If you have questions like, what is an online betting exchange, and how does a betting exchange work,then have a read of the first few links in the menu on the left and you will soon see the advantages an online betting exchange has over a traditional bookmaker. This site will guide you through the advantages of using a betting exchange, what all the terms mean, and there aren't that many, and recommended betting exchanges.

Betfair is one of the largest, if not the largest, online betting exchange. It is the trading name of The Sporting Exchange Ltd, a registered limited liability company in England and Wales. It was founded in 1999 and holds a bookmakers permit in England and Wales.

They continue to offer the best odds which are usually 20% better than at a traditional bookmaker. Just think of the money you are saving and is then available for other bets.

Their turnover exceeds $150 million per week. Part of this is because you can bet on teams or horses to win or lose. Yes, that is right, you can make a bet on a team to lose a game. So many sports, so many bets.

• Click here to sign up at Betfair

That is the great thing about an online betting exchange, you can bet on just about anything as long as there is some-one who accepts the bet. An online betting exchange is merely a facilitator of the old style "you wanna bet" line that occurs daily in offices, pubs and bars around the world. Some of the more obscure bets include, who will sponsor the number one draft pick, which team will sign the lastest star, who will win the next policitical election and what will the stock exchange index finish on for the year. What ever you can think of that might happen, there is probably some-one willing to bet it won't happen.