The Betting Exchange

A betting exchange is a platform where individuals can bet against each other directly, rather than against a bookmaker. Users can choose to "back" (bet on) or "lay" (bet against) outcomes, setting their own odds and stakes. The exchange facilitates these bets, matching buyers and sellers. It often offers better prices and more flexible betting options, with a commission fee on winnings. Essentially, it functions like a marketplace for betting, providing more control, transparency, and the potential for better value compared to traditional bookmaker betting.