An Overview of Betting Exchange Sites in the USA: What to Expect

Many states in the US have legalized most forms of gambling in the nation. While sports betting is common, betting exchange USA is entirely new to most punters in this region. It is distinct from wagering on regular Bookmakers, but understanding the concept will help you know it’s also simple.

As sports exchanges are gradually emerging in the US, few bettors know about this new type of punting and its benefits. This post will give you a detailed overview of betting exchanges in the United States and what you should expect from them.

Understanding Sports Trading

Sports betting exchanges allow bettors to place bets against each other. Here, the losses are on your fellow punters, and this is because of the laying features introduced. The unique features of punting on these platforms are backing and laying. You can also choose your preferred odds with the hope that they will be matched. 

Backing is when you place a bet in support of an event to occur, while laying the same options means that it will not happen. There is also a need to match a bet to complete your wager. This means when you lay an option, another punter must back the option, and when you back, someone else must lay. 

For example, if Kansas City faces San Francisco in the Super Bowl final. You can bet on Kansas City to win, and this is backing. For your wager to be successful, another sports trader must lay the same market, meaning Kansas will not win. The process is called matching, and each stake covers the potential winning of the opposite punter. 

Since the liabilities are not on the sports trading platforms, they are the meeting point for players to meet and bet. To make a profit, they charge commissions on wagers placed on their site. Some have a fixed commission percentage, while others charge based on the event. 

Regular Sportsbooks Vs. Betting Exchange

The ultimate goal of punting is to make money and the two forms of punting help you achieve this. However, they vary in the following ways:

Betting Exchange 

Bettors determine odd sizes

Odds are determined by the bookie

The matched punter pays the winning 

You can lay in addition to bet backing 

Profits are from the commission 

Sportsbook 

Bet won are paid by the bookie

You can only back an option 

Profits are from odd margins

The bets placed are processed instantly 

Your bet must be matched by another punter for it to be successful 

Top Betting Exchange Sites in the USA

Sports betting exchanges may not be as many as regular sports punting operators in the US, but they are gradually increasing. We found some platforms and evaluated them during our research, ascertaining what they offer. Here are some of them: 

• Prophet 
• Sporttrade
• Betdex
• Smarket

Prophet Exchange

This is the first punting platform that allows peer-to-peer wagering among US bettors. Aside from partnering with Caesars Entertainment, they are licensed to operate in Indiana and New Jersey. It aims to spread the unlimited gaming experience enjoyed on the platform to other regions. 

You can lay and back your preferred matches on this site, and they have a wide range of sports in their collections. This sports trading site charges a reasonable commission on the service rendered, exposing you to excellent odds. You can even request better odds if you wish, and the liquidity for common options and matches is readily available. 

Sporttrade

This is another operator focused on providing sportsbooks and sports trading to Americans. They are licensed and based in Philadelphia, aiming to expand to other states. Aside from finding your favorite sports here, you can back and lay at exciting pricing. The commission charged is also reasonable. 

One of the unique features here is their in-play gaming with its dynamic odds. Endorsements from TechStars, Nasdaq, and other brands show Sporttrade will keep growing over the year. Provided it is authorized in your region, you can join and enjoy reading on football, soccer, hockey, and others here.

Betdex Exchange

You can also enjoy your sports trading using the Betdex platform, which is licensed in Ireland. You can trade soccer, basketball, football, baseball, and others at reasonable prices here. Unlike other betting exchange sites, they allow you to wager with cryptocurrencies, and they charge just a 3% commission. 

The incorporated decentralized technology enhances security and speed, with low cost guaranteed on all transactions. Despite being in the beta stage, many wagered on the World Cup through the platform as they aim to keep improving. You can also enjoy deep liquidity and excellent pricing when you join this platform.

Smarkets

Smarkets is an international betting exchange accommodating players from different countries, including the USA. Launched in February 2010, it is licensed and allows you to lay and back your favorite events in numerous sports. With massive liquidity guaranteed for soccer, tennis, basketball, football, and others, you have no fear of your bet going unmatched. 

You can equally choose your sports, and your wager is accepted, provided another player matches the bet. A 2% commission is charged on the platform, and you can easily deposit and withdraw on this platform. With its UKGC License and a solid reputation built over the years, punting here is safe and reliable.

Conclusion

Exchange betting in the United States is still taking Baby steps, but the sector shows a promising future. While many focus on regular punting, you can take advantage of laying options and even selecting preferred odds to maximize profit. We have discussed some platforms where you can enjoy smooth trading on your favorite sporting events. However, ensure the platform is safe and bet responsibly.