Betting exchanges such as Betfair have revolutionised betting due to the way they operate.
Exchanges offer in the majority of cases excellent prices at which to back a runner. Further more if we don't like the odds on offer, we can always ask for better odds.
If we don't fancy the selection at all we can lay it.
In addition to these to improved odds and the ability to bet against things happening how would you like to turn a profit on a vast majority of horse races without studying form or making a judgement? Impossible? Well not now due to the world of betting exchanges.
Initially I used betting exchanges to arbitrage between bookmakers and other customers of the exchange guaranteeing money.