Bookmaker Market refers to betting directly with the bookmaker and accepting the odds they provide. When you place a bet with a traditional bookmaker, you are betting against Joyhobe, not against other players. Joyhobe sets the odds, determines the prices, and takes on the risk.

A Betting Exchange, however, works differently. It’s a peer-to-peer platform where players bet against each other rather than the bookmaker. The odds are driven by supply and demand, often making them more competitive than traditional bookmaker odds. In a betting exchange, your bet may be matched by one or several other users. While the odds are usually higher, you’ll need to pay a small commission on your net winnings for each market you win.