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The best bets and resources to make you more profitable
For those of you who are unaware of what a betting exchange is, I would first recommend checking out our high-level explanation in this article here.
Essentially, the long and the short of it is that a betting exchange is a peer-to-peer betting market. Instead of placing a bet against a sportsbook or the “house,” you are instead placing bets with other individuals.
Betting exchanges can be great to use because the vig is often much, much lower than a regular sportsbook. The reason for this is that there is no greater entity that is charging juice to the odds.
Instead, you are placing a bet with another individual. The way exchanges make their money is they generally take a small cut of the winnings, often 2%. That is still lower than the juice on a normal -110/-110 market, which is just under 5%.
Aside from the lower vig, betting exchanges, and specifically, Betfair Exchange, can be great resources to help sports bettors find profitable bets.
Due to the fact that Betfair Exchange is a market that accepts bets from individuals, we have real-life proof of how popular a certain bet is. Tracking where money is going in an exchange is a great way to track sharp money. Betting exchanges also don’t have the same limits that regulated sportsbooks do, so a significant amount of money can be exchanged with one individual bet.
Take for example this screenshot below, taken from Betfair Exchange on a US Open tennis match.
The terminology and the decimal odds can be confusing, but luckily there is a calculator on OddsJam that can convert decimal odds to American to easier understand what you are seeing.
The “Back” option means that is the event that you are betting on occurring. When you “Lay” a bet, that means you are betting against that outcome. So, in the screenshot above, if you Back Nick Kyrgios, that means you are betting on him winning the match.
The numbers below the decimal odds tell us the amount of money that has been wagered on that outcome. So, in this screenshot, we see that significantly more money has been wagered on backing Kyrgios at those odds. This gives us confidence that the sharps are backing Kyrgios in this tennis match, and that — depending on the odds — we should also feel confident backing him.
This can also be used on more than just moneyline bets. The screenshot below is for a Week 1 NFL game between the Bills and the Rams.
This screenshot shows us that the main line for this game is Bills -2.5. As we can see, there isn’t nearly as much liquidity on either team at that price.
With that said, a half point in either direction changes the confidence level. If we move this to the Bills -2, we see a lot more money on individuals willing to back the Bills at that price. Same thing if we move the spread up to Rams +3. The liquidity changes to be in favor of the Rams at that price.
Overall, Betfair Exchange is another tool that you can add to your toolbox of sports betting resources. It is a great way to see, in terms of real money wagered, what markets and bets the sharpest sports bettors in the world are confident in.