MLB Betting Exchange
Baseball, America’s national pastime, is a significant part of the online betting industry. MLB betting turned millions of fans into bettors through online betting and Bitcoin transactions. But sportsbooks are not the only ones expanding the betting needs of each and every player, there are MLB betting exchange sites that can do something out of the ordinary. This MLB betting guide covers the pros of these exchange platforms, which you might just get a kick out of.
BETTING EXCHANGES VS STANDARD BETTING PLATFORMS
MLB betting exchange sites and standard Bitcoin MLB betting platforms are both marketplaces for customers to bet on the outcome of baseball events. The differences can be seen in the opportunities offered by both of them. Betting exchanges give more freedom to bettors as they can bet against fellow bettors in any matches—no bookie or house edge involved. These platforms make their profits by charging a small commission from the percentage of net winnings from each customer on each event or market.
Bookmakers set limits and conditions on betting activities involving but not limited to the size of bets, number of market selections, and type of bets available. Betting exchange sites, in comparison, allow bettors to place less restrictive bets, experience more competitive odds, and set their own betting conditions.
Participating in MLB betting exchanges allow bettors to play different roles from time to time, depending on what fits the current situation of the game. Traditional betting sites require the bettor to be a fixed “backer” and the bookmaker to be the “layer”, but Bitcoin exchanges offer both. You can either place a back or lay bet. Whichever you deem necessary, you’ll wait for two or more bettors to challenge your position. A Back Bet is where you put your stake on a certain outcome of the event, while a Lay Bet is where you bet against the outcome the backer bets. The one who will lose the game will pay the opposing side worth the odds agreed by both parties. Regardless of these comparisons, it is worth knowing that betting exchanges only concentrate their liquidity in a few markets so multiple parlay betting may not be possible at the moment.
MAIN ROLES OF A BETTING EXCHANGE SITE
- Acts as middleman between the backer and the bettor
(gets 2% – 4% commission from the winner’s profit).
- Chooses the betting markets available.
- Match the backers and layers for each market.
- Keeps the backers and layers’ money while the outcome is pending.
- Hands out the winner’s prize with the losers money after the result.