XCHANGEBET BETTING EXCHANGE
XchangeBet is an online betting exchange, also known as “peer-to-peer betting”.
A betting exchange makes money by charging a commission, calculated as a percentage of net winnings for each customer on each event, or market. PAGCOR charges a 7.5% service fee or commission on each winning bet placed by the customer.
The odds available at XchangeBet are usually better than those offered by bookmakers, in spite of the commission charged, because the middleman is eliminated.
XchangeBet offers the opportunity to lay or “bet against”, which is to bet that a selection will not occur. This is the position bookmakers have traditionally taken when offering a bet to somebody to back that the outcome will win.
For example, if someone thinks Team A will win a competition, he may wish to bet on that selection. A bookmaker offering the bettor that bet would be laying that selection. The two parties will agree the bettor's stake and the odds. If the team loses, the layer/bookmaker keeps the bettor's stake. If the team wins, the layer will pay the bettor the winnings based on the odds agreed.
XchangeBet allow customers to bet FOR (back a bet) or bet AGAINST (lay a bet).
The XchangeBet provides betting markets or events to all sports (and non-sporting events e.g. Financial Indexes, etc.).
BE AN XCHANGEBET OPERATOR!
You can become an XchangeBet Operator if you are an existing PAGCOR authorized gaming venue (Casino, Bingo Outlet, VIP, Poker Club, InstaWin Games Outlet, etc.). As an Operator, you are entitledto a share on the revenue based on the Commission on Winnings.
The XchangeBet Point-of-Sale (XBET-POS) is a risk-free,
till-based cashier betting application which allow operators to offer their customers all of the betting markets the exchange has to offer, and guarantees a profit on every bet placed through the configurable price margin-management system.
The all-in-one product provides control of visual representation of markets for shop audience, simple and efficient touch-screen terminal bet acceptance, thermal betting slip printing, and barcode scanning reconciliation capabilities.
The XBET-POS is robust, customizable and scalable – the perfect solution to any shop’s needs.
For more information:
Call PAGCOR at 521-1542 local 384/385 or IEST at 856-3394 for more information.
INTER-ACTIVE ENTERTAINMENT SOLUTIONS TECHNOLOGIES, INC. (IEST)
IEST is PAGCOR’s technology provider for the XchangeBet betting exchange platform.
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