With a betting exchange, you bet against other people, not the house. This means you can get better odds and even bet on outcomes to lose (a "lay" bet).
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Why choose a betting exchange?

Better Odds: Get more value for your money.
Lay Betting: Bet on a team or horse to lose.
More Control: Trade positions and lock in a profit before the event is over.
No House Edge: You're betting against other players, not a bookmaker.

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