Pros/Cons of Exchanges vs Sportsbooks

[new2betting]

Do most of you guys use "Exchanges" or the traditional sportsbook?

Which are you more active at?

I still have to see a BIG advantage of using an Exchange.

Please enlighten me and others that would be thinking of betting on an Exchange.

The "commission" issue and the "liquidity" issue is something important to consider, right?

Lastly, are these the top 3 exchanges or are their others worth checking?

Betfair
Betdaq
Matchbook

[bigboydan]

I actually like the exchanges myself, because you can get a great price on a game.

I definitely like Matchbook myself. I Just wish I could play at Betfair, but since I'm a U.S. citizen I can't. Another exchange you might want to check out is Mansion, if your not a US citizen.

[jjgold]

Exchanges are more of a Euro thing and not even close to successful in the usa, Matchbook is fair.

Yes you get better prices most of the time but again it comes down to volume, if you bet a few bucks a game exchanges are fine and matchbook is great.

[Arilou]

The big advantage of an exchange is that you can expect to get the best price at an exchange (even after commissions), and if you keep a keen eye out for mistakes or players who are being aggressive you can do often end up betting 'for free.' A second advantage is the flip side of liquidity issues: If there are people to match you, you can bet any amount, and if you're willing to lay the standard -110 (via -108 + 2%) at Matchbook on a major event you can get effectively unlimited amounts of money in because people will happily arbitrage your offer elsewhere. In general, if you bet major events then the only reason you ever have a liquidity issue is the desire to get reduced-juice prices from the exchange. At the market middle (call it +100, plus 2% commission for -102) YMMV. At effective -105, you should expect to fill at least a few thousand and often the sky will be the limit. Push harder and you'll quickly find that you have all the action you want - it will stop when you've caused a steam move at other books. If the natives get restless, the natives get action. Players are Matchbook and other exchanges are very, very price sensitive. The other big advantage of an exchange is that you are Matchbook's friend rather than their opponent. They will never limit cap or kick someone out because there's no reason to do it.

The downsides of an exchange are important, too. First, the exchange is under no obligation to post a reasonable offer on anything. If you like to bet small or odd things - props, parlays, teasers, quarters, alternate lines, obscure sports - then an exchange is unlikely to give you a lot of action or very good prices. Second, the exchange requires skill to maximize it (although you can still get good value without doing so) and can be punishing if you put out offers and make mistakes. Be very careful making offers until you are used to the interface of the exchange you are using. Third, the line at these places tends to be sharp. You won't often get truly soft lines unless you're prowling for a typo, although it does happen.

In general I feel that for those who prefer straight wagers on the main lines of major events (all NBA/MLB/NFL/NCAAF, major/TV events in other sports) then Matchbook is the best out left for Americans. For non-USA, BetFair is supposed to be quite good and Pinnacle will likely be #1 for a long time.

[Dark Horse]

Exchanges are the new format. They will replace the normal books, and force them into an exchange or low juice format as well. Just a matter of time. The internet makes it inevitable. Doesn't mean all exchanges will do it right. You still need to run a very sharp operation; something that Tradesports and Mansion didn't get. Matchbook has the WSEX edge so my money is on them.

[ShamsWoof10]

This is an interesting topic for me... When I used to arbitrage I was going to look into them... I am a little leary because I do not understand it but I intend to and to try it out... I don't arbitrage anymore because there doesn't seem to be books to arb. with now Pinny. is gone and the books just seemed to hassle you too much so it didn't seem worth it... If anyone still thinks so and has advice please let me know... Although I never actually used it I tend to agree with the majority that it's a great price but takes getting used to and their are issues like liquidity and special bets... I also agree that most or all the books will go exchange style soon... Exchanges are limited but they are still in their infancy too so I would say there is more good things to come... I spoke with a guy in the UK who says Pinnys. limits now have some odd number like 4285.71 for college and 42852.71 for pro.. That's odd it used to be whole numbers like 30,000... Any insight on this..?

[justbet]

matchbook live betting is the best. it changes after every play and pretty often you can find someone who thinks the sky is falling and you get get some insane numbers on your bets.

[datek23]

matchbook live betting is the best. it changes after every play and pretty often you can find someone who thinks the sky is falling and you get get some insane numbers on your bets.

I remember last week when Dallas was favored by over 12.5 against Miami. Miami was down big in the 4 quarter and made a miracle comeback for only spread purposes. I saw Miami odds where 40-60 times tthe normal during live betting. A 100 bet would have returned you over 4k. Miami was down by close to 30 and the last five minutes they went crazy. So they lost by 12 points and beat the spread and people that placed the bets made huge $$$$$..

[Dark Horse]

Another good thing about Matchbook. Free transfers between WSEX and Matchbook.

[jjgold]

Darker I never knew that

thanks Pal

[new2betting]

Thanks guys for all the informative inputs.

I think I am "un-educated" in the ways of how to maximize the benefits of the exchanges that is why I didn't see the "bigger" picture.

For some reason, my country does not work at BetFair eventhough I have a moneybookers & click2pay account.

Will be checking-out your highly-recommended Matchbook and the lesser-recommended Betdaq.

I guess the professional bettors are the ones that can maximize profits with these exchages since they are constantly watching the lines.

But for recreational "put 5 bets and then wait the next day" types, they would rather just put on the sportsbooks.

By the way, someone recommended Mansion but as far as I know, they closed their exchange already.

Is there a reference on how to maximize the use of Exchanges?

I saw this blog about betting on exchanges and I can't seem to understand the terms.

[Santo]

Mansion exchange still works, just not for Americans.

[new2betting]

Mansion exchange still works, just not for Americans.

Thanks for the info. You are correct. They closed their sportsbook and switched to pure exchange.

[pags11]

I suggest a mix of exchanges and regular books...you need the overnight lines from the books and the low juice from the exchanges...

[new2betting]

okay. opened at matchbook, mansion and betdaq. Betdaq has the most variety.

I do not still see any advantage since I compared the lines to Pinnacle and Pinnacle still had better lines. Maybe its the "timing" or something.

I also do not understand Mansion's "no commission" in "buying". What does that mean?

[durito]

i'm still wondering why, you as a non us citizen needs to try all these places.

you can play at pinnacle still. aside from that you really only need another out or two.

most of us would give up all of our present books to get our pinnacle account back.

[onlooker]

most of us would give up all of our present books to get our pinnacle account back.

You got that right. Only in our dreams.

[new2betting]

i'm still wondering why, you as a non us citizen needs to try all these places.

you can play at pinnacle still. aside from that you really only need another out or two.

most of us would give up all of our present books to get our pinnacle account back.

I've read around this forum that it is good to have 5 to 6 books.

Besides, Pinnacle does not give combinations or accumulators which Bet365 or Partybets or Expekt gives.

[acw]

matchbook live betting is the best. it changes after every play and pretty often you can find someone who thinks the sky is falling and you get get some insane numbers on your bets.

It is not like that!
Their interface is either bad or they fvck gamblers on purpose. I had it happen twice that I placed a bet in-running and my screen froze for a minute. Needless to say the bet was taken, when I wanted to cancel it and **** versa. Fvck Matchbook!

[kiwi]

If one plays also bets like soccer half time betting and other special bets, also the small exchanges like Betsson and Betonbet can be rather useful.
And Betdaq is good in asian handicap soccer (furthermore it has the same tennis rules like Expekt, Bwin, Interwetten and Betathome so that there is no risk if you lay a bet and one player withdraws during the match).

[new2betting]

Okay, now I understand the benefits.

Was able to back Utah (-1) when they were up around 7 points at half-time or so.

Another thing I noticed is that it is more exciting to open and watch the odds move real-time and to know that there is an actual person on the other end of the bet.

Besides, I think exchanges are more "secure" in the sense that their exposure is minimal and that they can't lose. Money is like on "escrow" held by them and distributed to the winners. Do I make sense?

Thanks guys.

[wack]

This is an interesting topic for me... When I used to arbitrage I was going to look into them... I am a little leary because I do not understand it but I intend to and to try it out... I don't arbitrage anymore because there doesn't seem to be books to arb. with now Pinny. is gone and the books just seemed to hassle you too much so it didn't seem worth it... If anyone still thinks so and has advice please let me know... Although I never actually used it I tend to agree with the majority that it's a great price but takes getting used to and their are issues like liquidity and special bets... I also agree that most or all the books will go exchange style soon... Exchanges are limited but they are still in their infancy too so I would say there is more good things to come... I spoke with a guy in the UK who says Pinnys. limits now have some odd number like 4285.71 for college and 42852.71 for pro.. That's odd it used to be whole numbers like 30,000... Any insight on this..?

That's just the difference between dollars and pounds there. 4285.71 likely to be $8000 or similar (unless that was just an arbitrary figure).

Pinny has accepted it has to be more like an exchange with the continued growth of its YES/NO markets that it spreads on some events.

On the subject of exchanges, there isn't anywhere else where you can get at-the-money bets into six figures (outside of using Asian/Indian bookmakers) and trust to be paid straight after the event. Plus never being limited is a huge benefit if you genuinely have an edge.

Mansion still seed heavily and exchanges that have historically internally seeded have suffered and gone bankrupt. I suspect the money behind mansion may well get very bored unless things sort themselves out before the end of the sponsorship of Tottenham Hotspur.

Pinny still has the edge over exchanges for A) US Sports (although I don't use matchbook) and B) Lower juice, as most who pay 5% commission are MUCH better off at pinny on their low juice lines. Exchanges unbeatable for volume on some markets though. Orders of $500k upwards have been placed and filled on betfair which wouldn't get filled anywhere else.

[wack]

okay. opened at matchbook, mansion and betdaq. Betdaq has the most variety.

I do not still see any advantage since I compared the lines to Pinnacle and Pinnacle still had better lines. Maybe its the "timing" or something.

I also do not understand Mansion's "no commission" in "buying". What does that mean?

No commission in buying means that when you TAKE an offer that is already there (different from MAKING an offer/putting up an order) whether it is a back or a lay, you pay no commission.

If you place an order and it gets taken, you pay only 0.5% if you win anyway so its very very competitive. Nowhere near as fluid though and the market makers that spread the same markets on betfair, betdaq and mansion will offer 3.70 for example on betfair but 3.63 mansion, so those on a high commission are still better off at mansion but all the benefits are with the market maker.

[new2betting]

No commission in buying means that when you TAKE an offer that is already there (different from MAKING an offer/putting up an order) whether it is a back or a lay, you pay no commission.

If you place an order and it gets taken, you pay only 0.5% if you win anyway so its very very competitive. Nowhere near as fluid though and the market makers that spread the same markets on betfair, betdaq and mansion will offer 3.70 for example on betfair but 3.63 mansion, so those on a high commission are still better off at mansion but all the benefits are with the market maker.

Thanks for the inputs.

Another question. ... Yesterday, I was able to back Utah (-1) at "half-time" during the game when they were leading by 7. But today there was no "ongoing or live betting" on the exchanges. The "bets" were closed when the games begun.

Why were they "opened live" on the previous day?

I thought the exchanges were "live" during games so that people could bid/sell bets at different odds?

[Value]

Thanks for the inputs.

Another question. ... Yesterday, I was able to back Utah (-1) at "half-time" during the game when they were leading by 7. But today there was no "ongoing or live betting" on the exchanges. The "bets" were closed when the games begun.

Why were they "opened live" on the previous day?

I thought the exchanges were "live" during games so that people could bid/sell bets at different odds?

Not every game is available for live betting. I don't remember which exchange (I think bet fair) will show green dot on games that is available for live wagering.

[ShamsWoof10]

Can anyone looking at their pinnacle account tell me what it says for max. wagers usually just above the first game..? I might have to play around with these exchanges as they look to be what it may all eventually come to... I'm sold on betfair no doubt...