Most SX Bet customers use Bettor Mode to instantly get the best odds available. However, smart bettors can get even better odds by using Bookmaker Mode.
This guide will show you how Bookmaker Mode works and the benefits and risks of using Bookmaker Mode vs Bettor Mode.
Bookmaker Mode Benefits
Better Odds - Both sides get better odds when you use Bookmaker Mode to set your own odds. It's the only win-win available when betting on sports.
More Control - If you think the available odds don't reflect the true odds of winning, you can set your own odds as high or low as you want!
Bookmaker Mode Risks
Be Patient - When offering odds, you have to wait for someone to take the other side of your bet. It could take a few minutes or hours for your order to be filled.
Be Honest - You can offer whatever odds you want, but the order book always puts the best odds at the top! If you offer poor odds to other bettors, it's unlikely that your bet will be filled.
How to set your own odds with Bookmaker Mode
Step 1 - Switch SX Bet to Bookmaker Mode
Go to the SX Bet Exchange by clicking here
At the top right select the setting button on the page, switch Mode to Limit
Step 2 - Select a Market and Game
Click a Market from the Markets panel and select a Game
Decide which bet type, side, odds, and bet amount you want
Note: We picked a Timberwolves/Clippers game in the NBA market.
Spread: Looking at the available spread odds, the U Timberwolves -3.5 is a slight underdog. However, we think that the Timberwolves -3.5 will win, but we want better odds than the -101 currently available. We decide we want odds of 110 on the Timberwolves -3.5, and are willing to bet 0.5 Eth.
Step 3 - Set Your Own Odds
We'll start by submitting a Bookmaker Order for our Timberwolves -3.5 bet. We want to bet 0.5 Eth and get odds of 110 on the Timberwolves -3.5.
Select the side you want to bet on: Timberwolves -3.5
Enter the odds you want: 110
Enter your bet amount in Eth: 0.5
Step 4 - Check that you are offering competitive odds
When you set your own odds, you have to be aware of the odds that you'll be offering to other bettors. In this example, if we want our spread of Clipper +3.5 bet to be taken (the opposite of the bet we want to take), we need to make sure the odds we offer to other bettors are near the top of the order book.
After you've entered your Bookmaker bet, check the odds that you are offering to other bettors. They are located to the right of your Bookmaker bet entry
Compare the offered odds to the current order book to see how competitive your odds will be
In this example, we are offering odds of -110 on Clippers +3.5. If we look at the current Clipper +3.5 order book, we can see that the best odds available are -116.
Since the odds we will be offering (-110) are better than the current best odds (-116), then it is highly likely that our order will get filled, since we will be at the top of the order book!
Step 5 - Submit Your Bookmaker Bet
After you are happy with your Bookmaker bet, click the green Request Bet button at the bottom of your bet
A popup will show you a summary of your bet. Click Confirm
Metamask/Fortmatic will ask you to authorize your bet. Click Sign/Confirm
Using Bookmaker Mode, you successfully submitted a bet with odds of 110 for Timberwolves -3.5 during the Timberwolves/Clippers game.
In doing so, you offered odds of -110 on Clippers +3.5 to another bettor. If you check the order book, the odds that you offered will appear in green.
Bookmaker Mode is a Win-Win for Both Sides
Both sides get better odds when you submit a Bookmaker bet. How?
You submitted an order on Timberwolves -3.5 with odds of 110, which are 10.8% better than the previously available odds (-101). Higher profit for you!
On the other side (Clippers +3.5), you offered odds of -110, which are 7.1% better than the previously available odds (-116). Higher profit for your opponent!
This is the magic behind betting exchanges: both sides can get higher profit by offering and accepting orders.
Head on over to the SX Bet exchange to explore markets and submit your own Bookmaker bets!