If you have spent any time looking for cricket odds online, you may have come across betting exchanges. As it happens, there are now more than a few ways in which you can place bets on test matches and series. But what’s all the buzz regarding exchanges really boil down to?
Ultimately, it’s about who or what you are betting on – the markets are wildly different. In this quick guide, we’ll take you through the basics – are betting exchanges a boon or a bane for gamblers? It’s time to make your mind up.
Cricket Betting at an Exchange
Betting on a test match at an exchange is, by and large, as quick as it is to bet via sportsbook. However, the rules are inverted. At sportsbooks, you back bets – whereas you lay bets at exchanges.
For example, at a sportsbook or bookmaker, you could back India to beat Pakistan. In an exchange, you would lay a bet to say Pakistan would lose. This is just a simple example, of course!
Lay betting at an exchange is popular because it can open up the markets you’d often see at a sportsbook. Sportsbook betting revolves around odds set by an individual or two. At a betting exchange, the odds and rates are based on popular opinion. Therefore, it works more like a stock exchange – hence the name.
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Is It Worth Betting at an Exchange?
That all depends on your own betting style, and the markets you prefer. Cricket is a common choice amongst exchange bettors. However, as with sportsbook betting, there are also risks involved.
For some bettors, exchange betting can seem more fluid and a little freer than the standard. That said, markets and odds will vary wildly. Therefore, some experts may suggest it’s worth sticking to the safety of a sportsbook.
Some cricket punters also try matched betting – where they bet on both exchanges and sportsbooks. However, this can be a very complicated process!
The exchange setup is largely popular, thanks to its stock exchange setup. Of course, it’s easier than ever for people to buy and sell stocks via an app – but there’s the novelty factor. Moreover, betting sites and traditional bookmakers are fast being considered the ‘older’ standard!
Advice for Cricket Bettors
The general advice for cricket bettors is that the choice between exchange and sportsbook tends to be individual. Much depends on your own betting experience and tendencies. Therefore, it is undoubtedly a good idea to research the market and see what appeals to you.
Of course, the positive factor in all of this is the fact that there are wider, more varied markets available. Cricket has never been bigger, and whether you follow T20 or not, there’s lots to find at exchanges and sportsbooks.
Time will tell whether or not betting exchanges outpace sportsbooks full stop. In the interim, however, bettors have a wealth of choice – meaning it’s a good idea to compare and contrast.