Betting Exchange
Betting Exchange is a platform where bettors bet against each other instead of a bookmaker, setting their own odds and stakes. A common and popular betting exchange is Betfair.
Key Points:- Back & Lay: You can back (bet for) or lay (bet against) an outcome.
- Peer-to-Peer: Other users set the odds, not a bookmaker.
- Example: On a betting exchange, you can lay "Team A to win," meaning you profit if they lose or draw.