Betting Exchanges

From WIN-ipedia - information and strategies about winning

Betting exchanges are online betting sites that have rapidly developed over the past few years. From these sites, punters can bet against each other. The can either back a horse to win or "lay" a bet that a horse will lose at their specified odds. The Betting exchange websites acts like a broker, matching the punter with the layer. The sites take commission for this service.

There are some advantages to this, the punters get the choice of betting in the normal way or playing "[Bookmaker|bookmaker]]", controlling their odds. Betting exchanges also provide the opportunity to allow punters to bet "in-running", that is, after the race has started!

However, many people are worried that betting exchanges represent a threat to the integrity of the sport. There is concern that these exchanges have technically enabled millions of people to make money out of horses losing a race.

In order to overcome some of these concerns, the betting exchanges have signed the Memorandum of Understanding with the Jockey Club in June, 2003. Under this agreement, exchanges pass on information relating to unusual or suspicious betting patterns to the Jockey Club.