How to Make Money on Betting Exchanges (NoVig, ProphetX, Betfair): Profitable Betting Tutorial

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In this video, we cover betting exchanges. There's two main betting exchanges in the United States: NoVig & ProphetX. Sporttrade is another betting exchange that is available in some states. The largest betting exchange in the world is Betfair. The Betfair exchange is a platform that sharp, data-driven bettors love.

Betting exchanges are peer to peer platforms. You are NOT betting against "the house" - you're betting against other people. Betting exchanges work a little different from traditional sportsbooks like DraftKings & BetMGM. We cover all of the differences in this sports betting tutorial for beginners.

Betting exchanges have no limits. They do not limit sharp/profitable customers. Unlike traditional sportsbooks, betting exchanges take their cut regardless. They take a small fee off every peer to peer trade. Thus, the betting exchange doesn't care if you're up $100,000 or down $100,000. They're making money off you regardless.

Because betting exchanges have no limits, they are AMAZING for arbitrage & Positive EV betting. OddsJam reads in odds from every major betting exchange, including ProphetX, NoVig and Sporttrade. The OddsJam sports betting software also reads in NBA, NFL, NHL odds from all major sportsbooks, including DraftKings & Caesars.

Arbitrage betting is a way to guarantee a risk-free profit sports betting. Arbitrage is a betting strategy that works & always wins. As an arbitrage bettor, you're day trading the sportsbooks to guarantee a risk-free profit.

All sportsbooks & betting exchanges (NoVig, ProphetX) set their own odds. Arbitrage is when 2 books have SUCH different odds that you can "hedge" to guarantee a profit. We go through various examples of arbitrage betting in this sports betting tutorial.

NoVig & ProphetX have liquidity. You can either make or take markets on these betting exchanges. This is the same for the Betfair exchange, although Betfair is not available in the U.S.

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