> why can't a sportsbook operate like an exchange It can and some do. But it's nearly impossible to do combined bets (multiples, accumulator etc) in an exchang

> why can't a sportsbook operate like an exchange It can and some do. But it's nearly impossible to do combined bets (multiples, accumulator etc) in an exchange, and they are very popular. Also as already mentioned it's leaving money on the table.