Phil Agius
Show Bio
There will soon be a new way of betting on the outcome of sporting events in the United States, with the arrival of sports betting exchanges as Prophet Exchange prepares to launch in New Jersey.
Betting exchanges have been a familiar part of the betting landscape in Europe for around 20 years. But if you aren’t familiar with them, what are the advantages of using them over betting with a traditional sportsbook? In this article, we’ll take a look at the main reasons why you might want to embrace the new way of betting.
Don’t forget you can also read our guide to how betting exchanges work, our glossary of the terms used in exchange betting, and find out how to take advantage of our $200 signup offer when you register with Prophet Exchange.
Get better odds on your bets
Exchange betting is all about 1-to-1 transactions. You might think that’s exactly the same as traditional sportsbooks, as an oddsmaker sets a price and you choose whether to take it or not. Except with an exchange, there are many, many more people who can set the odds for each event. Everyone has an opinion, and with more people able to have their say on what the odds for each selection should be, you’re far more likely to find someone willing to offer bigger odds than the consensus price on the betting market. If users want to get their bets matched, they will need to offer odds that will entice you to take it!
Request your own odds for a bet
With a betting exchange, you can still bet it much the same way as with a traditional sportsbook and merely take your pick of the prices set by other users if you wish. However, you also have the opportunity to ask for better odds. For example, if the Denver Broncos are +260 odds to win the AFC West next season, you may not like those odds and therefore wouldn’t take that bet. But if there is a level at which you would be willing to back the Broncos, such as +300 or +350, there’s nothing to stop you asking for it. You might just find a fellow user is convinced the Chiefs are still in control of the division and will match the bet. As with many things in life, you won’t find out unless you ask!
No limits on bet size
Winning too much is a problem that most bettors would love to have to deal with, but sharp bettors having the size of their stakes limited by sportsbooks is part of life in modern-day betting. It’s something you don’t have to worry about with a betting exchange, though, as you can match bets at any available offers as long as you have the necessary funds. Big-staking bettors don’t even need to worry about finding a fellow big-time user to match with, either, as you could ask for something like a $1,000 bet and it might be matched by 20 other users each taking $50 of the overall bet.
You can ‘be the bookmaker’
Sometimes you might not be completely sure what will win an event, but you might have a stronger opinion on what won’t win! In cases like that, the ability of betting exchanges to allow you to ‘be the bookmaker’ could appeal to you. For example, if you think 5 or even 6 teams could win the Super Bowl next season, but you’re sure the Buffalo Bills don’t deserve have such low odds to win it, you can offer odds on the Bills winning the Super Bowl for other users to take. If the Bills don’t win the Super Bowl, the people who took the bet lose, and you win — and you didn’t even have to decide which of the other 31 teams would win in order to do it!
Why Pickswise is the place to help New Jersey bet better
You’ll want some free picks to use with your new betting exchange account, and you’ve come to the right place! Here at Pickswise, we’re the home of free betting picks and give our best bets on the side and total for every NFL, NBA, NHL and MLB matchup, plus all the big games in the NCAAF and NCAAB!
Pickswise is the home of the best free sports picks, news and best bets. Check out our expert NBA Picks, MLB Picks and NHL Picks for the latest game picks, all season long. We also have the latest news and developments on all things New Jersey betting. Check out our New Jersey Betting Guide for the latest updates on how and where to bet in New Jersey, including all of the best promo codes from the top sportsbooks.
Our content doesn’t stop with straight picks. In our Analysis section, you’ll find everything from mega parlays, to player props and same game parlays. We also have a daily betting show, Let’s Bet It!, featuring host Lauren Jbara and betting analyst Jared Smith, plus a rotating cast of expert guests to get you primed for each day of wagering. The show is streamed every day at 10:00 am ET on our YouTube channel.
Pickswise is the home of free sports picks, news, and best bets. Check out our expert NBA picks, college basketball picks, NHL picks, and soccer picks for the latest game picks.
