Detailed Guide: How Do You Bet On Cricket Betting Exchange?
Gambling has changed over the last few decades. Betting platforms have different offerings, and the most recent is the introduction of betting exchanges. It has changed how punters bet and given them a new opponent. Over the years, gambling has been between the gambler and the sportsbook. However, betting exchanges created something new, making gambling enjoyable. Now players can bet against each other. The information in this guide will help understand betting exchanges.
Table of Contents
What is a betting exchange?
A betting exchange acts like a middleman who lets you wager against other players instead of a bookmark. An exchange will enable punters to place the BACK and LAY bets. One player may bet on the back bet, similar to betting on traditional bookmarkers. In this bet, you choose an outcome and decide on a stake. The other one is who lays a wager and is the most important. Players can do this by taking advantage of the sign up bonuses offered.
For example, in a cricket match between Afghanistan and India, you believe India will win. Instead of betting on India to win, it allows you to lay a bet on Afghanistan not to win. Such a bet is matched with another player on the exchange.
Types of bets
The difference between betting exchanges and traditional book markers are bet types and prices you can get. Here are some of the betting exchanges.
- Win bet
It’s the most common form of bet where you ‘back’ the outcome in a given event. For example, you support Afghanistan in beating India in an ODI. With bookmakers, odds on Afghanistan to win are compiled by the firm. Regarding the betting exchange, the odds are set by individual punters willing to ‘lay’ Afghanistan to win the match. A betting exchange is great because you get greater odds when you bet on your chosen results.
- Lay bet
In this bet type, you get to play the role of the bookmarker. Sometimes you may watch a cricket tournament without knowing the results. But you can comfortably predict what is not going to happen. For instance, in a cricket match, you may feel the favourite team in betting will not win.
You can lay this outcome on the cricket betting exchange by setting your own odds and accepting bets from other exchange gamers.
When lay betting, it’s crucial to understand how much you will lose if the outcome goes against you.
What are the advantages of a betting exchange
- Enjoy reasonable odds
Sites like a cricket betting exchange provide better odds than regular betting websites. The sites offer long-shot bets, which have better odds at exchanges. The exchanges look at long-shot bets and offer fair odds to attract more punters. On the other hand, regular sportsbooks offer unfair odds to reduce the risk of losing money. It means placing odds at betting exchanges is good as they provide good deals.
- Laying bets
Laying bets is a main perk of betting exchange sites that provide a chance to bet on an outcome that will occur. Laying a bet offers punters the possibility of becoming bookies and making more money from others losing bets.
- Guaranteed profit
With betting exchanges, you can book profits before an event starts. For instance, betting for the West Indies to beat New Zealand at 2. So, before the game begins and you realise that the top players are not playing, the odds can rise, and you can lay off the bet at 5.
- No punishment for success.
Most bookmakers ban successful punters from sports betting. Punters betting on several or possible outcomes often leads to them being banned. Additionally, betting on the right bet is another reason they get banned, making them a victim of their success. Additional betting exchanges do not restrict wagers or place bans on you for your success.
How do betting exchanges make money?
Cricket betting apps in India offering betting exchanges make money by paying a small commission on winnings. However, the amount varies between businesses. The trade is similar to what poker rooms get in return for offering players a safe and secure platform. It’s crucial to consider commission when you decide to use a betting exchange to back bets.
The gambling industry has grown over the years, and bookmakers are finding more ways to entice and attract their customers. The best way to do this is through the betting exchange. Punters can bet against their fellow players and make more profits. However, its crucial for you to understand different types of bets and how to place one that will position you to win big.