Bitcoin Forum

I don't know if many of you guys have experience with betting exchanges where there is no interruption of a bookmaker that is determing the odds.
I personally like betting on a betting exchange more than placing bets on a regular exchange and particular for 3 reasons.

· Firstly on betting exchanges you mostly have better odds than on a regular sports book.
· Secondly you do not play against a bookmaker but by having the opportunity to back and lay bets the odds are entirely determined by the
  punters themselves.
· But my main reason I prefer to bet on an exchange is that bookmakers do not limit winning accounts. On a regular sports book it happens
  very often that your account gets locked or limited for some shady reasons but actually the real reason is because you are a winning
  player and a bookmaker doesn't make money on winning players. This is different by betting on an exchange. Bookmakers that run a
  betting exchange welcome winning and high roller players just because of the fact the 'house' takes a small % commission on all winning
  bets. So for them it doesn't matter if there are winning players because a betting exchange offers p2p bets and the house takes a
  commission. It is exactly the same as for example a crypto exchange where an exchange takes a small fee on your trades.


I love gambling with crypto but to place my bets on exchanges I am obligated to use fiat bookies like for example Betfair, matchbook or Betdaq. Cause I didn't find a decent sport betting exchange offering crypto deposits. there are a couple crypto betting exchanges like for example Fairlay and 1xbit.com but personally I think they are pretty poor quality exchanges.

I personally would like a crypto betting exchange to appear with all the features like the big boy exchanges like Betfair, Betdaq and matchbook. What do you think?

I would choose a regular sportsbook because it's what I practice ever since I started to learn sports betting.

I seem to know that there are betting exchange in the gambling world but I am not interested to try to use it, and i think majority of the sports bettor would prefer a regular sportsbook.

Had my fair share with both of them, but I'm still used to playing with regular sportsbook. It kind of feels secured (for me that is) and well, since I've used them ever since I started after all. I've tried betting exchanges myself, but it felt like they were sucking me off of my funds kinda feeling, even if I recognize their fees to be minimal and all of that.

Yeah everyone has his own opinion. I am using both on a daily basis.
I use regular sports book to play accumulators, bet builders and system bets.
And I use betting exchanges to 'trade' the betting markets.

I know there are fees involved with betting exchanges but its the same like on a crypto exchange. there you also pay a fee on every buy and sell you execute. But on the other hand I like betting exchanges more cause you do no bet against the house but against other gamblers that lay bets. And having the opportunity to trade the sports markets instead of betting it turns sport betting a little bit more into investing in the sports market. But of course that is my personal opinion.

Good points.

Yeah I definitely would go for the best odds which is mostly from betting exchange but I don't think there is one betting exchange that covers my favorite sports with good volume, so for now I'd stick to regular crypto sportsbook. Heck even finding a regular crypto sportsbook that covers esports thoroughly is already hard, let alone an exchange :D 6-7% of house edge is the standard I've seen so far. I would love to see lower just like another sport but with not that much competition in the industry, I can't complain.

I usually use the Betfair betting exchange. they apply a 5% commission on winning bets and it decreases depending on the volume you put in. I know others that apply a fixed 2% commission. I know 1 of them is offering Esports on their exchange but as you say there hardly is any liquidity on those markets.
I know a provider that has a huge offer of esports to add to a sports book but there needs to be a sport book that want to add that offer to their existing offer

Can you tell us on which betting exchange do you use ?
I have not much experienced on betting exchanges and mostly bet on sportsbooks. If the odds are better in betting exchange, i can check that too for my future bets.

Betfair is the most famous betting exchange in the world. Only negative.... for some people at least.... they do not accept crypto and a full kyc procedure is required. Other well known betting exchanges are Betdaq and matchbook.... but same here they are fiat platforms and require kyc. Currently I do not think there is a decent crypto betting exchange around. there are a couple but there liquidity is poor. So that's the reason that I choose for fiat platforms to trade on betting exchanges.

But the advantage is that on a betting exchange you bet P2P. You can back or lay a bet. By laying a bet you actually take the side of the bookmaker. So the bettors themselves act as bookmaker and gambler.

If you consider trying out a betting exchange I advice you to do some research about trading on a betting exchange. By trading instead of gambling you can turn gambling a little bit in investing.

Same. Using both doesn't really defeat my purpose or anything of the sort, and if anything else, it actually gives two different atmospheres since betting exchanges seems like a pvp kind of betting, and sports book is like betting against a bot/AI. Still, there are times when I feel like I don't really want to experience fees, and times where I want to play against others. Been playing with Betfair for quite some time now. Haven't really found anything better IMO, but I'm still trying out other betting exchanges.

I mainly play in regular sport betting sites and I haven’t had any account locked up to now because I lose regularly.If after I start to win money they limit my account I will probably move to the betting exchanges but for now they are not a gambler preferred way of betting.I have tried once but I didn’t like it because the site had not a good Ux design so I quit using them.

Though I am a newbie gambler, I would prefer to go with a Betting Exchange instead of using a Sportsbook for the reasons you have mentioned above with the primary reason being that, the exchanges are faster and have higher odds than sportsbook! Both the gamblers who are betting for and against a team or person would have a mutual agreement between the two and if either of them win the other guy lose with just a meager amount of profit going to the betting exchange.

Crypto gambling offers a wide range of merits over fiat gambling such as the transaction speeds, taxation, local regulations etc Taxation and transaction speeds pose a major problem to fiat gamblers which can be eradicated completely using a bitcoin gambling casino. I believe Sportsbet.io is one among the popular and trusted betting sites which accepts bitcoin. Either way I have never tried using sportsbet, but they have a reputation among gamblers.

Nice comparison there between a betting exchange and the usual sportsbook. Only a few posted their self-experience placing a bet on a betting exchange. No one should contradict you there since that is based on your own view and experience.

But still, as for me, it will not change my view towards playing on the usual sportsbook. I'm not really interested in a betting exchange even how many positive reviews I will read about it because it was outside of my expertise, simple as that.

Let's enjoy what we think we can give us more advantages and benefits. Since I'm into sports betting for a long time now, it's risky for me to shift just to experienced those good reviews about betting exchanges. Maybe in the future...

Good options to have now mate, we must seek other exchanges in order to choose which of them are the best. It's always an assurance for us to deal with different betting sites, and I know that in the long run we will find one of the profitable site which we want to prefer.

But don't you think that PvP exchanges need users to place bets against you? And even if they have the users, why would someone place a bet against a potentially winning team? I mean, it is possible that you say, "Bitcoin will go under $7k in 30 days" and I show up with my bet putting my money all above $7k, so we can wait to see who wins during those 30 days.

But what will happen if you and me are on the same track and all of us are supporting the same team? When we both will not have someone betting against us, how will we win something? And there is one more rule here, the more people bet on your side, the more percentage you will lose in that match so odds will get adjusted accordingly.

I guess using betting exchange requires extra ordinary knowledge in sports betting, it's like day trading in crypto IMO.Well, I don't have enough idea about betting exchange but when it comes to regular sports book, I have already played majority of the sportsbook that was announce here in the forum.

Either on betting exchange or sportsbook, it still depends on our analysis of how to get profits from these.

Since I'm not familiar with the usual betting flow in the betting exchange although I'm aware of it, I never dealt with this kind of betting yet.

Good thing that OP shares his views on that type of gambling as it's not common to see a user here who plays that type of gambling.

We all have different preferences and for me, I also prefer regular sportsbook for the reason that it is where I feel comfortable and secured betting. I’ve been betting on a regular sportsbook ever since and I already know how it works unlike if in a betting exchange wherein I don’t have any experience betting on a betting exchange but if I can try it just to know if it is indeed way better that the regular sportsbook.

Well, this is often only valid if you disregard the commission you will have to pay on your net profit. If we take a look at the Wolves-Liverpool game, you can back Liverpool for 1.70 at Betfair, which is only a 1.665 after you have paid your commission. Checking some odds comparison services, you can get 1.70 at Expekt or SBO, which are reliable bookmakers, and you don't have to pay any commission.
Same for over 2.5 goals. Back is available at 1.92 (which is 1,874 after commission), but you get 1.91 at Dafabet for example. Now with turning over lots of money, you can lower your commission, but in these mainstream markets with good volume, you will find better odds with bookmakers most of the time, if you put in the work to shop for odds.
The market where you would nearly always find better odds than at bookmakers though, is the correct score markets for example. This is because, the more outcomes, the more edge the bookmakers puts on those odds, to make it easier to balance their book.


You don't play against the bookmaker when placing your bets with them ;) You always play against your fellow punters. A good bookmaker will balance his book, have his profit no matter the outcome and pay your winnings with the losses of the other punters and vice versa.


Technically they don't limit you, but they have some other tricks in place. Some years ago Betfair introduced the so called "premium charge". Betfair was and is still facing the problem, that there is a small percentage of users (the highrolling winners) that take a lot of money out of the system, but don't put anything in. This system only works as long as there is enough fresh money entering the market. So Betfair isn't too happy with people winning loads of money and cashing that out. If you are a very good punter/trader and fulfill some criteria, that are calculated with some sophisticated formula, you would be due some weekly "premium charge" on top of your winnings. This can be up to 60% of your winnings and this is quite a lot.
Most of the punters don't have to fear this premium charge though as only the best of the best match the criteria, but it's something worth to be mentioned or considered.

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Unfortunately Betfair is not available in most countries anymore due to regulatory issues and it isn't available in my country as well, which is a pity. You can play at exchanges like Orbit for example, that just mirror the Betfair markets, but these are only available via agents. And they have no API to use trading software.

I am used to using regular sportsbooks. I am not even a regular gambler. I am enjoying gambling when I have the extra time and money. I think I will stick to where I am already familiar. Of course it is nice to discover new gambling sites or betting platforms. Might want to take a peek at it when the time allows.

Either of them will be alright, what's important now is that we do have an enough funds to bet online. Because, what I heard from other stories; folks used to borrow money in order to support their gambling activities. Much worst on scenario that, the addicted gamblers now used credit cards as their mode of investment with gambling.
Having fun and joy from gambling is a healthy thing if it was don't in moderation, but if not? It's the biggest reason why a person fails on their finances.

I do not really know the  difference between the two, but the crypto exchange example makes this sound like player vs player platform or something similar. If such exchanges don't mind your winnings, it's probably because you are not betting with them. I guess that type of betting exchange is not very popular due to  lack of adequate players on regular basis

I'd prefer sportsbook for now over betting exchanges only because I haven't tried using any of those good betting exchanges the only one i've used so far is fairlay and I agree the experience isn't the best but you do get some pretty good odds.

Betting exchanges are popular from my experience it's rare that your bets will never get matched. I think there's not much betting exchanges when compared to sportsbooks is because their profits are limited due to having the best odds.

I tend to agree with you.

Playing against other punters on the market is almost always playing against a central sportsbook. The site has less conflict of interest when it comes to holding your funds as well as processing your bets, which means that the betting exchange is significnatly less likely to use excuses such as KYC to hold up your withdrawals which is a problem with sportsbooks.

The only exception is if the betting markets don't have sufficient liquidity to take on a big bet. However, with the small limits that sportsbooks like Nitrogen provide anyway, I don't see that as a concern.

Nice to see all comments. Of course everyone has its own opinions.

Me personally like a betting exchange more than a sports book cause it gives me much more options. I can just gamble by backing or laying a selection. But a betting exchange also gives me the opportunity to scalp , swing trade or regular trade the sports markets. And that's what it makes it much more fun than a regular sports book. On a regular book you just place your bets and wait. On a betting exchange I sometimes am trading 8-12 hours on a day.
but don't get me wrong I love regular sports books as well. Beside trading the sports markets I am always up for a gamble as well and play some accumulators or system bets.

Sticking with what you fully understood makes you enjoy your stay, though there's no problem exploring for any new things but it's easier to play and enjoy with things that you already used to. Choosing between I also not a heavy gamer so I'll probably used sports book that I'm familiar with since I don't want to have any issue incase I'm done and need to quit.

I know some exchanges have options for their traders to gamble as well but didn't tried it yet.Do they offer provably fair results as a regular gambling sites offers? And also the availability of games could a reason for people to choose gambling sites over the exchanges.

I believe most of gamblers are playing on regular gambling sites instead of betting exchange or peer to peer betting platform. Main reason would be, likely gamblers don't want to wait for peer especially on new platform. I don't know exactly any reputed betting exchange but I believe it's more better than regular sportsbook. Gamblers always face so many issue with regular sportsbook like KYC and so on. Also peer to peer betting platform based on commission only, so they won't play with glambers fund if they want to run their platform fairly. So overall I am quite agree with OP, betting exchange/peer to peer betting platform is better for own safety.

With the betting exchanges the user gets the access to back and lay, which isn't possible with the bookmaker. Compared to the odds with the bookmaker these exchanges have better odds. These were the much preferred factors of betting exchanges. Very few people are used to it, because this is little complicated until we get a clear understanding compared to sports betting which is quite simple.

Maybe over the coming days there might be more such betting exchanges, right now it is the sportsbook which is found in large numbers.

Unfortunately, at the moment there is no better betting exchange for crypto betting than Fairlay. But it also has a lot of disadvantages, so there is no better solution yet how to place bets only on betting sites. The list of the best cryptocurrency bookmakers can be found here: http://goleador.com.ua/cryptocurrency-bookmakers/