Exchange betting is a type of online betting that allows users to place bets against each other, rather than against a bookmaker. In exchange betting, users can offer odds on an event and other users can choose to accept those odds. The exchange acts as a middleman, facilitating the transaction and taking a commission on the winnings. This is in contrast to traditional sports betting, where users place bets with a bookmaker, who sets the odds and determines the payout. Exchange betting can offer more flexibility and potentially better odds, as users have the ability to set their own odds and choose which bets they want to accept. It is also sometimes called “peer-to-peer betting” or “betting exchange.”

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