Bet Exchange

In the past people could bet on different events, like sport's events or elections outcome, only if they were already acquainted, since there was no basis for two strangers to put bets, except perhaps in dark bars over a game of pool or a broadcasted football match. Many people find it harder to find bets' partners, this thought, which common thought had been the driven force behind a new aspect of the gambling industry.

Bet exchanges are probably the newest gambling method available in today's world. Technological advances have made it possible for people to bet one against the other, privately, with the use of the Internet and new gambling domains, also, it is due to the development of E-money that now people can bet online.

Betting exchange is about being your own bookie, meaning you set the bet, define the odds and collect or disperse the accumulated money. For example, if you have a sudden urge to set a bet that the price of oil will rise the next day – you have the platform to do so, and if you think that's a peculiar bet to made than you're defiantly out of the loop. Nowadays people gamble on anything, while most common bets revolve around movie stars' relationships you can easily find bizarre bets – if you have a bet to post than you'd find someone to bet against you.

Many sites had been established for receiving bets and for forming a solid and reliable platform on which gamblers can practice their love, but since this is a new gambling market many procedures and conducts of act are still need to be set by both the gambling industry and the users. With so many possibilities one can only wait and see the future of this new entertainment.

Chris Anderson, Editorial staff
02-12-2005