Set Your Own Prices On Betting Exchanges

We’ve talked before about how you can set your own prices on betting exchanges, in effect, setting yourself up as the house. You can create and offer your own two-way markets at prices you set that ensure you’re getting the best of it, no matter what.

Gina Fiore and Sarah Tolagson of Prophet Exchange show how you can do that just for one side.

Using the Jan. 11 Oilers-Ducks game as an example, The total was listed at 7 on Prophet and it was -111 to the Under.

You could just bet that prices and be on your way, but one of the most compelling features on exchanges allow you to set your own prices. 

First, we went to the odds screen and saw that the Unabated Line, which shows a fair, vig-free price, had the total at 6.5 with the Under priced at +123.

Then we used our Alt Line Calculator to look at prices on alt totals. According to the calculator, Under 6 would be fairly priced at +162.

Now we have our target price. We can go back to Prophet Exchange and list Under 6 at +150 or +155. Now we have the best of it. Just like your friendly, neighborhood sportsbook. Don’t let it go to your head. You won’t be able to limit your customers.

If no one comes along to match the play and takes our action before the puck drops, no problem. The bet comes down, and we try again with another game. 

(Which would have been great. The Oilers rolled to a 6-2 win in Anaheim. No wonder we had to charge a premium for Unders involving Connor McDavid.)