Sports betting platforms have been massively popularized in recent years. However, contrary to sports betting platforms, there is also a plethora of sports betting exchange software that allows gamblers to bet against each other, instead of the bookie. These sports exchanges also allow players to set the odds themselves as opposed to the traditional bookie method. These are some of the most prominent benefits of sports bet exchange platforms that are responsible for driving traffic towards these sports exchange platforms.
Sports betting is already a billion-dollar industry and a vast majority of this is accredited to the best sports betting exchange software available in the market. Gamblers and punters are gravitating towards these platforms as they provide better bets and value to them when compared to traditional sports betting platforms.
According to Statista, there are more than 25,000 sports betting businesses operating all across the globe. The sports betting and lottery market was worth $194.6 billion in 2021, up from 2020’s market value of $173 billion. Moreover, the sports betting industry in the USA generated net revenue of over $4.3 billion in 2021. The market statistics are proof that the sports betting industry is quite profitable and with the advent of modern platforms such as crypto sports betting exchange software, more and more users are moving towards betting exchanges.
What is a Sports Betting Exchange?
A sports betting exchange software is a platform that allows gamblers or punters to set the odds and bet against themselves, instead of the bookie. These platforms feature better odds and better bets than traditional sports betting platforms. It is a peer-to-peer platform which allows bettors to bet on ideally anything as long as they can find another person to take their bet. A sports bet exchange offers bettors an equal chance of winning and creating their own markets.
The accessibility of these platforms generally offers more transparency and better-winning opportunities to users, unlike conventional sports betting platforms that use bookmakers for setting odds and placing bets.
Types of Bets in a Betting Exchange
Contrary to traditional sports betting platforms, a sports betting exchange solution offers a wide variety of bets that are not available on traditional platforms. Users can bet on virtually anything as long as there is another person who takes that bet.
Back Betting
When a punter places a bet for an outcome to happen, it is known as back betting. As the name suggests, the user backs a particular outcome. For example- if you are betting on India beating Australia, you will only win when Australia loses against India.
Lay Betting
When the punter places a bet for a particular outcome to not happen, it is called Lay Betting. The punter steps into the shoes of a bookmaker and will win if the outcome doesn’t happen. For example- If a bettor bets on India beating Australia, the lay bet will win if Australia beats India.
In-play Betting
As the name suggests, In-play betting refers to real-time betting. When punters make a bet when the match is ongoing, it is known as in-play betting. These kinds of bets are generally popular in popular sports like Football, Cricket, and Basketball.
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Key Features of Sports Bet Exchange Software
In order to enhance the betting experience of the platform, there are various interactive features present in the sports bet exchange software that offer accessibility to users. Take a look at the most common features that are essential in a sports bet exchange.
| Features | Description |
| Cash Out | Bettors have the ability to cash out their bets in between matches. Moreover, a bet calculator that can calculate the value of wagers is also available on the platform. |
| Live Streaming | The live streaming feature allows users to watch live matches and place bets accordingly. It is essential to allow users to make informed decisions about bets. |
| Back & Lay Odds | The sports card exchange software features back and lay odds. Punters can decide to either back or lay a certain outcome. |
| Betting History | Users can see and manage all their past bets which are available in the betting history panel. |
| Matching Engine | A matching engine is essential to properly match the odds and bets on the sports exchange trading platform. |
| Safe & Secure Payment Gateways | The best sports betting exchange software features safe & secure payment gateways that are essential to make transactions. Moreover, these gateways offer multiple options and protect the user’s financial information. |
| Cryptocurrency Support | A sports exchange solution offers cryptocurrency support so users can make transactions using crypto without any hassle. |
| Admin Dashboard | The admin dashboard is integral in managing and monitoring all the activities on the world sports exchange platform. |
| Multilingual Support | Since an online platform caters to a global audience, it is integrated with multilingual support so users can enjoy the betting game in their preferred language. |
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Benefits of a Sports Bet Exchange
As mentioned above, sports bet exchange software offers better odds and value to users, contrary to traditional sports betting platforms. Let’s take a look at the various benefits users can reap when betting on a sports exchange.
Lower Fees
A sports betting exchange USA is user-oriented. Since there is an absence of bookies in sports bet exchanges that take a large portion of the cut, players can get maximum value at fairly low fees when compared to traditional sports betting platforms.
Two-way betting
In traditional sportsbook platforms, users can also bet at pre-determined odds and against the sports betting platform,]. However, when it comes to sports betting exchange software, users can make any type of bet they want as long as there is another bettor to take that bet. The user can choose between the back or lay bets depending on their preference. It is a two-way market where punters get maximum value out of their money.
Better Odds
Since there is no bookmaker present to set the odds, a sports bet exchange offers better odds that are set by punters themselves. As a result, users can get the most value out of their bets when they bet on a sports betting exchange software.
No Limitations
Unlike traditional sports betting software, which offers a limited amount of bets decided by the platform itself, sports betting exchange software providers offer a wide variety of bets that are user-oriented. Users can bet on virtually anything as long as there is someone to take that bet. It is a very prominent benefit of sports exchange platforms that drives the most traffic towards these platforms.
Read Blog: Difference Between White Label and Turnkey Betting Solutions
Brino Games Sports Betting Exchange Software Solutions
We are a reputed and trustworthy Sports Betting Exchange Software Provider in the USA. If you are looking to launch your own sports betting exchange software, Brino Games can help you with its robust and supreme-grade Sports Betting Exchange software that has the potential to reach millions of users and ensure a high ROI. Our sports betting exchange solutions are packed with interactive features and advanced technologies that ensure an immersive and engaging betting experience. Brino Games sports bet exchange solution includes-
- Platform like Betfair Sports Betting Exchange Solution
- Crypto Sports Betting Exchange
- Bitcoin Sports Betting Exchange
- Interactive Features
- White-Label Sports Betting Exchange
- Turnkey Sports Betting Exchange
- Boosted Odds
If you are looking for robust and secure Sports Bet Exchange Software, contact Brino Games.
Frequently Asked Questions(FAQs)
Q. What is the cost of your Sports Betting Exchange Solutions?
Ans. The cost of Sports Betting Exchange Solutions is dependent on various factors. If you want to get an exact estimate, you should contact a Sports Betting exchange software provider.
Q. What features are included in your sports exchange software?
Ans. We include all the essential features in our sports exchange solution including-
Live Chat
Refer & Earn
Multilingual
Multicurrency
Payment gateways, and more.
Q. Is it profitable to invest in sports bet exchange platforms?
Ans. Yes, users are gravitating towards sports bet exchange platforms and it is very profitable to invest in the industry.