A betting facility which acts as a market place for punters to trade bets at different prices and quantities, similar to a bookmaker. A betting exchange matches punters who are seeking to bet that a particular outcome will occur (for example that horse X will win) with others who are seeking to place opposing wagers (for example that horse X will n [..]

A form of betting where you bet against other bettors rather than a bookmaker.

A betting exchange is a form of bookmaking in which the operator offsets its risk perfectly through technology, such that the effect to the customer is that customers are seen to bet between themselves.

to come

  An online exchange where people deposit funds in order to make a bet.  The exchange then matches people betting for and against, for example, a horse and they are paired off.  Exchanges allow bettin [..]

a service that provides a marketplace in which odds are set. Clients can back a bet at the available odds, or lay a bet and play the role of the bookmaker.