A betting exchange is person-to-person 'sportsbook' where the members are the bookies, making prices and taking the profits that are traditionally associated with Sportsbooks. These are sometimes called betting exchanges.

What makes betting exchanges unique?
Members can buy or sell a position, much like trading stocks and shares, in their favourite teams. Live in Running bets are a unique feature allowing members to take profit when a team is progressing well in an event…and of course allowing them to minimise losses when a team is doing badly!

TradebetX betting exchange has been modelled around a futures exchange. Whenever you place a bet for a selection to win you are actually buying a certain number of "contracts" or shares of that selection, likewise when you bet against a selection you are selling that selection. These contracts are traded with a maximum value of $10 and for every contract you buy or sell TradebetX charges a $0.04 fee. When the contracts expire, i.e. your bet is settled, a further $0.04 fee is applied.
To calculate your fees for any bet, add your stake to the potential winnings to get the total return and divide this by 10. This will give you the number of contracts you are buying or selling. If then multiply this by 0.04 you will get the trading fees to be charged- multiply by 0.08 to get the total fees.

You will always be informed of the fees associated with a particular bet during the confirmation stage of placing a bet.