Online sports betting is a highly popular activity practiced by a large number of sports fans worldwide. When it comes to Indian players, they often turn to online sports betting due to the country’s restrictions regarding other types of gambling activities.
Along with standard bookmakers, sports betting is home to another provider of online gambling — betting exchanges. Yet, are online betting exchanges a better choice for Indian players than good old bookmakers? You can find the answer to this question in the text below.
Betting Exchanges vs. Bookmakers
Compared to bookmakers with a long history of offering their services to punters across the world, betting exchanges are relatively new on the market. These gambling establishments were first introduced in order to rebel against the unfair odds that the standard bookmakers provide. In case you are not familiar with the sports betting industry, this is how it works.
Bookmakers create the odds for all sports competitions on which punters place bets. Since you as a punter don’t have a say in what the odds look like, you have to work with what you’ve got.
Betting exchanges, on the other hand, decided to take a different path and actually let the punters create the odds. At the core of a betting exchange is the following system — two players bet on a different outcome of the same match. The player who believes that a certain team will win is ‘‘backing’ the odds, while the other punter who thinks that the same team will lose is ‘laying’ the odds.
Once both players say yes to the odds and stakes, the bet is considered valid. Whichever player turns out to be wrong has lost and thus has to pay the other one.
Booking exchanges get their profit from the winning side of a deal. The winning player has to pay a commission to the exchange corresponding to the amount of their winnings.
Now that you know how booking exchanges work, we can move on to the pros and cons of this kind of betting in India.
Betting on sports via online betting exchanges has many advantages for Indian players. Let’s take a look at the most prominent ones.
- Players create the odds — As we already mentioned, standard bookmakers create the odds for you. With betting exchanges, you are the one creating the odds.
- Betting exchanges don’t have an advantage over players — While bookmakers always take the margins into consideration when creating the odds, betting exchanges don’t take any part in deals between punters. They profit from a commission they get from the winning side.
- You choose what to bet on — Although modern bookmakers always tend to include various sports in their betting offer, they mostly focus on the most popular ones like soccer or basketball. Betting exchanges are in this aspect more suitable for Indian players as they can bet on sports that are more popular in their country, such as cricket or kabaddi.
Although booking exchanges might seem like perfect gambling operators at first glance, they also come with some flaws.
- Lack of Betting Exchanges — Betting exchanges are less popular than bookmakers, and you will often struggle with finding a good one that accepts players from your region.
- Lower liquidity — For a bet to be valid, you need to find a player who will agree to the odds you’ve created, which is often more difficult than it sounds.
- More suitable for skillful bettors — Bookmakers give you everything on a plate, and your only job is to choose the odds you find most appealing. With betting exchanges, you create the odds, and that requires quite some knowledge and skills.
Taking into consideration both pros and cons of online betting exchanges for Indian players, we came up with some sort of a conclusion.
In case you are a mad sports fan who already has some experience with sports betting, online betting exchanges might be the right choice for you. Once you find one that accepts players from your country, you will have lots of fun creating the odds for the games you like watching.
On the other hand, we recommend novice punters not to jump into creating odds just yet, as this activity can be a slippery slope for an inexperienced punter.