Exchange Wagering Uses Fixed Odds

One of the many great things about exchange wagering is that it uses fixed odds.  That's a huge advantage.  Think about the existing parimutuel system in the U.S. for a second.  How many other types of bets require you to make a bet without knowing what odds you're getting on that bet?  Not only do need to forecast what will happen in each race, but you need to forecast what the odds will be.  With exchange wagering, that's not true anymore.  When you place a bet, you know exactly what the odds on that bet will be.  If you think that a horse has a better (or worse) chance of winning than the odds would suggest...then you know that you've made a bet with positive expectation.