How to Choose the Right Market on a Betting Exchange | Brokerstorm

Can the same opinion fit more than one market?
Let’s find out.

A betting exchange is much more than a place for back and lay betting. Every event has different ways to bet, each through a different market. Some have a lot of money available to match bets. Others have less, but they can still be useful if you know what you’re looking for.

Knowing what each market is for can help you make better betting exchange trading decisions. Let’s look at the most common betting exchange markets, how they work, and when each one may be the right choice.

What Is a Betting Exchange Market?

If you’ve bet with a bookmaker before, this will already feel familiar. 1X2, Over/Under Goals, Both Teams to Score and Correct Score are all markets. You probably just never called them that.

The same is true on a betting exchange. The difference is that each market has its own betting exchange odds, its own money available and its own level of activity. For example, the 1X2 market you’ll find at most bookmakers is usually called Match Odds on exchanges.

The name doesn’t really matter. What matters is knowing what each market can give you. Sometimes the busiest market is exactly where you want to be. Other times, a quieter market can offer something better. The trick in exchange betting isn’t choosing one over the other. It’s knowing when to use each one.

High-Liquidity vs Low-Liquidity Markets

On a betting exchange you’ll notice that some markets are buzzing, while others are much quieter. The difference is liquidity – in other words, how much money is available for bets to be matched.

Unlike a bookmaker, an exchange lets you see how much money is available at different prices before you place your bet. That gives you a much clearer picture of how active the market really is.

You’ll notice the difference straight away. In a busy market, it’s usually easy to get matched at the price you want. In a quieter one, you may have to wait, change your price, or accept that only part of your stake gets matched.

Does that mean busy markets are always the best choice?  Not at all. Every market has its place. It depends on what you’re trying to do.

Why Look at Smaller Markets?

The biggest market isn’t always the best one. Take a football match as an example. Match Odds usually attracts the most money. Markets like Correct Score or Both Teams to Score can be much quieter.

In a busy market, prices are updated all the time because many people are backing and laying at the same time. In a quieter market, prices may take a little longer to react. Sometimes, that can leave a price that looks better than it should.

This is called a price inefficiency. In simple words, the available price hasn’t fully caught up with what is happening in the market.

Of course, quieter markets come with a trade-off. You may need to wait longer to get matched, or only part of your stake may be matched at your chosen price.

You don’t have to choose one or the other. You can learn how to choose when each one gives you the better opportunity.

From Low Liquidity to Niche Markets

Low-liquidity and niche don’t mean the same thing. A market can have low liquidity simply because fewer people are betting on it.

A niche market is different, it focuses on a more specific outcome. Many niche markets also have low liquidity, but that’s not always the case. In football, that could be First Goalscorer. In darts, Highest Checkout. In cricket, Top Batsman.

Because niche markets attract less attention, prices may sometimes take longer to react to new information. If you’ve done your research, that can occasionally leave better prices available than in the busiest markets.

The trade-off is lower liquidity. You may need to wait longer for your bet to be matched, or accept only part of your stake being matched at your chosen price.

A Greyhound Racing Example

When you’re browsing a greyhound race on a betting exchange, the first market you see, after choosing the country, the track and the race, is the Win market, where most of the money is.

But besides Win, you’ll also find niche markets, like Place and Forecast, that can help you place a more specific bet if you have a different opinion, even though they have less money available.

For example:

1. “I don’t think this dog will win, but I’d be surprised if it doesn’t finish outside the top two.”
   Instead of backing it in Win, Place is probably the market you’re looking for.
2. “These two dogs look a class above the rest.”
   Rather than choosing one over the other, Forecast lets you back them to finish first and second.

Before placing your bet, check whether one of these markets fits your opinion better than Win. Sometimes you don’t need a different selection. You just need a different market.

Betting Exchange Markets by Sport

FOOTBALL

If you’re used to bookmakers, you must know that betting exchanges offer fewer special football markets. You won’t see endless options for corners, cards or player stats.

The reason is simple. A bookmaker can offer as many markets as they like because you’re betting against them. An exchange works differently. Every back bet needs someone on the other side willing to lay it. So, even if a market is popular with bookmaker users, there still needs to be enough people willing to take the opposite side for an exchange market to work smoothly.

Football gives you plenty of markets to choose from, whether you want to keep things simple or try something more specific.

Main Markets

• Match Odds – Back or lay the home team, the draw or the away team.
• Over/Under Goals – Back or lay whether the total number of goals will be over or under a selected line, such as 0.5 or 2.5.
• Both Teams to Score – Back or lay Yes or No.
• Asian Handicap – Give one team a virtual goal advantage or disadvantage before the match starts.

Smaller Markets

• Correct Score – Back or lay the exact final score.
• Half Time/Full Time – Back or lay the result at half-time and at full-time.

HORSE RACING

In horse racing, most markets are based on where the horse finishes.

Main Markets

• Win – Back or lay a horse to win the race.
• Each Way – A combination of two bets: one for the horse to win and one to finish in the places.
• Place – Back or lay a horse to finish in one of the paying places.

Smaller Markets

• 2 places – Bet on a horse to finish in the first two places.
• 4 Places – Bet on a horse to finish in the first four places.
• Reverse FC – A forecast bet covering both possible finishing orders for two selected horses.

TENNIS

Most tennis betting revolves around the match itself and the individual sets.

Main Markets

• Match Odds – Back or lay either player to win the match.
• Set Betting – Predict the match set score, such as 2-0 or 2-1.

Smaller Markets

• Set 1 Winner – Back or lay the player to win the first set.
• Set 2 Winner – Back or lay the player to win the second set.

CRICKET

Cricket has a good mix of pre-match and in-play markets, with plenty of betting happening during the innings.

Main Markets

• Match Odds – Back or lay either team to win the match.
• Match Odds Including Tie – Bet on all three possible outcomes, including tie.
• To Win the Toss – Back or lay the team that will win the toss.

Smaller Markets

• 1^st Innings Runs – Back or lay the total runs scored in the first innings.
• 1^st Innings Fancy – Bet on whether the score will be over or under a given number of runs at different stages of the first innings.
• 2^nd Innings Fancy – The same type of market, but for the second innings.

FAQ

Why do some markets have better odds than others?

It usually comes down to liquidity. Popular markets attract more money, which often leads to better prices and smaller gaps between back and lay odds.

Can I use more than one market in the same match?

Yes. For example, you could back a team to win before kick-off and then switch to the Over/Under Goals market once the match is underway. You don’t have to stick to just one market.

Which market should I start with if I’m new to a betting exchange?

Match Odds is usually the easiest place to start because it works much like a traditional sportsbook. Once you’re comfortable, you can explore markets like Over/Under Goals or Handicap.

Can I cancel my bet if it hasn’t been matched yet?

Yes. If your bet hasn’t been matched, you can usually change the odds or cancel it before someone accepts your price.

Can I bet against the favourite on a betting exchange?

Yes. One of the biggest advantages of a betting exchange is that you can either back a selection to win or lay it if you think it won’t.

In a Nutshell

At the end of the day, there isn’t a “best” betting exchange market. It all depends on the bet you want to place. Some bets simply fit one market better than another. Once you get used to that way of thinking, choosing a market becomes just another part of your betting exchange strategy.

Please bet responsibly. Never risk more than you can afford to lose.