Despite how good or bad you are at placing bets and winning, you may be better off using a betting exchange rather than a bookie, even if you ignore all the extra advantages and remain a punter plain and simple. The principal difference between placing a bet with a bookie and placing one on an exchange is the price you will get. In the main the price you get on an exchange will beat that of a bookie, if you win big, you will win bigger, but by the same token, if you lose big, you will lose bigger. It will just take you longer to run out of money and it is therefore up to you how you fare.
A question often asked by punters is why should exchange players pay commission on their bets? The days of bets being subject to taxation are long gone - if you place a bet with a bookmaker you will get paid in full to the odds you have taken. The answer to the question regarding commission is quite simple. A bookmaker's aim is that you lose, and he will frame a market around a profit margin. This means that if he manages to lay an even book, he will win whatever the result.
With online exchanges, your fellow punters set the odds. The market is extremely competitive, which means that profit margins are almost non-existent. For example, in an event with three equally possible outcomes it would be a great surprise if all three were not backed at some point at better than 2-1, while bigger events such as snooker and tennis tournaments, still feature books or around 102 per cent compared to up to 200 per cent with you average bookie.
This is one of the main reasons why online betting exchanges are so popular and successful. You are offered prices that bookies can not afford to give you, while the betting exchanges have no interest in whether or not you win or lose. They are concerned primarily that you bet. If you should win, they take their commission from you, if you lose they take their commission from the person who took your bet. Should you find yourself as a winner of a six-figure sum, the betting exchange will love you for all that commission you have generated. It has been known for betting exchanges to offer a reward in the form of corporate hospitality as an expression of their gratitude. It is highly likely that a bookie would have turned away your business long before you became anywhere near the region of a six-figure win.
Overall the betting exchanges offer you more control and the majority give you the option to place a bet after the event has started allowing you to trade your way out of a position if things are going well, or to cut your losses if things are not going so well. Either way you are in control of how and when you spend your money.
Pamela Mitchell has contributed to numerous sports betting sites and has authored several 'How To' articles at Betting Today [http://www.bettingtoday.co.uk] addressing topics that include sports betting advice [http://www.bettingtoday.co.uk/sports-betting-advice], online poker, online bingo and casino games.
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