30 Aug 2019
Updated: 24 Feb 2023
When you first begin matched betting one of the biggest hurdles to overcome is appreciating the key role that a betting exchange has in the whole process. Betting exchanges are what make matched betting possible as they allow us to bet against an event occurring. As well as making it possible they also make matched betting profitable!
There are a few exchange options available to you as a matched bettor, one of the best is Betfair. This doesn't mean that you should ignore the other exchange options, indeed we actively encourage you to open accounts with these as you progress but when you first start our advice is to begin learning the ropes on Betfair.
Reasons To Use Betfair
Betfair began the whole betting exchange revolution back in the summer of 2000 and truly shook up the betting world with their innovation. Customers could now set up their own odds and act as the bookie, betting among themselves. It's interface has changed and evolved since it's inception.
Other reasons to use Betfair:
- Huge Range Of Markets: Betfair has the largest selection of markets to bet on out of all of the exchanges. This means that there is always plenty of choice when it comes to betting and you shouldn't be struggling to find selections to place your free bets on
- Massive Variety Of Sports: On a similar note to markets there are a huge amount of sports on offer on Betfair. If you can think of a sport then, more than likely, Betfair will have it!
- Large Liquidity: Being the longest established exchange carries with it many benefits, one of these for Betfair are the levels of liquidity available on sporting events. Liquidity is the amount of money available in a betting market which will, in turn, dictate if a bet will match or not. If there is low liquidity you could find yourself in the situation of having an unmatched bet. Whilst this is still possible on Betfair, the liquidity makes the possibility of it happening less regular.
- Simple Interface: As mentioned earlier, the Betfair interface makes placing lay bets straight forward.
In conclusion you should look to start off with a Smarkets or Betfair Exchange account to lay your bets off with when you first begin matched betting. As you progress then look to open accounts with some of the alternative betting exchanges. This will not only provide you with a wider range of potential odds to bet on and the ability to do the ever increasing exchange promotions on offer, it will also allow you to take advantage of the excellent reduced commission offers available through Outplayed
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