Betting exchanges have gained popularity among Kenyan bettors in recent years, offering an alternative to traditional bookmakers. While they offer some unique benefits, there are also some drawbacks to consider. In this blog post, we will explore the pros and cons of betting exchanges in Kenya.
Pros of Betting Exchanges in Kenya
Better odds
Betting exchanges often offer better odds than traditional bookmakers. This is because the odds are set by the market, rather than the bookmaker. This means that the odds are often more competitive and can result in higher payouts.
Lay betting
Betting exchanges allow you to not only back a selection to win, but also to lay a selection to lose. This means that you can act as the bookmaker and take bets from other users. This can be a profitable strategy if you have a good understanding of the market.
More control
Betting exchanges offer more control to the bettor. You can set your own odds and the amount you want to bet. You can also trade your bets in real-time, allowing you to lock in a profit or minimize your losses.
No limitations on winning accounts
Traditional bookmakers often limit the accounts of winning bettors. However, betting exchanges do not have this limitation. This means that you can continue to bet and win without fear of having your account restricted.
Cons of Betting Exchanges in Kenya
Limited markets
Betting exchanges often have a limited range of markets compared to traditional bookmakers. This can make it difficult to find the bet you are looking for.
Higher commission
Betting exchanges charge a commission on all winning bets. This can be higher than the margin charged by traditional bookmakers. It is important to factor this into your calculations when placing bets.
Liquidity issues
Betting exchanges rely on users to match bets. This means that if there is low liquidity in a particular market, it can be difficult to get your bet matched. This can result in missed opportunities or lower payouts.
Complicated for beginners
Betting exchanges can be more complicated for beginners to understand than traditional bookmakers. There is a learning curve to understanding the terminology and how to use the platform effectively.
Summary
Betting exchanges offer some unique benefits to bettors in Kenya, such as better odds and more control. However, there are also some drawbacks to consider, such as limited markets and higher commission. It is important to weigh up these pros and cons when deciding whether to use a betting exchange or a traditional bookmaker. If you are new to betting, it may be best to start with a traditional bookmaker before moving on to a betting exchange.
