Marc Lingard wrote: On an exchange, you can see odds being offered and odds being asked for any event.
A horse might be 2/1 with bookmakers, there might be someone offering 5/2 on the exchange, and someone asking 28/10. You can then enter the market by offering whatever price you like. If you offer 28/10 or more, it will immediately be matched with the person asking 28/10. If you offer 5/2 or less, it will join the queue and sit there until someone comes along and takes it.
So you can't specifically offer odds and make a bet with a certain person, but you can join the pool of players on either side of the bet.
Interbet works in much the same way, but only the bookmakers can offer prices. We can enter the price that we want and hope someone will match it.
very well explained....i have heard ppl say on this forum,that its not easy to make money even from exchange betting....but i would say probably they are right in saying this if they use english/european exchanges...but in sa ,i think i would make a fortune especially taking into account how easy it is here to manipulate the market.
taking stock here ,claiming a horse for a pittance and then laying to the flock that chase claimed horses is as easy as pie here...plenty bookies are exploiting this very tactic,and making money,especially the independant bookies
its a pity we being exploited in this manner here...as i think in south african terms,exchange betting is key to a stable market,because right now its just 1 way traffic
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