Orbit Exchange: What is it all about? November 10, 2022 – Posted in: Articles – Tags: Betting Exchange, Orbit exchange

With the world advancing well into the digital age, more people have become almost entirely dependent on the use of computers and the internet to get things done. While many might be of the opinion that the digital age is nothing more than a hindrance that leads to lack of privacy and security, it cannot be denied that most of our day-to-day activities related to work, bill payments, shopping, etc., is carried out through the use of the internet.

Aside from offering services that are related to our daily needs and work, the internet is also the ideal place for entertainment and competition. By this, we mean betting by competing on various portals. The concept of gambling began in the Paleolithic period, which is even before any history could be written. Now, we won’t delve in the history of gambling or betting since we don’t have thorough records, but what we will look at is modern-day betting which is played through various gambling portals.

History of online betting

It was sometime in the mid 1990s that online gaming sites began making their appearance. Of course, not everyone was aware of this development as the internet wasn’t accessible in every country at the time. However, it wasn’t until the late 90s that online betting really took off. It is estimated that online gambling revenues had exceeded $830 million in 1998 alone, a figure that at the time could be considered astronomically high for an industry that was relatively new.

Read More: Orbit Exchange Commission

For those unaware, online gambling is a form of betting conducted on the internet through virtual poker, online casinos, and sports betting. The market is now estimated at $40 billion globally each year and is expected to grown even further in the years to come.

Many customers or bettors rely on bookmakers to place their bets as you will find a wide variety of markets here. Nowadays, most bookmakers operate in an online capacity provided they’re not operating out of a brick-and-mortar casino. However, more recently, there has been a rise in popularity in another betting form better known as betting exchange, usually carried out in the form of the popular Orbit Exchange or Orbit X.

Here, we take a look at some of the differences between bets placed on bookmakers sites and betting exchange.

Betting exchange vs bookmakers

Betting with a bookmaker restricts you to just backing the winner. With betting exchanges, however, you have the ability to ‘back’ and ‘lay’ an outcome. This allows you, as a bettor, to act as a bookmaker by setting odds for a particular event, or a customer by backing odds set by other users on the betting exchange.

Betting exchange allows you the ability to trade positions like a broker in the stock exchange, assess the market of the event from before the start of play to in-play. This, in turn, gives you a better opportunity to find real value and make a healthier betting profit.

While man still prefer settling for the traditional form of betting through a bookmaker, the new wave of punters have begun choosing betting exchange options as there is a lower risk of loss and a higher rate of profit if they play their cards right.

Betting exchange types

There are two different types of players involved in betting exchange.

The first is one who places a ‘back’ bet, wherein a player is simply involved in choosing an outcome of a game and deciding a stake. This is nearly the same as placing bets with a bookmaker.

The second type of player is one who ‘lays’ a bet. Laying means betting against an outcome of a match or event. For example, when Team X plays against Team Y, who are match favourites, you will not only be able to bet on Team Y to come out winners, but also place an additional bet against Team X to lose the match. Do note that laying a bet is generally matched with other players on the exchange.

What is Orbit Exchange?

Orbit Exchange is a unique form of an online marketplace that allows players or punters to place bets against each other. It is different from the traditional bookmaker, as players bet typically against the platform. Orbit Exchange comes with a number of advantages that makes it a favourite among players compared to usual sportsbook markets. One of the major advantages is the large liquidity for a wide range of markets that usually cover cricket, football, tennis, and basketball and at much better prices.

Orbit Exchange has been powered by Betfair since 2017 and has a number of agents in different parts of the world. In fact, Orbit Exchange reviews have been fairly accommodating, with many bettors claiming it is the safest form of online betting at the moment. Orbit Exchange allows punters to make several exchange bets across multiple sports and markets, offering better avenues to maximize their betting profits.

With the ‘back’ and ‘lay’ betting options, punters looking for the best odds and liquidity on the betting market will be able to find everything they need on the Orbit Exchange. The platform offers opportunities for trading and maximizing your profit even before an event starts and even during play.

Currently, there is no Orbit Exchange software or Orbit Exchange app that can be downloaded and used. However, one can simply sign up and log in to the Orbit Exchange website to begin their journey.

Important features of your Orbit Exchange account

There are certain features and regulations that are offered to you as an Orbit Exchange customer. Hence, it is important to be aware of these various features.

Firstly, Betfair runs the Orbit Exchange platform but the two are anything but identical. Their interface differs and so are the commissions that are charged upon winning bets. Their liquidity and odds are, however, identical.

Players can place a minimum bet of €7, although they are free to negotiate with the agent/broker offering an Orbit Exchange account.

Most agents offer an Orbit Exchange commission rate of 3 percent, which is lower compared to the Betfair commission rate.

One of the major advantages of an Orbit Exchange account compared to Betfair is that the former does not include any premium charges. Premium charges is one of the main factors that drives many professional bettors away from Betfair. However, Orbit Exchange customers need not worry about any additional payments to use its features.

However, some agents may impose a higher commission rate of up to 6 percent if they determine that your Orbit Exchange account has failed to produce significant profits for them. Also, some agents could limit your account features to prevent you from receiving exposure beyond a certain stage.

Another feature to be aware of is the ‘Cash Out’ button that permits you to lock a profit or loss before an event is completed. Any of the bets that are matched can be cashed out using the button.

Again, while Orbit Exchange/Betfair share a lot of similarities in terms of user interface, most of the functionalities and features offered vary a fair bit. Orbit Exchange reviews have been positive and a lot of punters have begun using this platform to place their bets. The Orbit Exchange commission being on the lower side too, makes all the difference in attracting more punters.

Orbit Exchange cricket bets are also really fun due to the various betting options on offer.

Sports available at Orbit Exchange

This Orbit Exchange review offers a list of sports, events and various betting markets available at Orbit Exchange.

There is a multitude of sports available and players can place bets on a large number of events, including national and international events.

Players should note, however, that despite a wide range of available sports, they will not be able to place bets on each of the sports events on offer. They need to be included and listed on the exchange coupled with the fact that there should be another punter willing to bet on the opposite outcome.

Following is a list of sports available for Orbit Exchange customers:

1) Football

2) Basketball

3) American Football

4) Horse Racing

5) Greyhound Racing

6)Boxing

7) MMA

8) Australian Rules Football

9) Tennis

10) Cricket

11) Snooker

12) Boxing

13) Baseball

14) Ice Hockey

15) Golf

16) e-Sports

17) Motorsports

18) Cycling

19) Rugby League

20) Rugby Union

21) Volleyball

22) Gaelic Football

23) Netball

24) Athletics

Aside from offering betting markets for sports, Orbit Exchange, being an exchange and not a conventional bookie, still allows customers to play a wide range of casino games available on the platform. Some of these casino games includeBlackjack, Baccarat, Hi-Lo, Hold’Em, Omaha Hi and Derby Card Racing. Players simply need to click on ‘Games’ to access them. Since many bookies generally offer markets for casino games with dedicated casino sections, there has been widespread belief that the Orbit exchange offers bets only for sports and sports events. However, that is not the case.

How to Place a Back Bet on Orbit Exchange

Orbit Exchange offers sets of odds for the various markets that are covered. For example, there are two possible outcomes with equal probability for bets that are placed.

Blue boxes represent back options while pink boxes represent lays. If a player is interested in a particular back bet, all they need to do is click the respective button and then can choose how much they would like to stake, before seeing the potential profit that they can earn. With a back bet, the liability is equal to the stake amount, which means a player can lose more than what they have wagered. With back bets, a punter will need the occurrence of a given outcome to win.

FAQs

Q. What are the documents required?

Ans. A form of photo identification (passport, citizen card, photo driving license) ans proof of address dated within three months (utility bill, credit card bill, bank statement) are the basic requirements. A bank statement of the account where funds are transferred to/from to comply with international AML standards will also be required. Your personal information is also safe with your company. Accounts are set-up anonymously and client’s information remains confidential. Information is not passed on to third parties without a player’s consent.

Q. How much does the service cost?

Ans. In most cases, the service is offered completely free of cost.

Q. What does the exchange get out of it?

Ans. Most exchanges are paid commissions that generate turnover on the sportsbooks and betting exchanges. When referrals are made to bet brokers and betting software platforms, they receive a referral payment fee made by the firms providing the service.

Q. What are the payment options?

Ans. Deposits and withdrawals are offered via bank transfer, and other payment methods such as net banking, credit card, debit card, and all other UPIs (which might vary depending on your location). As a customer, you will receive our bank details when setting up your bank account.

Q. What is the minimum deposit and withdrawal?

Ans. The minimum deposit is €10 or currency equivalent and the minimum free withdrawal is €10. Payments are transparent either way.

Q. How do I make a withdrawal?

Ans. The process is fairly straightforward. All you need to do is request your withdrawal amount through the website.

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