The term "p2p" is commonly used in
financial environments or in transactions where there are two parties involved.
In the world of sports betting, we usually talk about exchange betting or
cross betting. Does the term ring a bell? Well, we're talking about the
same thing, but in different languages: that's p2p betting.
A p2p bookie is the same as a bookmaker.
Basically, we are talking about platforms focused on sports betting that act
as mediators between users for the placement of bets. In the
financial field, a parallel would be the stock exchange, only that in this case
what is exchanged are bets.
And what is a p2p bet or a cross bet? Betting
exchanges are forms of betting in which each user acts as a bookie: setting
prices, establishing profit margins associated with the bets and so on.
In these cases, users are usually players who
wish to place some kind of bet not allowed or restricted in a bookie, so they
turn to betting exchanges to place them. These bookies, therefore, take
advantage of the lack of offers from other bookies, expanding the range of
games that users can find.
Note that we are not talking about prohibited
types of bets, but about a complementary offer for alternative users. For
technical reasons or for reasons beyond the users' control, bookies'
managements limit the types of bets that their members can place. However, this
does not mean that there is no demand. Bookies allow to offer these
restricted types of bets.
Users who want to enjoy restricted bets can
resort to cross betting on these p2p platforms to enjoy their hobby. But
there is one requirement: there must be at least one other user willing to
match the bet.
Considering that bookies generate revenue
when they charge a small commission per transaction from each customer, it
is logical to think that there should at least be a requirement to set a
minimum number of users to encourage betting.
How can betting exchange be used? Very simple:
The advantages of cross betting on betting
exchange bookies are clear: greater choice, greater odds disparity and greater
potential for reward. It is normal that there is a general feeling that the
odds and the sporting offer has become standardized, which can make
betting lose that point of fun if we go outside the norm.
There are more adventurous user profiles,
capable of extrapolating their knowledge to other types of bets, on
other events and with different odds. Since by going outside the norm they
exclude themselves from what the most well-known bookies offer, in their case
it is necessary to resort to p2p bookies for betting exchange.
However, resorting to this alternative
sports betting offer has its drawbacks. The most important one is the risk
taken with their odds, which is outside the logical limits used by the bookies.
This breaks with the principle of uniformity in the scale of odds depending on
the sporting event, which requires the user to be more cautious.
Cross betting is a different way of enjoying
betting, but the fact of betting on a circuit different from the
standardized one means that extreme caution must be taken in order to measure
the risk-reward balance.
There is no doubt that for many, betting
against another player is more attractive than betting with the backing
of a bookmaker. This allows the bettor to choose the outcome of a sporting
event based on what he thinks is most likely to happen, betting directly on
that outcome.
Thanks to bookies, anyone can enjoy going
head-to-head with other bettors who have bet on any other outcome. The
bookie charges a small commission, but does not intervene in the dynamics
of the bet, another attraction for those looking for less bookmaker tutelage
when they go to make their predictions.
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