Betting Exchange vs Bookmaker
When it comes to betting, there are two main types of platforms: betting exchanges and bookmakers. So, which one is better?
In this blog post, we will discuss the pros and cons of each platform so that you can make an informed decision about where to bet.
What is a betting exchange?
Betting exchanges are platforms where users can bet against each other. The odds are set by the users, not by the bookmaker. This means that you can often get better odds-on betting exchanges. However, it also means that there is less liquidity in the market, and you might not be able to find a buyer for your bet.
Naturally, the has been a steady rise of betting exchange sites in India in recent times, as punters continue to seek alternatives to more conventional ways of sports betting, especially as they are now able to find certain methods that allow them to get more for their money.
What are some of the pros and cons of a betting exchange?
As mentioned above, there are a couple of different pros and cons regarding the use of a betting exchange, although each of these will have a varying impact on Indians as they may not care too much about certain features.
Of course, the main advantage is the fact that they can get more for their money as they are able to take advantage of odds that have been set by others. These might be considered more valuable, as well as perhaps even being fairer in some circumstances.
Additionally, as punters are going up against each other, there might be an element of competition, which can make the entire sports betting experience more enjoyable compared to when going up against a traditional bookmaker.
However, one of the major disadvantages as highlighted earlier is the fact that there may be fewer bets that are available. Not everyone may want to provide certain bets or prices that are being sought after, thus potentially limiting what is available at the time.
What is a bookmaker?
Bookmakers, on the other hand, are companies that take bets from customers. They set the odds themselves and try to make a profit from the difference between their own odds and the actual probability of an event happening. Bookmakers usually have more liquidity than betting exchanges, but they also tend to have worse odds.
What are the pros and cons of using a bookmaker?
Naturally, this form of sports betting also has several different advantages and drawbacks that Indian punters will encounter if they decide to opt for the more conventional way of betting.
Indeed, one of the advantages is that they will find a huge array of different bets all available to place, with bookmakers ready to accept the bet at any price. This can immediately enhance the overall experience and provide players with the opportunity to bet on what they want.
Moreover, an advantage is that bookmakers have a reputation of being fair and providing players with a solid experience. That is not to say that betting exchanges cannot do this either, however given the time that these operators have been established, it is very easy to trust them.
Nonetheless, this is also part of a double-edged sword, as they have managed to corner the market to benefit themselves. Indeed, the odds-on offer are not always the best, with each of them designed to allow the operator to make a profit regardless of the outcome. This means Indian bettors may find it hard to appreciate the true value of the odds that have been provided.
Conclusion
So, which platform should you use? It depends on what you value more. If you want to get the best possible odds, then you should use a betting exchange. However, if you want to be sure that you can always find someone to take your bet, then you should use a bookmaker.
