The dawn of the 21st century brought the giantization of betting since the establishment of online betting companies was the main driver of the natural evolution of traditional betting.
When in 2000 Betfair applied “exchange betting” to this development, a revolution was in the air and shook the betting space!
Indeed, by allowing punters to bet against each other instead of against the bookmaker, the betting exchange set better playing conditions than the traditional bet against the bookmakers, and enabled punters to win easier and more money.
Over the years, the punters were also evolved. Since along with the exchange bet, the mentality of the punter changed, who now saw things from a different point of view, from that of the bookmaker. The demands from the various betting platforms increased, since traditional platforms could no longer serve the new needs. So the various online companies proceeded to grant more favorable conditions regarding the bet, since the traditional bookmakers could no longer satisfy those new generations of punters.
Betfair was the originator of Exchange betting and of course remains one of its biggest exponents with the lion’s share of the online market of this kind. After Betfair, other companies were created that offer Exchange betting, big names in the gambling industry, such as Matchbook, Spreadex, Smarkets, etc.
Despite immense and growing competition, Betfair Exchange is still among the best in the industry. They remain the home of one of the broadest selections of betting exchange markets, with among the most competitive odds in the world.
The platforms of the companies in question operate on certain targeted markets since due to various reasons (mainly territorial restrictions) they are not available in the entire global market. For this reason and due to the huge demand from punters, an army of clone platforms have been created that aim to fill the gaps in the market by serving punters who do not have access to the parent platforms. These clone platforms in many cases, if not all, offer ideal conditions for betting, since their rates, commissions and overall operation are of a high level and successfully compete with the parent platforms.
In this panspermia of different platforms, parent or clones, the punter is called upon to choose which one will serve him best and with which he will be able to more easily reach his goal, which is of course none other than as possible sure and bigger profit.
In order to choose the company that will offer the most favorable playing conditions, the punter should of course do some research and comparisons. In this article we will not attempt to carry out the long process of comparing dozens of Exchange betting companies, however we will be able to point out the areas in which research should be focused in order to find the best option.
For a first approach we should focus our research on the following fields:
A) Reliability and good reputation of the exchange betting company. Probably the first thing that the candidate gambler should pay attention to regarding the platform he will choose for his exchange betting, is that it is a reliable company, with a good name that respects and honors its relations with the punter and of course that is creditworthy in the field of quick repayment of profits. A search into the operating regulations of the various betting companies will clearly inform about the way each platform operates. Also, in the various forums on the internet, there will certainly be comments that will help the interested party to obtain a more comprehensive view of the platform he is interested in.
B) Fast and valid KYC. The process of identifying the new punter on the respective platform must be quick so that he can play immediately. ID and a proof of address are usually enough to complete the registration quickly and successfully, however on some platforms the process takes a little longer.
C) The user interface with the platform. A huge factor is the form of the platform on which the punter will move during his betting activities. The platform should be simple to navigate and the various options should be easily understood by the user. A good betting exchange should also have equally good navigation instructions on its platform so that one does not waste valuable time until they understand the exact way it works and of course not to make mistakes that can cost money. To understand which platform is friendlier to him, interested party should personally look at the home pages of the candidate platforms and of course take a look at the instructions offered.
D) Betting Market and liquidity. Another important factor to consider is the market breadth of bets available. Players should find on their platform a variety of events to bet on: horse racing, greyhounds, politics, various events which together with traditional sports dominated by football, at least in Europe and Asia, should cover the needs and demands of the players. Each sporting event to bet on should in turn offer dozens, or better hundreds of betting options to satisfy all the needs of the interested punter. The liquidity of each platform is also an important factor, since if the page does not have a lot of betting liquidity, the punter will have difficulty in achieving the odds he requests.
E) Commission Rates. Each platform has its own commission it receives from players when they win. Exchange betting has significantly reduced commissions which in the case of traditional bookmakers were very large. Commissions have now dropped to around 7% to 5%, however the birth of clone platforms has dropped commissions even further to as low as 3%! The candidate gambler must look carefully at what each platform offers and choose which will be the most advantageous option that will ensure the most profit.
F) Transactional methods: Another important aspect that should be taken in consideration would be the transactional methods availability an exchange betting sites offers over a classic sportsbook. You can expect to have the chance to pay and bet with cryptocurrencies, with many respected e-wallets such us Skrill, Neteller, Astropay, Muchbetter and of course, all the classic systems, like credit cards and bank transfers / wire transfers.
G) Customer Support: In case you encounter any issues while using the platform, it’s important to have access to good customer support. Look for a betting exchange that offers multiple ways to contact customer support, such as email, skype, and of course, live chat services. The platform should have a responsive and knowledgeable support team that can give you solutions to any issues you encounter.
H) Bonuses and offers: One last factor that someone may have to consider in their search for the most suitable betting company is the various bonuses and offers that it offers from time to time to its customers, especially to those who have just registered. The signup bonus for example, may not be the number one reason to choose a betting exchange company, but it is a plus that the new punter can include.
These are, in order, the main factors that one should take into account before proceeding to register with an exchange betting company and start gambling. Everyone should spend some time doing their own research, comparing platforms and all the aforementioned elements, so that they can discover the results most compatible with their capabilities and needs.
Brokerstorm.com can offer the new punter an additional feature: By registering here one can request to be given access to almost all exchange betting sites and especially to the Betfair group with its affiliate platforms. This group is objectively the best solution in the search for the perfect exchange betting platform, and Brokerstorm.com can bring it into the hands of every interested with a simple and short movement:
Register here and start your betting exchange journey with the best terms, on an ideal platform that respects you and helps you reach success