Monday, January 23, 2012
So, what is so great about exchange wagering ? Well, let me tell you a few things in this brief introduction to exchange wagering.
First of all, whenever a 'trade' on a betting exchange is made, just like in the stock market, there is a buyer and a seller which will be referred to here as a backer and a layer. The backer is betting on a horse to win and the layer is betting on a horse to lose. A trade is made when a backer and layer 'match' prices on the exchange and the price agreed upon at the time of the trade is then locked in.
What this does is give players so many more options getting involved in a race. One can back and lay the same horse while perhaps locking up a profit if backing the horse at a higher price than laying the horse. Sometimes, you can lay a horse on the exchange at a lower price than a horse will go off in the pari-mutuel market and one can use that as a hedge as well.
For many years, I have often heard at the track or at an OTB regarding a shor