BETTING EXCHANGE	RATING	DESCRIPTION
	91.68	Betfair is the world's leading online betting exchange, a concept it has pioneered. Driven by cutting-edge technology, Betfair enables punters to choose their own odds and bet against each other, even after an event has started. Betfair processes 5 million transactions a day and more than 300 bets a second. Its top rating is due to its liquidity - huge turnover on almost all events covered by Betfair. All bets on Betfair have been placed there by users who either want to have a bet in the normal way (back), or offer odds to other punters (lay). Bets are matched between people with opposing views. So you can either back your favourite horse or if you think a horse is overpriced or a donkey, then you can lay the horse to lose! So if you can't seem to pick a winner, you can always lay the horses. > DETAILED REVIEW
	90.39	Betdaq may lag behind Betfair in terms of market volume, but with its new unique bets and features, we expect Betdaq to catch up quickly. Excellent customer service, wide range of markets and sports covered and highest integrity rating. Only negative that we have come across really is that there is no sign up bonus or loyalty programme. Apart from that, our verdict is that Betdaq will give Betfair a run for its money for the number 1 spot amongst the betting exchanges. Betdaq has taken Betting Exchanges to another level with its unique features and bets. It is now possible to put an expiry time on a bet (if it has not been matched) at the time of placing the bet. Each Way and Multiple bets are also possible, even across different sports. You can now place Doubles/Trebles/Yankees/Super Yankees on BETDAQ. > DETAILED REVIEW
	89.42	Tradesports is a person-to-person trading "Exchange". It allows you to trade in the most innovative, transparent and exciting way on financial, sporting, current events, entertainment and many similar events. TradeSports members trade directly with each other, bypassing the middle-man. At the time of writing, you can even place or lay bets on the timing of bird flu being officially recognised as having occured in the US! Essentially, if you want to find a market to bet or lay on, Tradesports is a very good place to look at first before trying anywhere else. Up till now, Tradesports has settled more than $1.5 billion worth of bets. > DETAILED REVIEW
	89.28	Cantor Spreadfair is offering an amazing £50 cash bonus OR £2,500 Cash Back for first time depositors. Cantor Spreadfair was the World's first sports spread betting exchange. With a blue chip reputation in the financial markets as a broker-dealer specializing in fixed-income securities, institutional equities, derivatives, and foreign stocks, Cantor has ventured into the online markets with a vengeance. Spread betting peer to peer is a novel concept. Cantor Spreadfair offer narrower spreads, max. commission on winnings of 5% which can be reduced to 3%, close positions for less and you can always post two way prices. Cantor Spreadfair is regulated by the UK Financial Services Authority which gives it the highest integrity rating. > DETAILED REVIEW
	88.33	TradeBetX is a betting exchange where you can back or lay (offer odds to other punters). Bets are matched between people with opposing views. TradeBetX covers Baseball, Basketball - NBA, Basketball - NCAA, Football - NFL, Golf, Hockey, Rugby Union, Soccer - European, Soccer - International, Soccer - UK, and Tennis. Good software and very easy to use with quick response times. You can bet whilst an event is running and with one account, you can access Trade Exchange Network's 3 other sites that offer slightly different variations to that offered by TradeBetX. > DETAILED REVIEW
	87.68	BetBug is the only betting exchange that can legally operate in the US! And BetBug covers only the mainstream US sports like NFL, MLB, NHL NBA, NASCAR and others. First rate customer service, solid integrity and a 20% sign up bonus makes BetBug the natural choice for all US-based players. With a large customer base, there is good liquidity in all the markets covered by BetBug. So if you like to bet on US-based sports and take advantage of the 20% better odds on average by using a betting exchange, BetBug is a solid choice! > DETAILED REVIEW
	83.27	AllSportsMarket allows sports fans around the world to buy and trade stock on any sporting team or sports event they want 24/7. AllSportsMarket is an amalgamation of a number of betting propositions - it is a betting exchange where players compete against each other and not against the "house" or bookmaker, like a stock market as you buy shares in a particular team, and sports betting as the markets are various sporting events. In effect, it’s a combination of sports betting, fantasy league play and stock trading. A very novel and exciting proposition. > DETAILED REVIEW
	53.28	Parbet is a betting exchange - based in Malta. Parbet caters primarily to the European market. Their commissions are 4% which is lower than its competitors and can be reduced to as low as 1.5%! The minimum bet is EUR1 or whatever is specified for a particular sport or event. Parbet covers some of the unusual betting markets such as trotting, volleyball, bandy, handball, boxing, skiing, golf plus all the usual sports. > DETAILED REVIEW

The introduction of exchange betting such TradeSports.com and Betfair, is nothing short of a revolution in wagering. It offers the ordinary bettor something he has never had before - the ability to make a wager and also bet against the same thing happening. So if you find it difficult to find a winner? Then betting exchanges allow you to lay or bet against a team or horse winning. Betting Exchanges have been very much to the fore recently. Many people think that they are fast changing the way that we bet and there are predictions that the betting exchanges will continue to grow rapidly and that more and more people will use betting exchanges as their preferred method of betting. They offer you the chance to bet against other people, hence betting on a betting exchange is often called person to person betting. Therefore they cut out the traditional bookmaker altogether.

The advantages of betting exchanges can be summarised as follows:

• You can either bet or lay a team, horse or result
• Suggest your own price
• Ante post prices available on major races and sporting events
• The odds offered tend to be much better than those offered by the traditional bookmaker - often 20-30% better
• You can normlly bet or lay during the match or race

Let's say that you have bet on a particular race horse to win and it seems that it is not going too well, then you can lay that horse and reduce your losses. Most betting exchanges calculate the commission on the NET profit on a particular race, match or event. So if you make multiple bets on a particular event, some of which win you money and some that lose, the wins are then matched against the losses and if there is a NET WIN, then the commission is calculated on the win amount only whilst if you make a loss, then there is no commission.

If you like, for example, Miami against Chicago in football, you will find your fellow bettors around the country (maybe in the Windy city!) prepared to give you a bigger price for the Dolphins than a bookmaker might offer you. Your fellow bettors will do this because they disagree with you and are inviting other bettors, i.e. you, to take them on by offering tempting prices. When you think a team won't win you can do likewise, and lay it to other bettors (basically you are betting against something happening).

TradeSports or BetFair, of course, are not a bookmakers. They merely facilitate the betting that goes on between its customers and takes a modest commission (around 5% initially which becomes lower if you start having a large turnover). Everything you need to make a wager is there. The best odds are towards the centre of the screen, with the next best stacked up behind them.

You have the option to see these odds in various formats - moneyline, digital, fractions, 0-100, whatever you are familiar with. You can see how much money is being offered at each price. To scoop up every dollar of the wager, click the dollar figure. To take a smaller piece of the action, click the odds figure and - hey presto - you will see an online betting slip.

You use a simple wheel to fix the amount of money you want to risk and the odds you are prepared to wager at. Click the BET FOR or BET AGAINST buttons when you are happy and that's it - you hear a kerchiiing! and you have made your wager.

If you don't like the odds that are on offer, simply place an order at juicier odds. If you are realistic there's a great chance another exchange member will come along and give you the bet you want. Alternatively, you can turn bookmaker and offer odds against. If your odds are the best, your bet goes automatically to the top of the queue.

The exchange revolution is happening throughout the world. Bookies are crying foul. It's hurting their profit margins. Do we sympathise? We do not. When bookies start to cry foul, we as punters know that we are on a winner.

One piece of warning is that there are a lot of rumours that in horse racing for example, trainers and owners who know that a horse has no chance of winning (i.e. run when not 100% fit), they can lay/bet against the horse knowing that it will not win. Similar rumours abound about individuals dumping their matches as they will win a lot more by laying themselves on the betting exchanges.