What's a Betting Exchange?
A betting exchange is a web site on which an individual can either place bets or accept bets on an event.
So I can act as a Bookie?
That's right, you can accept (or lay) bets at odds that you determine. You set the odds to try and encourage others to take the bet.
Why would I use a betting exchange to place a bet?
Because you will get better odds that at the bookmakers. Individuals such are yourself are prepared to give better odds.
Where can I find a betting exchange?
The best one online is Befair and can be found at www.Betfair.com