Orbit Exchange has become one of the most popular betting exchanges in the market presently. With easy accessibility to the internet in most countries, the betting market has grown more than ever.
The internet has taken over and individuals have become dependent on the use of computers and the internet for almost everything. While the digital age has compromised one’s privacy and security to an extent, it can’t be denied that most of our productivities related to work, bill payments, shopping, etc., is generally performed with through the www.
The internet also serves as a fun space for entertainment and competition such as betting on various online platforms. Gambling has been around for a countless years, with modern-day betting being competed through a wide range of betting sites.
What is orbit exchange?
During the mid 1990s, online gaming sites began to crop up although the number of users at the time was limited due to the internet not being accessible to every one. It was in the late 90s that online betting began to take off with an estimated $830 million being generated in revenue in 1998 alone.
Online gambling is betting form wherein players compete on the internet through various virtual games such as poker, online casinos, and sports betting. Presently, the market is estimated at $40 billion globally every year with high expectations of grown in the coming years.
Customers or bettors have been relying on bookmakers to place their bets due to a wide range of markets on offer. Bookmakers generally operate online if they’re not operating out of a brick-and-mortar casino due to the low running costs and convenience offered to customers. In recent times, though, another betting form known as betting exchange has gained popularity. It usually carried out in the form of Orbit Exchange.
Here are the differences between bookmakers sites and betting exchange.
Read More: Orbit Exchange, games section, and more
What is the difference between orbit exchange and normal betting?
When betting with a bookmaker, you are restricted to backing the winner, but with betting exchange, you can ‘back’ and ‘lay’ an outcome which allows you, the bettor, to act as both a bookmaker by setting odds for an event, or a customer by backing odds that have been set by other users on the betting exchange.
A betting exchange will allow you to trade positions like a broker in the stock exchange, while enabling you to assess the market of the event before the start of play and in-play. This offers punters an opportunity to find real value and make a healthier profit through betting.
Of course, many still prefer the traditional form of betting through a bookmaker. Many bettors have started making use of betting exchange options as it offers a lower risk of loss and higher profit rate.
Different forms of betting exchange
Betting exchange involves two different forms of players. The first is a player who places a ‘back’ bet, wherein a player chooses an outcome of a game while deciding a stake. The ‘back’ bet is somewhat similar to placing bets with through a bookmaker market.
Meanwhile, the second player is one who ‘lays’ a bet, which means betting against an outcome of a match or a particular event. A simple explanation would be placing bets on both a weaker team taking on a stronger team considered match favourites. How? It’s simple. You will not only be able to bet on the favourites to finish as winners, but also place an additional bet against the weaker team to lose the contest. However, laying a bet is matched with other players on the exchange.
Read More: How to open an Orbit Exchange account from the Orbit Exchange Portal?
Orbit Exchange explained
Orbit Exchange is an online marketplace that allows bettors to bet against each other. Unlike a bookmaker, players typically bet against the platform. There are a number of advantages with Orbit Betting Exchange in comparison to sportsbook markets. A major advantage is the large liquidity for a wide range of markets that cover various popular sports such as cricket, football, basketball, and tennis at prices considered better.
Betfair has been powering Orbit Exchange since 2017 and is spreading its roots to various parts of the globe. Orbit Exchange reviews have been positive, with many saying it is the safest form of online betting. The exchange allows bettors to make exchange bets across multiple sports and markets, allowing them to maximize their profits while betting.
Gamblers looking for the best odds and liquidity on the betting market will find all of that on the Orbitx Betting, thanks to the ‘back’ and ‘lay’ betting options, since it also offers opportunities for trading and maximizing profits before an event and while a match is ongoing.
Customers can simply sign up and log in to the Orbit Exchange website to begin their journey.
Read More: Orbit Exchange: What is it all about?
How to open an account from the Orbit Exchange portal?
The registration process couldn’t be simpler. In order to open an Orbit Exchange account, you will first need to register with our Orbit Exchange portal. Thereafter, you will be required to complete your KYC documentation before making a successful cash deposit.
Then, you will need to click on the “Create Account” button, after which you will be required to enter your desired Orbit Username and Password. Please note that the Username needs to be at least five characters long, preferably in alpha numerics to ensure higher account security.
Once you’ve completed the registration process, select the bookies you want to choose. You will then need to make a deposit with one bookmaker. It is advised to make deposits with official representatives of Orbit Exchange to make the overall transaction process smoother and hassle-free.
Thereafter, upload your documents for account verification (KYC), including a utility bill and a copy of your identity card. Click Submit.
You will then receive an email with confirmation of verification and with instructions for first deposit. In case you do not see it in your inbox, you could also check Spam.
Login in to your account, go to Deposit and follow the steps mentioned. Please note that there will most likely be a minimum deposit amount at the time of registration.
Read More: Orbit Exchange Commission
How to change your password in my Orbit Exchange account?
The process of changing your Orbit Exchange account is fairly simple. To change the password on your account, you first need to click on the settings button in the upper right corner next to your account username.
After clicking on settings, you will be redirected to a window, where will be required to type your old password along with the new one.
Orbit Exchange covers a wide range of sports that one can place their bets on, making it a preferred choice for sports enthusiasts. Listed below are the sports available for bets to be placed on Orbit Exchange:
1) Cricket
2) Football
3) Basketball
4) Boxing
5) MMA
6) Tennis
7) Horse Racing
8) Australian Rules Football
9) Greyhound Racing
10) American Football
11) Snooker
12) Baseball
13) Motorsports
14) e-Sports
15) Golf
16) Ice Hockey
17) Cycling
18) Volleyball
19) Rugby League
20) Rugby Union
21) Gaelic Football
22) Athletics
23) Netball
Orbit Exchange also allows customers to also play casino games such as Blackjack, Baccarat, Hold’Em, Hi-Lo, Omaha Hi and Derby Card Racing. You need to click on ‘Games’ to access them.
Read More: How To Place Lay Bet Orbit Exchange?
FAQs
Q. What are the documents I need to sign up?
Ans. Photo identification such as a passport, citizen card, or photo driving license, along with proof of address dated within three months such as an electricity bill, credit card bill, or a bank statement are required. Also, you will need to provide a bank statement of the account where funds are transferred to/from to comply with international AML standards. Information is not shared with third parties without the consent of a customer.
Q. What does the service cost?
Ans. Generally, the service is completely free of cost.
Q. Does the exchange gain benefits?
Ans. Exchanges generate turnover on the sportsbooks and betting exchanges. They receive a referral payment fee made by firms providing the service when referrals are made to bet brokers and betting software platforms.
Q. What payment options are offered?
Ans. Deposits and withdrawals are made via bank transfer, and other payment methods including net banking, credit card, debit card, and UPIs. Customers will receive our bank details at the time of setting up your bank account.
Q. Is there a minimum deposit and withdrawal amount?
Ans. Generally, there is a minimum deposit of €10 or currency equivalent while the minimum free withdrawal is €10.
Q. What is the process for withdrawal?
Ans. Orbit Exchange offers a straightforward process for withdrawals. Customers simply need to request their withdrawal amount through the official website.
