Been hearing a lot about betting exchanges like Betfair and how they supposedly offer better odds than regular sportsbooks. The whole peer-to-peer thing makes sense in theory but wondering if it’s actually worth the hassle in practice.

From what I understand, exchanges don’t have the same profit margins built into their odds since you’re betting against other people, not the house. Plus you can lay bets which seems useful for hedging. But then they charge commission on winnings which cuts into profits.

Anyone here actively using both and tracking which gives better returns? I’m mainly betting NFL and NBA so not sure if there’s enough liquidity on exchanges for those markets compared to something like soccer. Also heard exchanges don’t limit winners like traditional books do which would be huge if true.

Feels like exchanges might be better for experienced bettors but more complicated for casual betting. What’s been your experience with the odds comparison and overall value ?