Betting exchanges and bookmakers often go hand in hand, and some people might confuse these betting service providers. Yes, these betting service providers allow you to bet on sports, horse racing, and other events. However, they operate in different ways. They also have different rules.
So, before you go to Bookmaker Login, it’s best for you to understand the difference between betting exchange and bookmaker. Here are some differences between betting exchange and bookmaker you need to know:
- Betting Against Other Players vs. Betting Against the Bookie
When you use a betting exchange service, you will need to bet against other players. So, you will need other players to bet with you or against you when you use a betting exchange service. You will get paid if you win your bet against other players, and the losing players will need to pay you when you win. It’s the same when you lose. You need to pay the winners for their bet.
On a bookmaker site, you will need to bet against the bookie. So, the players will place their bets against the bookie. Whenever you win your bet, the bookie will pay you. However, when you lose, you will give your money to the bookie.
- Losers Paying the Winners vs. Bookmaker Paying the Winners
In betting exchanges, you will play against other players. You are betting your money in face-to-face competition against other players. When you lose, your money will go to other players, and when you win, other players will pay for your bet. So, there is no third-party entity involved in your betting exchanges. You will go one-on-one with other players, and you will stake your bet against them.
With the bookmaker sites, the bookmaker is the one paying the winners. For instance, in one betting session, some people will win on their bet while some others will lose. The losers won’t give their money to the winners when they lose. Instead, the losers will give their money to the bookmaker, and the bookmaker will then pay the winners their winning money. So, in this case, the bookmaker will act as a third-party entity in the betting session.
- Placing and Laying Bets vs. Placing Bets Only
Betting exchanges will allow you to place bets on specific results or lay bets on such results. So, you will have two options when you bet on betting exchanges. First, you can place bets just as usual for the outcome of a specific event. Second, you can also lay bets, meaning that you place bets on things that will not happen. For instance, you can place a bet for a 3-2 score on a sports match, and you can also lay your bet on that score.
However, on the bookmaker sites, you can only place your bet on a specific outcome. You can’t lay your bet. On the bookie sites, you will need to place your bet, and you will win only when you are placing on the right bet. There are no other ways of winning on a bookie site.
Conclusion
These are the differences between betting exchange and bookmaker. You need to know these differences, even more so if you are a new player, because sometimes people confuse these two betting service providers. Good luck!
