The innovation of the betting exchange gave the gambling industry it’s biggest shake up for years. The betting exchanges totally transformed the online betting landscape and forced the conventional online bookmakers to awaken from their complacency, as they realised that us mug punters no longer needed to continue hand feeding them our hard earned cash.
I now rely on a betting exchange for all of my football trading and some of my football betting. In my opinion, they are brilliant for online betting, and my football trading couldn’t operate without them.
I actually have accounts with two betting exchanges, Betfair and Betdaq. There is a good reason for this, I use my Betfair account for my serious football trading, and I use my Betdaq account for my speculative, bit of fun bets.
Betfair currently charge commission at a rate of 5%, while Betdaq charge only 3%. The reason why I use Betfair and their 5%, is because they have more markets and far more liquidity, and for the markets I currently trade in, I need plenty of liquidity.
The 3% commission from Betdaq is great though, and as a result I am happy to use them for my speculative bets. The big games is where I have an opinion (that is usually wrong), and there is generally just about enough liquidity to get my ‘mug punter’ small bets matched in running on these games.
Unfortunately though, there is just not enough liquidity with Betdaq in the markets for my Over/Under 2.5 goals pre match trades, and Assured Soccer Profits, so I have to lump the 5% commission and stick with Betfair to trade these markets.
If you do prefer football trading to football betting, then a betting exchange account is a must. This is highlighted by the fact that Assured Soccer Profits and the Pre Match Trading, have both built and sell their trading products based on Betfair usage.
A betting exchange account is also needed for matched betting. With how matched betting works, without a betting exchange account it would be virtually impossible to implement this system.
While I’m on the subject of matched betting, Betfair offer a £20.00 free bet if your first bet loses, while Betdaq offer a £30.00 free bet if your first bet loses.
Cashing out these sort of free bets using the matched betting method is a bit of a pain in the backside. So an alternative to this is to open accounts with both, find an event with two ‘runners’ and back one with Betfair and one with Betdaq.
To qualify for the Betdaq free bet, your first bet has to be placed at odds of 2.00 (Even money) or greater. So basically find a bet at over 2.00 on Betdaq and put £30.00 on it. Try and find an event with odds of around 2.1 for this.
Then have £30.00 on the other runner with Betfair with odds of around 1.9 and have £33.00 on it. This way whoever wins, you will get back just over £61.00, and it will have cost you £63.00 to place the two bets.
But you will now have either a £30.00 free bet, or a £20.00 free bet, which you can now guarantee a profit with using the matched betting method.