Thoughts On Bet Trading
What are your thoughts on bet trading? Of course just like regular sports betting it involves both sports and gambling, but those ones are quite obvious. Here are some of my thoughts on the subject of bet trading.
If you are sports betting at ordinary bookmakers, you are not betting against other players – but just as in a regular casino, you’re betting against the house. Even though this is the most common way of betting on sports, there are some internet bookers that offer real bet exchange , a sort of peer-to-peer gambling amongst players.
The only way for these bookers to make money is by taking a small commission on every winning bet, usually around 5%. Unquestionable largest of these sport books is Betfair, but it is also the one with the highest
commission fees. Other sites that offer trade bets but for a smaller fee is Betdaq and Sporting Options, but they have significantly less player traffic.
Sports betting in this way is very similar to the way internet poker is played. Or at least the way the bookies make their money on the players. Since poker players are not playing against the house, the poker room takes a small rake out of every pot played as a fee for playing at their site. In bet trading, it is hard to find other gamblers willing to take on your bets. The business concept of bet trading companies is to bring gamblers together, and just like the rake in poker, they make a small amount out of every placed bet.
Furthermore, as in internet poker, the bet trader with the most knowledge of the games will be walking away with the less experienced players’ money. The house (the bookie) will be making their money no matter who’s winning, just as the poker rooms do.
Regular Sports betting
In regular sports betting, players are presented with pre-set odds from the bookie. It is a take-it-or-leave-it sort of offer, where the bookies’ edge lies in the differential between the true odds of a certain scenario and the odds presented to the player.
Finding good sports picks has always been about getting the most profitable odds for a certain outcome, and make no mistake – it still is.
As long as you are able to find someone who is willing to take on your bet, this is where you make your money in bet trading as well.
Future of Bet Trading
It is my belief that the popularity of bet trading will continue to grow. Sport bets will always attract gamblers. As the biggest bet trading companies are faced with tougher competition, commission fees will go down and make the bet trading even more profitable for the players.
The odds of bet trading are already very attractive from a gambler’s perspective, and as more and more gamblers catch on to bet trading the faster sport bettors will abandon the old form of “bookie bets”.