Betting Exchanges are explained. Learn what a betting exchange is, how it works and how to use and profit from a betting exchange. A betting exchange is a marketplace for customers to bet on the outcome of discrete events. . Tools. What links here · Related changes · Upload file · Special pages · Permanent link · Page information · Wikidata item · Cite this page History · Exchanges and traditional · Backing and Laying · In-play betting. Eine Wettbörse (Betting - Exchange) ist ein Prognosemarkt. Das erste Mal wurde dieses Konzept in der englischen Internetseite wewillrise.info aus dem Jahr. The trader therefore runs the risk of having a large unwanted bet on an event if he is unable to close his position before the event starts e. Importantly, the prices on a betting exchange are determined by the wisdom of the crowds, rather than being determined by a bookmaker. A betting exchange differs from a bookmaker in that it brings individuals together that want to place bets known as backing and those that want to take bets known as laying. In its simplest form, a betting exchange allows you to bet on any outcome, positive or negative. However, there are no specific betting limits on an exchange, instead the amount you can bet is determined by the liquidity - the amount available to bet in a particular market. Fallon 'lost huge lead' in race. It was founded in by Andrew Black, who developed the idea on his own laptop in his spare time. Somebody knew something was amiss with the Russian and tried to profit from it. All he needed was someone to help him begin it. Perhaps unsurprisingly, betting exchanges have proved to be hugely popular with gamblers who seek a broader range of betting options and a wider variety of odds. What Is Fixed Odds Betting? The BBC is not responsible for the content of external internet sites. This must be done simultaneously to guarantee a profit or else the opportunity could quickly cease to exist with liquid markets quickly correcting prices and bookies trying to avoid being arbitraged.