By:Jens
2009-10-14

    It may well be tempting to think that the rise of betting exchanges in the past ten years or so has led to a new breed of super-wealthy betting exchange guru’s. While there are a few punters who make their living trawling the betting exchanges, laying against certain selections whilst backing others, it is not really prudent to think that a novice gambler can become an overnight success on the exchanges. However there are some simple rules to follow that will drastically increase your prospects of betting profitably on a betting exchange and ensuring that your time spent on them is as profitable as it is enjoyable.

The first piece of advice is very simple and that is to ensure that you bet within your means. When you open up an account with a betting exchange company, you will deposit a sum of money into your account. This money is how much you have to use to back selections as stake money, and also to cover any bets you accept by laying against a selection. Let’s say for example you deposit £100 in your account. You can now back any market available up to £100. However if you are laying a bet, you can only accept bets that will potentially cause you to pay out £100 if the person backing against you wins. Let’s say you lay odds of 10-1 on Gymslip to win the 3.15 at Kempton and another punter takes that bet and bets £10. If Gymslip wins, he would win his £10 back, plus £100 from you, wiping out your account immediately. However if Gymslip doesn’t win, you would keep his £10 stake (minus commission). The rule here is to be sure you understand what you are laying as well as what you are staking.  Do your research and understand your markets!

Secondly, knowledge is key. If you are intending to bet, then research is a great way to ensure that you are increasing your chances. It is rare nowadays that any punter will lay a bet on something they do not know much about. You must ensure that if you intend to back against them, or lay a bet yourself, your knowledge is as good as the people you are betting against. Certainly when you are starting out on an betting exchange, stick with the markets you feel most comfortable with and have the most knowledge about.

Lastly, it is worth noting that there are a great many adverts for betting “systems” which purport to be able to offer you vast wealth and riches if you simply buy the system and put it into practice. While their promises may sound enticing, it is worth remembering that no system is 100% reliable and that often, in order to reap the big rewards, requires a substantial risk of your own capital. The best betting system you will ever have is your own knowledge and self-restraint. Knowing when to bet and where is as important as knowing how much to wager.
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hese are just three simple rules to follow to enjoy a fun and hopefully profitable time on the betting exchanges.