The face of cricket betting has changed quite a lot since the past and today, one can place their betting through multiple ways. Among the popular ways, there are two significant methods: cricket betting exchange and the traditional way of cricket betting through bookmakers. While both options enable users to place bets on cricket matches, they have fundamental differences that affect betting strategies, odds, and potential winnings. In this blog, we will discuss the main differences between these two betting methods to help you make an informed choice.
Understanding the Exchange of Cricket Betting
A peer-to-peer betting exchange from where the user can place bets against other users and not a traditional bookmaker. Unlike a regular sportsbook, exchanges act as an intermediary. Such a platform offers an opportunity both for placing and accepting odds from fellow players. This erases the bookmaker’s margin and has a tendency to provide better odds for users.
How Does an Exchange of Cricket Betting Work
On a cricket online betting exchange, you can either “back” a team or player- the phrase for betting that they will win-or “lay” a team or player- the phrase for betting that they will lose. The latter is not available on traditional cricket betting.
- User-Generated Odds: Users do not rely upon bookmakers to set odds; they set their own odds and wait for another bettor to match them.
- Higher Profits Potential: Since there is no kind of bookmaker margin, higher returns are usually awarded to the bettors in winning bets.
- Commission-Based System: The betting exchange charges a very minute commission on winnings rather than profiting from the built-in odds.
Pros of Cricket Betting Exchange
- Better Odds: As no bookmaker margin applies, the odds are usually more favorable for a bettor. Thus, it becomes maximizable in terms of potential winnings, which usually fetches the player higher returns.
- Back and Lay Betting: The user can play the role of a bookmaker by laying bets. This affords them a different kind of betting strategy that is not usually available in cricket betting.
- Higher Control Over Odds: Bettors can set their odds rather than being limited to the one fixed by bookmakers. This results in more openness and, as a result, potentially strategic betting.
- Higher Winnings Potential: Good winners because of better odds and an open market can earn much more money in a betting exchange for cricket than would be the case in a traditional sportsbook.
Cons of Cricket Betting Exchange
- Not Easy for Newbies: In comparison to the traditional process of cricket betting, a betting exchange is a bit more complicated because it requires knowledge about the odds and how to balance the risks.
- Lack of Bonuses or Promotions: Free bets, deposits, and other welcome offers are primarily offered by online bookmakers while not by those in betting exchanges.
- Requires Matched Bets: Since bets must be matched by other users, there is no guarantee that your desired wager will be accepted, which can slow down the betting process.
What is Traditional Cricket Betting?
The traditional method of cricket betting involves betting through a bookmaker or sportsbook that sets fixed odds for various matches and outcomes. Bettors place wagers on predetermined odds offered by the bookmaker, with payouts calculated based on these fixed odds.
Main Characteristics in Traditional Cricket Gambling
- Fixed Odds: In a betting exchange for cricket, the bookmaker determines the odds, and sometimes the house is favored.
- More Betting Markets: Traditional sportsbooks usually offer a wide range of betting markets, including pre-match, in-play, and prop bets.
- Bonuses and Promotions: Many sportsbooks offer promotions, free bets, and deposit bonuses, which are less common in betting exchanges.
- Simpler Betting Process: Bettors simply choose their preferred odds and place a wager, without having to wait for someone to match their bet.
Pros of Traditional Process of Cricket Betting
- Easier for Beginners: The betting process is straightforward. Users do not have to fight against the matching of odds or laying of bets. Select your bet and place your stake.
- More Promotions and Free Bets: Bookmakers are always offering bonuses, free bets, and cash back. This increases the value offered to the players.
- Wider Betting Markets: The classical sportsbooks offer a higher number of betting options such as player performance bets, in-game prop bets, and future markets.
- Immediate Bet Placement: Unlike the cricket betting online exchange, there is no waiting period until someone matches your bet. You can place the bet instantly at the prevailing odds.
Disadvantages of Cricket Betting in the Traditional Way
- Lower Odds: Since bookmakers do have a margin on their odds, winning bets usually return less compared to the returns in the betting exchanges.
- Less Flexibility on Odds Choice: Bettors accept the odds determined by the bookmaker and aren’t allowed to set odds of their choice.
- Higher Risk of Betting Limits: Some bookmakers apply limits on winning customers or freeze accounts in case they suspect professional betting activity.
Betting Exchange vs Sportsbook: What’s the Key Difference
Understand what the difference is between a betting exchange for cricket and a traditional sportsbook when you choose which one is better for you.
Cricket Betting Exchange
- Produces better odds because of the lack of bookmaker margin.
- Allows back and lay betting.
- Users set and accept their own odds.
- It requires one to find another bettor who will match the wager with his or her bet.
- Charges the commission on winnings, unlike the built-in odds.
Traditional Process of Cricket Betting
- Fixed odds set by the bookmakers.
- A much easier method in which the bet is made straight away.
- It offers multiple types of betting markets, and it also provides promotions.
- You do not have to wait for somebody to match your bets.
- Bookies add a margin to the odds.
Which Betting Option Suits You?
The option between the cricket betting exchange and normal cricket betting depends on the type of betting you make and the options you like:
- If you want the highest odds, more freedom, and flexibility, the cricket betting online exchange is better.
- If you prefer simplicity, promotions, and numerous betting options, then the traditional process of cricket betting is your best option.
Why Choose Fun88 for Cricket Betting?
Here at Fun88, you will find a smooth cricket betting experience. At our site, you will obtain competitive odds for a safe gambling environment and fascinating promotions for all new and regular users.
As a fully registered gambling and entertainment company, holding a gambling license from E Gambling Montenegro d.o.o, we ensure an absolutely safe, stable platform for our members according to strict standards in internet gambling.
Additionally, we have allied with the world’s leading security audit system, IOVATION, to secure our users’ information and their privacy. You can bet with an exchange or a traditional sportsbook; whatever your preference may be, Fun88 offers a top-notch betting experience with the best odds available for Indian players.
Join Fun88 today and experience the excitement of cricket betting on a trustworthy platform!
Final Thoughts
Both cricket betting exchange platforms and traditional platforms of cricket betting methods offer unique advantages and drawbacks. If you value better odds, flexibility, and more control over your bets, a betting exchange for cricket is an excellent option. However, if you prefer a more straightforward betting process with fixed odds and promotions, then traditional betting through a sportsbook may be the right choice. Ultimately, your betting success depends on your strategy, knowledge, and ability to make informed decisions. Whichever option you choose, responsible gambling should always be a priority. With Fun88, you can enjoy a secure, exciting, and rewarding cricket betting experience. Happy betting!