of Commission Rates
- Liquidity Management
- Admin Dashboard
and many more
All the aforementioned features are integrated in the betting exchange software developed by GammaStack. We develop a feature-rich, robust, scalable and secure betting exchange software that comes with no operational risk. We are backed by a team of technically proficient developers who can integrate multiple necessary features that can be customized on demand of the clients. Whether it’s about risk-free in-play betting or state-of-the-art announcement boards, our betting exchange software covers it all.