Do you love Premier League football and enjoy taking the excitement to another level by bashing the bookies with a few bets on your favourite team? If so, it’s about time to learn about Premier League exchange betting.
Whether you’re watching form the stands, in the pub, or on the sofa, Premier League exchange betting puts you in even greater control as you bid to boost your bankroll while enjoying the greatest league in the world.
Here’s everything you need to know about winning big with the exchange.
What Is Exchange Betting?
While online opportunities have altered the way in which we place bets on our favourite sporting events and markets, the fundamentals are generally still the same. The bookmaker offers odds on a set market (anything from match result or goals to corner handicap or last goalscorer), and the punter confirms their selection after choosing their stake. If they win, the bookies pay out, and if they lose, the bookies have a field day.
Thanks to betting Apps and smartphones, it’s now possible to get your bets on in a matter of seconds from virtually anywhere in the world. With exchange betting, you no longer even need to bet against the bookie. Instead, you can make money from betting against other people.
This simply builds upon the traditional idea of mates betting against each other in the pub. For example, a Liverpool and Manchester United fan might make a little wager with each other in which the winner takes £10. With online exchange betting, you connect to millions of punters from around the world to enjoy this philosophy on an infinitely bigger scale.
What more could any Premier League fan and bettor ask for?
Betting Terminology Of Premier League Exchange Betting
Before getting started with Premier League exchange betting activities, it’s imperative that you understand the terms and phrases that may crop up. In addition to the general betting glossary, make sure you know the following;
Back: Betting an outcome to happen, as you would in a traditional bookmaker.
Lay: Betting on an outcome not to happen. So if you lay a BTTS market, you’re essentially backing the BTTS – NO selection.
Commission: A small percentage of winnings taken by the betting company.
Matched: This indicates that another user or users has taken the bet.
Unmatched: Nobody has taken your bet, meaning you will not win or lose anything. This is very rare for Premier League exchange betting.
Partially Matched: Some stake has been matched while the rest is still looking for a match.
Why Choose Exchange Betting Over Traditional Sportsbooks?
Exchange betting on Premier League football has become increasingly popular over the last decade or so, and it’s not hard to see why. While both types of betting have advantages and disadvantages, here are some of the reasons punters enjoy taking this option.
No House Edge
When betting against the bookies, you need to appreciate that the markets are built to provide a house edge. This essentially means that if you back every outcome, you will lose. For example, if both selections on the BTTS market are priced at 4/5, betting £10 on both will result in a £2 loss.
Betting sites that offer exchange betting make their money through small commissions on winning bets. So, while those funds do need to be factored in your profit/loss sheet, punters on the exchange can bypass that house edge. For many, this feels like a far fairer way to do things, and can produce better odds.
Back & Lay
With traditional sportsbook betting, you are backing an event to happen. Whether it’s Manchester City to beat Tottenham or Sergio Aguero to score, you are betting on an event to happen. But what about if you want to bet on something NOT to happen.
While it may be possible to find the opposite market on a sportsbook, exchange betting makes things far easier. That’s because you can actively lay an outcome, which essentially means you don’t think it will happen. Regardless of whether it’s betting a team not to win or a player not to score, the control is back in your hands.
Most casual punters will never encounter this problem, but bet limitations are a nightmare for serious Premier League punters. When a bookie places a maximum limit on your selection, it can throw staking plans and bankroll management strategies out of the window.
When betting on the exchange, the only limits are when nobody wants to take your bet. This can be an issue for obscure matches. However, with thousands of punters betting on every Premier League market imaginable, this shouldn’t affect you on the world’s most exciting league, especially as your bet could actually be made up of several small wages against different users.
Ever placed a bet before a game or during the early stages and regretted your decision within a few minutes? While Cash Out features have become increasingly frequent on the sportsbook markets, the opportunities to get out of your bet with minimal damage are very restrictive.
Exchange betting allows you to essentially cash out of any bet by betting the opposite option. Thanks to the smart features of the software used by exchange betting sites, you can even do this when you don’t have money in the account. This in itself can be a blessing for anyone that doesn’t want to leave themselves overly exposed on any given market.
Which Premier League Markets Can I Bet On?
The exchange betting markets can be a little limited when looking at the minor leagues and sporting events. On any given Premier League match, however, you can usually find virtually all of the markets that you’d see on your favourite sportsbook. Better still, the fact you can back or lay those selections effectively doubles your options.
The most popular markets include;
1. Match Odds: The straight 1×2 market, which gives you the chance to back or lay a team or the draw.
2. Total Goals: Over/Under anything from 0.5 goals to 8.5 goals.
3. Handicap Lines: Includes Asian handicap lines for a possible refund.
4. Goalscorer Markets: First goalscorer, last goalscorer and anytime goalscorer are all included.
5. Cards: Total cards, card handicaps, player card markets.
6. Corners: Total corners, corner handicaps.
7. Team Goals: Back or lay an individual team to score a set number of goals.
8. Next Goal: Which team will score the next goal?
9. Half-Time Bets: Betting on the score or other markets, but over 45 minutes rather than 90.
10. Match Action: Back or lay certain events (goal, corner, free-kick, etc.) to occur within a five-minute spell.
With the chance to bet on both pre-game and in-play events too, any fears about struggling to find a market for your next Premier League bet can be forgotten.
How to Place An Exchange Bet On A Premier League Game
Placing your first exchange bet on a Premier League game can feel a little daunting, especially when there are so many figures on the screen, many of which will change every few seconds. In reality, it’s very easy to get the hang of, and you’ll be betting like a pro in no time.
Here’s how to successfully place your first bet.
Step 1: Find An Exchange Betting Site
While Betfair is the most commonly used betting site for Premier League exchange betting, there are others out there. These include BetDaq and Matchbook. Many of the markets are similar across the various platforms, so try testing them out until you find one with a layout that you think you;ll get on with.
Step 2: Find A Premier League Game And Market
Navigating to the Premier League game of your choice should be very easy as the world’s best league is heavily promoted by the exchange betting sites. Once you’ve opened the game itself, finding the chosen market s also fairly straightforward. If you know exactly what your’e looking for, you can search for the game or market in the search bar to make things even faster.
Step 3: Understand The On-Screen Numbers
Exchange betting odds are presented in the decimal form, so getting to grips with this is essential. While the ‘back’ and ‘lay’ sections of the page are clearly visible, you may notice that there are several numbers displayed.
- The best odds available
- Amount of money available at the odds
- Secondary odds
Every punter naturally wants to get the best odds, but you need to look at the value being shown in point two. As long as that figure covers you’re stake, you’re fine. If not, you may need to split your bet over various odds. When this happens, the betting site will add up all stakes and provide the overall (average) odds.
Alternatively, you can set your own odds by typing in the value you’re happy to accept at. So, if Chelsea are priced at 1.8 but you want 1.9, you can make that offer and see if anyone matches the selection.
Step 4: Confirming Your Bet
Once bet is confirmed, it will either be matched, unmatched or partially matched. You can cancel unmatched portions with a click of a button to refund your funds. Once matched, your bet is live. The only way out is to wait for the outcome or use the cash out feature.
5 Tips To Win Big On Premier League Exchange Betting
Here are our five simple tips to win big on the exchange while betting on Premier League football.
1. Check the odds on sportsbooks. If a bookmaker has something priced at 2.0 but you can get it for 2.4 on the exchange, your chances of long-term profits will be far greater.
2. Always conduct the same level of pre-game research that you would beforehand. Aside from traditional markets, it may help you with the exchange-only selections. If a player notoriously struggles against a certain team, laying them on the scorer market may be ideal.
3. Monitor changing odds during in-play markets, as you can strike deals at great odds using this option. Not least when you are watching the action unfold on TV.
4. Look for dead certs too. Sometimes a bookmaker may have an in-play outcome priced at 1.01 while someone on the exchange is happy to lay it at 21.0. Taking that bet essentially gives you a 1.05 on something that should be 1.01. A 5% profit for an almost guaranteed outcome isn’t bad going! But beware of the risks.
5. Don’t be afraid to lay bets. One of the main benefits of using the exchange. Embrace it.
The Final Word
Winning money from smart betting activities is the only thing that can increase the excitement of watching Premier football, and Premier League exchange betting gives you a great chance. Removing the house edge and having the chance to go against other punters (many of whom are less educated than the bookmaker traders) can only put you in a stronger position.
With the right strategies and staking plans in place, you stand every chance of turning your passion into profits!