Betting Exchange Interview with WBX
1. How does the WBX betting exchange work and how does it differ from other online bookmakers?
on Sep 16, 2014
The way that the WBX betting exchange
works is that members bet against each other instead of against a bookmaker. One side ‘backs’ (bets they will win) the other side ‘lays’ (bets that the backer will not win). For example in horse racing, you can lay a bet on a horse, and if any other horse wins the race, your bet will win.
Being able to lay bets is an advantage when you are betting live because it opens up opportunities to green up (lock in a profit). Live betting is offered on a wide variety of sports including tennis, football, cricket and more.
Another significant difference with bookmakers is that WBX Members set their own odds. You don’t have to accept what is available, and because there are no built in margins you can often find much better odds and win more at WBX compared to what you would have on a bookmaker site.
2. What are some of the more popular sporting events that players like to bet on at WBX?
Horse Racing is the premier sport at WBX. There is a lot of betting activity especially in the final minutes leading up to each race as Members get a flurry of bets on at changing prices. It is exciting watching the odds movement as punters rapidly get their bets down and it is during this time that you get the juiciest odds. Soccer
is another very popular sport at WBX, particularly the Premier League, Champions League and FA Cup. WBX offers betting on many more leagues and tournaments with a selection of over 3,000 soccer markets each week and live betting markets. The ability to back and lay on the 1x2 opens up easier ways for punters to lock in a profit compared to if they made their bets with a bookmaker.
is enormously popular at WBX as well, and rightly so. All ATP and WTA matches are offered with live betting on every tournament. The odds during live play change dramatically often see-sawing with the favourite changing several times throughout a match. Punters with a keen eye can win large amounts by spotting trends and anticipating how a match will unfold.
Cricket is another very popular sport, along with Greyhound Racing, and American sports (NFL/NBA/MLB/NHL/NCAA) have a respectable following. AFL and NRL are big with the Aussies, and there is something for everyone - from Darts, to Snooker, to MMA, to Motorsports, practically every major sport is covered.
3. How does the mobile version of the site work and how do players make deposits when on the mobile site?
Visitor’s access optimised versions of the WBX site by automatic device detection. This means you only need to visit WBX.com
regardless of the device you’re using – smartphone, tablet or desktop. There are no apps to download and you access all the same markets, prices and features as the desktop version with a display that is user friendly to your device. For example there are larger buttons so you can easily place your best on touch screen devices.
All the same deposit methods are available, and can be made securely through your mobile device.
4. Are there any signup bonuses for new players to join the betting exchange?
WBX offers a £/€25 free
bet for new members who sign up with a British Pound or Euro account. New Members who sign up with a US Dollar, Australian Dollar or Canadian Dollar account get up to a $35 free bet.
The free bet rewards your activity on the exchange - the more you bet the more free bets you get. Once you have won or lost a total of £/€100 you receive the first /€10 free bet. So you can win £/€50, then lose £/€50 and you will get the first £/€10 free.
There are no minimum or maximum odds required for the free bet, and you do not have to roll over the bonus before you can make any withdrawals. WBX also offers additional free bet promotions from time to time, a £10 free bet for members betting on tablet devices was offered recently, so it is important to check mailers for new offers as they come up.
5. Is there a loyalty rewards or VIP program for players that bet often?
Yes, like some other betting exchanges
, WBX has a commission discount. The more you bet with WBX the bigger this loyalty discount gets, with a maximum discount rate of 60%.
Moreover, if you are an existing member with a competitor exchange like Betfair or Ladbrokes Exchange/Betdaq, when you sign up with WBX you can bring your discount rate with you. If you email WBX member services they will match your rate at WBX.
Also, WBX is the only betting exchange to offer a commission refund – meaning you will be refunded commission paid at the discounted rate.
6. WBX is licensed in the United Kingdom by the Gambling Commission which is one of the toughest licenses to obtain. Overall WBX seems like a quality site to bet at, what other features of the site should players be aware of to let them know they are dealing with a quality betting exchange and that their funds are always safe?
Yes, WBX is fully licensed in the UK and is one of the safest betting sites around. Member funds are held within a separate company, WBX Members Funds Limited and are held subject to a trust deed, meaning that funds can only be used to credit members for winning bets. Financial audits by an external party are published on the website every quarter.
So for example, let’s say you and I match a bet against each other. We each stake £50 at 2.0 odds with me backing and you laying. Our liability for the bet is £50 each, and the winning bet is for the amount of £100. The way that WBX works is that this £100 goes into a ring fenced account that can’t be used for anything but winning Member payouts, and when the bet is settled, that £100 (minus commission) will go to the winner. It is unfortunately common to read horror stories of people betting with rogue bookmakers and casinos and building up a bankroll into 5-figures and never seeing a penny. With WBX this simply will not happen because of the way that payouts are set up. Also, because you are betting against other members WBX is not at risk whether you win or lose.
If you’re looking for a safe, secure betting option WBX is a top choice.
7. What can players expect from WBX in the future?
WBX players can expect the betting experience to only get better over time. As the exchange grows in popularity the liquidity of markets will continue to improve further. To date over £1 billion has been wagered on the exchange, and over 3 million bets are processed daily. More live betting markets, an improved user interface and many more exciting things are planned for the near future and there has never been a better time than now to join WBX.
8. For players that haven't joined the WBX betting exchange, why should they join and what can they expect as a player?
For people that haven’t yet tried it WBX is an excellent choice for your first betting exchange to join up with. WBX have a low minimum bet amount of £/€/$ 1 so that you can get the hang of it with small stakes bets. There is also the ‘Sportsbook View’ option to view markets the same way you would on a bookmaker site, so you can continue betting in a way you are comfortable with while you take your time to check the ‘Exchange View’ and start laying bets.
WBX also has a reputation of not discriminating against winners, there are no premium charges when you win long term, and you will never have your account closed or your stakes limited for winning like a lot of sites do.