To understand this better let’s take an example of a football match between Manchester United and Liverpool in which you believe that Liverpool will win. Simply put, laying a bet means betting against an outcome. The second type of player is the crucial one: the player who ‘lays’ a bet. Backing a bet on an exchange is the same as doing so with a traditional bookmaker, and simply involves selecting an outcome and deciding a stake. The first is the player who places the ‘back’ bet. This means that there are two kinds of players involved in any bet made on an exchange. The main difference between a betting exchange and a traditional bookmaker is that, with an exchange, you are betting directly against other players. This guide will demystify betting exchanges, and explain the basics of how to use them to get the best value from your bets. However, they are a great way to get the best odds on sports and give yourself the best chance at winning.

Some bettors can shy away from betting exchanges and lay betting because the concept seems overly complex.

Betting exchanges are an increasingly popular and attractive alternative for many customers because they differ from the traditional online betting site offered by bookmakers.