Betting Exchanges in Bangladesh
Read our premier betting exchange guide and learn what they are, how to use them, and compare the best betting exchanges available in Bangladesh.
Best Betting Exchange in Bangladesh
Those who wish to try using a betting exchange have many options available although not all of them are available in Bangladesh:
- Betfair Exchange
- Dafabet Exchange
- Betdaq Exchange
- 1xbet bet exchange
Next, let’s look at each of these betting exchanges in more detail.
The world’s largest betting exchange, Betfair is synonymous with this type of bet.
A large number of sports and markets make Betfair arguably the best place to trade.
Betfair also has an attached sportsbook in Bangladesh, which is ideal for those who want the best of both worlds when they are looking to win bets before the big game.
Founded by Andrew Black and Edward Wray in 2000, Betfair is a market leader in the world of betting exchanges
The company merged with Paddy Power in 2016 which made Betfair even stronger – it’s a place to start for those new to the betting exchange game. But, unfortunately, the Betfair exchange is not available to players from Bangladesh.
Claiming to be Asia’s leading online betting site, Dafabet’s creation of its own exchange is likely to become a popular move among sports fans across Bangladesh.
Like many betting companies from Asia, Dafabet has used sports sponsorship to increase its public presence.
While the company has sponsored snooker events, it is perhaps best known for linking up with major football clubs including Sunderland and Celtic.
The Dafabet exchange was launched in April 2018 and offers a variety of sports including cricket betting, football and horse racing, as well as basketball and tennis.
The good thing to point out here is that the Dafabet exchange is also fully mobile optimized. This means it is possible to check all the latest odds on the go via the betting app on your smartphone.
Commonly referred to as the second-largest betting exchange in the world – behind Betfair – Betdaq is another interesting site for those looking to get into trading.
One of the reasons many people choose to use Betdaq over Betfair is because the site offers lower commission rates on the exchange.
While Betfair charges a standard commission rate of five percent, this drops to just two percent at Betdaq. While it may not seem like a huge difference, those who frequently use betting exchanges will see a significant amount of extra profit if they can use a site with lower commissions.
1xbet Bet Exchange
The last betting exchange we chose here is 1xbet, which is another great option for players from Bangladesh.
Although there is a low commission rate on the 1xbet betting exchange, the lack of sports and markets compared to some other sites is a considerable disadvantage. As a result, there are probably better options out there than 1xbet betting exchange.
Betting Exchange Explained
Betting exchanges are an increasingly popular way for people to bet on sports, and they work in a different way than using Bangladesh bookmakers or betting sites to place bets. But with benefits like better prices, it’s clear to see why people love betting exchanges.
Getting started with betting exchanges can be a challenge for newcomers. It can be confusing to know where to start with placing bets on betting exchanges. This is where we come to help, with this complete guide to betting exchanges in Bangladesh.
What is a Betting Exchange?
Betting exchanges are an alternative way to place bets on the big sports action of the day.
Instead of bookmakers, who offer punters prices on various markets, users bet against each other on betting exchanges.
Sites like Betfair allow people to bet on an event that is happening – and against it happening. This means there is more flexibility to use a betting exchange compared to a bookmaker. A good comparison is to think of betting exchanges in a similar way to internet auction sites.
On websites like eBay, buyers and sellers are matched for different types of products.
In betting exchanges, bettors are matched in the same way. Due to the less overhead associated with betting, betting exchanges tend to offer their customers better value.
But how do betting exchanges work? Let’s see how they work in more detail.
How Do Betting Exchanges Work?
As we’ve alluded to, betting exchanges allow sports fans to bet against each other. This goes through a process called backing and laying, which we’ll cover later.
In standard bookmakers, they set the odds of certain events happening. It is up to the player to decide if they want to take that price or not.
But in betting exchanges, the process does not involve bookmakers. Instead, players set a price and other users can decide whether it represents good value or not.
The betting exchange then takes a deduction – known as a commission – from each winning bet. This is how they make their money. The commission is usually still less than the betting margin.
After placing a bet on a betting exchange, it is also possible to cash out effectively using the placing mechanism on the site. So, what exactly is backing and laying?
Support and Laying on the Betting Exchange
Using a betting exchange involves understanding two key terms: backing and laying.
Betting back is betting on an event that occurred. For example, betting on Manchester United to win a game in the English Premier League would be a return bet.
But if you don’t think United will win, you can choose to place a lay bet. This means the bet is a winner if the result is a draw, or United lose.
In order to place a bet again on the betting exchange, another user must agree to place the bet. This is how betting exchanges work in practice.
Some markets will have more money in them than others. This makes it easier to place bets again. In markets without much interest, the matching process may take more time.
Users can choose to use betting exchanges to lock in profits from betting back at the bookmaker. By laying out the same results, it is possible to guarantee winning cash no matter what. Backing and placing bets on betting exchanges is also sometimes referred to as trading.
Commission on Betting Exchange
Betting exchanges cannot profit in the same way as bookmakers, so commissions are what they use to ensure they can keep the cash.
The commission rates differ by a significant margin across the various betting exchanges available for use on the internet.
The commission is a deduction from each winning bet and is usually set between zero and five percent. Sometimes, strong users of betting exchanges may need to pay a slightly higher commission rate as a result of the amount of bets they place on the platform.
There is no way to escape commission payouts, with players simply needing to treat this number as if it were equivalent to the betting margin a traditional bookmaker maintains.
Pros and Cons of Using Betting Exchanges
As with using traditional betting, there are pros and cons to using a betting exchange. It is very important to take this into account when deciding whether to list on an exchange or not.
The advantages of using a betting exchange include the fact that the available betting odds tend to be better. For those who place a lot of bets, even a small price difference can be very important.
Other pros include the fact that it is possible to lock in profits from other bets on the exchange. This is for more advanced bettors but is certainly a useful way to make the most of betting exchanges.
In-play betting on betting exchanges is also a solid route to profit for players who know what they are doing and have a lot of experience in this area.
However, there are some cons to be aware of as well. When placing a bet with high odds, the liability – the amount of money you can lose – is likely to be very significant. As a result, placing large bets on exchanges should be treated as a betting method only for serious players.
The commission charged on your winning bet is also a loss. It is important to keep the commission rate in mind when considering what steps to take on the exchange. On the other hand, there is no betting margin to worry about, which might balance this out.
Betting Exchange Tips and Tricks
Anyone ready to start using betting exchanges should spend a little time researching some of the top tips, tricks and strategies for these sites if they hope to make solid profits.
First, it never hurts to register with a number of different betting exchanges. In fact, this may be an advantage and you can take advantage of the high-value free bet sign-up offers. Just like with betting sites, having multiple options makes it easy to find the best price for a particular bet. Remember to factor in commissions.
Most betting exchanges these days have sportsbooks installed, so this can provide the ideal opportunity to back and then place a bet to lock in some guaranteed profits.
Keeping a close eye on how the odds and prices are is the key to successful trading on the exchange. Odds tend to move much faster on exchanges than at traditional bookmakers. This means those who connect and watch with beady eyes can see opportunities to make a quick profit.
The key to success in the betting market is not really about predicting the outcome of the game. It’s more about being able to accurately guess whether the odds on an event will go up or down. The market tends to work in a predictable way – the odds shorten when a lot of people are in favor of a certain bet.
Advanced Betting Exchange Strategies to Try
Among the various advanced strategies that can be used on betting strategy is the tactic known as dutch.
This involves covering a number of different outcomes, for example supporting the top two or three horses in a race. By doing this, players can lock in some profits – as long as one of their picks wins.
Another common betting exchange strategy is to back the favorite a few days before the game or race. The price will usually drop before it starts, providing an opportunity to put it down and lock in profits. This means money can be made regardless of whether the favorite wins or loses.
The aim of the game when trading is the same as playing in the stock market. The goal is to buy low and sell high. Simply by backing and placing at the right time, it is possible to win money regardless of the outcome of a particular sporting event.
Most people who are successful in betting exchanges choose to focus on one sport. By doing this, it is possible to build a large knowledge bank that ensures it is easier to make a profit.
Those who play multiple sports on betting exchanges will find it more difficult to develop this skill, which can make it even more difficult to earn cash this way.