Betting Exchange Meaning – Taking Chances Against Other Bettors
A betting exchange is a type of sports betting site where bettors get to bet against each other instead of the sportsbook. This works by two sportsbook customers agreeing on the betting odds and stake and placing bets among themselves.
The betting exchange doesn’t have anything at stake, but it does take a small commission from the winner.
For example, you might want to bet on a basketball team with -7.5 against the spread. Another customer at the same betting exchange can accept your bet and bet +7.5 on the opposite team.