A very popular way to place bets in betting exchanges is to follow tips given by betting experts on specific sports, markets and betting strategies. Betting exchange tips can be very useful for all types of bettors and it is important to know how to read and evaluate them.
What are Betting Exchange Tips?
A betting exchange is different from a normal sportsbook. In betting exchange platforms bettors bet against other bettors and there is no bookmaker involved. They agree on odds prices and stakes and they form matched bets where one bettor is betting in favor of an outcome and the other is betting against it.
Betting exchange tips are advice given by tipsters on how to place bets on a betting exchange. These tips can suggest which team or player to bet on or they can suggest a strategy, for example the “lay” option.
What Do Tipsters Do?
Tipsters are people that are considered experts in betting. They focus on one or more sports, they follow them, they watch games and they check how players and teams are performing. They also watch how the betting odds change in different markets in betting exchange platforms.
Good tipsters never just guess. They look at past results, injuries, team news, weather conditions, and other important details depending on the sports. They watch how people are betting and how the odds move in the betting exchange. Some tipsters give free tips, while others charge money for their betting advice.
Betting Exchange Tips Example
In order to understand better how betting exchange tips work, let’s look at an example of a football game.
Football match: English Premier League – Manchester City vs Arsenal.
Betting market: lay the draw
Tip: lay the draw at 3.80 odds.
Betting exchange commission: 5%
The tipster in this example suggests laying the draw at 3.80 odds. This means that the tipster believes that the match will not end in a draw therefore it is a good option to bet against the draw. In order for the bet to win, either team must win the game.
Some tipsters explain their tips while others do not and they just give them.
How the bet works
The bettor has bet against the draw outcome. If the game does not end in a draw, the bet wins and the bettor collects their stake multiplied by the odds price minus the betting exchange commission. In this case, the bettor would win 380€ – 5€ fee = 375€
If the game ends in a draw, the bet loses and the bettor must pay the other bettor their winnings. This is called liability and in this case, the bettor would risk to lose 280€.
How to Apply the Tip?
Bettors need to be able to reap betting exchange tips. They need to understand the event, to know the market and even more to be able to understand the reasoning behind it. As soon as they read the tip, they need to evaluate it. They need to decide whether they agree with the tipster’s tip and do their own research if needed. If they decide to go with the tip, it is time to place the bet.
Bettors need to go to their betting exchange, sign in, find the football match and place the lay the draw bet at odds of 3.80. The stake amount is exclusively on the bettors. They need to decide how much money they want to risk. Some tipsters may suggest a stake, but it is always in the bettor’s discretion how much money they will stake on the bet. As soon as the bet is confirmed and matched by another bettor, bettors can wait for the results.
Some bettors follow tips blindly while others prefer to compare the tips with their own research. Breaking down tips helps bettors very much because they are better equipped to understand how to place bets given by others and apply their advice.
In Short
Betting exchange tips from tipsters can be very useful, especially for less experienced bettors. It is important though with time to learn how to read the tips carefully and make sure to understand them before placing a bet. Combining understanding with a tipster’s betting expertise can lead to long term betting success.