Betting exchange games are casino table games that bettors can play on a betting exchange. Instead of betting against the house, people place bets directly with other bettors in the platform. These games are an exciting way to bet, alternative to sports betting.
What Are Betting Exchange Games?
Betting exchange games are table games where players can place bets with each other instead against a casino house or a bookmaker. In these games, bettors can either bet on something to happen by placing back bets or bet against something happening by placing lay bets.
Betting exchange games are available on Betfair exchange and other powered by Betfair exchanges such as Orbit Exchange. Popular betting exchange games are Blackjack, Baccarat, Card Derby Racing, Hi Lo, Hold’Em and Omaha Hi.
How Do Betting Exchange Games Work?
Blackjack
Blackjack is one of the most popular betting exchange games. In this game, players aim to have a hand of totals 21 or close to it as possible without going over that number. Players can bet on whether they will win, lose or whether the dealer will win or lose.
Common bet types in Blackjack
- Back to win: in this bet type, bettors bet that their hand will win against the dealer.
- Back to lose: in this bet type, bettors bet that the dealer’s hand will beat theirs.
- Lay to win: in this bet type, bettors bet against another player, saying they will not win.
Baccarat
Baccarat is one of the simplest betting exchange games. Bettors can bet on either the player’s hand, the banker’s hand or a tie.
Common Baccarat bet types
- Back player: in this bet type, bettors bet that the player will win.
- Back banker: in this bet type, bettors bet that the banker will win.
- Lay player: in this bet type, bettors bet against the player winning.
Card Derby Racing
Card Derby Racing is one of the most fun betting exchange games and it represents horses racing around a track. It is fast paced and bettors can bet on which card, that is which horse, will finish first.
Common Card Derby Racing bet types
- Back to win: in this bet type, bettors bet that their chosen card will finish first.
- Back to place: in this bet type, bettors bet that their card will finish in one of the top spots.
- Lay to win: in this bet type, bettors bet that a car will not finish first.
Hi Lo
Hi Lo is one of the easiest betting exchange games where bettors bet whether the next card drawn will be higher or lower than the previous one.
Common Hi Lo bet types
- Back high: in this bet type, bettors bet that the next card will be higher than the current one.
- Back low: in this bet type, bettors bet that the next card will be lower than the current one.
- Lay high: in this bet type, bettors bet that the next card will not be higher than the current one.
Hold’em
Hold’em is one of the most popular poker betting exchange games. In Hold’em, players try to make the best five-card hand. Bettors can place bets on who will win a hand or the overall outcome of a game.
Common Hold’em bet types
- Back to win: in this bet type, bettors bet that a player will win the hand
- Back to lose: in this bet type, bettors bet that a player will lose the hand.
- Lay to win: in this bet type, bettors bet against a player winning a hand.
Omaha Hi
Omaha Hi is one of the poker betting exchange games. In this poker game, players make the best five-card hand, like Hold’em, but they are dealt four cards instead of two. Bettors can bet on who will win or lose in the game.
Common Omaha Hi bet types
- Back player to win: in this bet type, bettors bet that a player will win the hand.
- Back player to lose: in this bet type, bettors bet that a player will lose
- Lay player to win: in this bet type, bettors bet against a player winning.
How the Lay Option Works in Betting Exchange Games
The lay option is what makes betting exchange games unique. With this feature, bettors can lay a bet, which means they are betting against something happening. When they lay a bet, bettors are acting in essence like the dealer or the house offering a bet to another player.
For example, in Blackjack, a bettor might lay a bet that a certain player will not win. If the player wins, the bet loses. If the player does not win, the bet wins. In Baccarat, a bettor can lay the banker, where they bet that the banker will lose the hand.
Similarly, In Card Derby Racing, if someone backs the Ace of Spades to win, other bettors can lay against it because they believe it will not finish first. In Hi Lo, if someone bets that the next card will be high, other bettors can lay and bet that the card will not be high. In poker games, with the lay option, bettors can act like poker pros and bet against other players’ hands.
In Short
Betting exchange games are a very fun alternative way to play casino table games like Blackjack and Hold’em. These games allow players to back or lay an outcome and bet against other players. Understanding the different bet types and how to use the lay option, bettors can add an exciting element in their betting activity.