Betting On Exchanges In The US
Are you seeking the very best horse racing betting exchange in the US? Then you’ve come to the right place. We at CaptainGambling.com have gone to great lengths to identify the best possible exchanges available to US bettors, with the absolute cream of the crop receiving our award as the Best Horse Racing Betting Exchange. Thanks to our awards, anyone looking to bet on an exchange can access the best platforms in the industry with relative ease, confident that any exchange CaptainGambling.com names as an award winner is sure to be the absolute best in the industry – and therefore most likely to offer an exemplary betting experience to anyone who chooses to register an account.
Why Our Best Horse Racing Betting Exchange Award Is So Important
Before divulging the details of how we select the best horse racing betting exchanges on the web, we thought it would be worth spending a little time getting to know the world of exchanges a little better. Here’s everything you need to know.
Betting on the exchanges vs. Regular betting at an online bookie
Normally when you want to make a horse racing bet the process is fairly simple. You go to a couple of online bookies. You compare their odds. Then you figure out which as the best odds and place your bet. In other words, the bookmaker is in control of the odds – and you can either take them, or walk away. What’s more, you will also only be able to bet for an outcome – betting on a particular horse to win, for example. It’s not possible to bet that a particular horse will lose with a standard bookmaking experience.
Betting on the exchanges offers a very different experience. Rather than odds being set by a bookmaker with whom you then place a bet, exchanges are peer-to-peer; if you place a bet, another bettor has to “match” it. Exchanges also have a tendency to run closer to the “true” odds for a particular outcome, which makes them a natural choice for those looking to bet on horses and see where the probability actually lies – rather than where the probability + the bookmakers profit margin lies. As a result, it could be argued that exchanges offer some of the best odds in horse racing and the best horse betting system. More impressively still, if bettors aren’t keen on the existing odds, they can actually submit an offer and see if someone matches it – which offers real, genuine control over your horse racing bets far beyond what a standard bookmaker can provide.
Another difference between betting on the exchanges and at a bookmaker is the ability to bet against an outcome occurring. Known as lay betting, this practice is unique to exchanges; you can bet that a horse won’t win, rather than only being able to bet to say a horse will win. Laying is a quirk of exchanges that many bettors find very interesting, and which can add something extra to your horse racing betting experience.
One final key difference between betting on the exchanges and bookmakers is commission. If your bet wins, then you will have to pay a small fee (usually between two and five percent) to the exchange. We therefore assure that our award-winner for Best Horse Racing Betting Exchanges needs to has a competitive commission structure.
Why you have to pay commission on betting exchanges
Gambling sites online generate profit through a variety of different methods, including building a profit margin – or overround – into the odds that they set on certain races. Exchanges, however, don’t do this: that’s why the odds on exchanges are closer to the real mathematical probability of a particular outcome.
However, exchanges still have to generate an income. As large websites with significant staffing costs, a lack of overround without a suitable alternative would result in a unprofitable business model that simply wouldn’t be able to survive. With commission, however, exchanges can earn the funds they need to stay afloat, and the fact that commission is only levied on winning bets means that there’s no one-two negative blow to a losing bet.
What We Look For In An Award-Winning Exchange
When seeking to name an award winner, criteria are essential. Without criteria, there’s no way of separating the good from the bad in a consistent, precise way that is truly able to identify the gold-standard in a certain category. Naturally, then, we have devised criteria by which we judge exchanges – and here’s a glimpse into all of the factors we consider:
Liquidity is the term used to refer to the amount of money in a market in an exchange. If liquidity is high, then users can be confident that their bet will be “matched”; if liquidity is low, then a match is unlikely. Exchanges with good liquidity across a range of markets will therefore receive extra positive attention when we are deciding our award-winners.
Reasonable, clearly-detailed commission
Commission is part and parcel of betting on horse racing at an exchange, but not all exchanges are equal when it comes to how they manage the issue of commission. We expect exchanges to be forthright about their commission structure, particularly if some accounts may have commissions percentages that are different from the standard across their site – as is fairly common amongst those who bet frequently, or bet a certain amount during a set period of time. To be considered an award-winning exchange, we need a provider to offer an easy-to-understand, market-competitive commission structure.
An excellent website
We expect our award-winning exchange to offer a fast, well-designed site with intuitive navigation. Exchanges contain a huge amount of information and markets, so sifting through these options needs to be simple in order for a platform to be judged to be performing well. In addition, we also assess how secure the website is: exchanges deal with real money funds, so we expect our award-winner to be able to conduct secure, safe, and fully protected transactions from their site. Take a look at our top New York bookmakers and best Florida bookies guides for examples on how good websites should function.
Payment processing and withdrawal times
Whether betting on the best horse betting sites for cash out or an exchange, we understand that bettors want to be able to see their winnings in their own account as soon as possible: it’s a constant expectation across the world of gambling. We therefore assess the withdrawal times across all payment methods when determining which horse racing betting exchange is truly worthy of being named one of the best horse racing exchange sites currently online.
Clear terms and conditions
For the most part, betting on the exchanges should be a simple process that is not overly dissimilar from betting with a conventional bookmaker – but there are a few quirks that you will only find with exchange betting. For example, partially matched bets; it’s fairly common for only some of the amount that has been staked to match, with the rest remaining unmatched. Furthermore, there is also the issue of when unmatched bets cancel; some exchanges, for example, will cancel all unmatched bets if a horse withdraws from a race, which could mean you need to resubmit a bet on relatively short notice. While the aforementioned issues are relatively minor, they are something that bettors have to get to grips with, and we believe one of the best ways for bettors to learn to use an exchange is excellent terms and conditions. If a platform has excellent T&Cs that lay out everything a bettor can expect should a bet be partially matched or remain unmatched for a long period, then using that platform will be preferable to the stress of using an exchange where such details are difficult to ascertain.
Bookmaker or exchange – which option is right for you?
If you’re a relative newcomer to the betting world, then you might want to consider using a standard bookmaker. The betting experience is much more straightforward with such operators, and you can also try your hand at unusual bets with the best bookmaker for horse racing accumulators and use all the best horse racing tips you’ve found to create bets that your research indicates have a good chance of succeeding.
However, if you want to try something different – or are looking to access great odds and the ability to place lay bets – then visiting our award-winner for Best Horse Racing Betting Exchange could well be the right choice for you.
Still looking for more horse betting guides? Check out our horse race betting online legal and horse racing bet offers pages!
Visit our award winning betting exchange today!
Exchanges genuinely offer something different to betting at a conventional bookmakers, or even live at a sports track – and for the most part, the uniqueness of the platform is part of the charm. If you want to try your hand at exchange betting, then there’s no better place to look than our esteemed award winner. You can be sure our top choice has gone above and beyond in delivering an exemplary service, with a reasonable commission, and liquidity consistently good enough to mean that a dreaded “unmatched” bet is a rarity. So if you’re looking for a great betting exchange, look no further than the CaptainGambling.com top choice.
To see the top bookmakers for you state, check out our top Pennsylvania betting sites and best Delaware sports betting site guides.