If you want to get into the online betting industry and start your own business, you should consider starting a cricket exchange. Cricket is a very old sport that has survived until now and in fact, it has a huge fan base around the world. Even though it is not as popular as other sports, there are many cricket fans that follow all the big competitions and tournaments that take place.
From a betting point of view, cricket might have even more loyal followers who like to wager on all big cricket events. In fact, many sportsbooks and betting exchanges specialize in cricket betting markets in order to attract as many punters as possible. But how easy is it to start your own cricket betting exchange?
The answer will be given in the following paragraphs. You will learn how to become a cricket betting exchange owner and the steps you have to take. Furthermore, we will discuss the aspects you should emphasize to attract more punters. In addition, you will read a mini review of 9wickets, one of the biggest cricket exchanges in the world, and see what it offers.
Which Cricket betting exchange may I own
The betting industry is a competitive business. Opening a sports betting exchange might be difficult to grow at first. However, it is very likely that sports like cricket will give your business the push it needs to stand out. Punters who specialize in cricket are typically high-stakes players who would rather bet on a cricket exchange than a traditional sportsbook.
Owning a top cricket betting exchange is a great weapon against the competition. But to do that, you have to make the right decisions about the software you use and the label you buy. This includes the features and extra services you will offer to the players and how you will convince them to bet on your site.
How will I become an owner on a cricket betting exchange
Before you become an owner of a cricket betting exchange, you should settle some things in your mind first. For example, you must decide whether your betting exchange site will focus only on cricket or have a special cricket betting section among other sports. One example is OrbitX, which has a section just for cricket and an abundance of other sports as well.
Then you should choose which white label betting exchange you want to use. White label exchanges are services that offer software for betting exchanges, sharing a partnership with Betfair. This means that you can use the official Betfair odds while operating your own business under whatever company name you want.
The next thing you must focus on are the features and betting markets that will be included in your cricket betting exchange. These are also the things that will help you choose the right white label exchange. Competitions are an important aspect that will entice punters. Be sure that the white label exchange you choose offers the widest variety of events worldwide.
OribitX’s cricket exchange, for example, offers over 20 competitions from all over the world for punters to bet on. In addition, every event includes many betting markets to satisfy all the bettors who want to wager. The typical betting market is to pick the winner, but there are a lot more like 1st innings runs, draw no bet, tied match, and more.
Your cricket exchange should also offer modern features to punters. One of the features the platform must include is the cash out capability. Especially if your target is high rollers and professional players, the cash-out feature is very important since many players use it. One-click betting is also another feature that will make punters bet on your platform.
But choosing the right white label exchange is not only about the players but also about running your business. As a result, you’ll need a cricket exchange platform that allows you to make changes whenever you want, easily and quickly. For example, you need a cricket betting exchange software that will allow you to manage punters’ accounts effectively.
Furthermore, the cricket exchange software on your platform must have other attributes as well. Some of them are the liability to track and report your site’s statistics and to be able to set betting limits at any time. Moreover, the privacy and security of your cricket exchange are very important for the protection of players’ personal data and the transactions on your site.
A mini analysis of the 9wickets betting exchange (292)
A great example of a cricket exchange is 9wickets. This betting site specialises in cricket events, and it is one of the biggest exchanges of this type in the market. The majority of punters that wager on 9wickets come from India. However, the exchange is accessible from anywhere in the world, either directly or through a broker.
When talking about a cricket exchange, we should first mention the design. 9wickets has a very modern, yet user friendly site. In its sports section, you will find various sports to bet on, but the main focus is cricket. After all, its name is clearly a reference to the sport, since “wicket” is a term used in cricket matches.
Regarding the betting markets, 9wickets offers all the big competitions in the sport. All of the major events, as well as lesser-known tournaments, are available for wagering. Every match includes many betting markets at the higher the odds in the betting market. Moreover, the events are also available for live betting, except for the pre-match options.
The 9wickets exchange has a quite small commission compared with other betting exchanges. The platform keeps a 3% commission to players’ earnings, while Betfair’s commission is about 5-7%. When you combine the low commission with the high payout offered by the exchange (which can sometimes be as high as 98%), it’s no surprise that 9wickets attracts so many punters.
The platform also includes some cool features, like one click betting. This lets the players bet quicker by setting a certain amount of stake they want to use. Additionally, it has a “Multi Markets” tab, where punters can add all the matches and cricket events they want to watch. It saves time and keeps players focused on the matches they want.