Before we get into the nitty gritty of how you can place your own odds on Orbit Exchange, let’s dip into the basics of this concept. So what exactly is Orbit Exchange? It represents an online marketplace where players engage in bets against each other, distinguishing it from traditional bookmakers. Moreover, it offers more competitive betting odds and substantial market liquidity compared to conventional sportsbook offerings.
Now that you have a clearer understanding of this concept, let’s explore how to bet using your custom odds on Orbit Exchange.
Also Read: Sports betting exchanges cash-out system
Betting with your own odds on Orbit Exchange
Placing your own betting odds on the Exchange is a straightforward process. Begin by adding your selection to your bet slip, whether it’s a back or lay bet, and then input your desired odds into the Odds field on the Orbit Betting exchange site.
For instance, if you find the odds of 1.91 for Royal Line to win the 4.00pm race at Kempton unappealing, you can adjust the parameters and request odds of 2.00. Once placed, your bet will await matching. It’s important to note that not every bet will find a match, as there must always be another participant willing to accept your offered odds.
As an Orbit x customer, if you’re accustomed to betting during a race or game, you may be familiar with the strategy of waiting for odds to reach a specific level before committing to a bet. For example, you might be aware that a horse doesn’t perform well in the early race stages, resulting in lower odds compared to the pre-race assessment. Instead of waiting for odds to rise naturally, you have the option to ‘place an order’ at your preferred betting odds and await the matching of your bet.
This advanced platform offers Orbit Exchange customers opportunities for trading and maximizing profits even before the event or In-Play action commences. Orbit Exchange warmly welcomes arbitrage players and those seeking long-term success in the world of betting. It also helps that the Orbit Exchange commission rate is fairly low in comparison to its competitors.
Also Read: Which sports are available on Orbit Exchange?
FAQs
1. How do you come up with your own odds?
Ans. The best way to come up with your own odds is by calculating percentages that amount to 100%. If there are two teams competing against each other and you believe Team A will beat Team B, you can place 60-40% odds in favor of the former.
2. Can you set your own odds on Orbit Exchange?
Ans. Yes, you can set your own odds on Orbit betting exchange. You need to place your chosen selection into your betting slip, whether it’s for a back or a lay bet. Then, input your preferred odds into the Odds box.
3. What does 3 to 1 odds mean?
Ans. 3/1 odds mean you could make a profit three times the amount you bet. If you placed a $1 wager at 3/1 odds, your total payout would be $4, which includes your original $1 bet plus a $3 profit. Conversely, with 1/3 odds, your profit would be one-third of your wagered amount.
4. How do I know what odds I will win?
Ans. Implied probabilities are determined by considering the likelihood of an event taking place, which can be calculated by dividing 1 by the odds. For instance, if a team has odds of 2.50, the implied probability would be 0.40 (1/2.50). This indicates that the team holds a 40% probability of winning the game.
Read our twenty20 betting Blog if you want to get deep information about T20 Betting.
