Exchange Betting
The Asianstorm platform offers access to multiple Asian Bookies and Exchanges, including polular options like BDAQ, Fair, Corso, Mbook, Molly and Pin88. In this guide, we will help you understand how exchange betting works, so you can explore your betting options and make informed and strategic bets.
The Basics of Exchange Betting
Exchange betting is a unique form of wagering on sports where you don’t bet against a bookmaker but against other players on a betting platform. This system is called peer-to-peer betting and it creates a marketplace for bets. The players can both place traditional bets (back bets) where they bet on something to happen or they can assume the role of the bookmaker and take the opposing position and lay a bet.
Back (Bet For)
When you pick an event with possible outcomes, you select the outcome you want and you bet on it to happen. This, in exchange betting is called back bet. For example, if you back a football team to win a game, you are betting that they will be victorious. In this scenario, you have the role of the bettor, similar to how you would place a bet with any traditional bookmaker.
Lay (Bet Against)
On exchange betting, there is another bet option, lay betting. When you pick an event with possible outcomes, you select an outcome and you place a bet on it NOT happening. You are betting against it. This is called lay bet. For example, if you lay a team on a football match, this means you are betting that they will not win the match. In this scenario, you have the role of the bookmaker and you offer odds to other users on the exchange who want to back the team. If the team loses or does not win because the match ends in a draw, your lay bet wins. If, however, the team wins, your lay bet loses and as the bookmaker would have done, you have to pay the winnings of the player who backed the team to win.
Let’s take an example to illustrate how back and lay bets work
You pick a soccer game between Team A and Team B where you believe Team A will win.
In this case, since you believe that something will happen, you need to place a back bet.
You want to place 50 EUROS on Team A at odds of 2.0 (if you do not agree with the odds given, you can modify them and offers those you believe are best).
If Team A wins, you will make a profit of 50 EUROS, because 2.0 odds mean for every EURO you wager, you get 2 EUROS in return (plus your initial stake).
You confirm your bet and now you have to wait for another player on the exchange to lay it because they believe Team A will not win.
Another player does believe that Team A will not win the match and they place a lay bet of 50 EUROS against Team A at odds of 2.0 and matches your bet.
If Team A does not win or draws the game, the lay bet wins and the player wins 50 EUROS. However, if Team A wins, the lay bet loses, and the player must pay you 50 EUROS
The betting platform facilitates these transactions and makes sure that the bets are matched. They also charge a commission on all winning bets. This commission is how exchange platforms make their money. The commission rate has to be included in calculating the net profit or loss of a bet.
Placing Exchange Bets
Market Selection
Choose the event and market you want to bet on. Asianstorm provides a vast selection of sports events and markets to pick from.
Back and Lay Bets
if you believe an outcome will occur you can place a back bet, if you think it won’t, you have the unique option to place a lay bet. When you place a back bet, you are acting as the bettor and when you place a lay bet, you act as the bookmaker assuming the liability to payout the other player’s winning in case the lay bet loses.
Odds and Stake
Specify the odds at which you want to place your bet and place the stake amount. The odds are determined by the marketplace, and you have the option to either accept the existing ones or to set your own.
Matching Bets
Your bet needs to be matched with other bettors’ opposing bets. When there is a match, the bet is accepted and you are in the game.
In-Play Betting
Exchanges often allow you to place in-play bets, which means that you can bet on events even while they are in progress.
Commission
Be aware of the commission structure, as a percentage will be charged on your winning bets.
Placing Exchange Bets
Betfair is one of the world’s most prominent and pioneering betting exchanges, with a range of sports and markets. It is particularly known for its innovation and high liquidity, making it a must platform for exchange betting. Betfair is available through Asianstorm for players in regions where Betfair operates.
Betdaq is a very popular exchange in the world of exchange betting. It offers a diverse selection of sports and events to bet on, including football, horse racing, tennis and more. Bettors choose it for its liquidit and competitive odds.
Fair999 adds its own flavor to exchange betting, with a focus on Asian Handicap markets. It offers competitive odds, attracting sports bettors looking for alternative betting opportunities.
Matchbook is a well established betting exchange, renowned for its strong liquidity and competitive odds. It features a broad spectrum of sports and in-play betting opportunities making it a favorite among bettors.
The Perks of Exchange Betting
As you can easily understand from the above exchange betting often offers better odds compared to other bookmakers. You can set your own odds or accept existing ones, which gives you extra flexibility and control over your bets. You can take advantage of lay betting to minimize losses or ensure a profit. As you have access to multiple Asian bookies and Exchanges at once, you can easily find value for your bets and take advantage of price differences on different exchanges.
Exchange Betting through Asianstorm
To bet on exchanges through the Asianstorm platform, you can follow these easy steps.
First, choose a sports event that interests you. Then, click on the odds for that event. A new window will pop up, showing your betslip. In this betslip, you can see all the bookmakers available for your selection and all your betting options.
At the top of the window, you will find two tabs: “Classic” and “Exchange”. Click on “Exchange” to explore the lay options and see all the exchange platforms that offer this event and betting market. You can pick the exchange you prefer. Next, decide whether you want to place a back or lay bet. Fill in the required information, like how much you want to bet and at what odds, and then press the “PLACE” button.
That’s it! Your bet will be placed on the Asianstorm platform.
Exchange betting on the Asianstorm platform opens up a world of possibilities for sports bettors. Understanding the basics, applying smart strategies and practicing responsible betting, you can maximize your chances of success. Always remember that betting should be done for entertainment only and never beyond your means.
