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5 reasons why you should consider bookmakers before betting exchanges
Do not ignore Bookmakers. Check out the 5 reasons will show you exactly why you need to keep your favourite Bookmaker betting account open and funded.
Published on 09 May 2019
Updated on 09 May 2019
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The invention of betting exchanges provided punters with something that was previously unavailable. Bettors could back and quite amazingly; lay the result of an event, which meant punters could not only decide on the potential winner of a competition, match or event, but you could now also choose when a specific result would not occur.
This change in betting behaviours challenged the ‘status quo’ (i.e. the normal bookmaker’s behaviour) and demonstrated there was another way for bettors to profit, by backing, laying and when you can do both, this permits the trading behaviour with other punters within the same betting markets.
What are the key areas where bookmakers are different form betting exchanges?
Now we all understand the reasoning behind the rush to betting exchanges over the past 10 years or so, but is betting exchanges were so good, why haven’t bookmakers disappeared?
As with anything related to gambling and sports betting, things are never that easy…
There’s lots of money involved in gambling, so the bookmaker fought back and created several nice differentiators, which have captivated most sports bettors.
Most of us, place bets using bookmakers, but do you understand why bookmakers continue to increase their popularity? If not, it’s probably good to know how you can use bookmakers in a more intelligent way to get more selection value and make better bets.
The key areas where bookmakers stand out from betting exchanges:
1. Cash out features
2. Bet on almost any event (sporting event or otherwise)
3. Wide variety of betting options and betting markets
4. Ability to place bets across any type of online gambling – not just football/soccer
5. What you see is what you get
1. Cash Out features
Bookmaker Cash Out features allow you to ‘trade’ with the bookmaker; in a similar fashion to backing and the laying features within betting exchanges. Choosing to Cash Out is a way for you to take profit or a loss depending on the outcome of the event. This would be like trading with other Betting Exchange users and locking in your profit or loss before the outcome is known.
2. Placing bets on almost any event is a big bonus for Bookmakers
If you run a Bookmaking business, you can choose exactly what betting markets and events can be placed on your website or mobile app. This means that you would control the market place and decide on the events, the odds and the maximum stakes applied to different markets.
This flexibility means you can place bets on a variety of events and different market places and you can wager different aspects of the same event. Whereas, many Betting Exchanges do not have the same flexibility and cannot create new market places without the users creating each market.
Additionally, if something happens with a bookmaker, the information is almost immediately filtered through the system; odds are changed, and users can place bets. However, this is not the same for Betting Exchanges, which rely upon market traders updating the market with new odds.
3. Promotions, bonuses and free bets
This is possibly the single biggest reason why you should consider placing bets with Bookmakers. You can use Bookmaker promotions, bonuses and free bets to test your betting model, predictions and value selections before risking any real money.
Make use of Bookmaker promotions, bonuses and free bets, but ensure you’re not betting for the sake of betting, but you’re seriously considering betting value and expected value, even if you’re choosing not to risk your own money!
4. Ability to place bets across many betting markets any type of online gambling
The ability to place bets across several options means that bookmakers are not always limited by liquidity (i.e. the amount of money wagered across the event). This means you have more betting options, even if you’re the only person to bet money on an event.
I’m sure you’ve also heard about speciality bets, where someone has ventured into a Bookmaker and asked if they would be offered odds on a random bet, such as relatives playing for their national team or another obscure bet, such as, aliens landing at the White House, etc.
Although, both examples are light-hearted, it still means that you can place bets with a Bookmaker that would be impossible for Betting Exchanges. This is another reason why you should consider the classic Bookmakers to register your bets rather than automatically heading towards the Betting Exchange.
5. What you see is what you get
Placing bets with a Bookmaker is simple. You see the odds, you wager your money and you’re paid if you win. It makes it easy to immediately understand your returns without a long calculation.
This is not the same for Betting Exchanges, which rely on commissions from winning bets and tend to reduce your winnings by 5-6%.
Therefore, the odds that you have accepted (by placing your bet) are not the real odds, if your winnings will be reduced by the Betting Exchange commission.
Betting Exchanges vs Bookmakers
Betting exchanges changed the face of betting with the lay bet, but that was not the only area, which changed the face of betting. The ability to trade and immediately return your winnings was a great invention, which also allowed punters to identify profits and losses prior to the event’s outcome.
Although Betting Exchanges are a great innovation and useful for researching liquidity and trading. They’re not the only betting game in town. Bookmakers have innovated for years and therefore, Bookmakers will continue to upgrade their offers to meet the betting demand
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