There will soon be a new way of betting on the outcome of sporting events in the United States, with the arrival of sports betting exchanges as Prophet Exchange prepares to launch in New Jersey.
Betting exchanges have been a familiar part of the betting landscape in Europe for around 20 years. But if you aren’t familiar with them, what are the advantages of using them over betting with a traditional sportsbook? In this article, we’ll take a look at the main reasons why you might want to embrace the new way of betting.
Don’t forget you can also read our guide to how betting exchanges work, our glossary of the terms used in exchange betting, and find out how to take advantage of our $200 signup offer when you register with Prophet Exchange.
Get better odds on your bets
Exchange betting is all about 1-to-1 transactions. You might think that’s exactly the same as traditional sportsbooks, as an oddsmaker sets a price and you choose whether to take it or not. Except with an exchange, there are many, many more people who can set the odds for each event. Everyone has an opinion, and with more people able to have their say on what the odds for each selection should be, you’re far more likely to find someone willing to offer bigger odds than the consensus price on the betting market. If users want to get their bets matched, they will need to offer odds that will entice you to take it!