Trade Ninja “EXPLAINED” series aim to help explain some popular Betting / Trading terms/areas.
Betting exchange sites are online platforms that allow users to bet against each other instead of against a bookmaker or the house. Here’s how they typically work:
Betting exchange sites offer users more control over their bets, as they can set their own odds and bet against other users. However, users also take on more risk as they are betting against other users, rather than a bookmaker who takes on the risk.