The Betting Exchange, literally "betting exchange", is a fixed-odds sports betting method where players can play the role of bettor or dealer and the dealer acts as an intermediary, simply putting individual bettors in contact, through the platform and in anonymity (for this reason they are also called "direct interaction bets between individual players").
The odds are, therefore, established by the players themselves and the dealer who acts as an intermediary by bringing together supply and demand retains, as a commission, a margin from the amount of the wins.
- accept betting proposals made by other betting users by making 'bets', in much the same way as already happens in fixed-odds sports betting, by purchasing a bet;
- propose to other players to accept their own, choosing the odds to offer ('bank' offers) acting as a normal bookmaker would do.
The combination of one or more "Banco" type betting offers with one or more "Stake" type offers gives rise to the bet.