Marketplace for customers to bet on the outcome of discrete events
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A betting exchange is a marketplace for customers to bet on the outcome of discrete events.[1] Betting exchanges offer the same opportunities to bet as a bookmaker with a few differences. Gamblers can buy (also known as "back") and sell (also known as "lay") the outcome, and they can trade in real-time throughout the event, either to cut their losses or lock in profit. Bookmaker operators generate revenue by offering less efficient odds. Betting exchanges normally generate revenue by charging a small commission on winning bets.
^"How does a betting exchange work?". 7 December 2007. Archived from the original on 19 September 2016. Retrieved 25 August 2016.
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