Looking into the betting exchange jungle part five

PLACING BETS IN THE SYSTEM AND THEN CANCELLING

You can also request a price as well on the betting exchanges. Let us say that you fancy England to win the World Cup but you think that the price that is currently on offer of 9.0 (8-1) is a little too short. You think that 11.0 (10-1) is a more realistic price. You can then simply place a bet into the system at 11.0. Of course when you do this then you are dependent on someone or a combination of people being willing to LAY England at that price as well and this means also waiting until the prices to BACK below your requested price of 11.0 have been snapped up and the price has moved out.

But if for any reason you wish to cancel that bet either because you have had a change of heart or maybe because you want to free up funds to make another bet then you may cancel the entire bet at any time as long as the bet or a portion of the bet has not been taken.

MARKET SPEED

There are many potential pitfalls that can hurt novice or even experienced betting exchange users for that matter. It is all so easy to click on the wrong bet or to click something in haste or even to click something correctly but you end up doing the wrong thing simply because you were under extreme time pressure.

As has already been mentioned, exchanges have a very large number of markets. These markets which are mainly on sporting events but can also be on non-sporting events as well tend to vary widely in terms of length. For instance, a men’s Tennis match at Wimbledon could take anywhere from between one and a half to four hours depending on how far the match goes. A F1 Grand Prix takes just under about two hours while a test match will take at least three days and possibly as long as five.

But one thing that you will quickly come to recognise on the exchanges is that certain markets are vastly more popular than others. Most of this is to do with the overall level of public interest. That level of interest can also increase dramatically whether or not an event is televised as televised events tend to attract all of the punters who like to bet “in running”.

But what tends to happen is that the market will actually speed up the closer to the off it gets. The amount of action in those final few minutes before a horse race for instance will be very substantial indeed.

This will mean that the prices will be changing far more rapidly than at any other time except of course for in running betting which is a completely different story whatsoever.

Carl “The Dean” Sampson