Market Maker vs Market Taker: Should Bettors Use Exchanges or Traditional Books?

[SharpEddie47]

Question for the group: what's the optimal platform structure for serious betting?

I've been thinking about market makers (traditional books like DraftKings, FanDuel) versus market takers (exchanges like Betfair) and the fundamental differences in how they operate.

Traditional books set lines and take both sides. Exchanges let you BE the bookmaker by laying bets. Completely different models with different advantages.

What's everyone using and why?

 

[oli_sussex]

Worked at exchange for two years. Can explain structure.

Traditional books: house sets price, takes risk, limits winners.
Exchanges: peer-to-peer market, users set prices, exchange takes commission only.

Exchanges mathematically superior for serious bettors. No winner limiting.

 

[TaffyTipster]

Brighton knows his stuff.

I've been using Betfair for years mate.

Laying bets is a game changer.

Public hammers favourites, you lay them at inflated prices.

Can't do that with traditional bookies.

 

[ParlayPrincess_88]

Wait what does "laying" mean? Like betting against something?