Launched in April 2017, Orbit Exchange is a new betting exchange to hit the market. Powered by Betfair, you’ll find the features, markets, liquidity and bet acceptance speed to be pretty impressive and just about the same experience you’d get from Betfair.
The main reason why customers favour Orbit Exchange over a traditional bookmaker is that they offer better prices and huge liquidity. A betting exchange is like an online marketplace for players to bet against each other – not the bookmaker. It’s like two friends who have different opinions on a match, Orbit Exchange just acts like a mediator who holds the money and gives it to the winner. Unlike a bookmaker, Orbit Exchange encourages winners because they do not take any position in the markets.
At any given moment thousands of people worldwide are competing against each other to offer better odds on their opinion in order to have a bet. This often means the odds are better than those set by a traditional bookie.
On Orbit Exchange you can back and lay. To ‘back’ a selection means you think it will happen, like you would do with a traditional bookie.
Or you can take the opposing viewpoint and ‘lay’ if you think your selection will not happen (won’t win).
Lay betting is the other half of the deal from a back bet. Both are bets but opposing views. Without one, you can’t have the other.
Many players also like to use and exchange for trading. You can bet and lay on the same market and manage to make a profit even before the event has started. You can also trade in-play on Orbit Exchange.