The betting exchanges were established around the turn of the century to provide a viable solution to the high odds that were offered by conventional sportsbooks. As a result, betting exchange operators in India offer more competitive odds than most bookmakers online.
Betting exchanges were viewed by many as having the potential to transform sports betting, ultimately resulting in the extinction of bookmakers. There is no doubt that this has produced a positive effect on the gambling industry, however, it has not managed to replace the traditional bookmakers completely.
Here are some pros and cons of betting exchange sites that may aid your decision about whether to use them over traditional online bookmakers.
- Reasonable odds
The odds on betting exchange sites are often perceived to be more favorable than those provided by standard online bookmakers. In most cases, longshot bets offer better odds on exchanges.
Longshot bets are viewed as an easy source of income by exchanges aiming to attract as many users as possible by providing fair odds. Standard sportsbooks, in contrast, offer unfavorable odds to minimize their losses.
Therefore, the advantage of placing bets through betting exchanges is their competitive odds. However, in the case of winning a bet, a small commission is charged by them.
- The ability to lay a bet
A significant advantage of betting exchange operators in India is the possibility of placing a wager on a hypothetical outcome that is unlikely to occur. This feature is unique and cannot be found in traditional online bookmakers.
A lay bet provides players with a method of profiting off of other bets and losing bets by taking on the role of the bookie. For instance, you can lay a bet on Liverpool losing the summit match rather than placing a wager on Real Madrid winning the Champions League final.
- Profits are guaranteed
An exchange site provides the opportunity to book profits before the commencement of an event. For example, a bet may be placed on Manchester United to defeat Liverpool by a margin of 2.5. If three of the top players are forced to withdraw before the commencement of the match, the odds may rise considerably and you could therefore lay the wager off at 5.
- There are no penalties for success
In the world of sports betting, it is not uncommon for bookmakers to penalize successful punters. Many players are banned from gaming if they wager on multiple outcomes or all of them. A second reason why bettors get banned has to do with their skill in placing their bets correctly. Thus, they become victims of their success.
Unlike bookmakers, betting exchange operators in India do not impose any restrictions on bets or ban players based on their success. Therefore, they have become the platform of choice for professional and skilled bettors within the sports betting market.
Despite the numerous benefits of betting exchanges, there are also a few drawbacks.
- Difficulty in matching bets
The liquidity of betting exchange sites tends to be lower than that of traditional bookmakers, making it more difficult for bets to be matched. There are not many customers in the market for less popular sporting events such as darts or longshot wagers. Similarly, one may identify a particular wager type but be unhappy with the odds offered. The traditional bookmaker is better suited in this regard and provides a greater variety of betting options.
- A limited number of bonuses are available
One of the main disadvantages associated with betting exchange sites is the limited number of rewards and bonuses. It is not unusual for online sportsbooks to offer new customers a welcome bonus such as a bonus on their first deposit or free bets. However, the opposite is true for exchanges, which generally offer very limited opportunities for bonuses and rewards.
- A smaller number of betting exchanges
Currently, only a few betting exchanges are available on the market. This explains why many people still place their bets with traditional bookmakers. Despite this, many betting exchanges have transformed the sports betting market and have gained more prominence over time.
- An environment that fosters the growth of match-fixers
There is a possibility of match-fixing in all forms of sports betting. However, it is critical to note that betting exchanges may unintentionally provide more opportunities for corruption in sports than conventional bookmakers. The layer may simply offer advantageous odds to entice punters while paying the athletes less than what they would be able to earn from the corresponding game. As a result, bettors are at risk of unfair losses and foul play.
Conclusion: A Few Betting Exchange Features to Know
- Back betting: Back betting is the process of placing a bet on what is expected to happen.
- Lay betting: When the customer is placed in the position of the bookmaker and is betting on the outcome not to occur, that is known as lay betting.
In-play gambling: As the name implies, an in-play betting exchange enables bets to be made in real-time or during a live sporting event. In this case, bets can be placed during an ongoing match or event and are most often placed on the most popular sports that are broadcast worldwide. On the other hand, non-in-play wagers occur after the bets have been entered into the system shortly after the betting customer places them.