Bet on Goals on Betting Exchanges
Have you ever thought about what are the Goal Bets on the Betting Exchange? First of all, know that Exchange bets (otherwise, known as Cross Bets) are a type of betting in which the house simply acts as an intermediary between bettors. In this mode, it’s the bettors who set the bet, its quota, and those who pay each other the bets, in the same traditional way as when you make a bet with a friend.
What Should You Know About Betting on Early Goals?
Table of content:
- Bet on Goals on Betting Exchanges
- How do they work?
- Example of Goal Bet on Betting Exchange
- How to cross bets?
How do they work?
In order to get to know more about Goal Bets on Betting Exchange, it is essential to know more about Cross Betting. So, in cross betting, one of the bettors takes on the role of a bookmaker. This sets the condition and the quota at which the bet will pay. It’s known as a “Lay”. It’s because what it does is a bet against a circumstance happening, hence it pays according to its quota if such circumstance finally occurs.
Another bettor makes the bet following the conditions of the Lay. It’s in the same way as if it’s a classic bet. You buy the bet you propose. They call the other bettor the “backer” as well. That is because he bets in favor of the circumstance taking place, buying the bet proposed by the layer.
Live Betting on Outsiders at Betting Exchanges
Example of Goal Bet on Betting Exchange
We have two bettors, Antonio and Maria. Antonio is a faithful supporter of Barcelona, while María is a fan of Real Madrid. We are in Classic week and both would like to bet on their teams by making cross bets.
Antonio decides that he wants to act as a bookmaker, as a layer. Being a Barcelona player, he bets against the victory of Real Madrid, offering a quota of 2 for the white victory, being willing to accept up to 50 euros.
María, who’s a Madridista, sees the quota of 2 that Antonio offers. She bets in favor of the merengue victory the 50 euros that Antonio accepts as a maximum. By betting in favor she acts as a backer.
We already have 2 bettors. Each one has followed the role of layer and backer, leaving the respective bets made. What happens from this moment on? Well, depending on the result of the match, the bets would be as follows:
Real Madrid wins. In this case, María would win her bet and receive 50 euros from Antonio, who by acting as a bookmaker pays the net profit that María obtains by multiplying the 50 euros that she has bet by the odds of 2 that Antonio has established.
Barcelona wins: Antonio, as a bookmaker, wins in this case the 50 euros that María bet.
Tie: Antonio again wins the 50 euros that María bet on the victory of Real Madrid since finally the white victory does not occur and Antonio bet against Real Madrid.
Tie on Betting Exchanges – How to Have Advantage When you Bet
How to cross bets?
Placing a cross bet is not much different from placing a simple bet. We start by accessing your Bookmarker Exchange account to see whether they offer the Exchange Bet option. In the sports menu, you select the sport, the competition, and the sporting event you want to bet on. Once we have located it, we access the available betting markets by clicking on the sporting event. So far, it is practically the same as making a simple bet.
This step is when we have to decide if we want to bet for or against a certain circumstance happening. If we bet in favor we must click on the “Favor” button to open the coupon where we will enter the quota we want to bet on and the amount of money we want to play.
If we want to bet against what we have to assume the mentality of a bookmaker. We click on the “Contra” button to open the coupon where we will enter the fee at which we are willing to pay and the maximum amount of money we want to accept. The bookmaker itself calculates the risk you take by acting as a bookmaker.
- Bet in favor (back)
- Bet against (lay)
Once you’ve place bets, it only remains to wait for another bettor to buy them that they are formally made. If nobody bought them, they’d be cancelled at the beginning of the event, recovering the money put into play.
