People often use "exchange" and "bookmaker" as if they mean the same thing. They do not. The difference changes the odds you see, the bets you can place, and how much control you have over a position.
This guide breaks down both in simple terms so you can decide what suits you before you get a cricket ID.
How a traditional bookmaker works
With a bookmaker, you bet against the house. The bookie sets the odds, and you either take them or you do not. If you win, the bookmaker pays; if you lose, they keep the stake. It is simple and familiar, which is why many people start here.
The trade-off is control. You can only back an outcome to happen, the odds are fixed by the bookmaker, and there is usually a margin built into every price.
How a betting exchange works
On an exchange, you bet against other players, not the house. The platform simply matches people who disagree about an outcome and takes a small commission. Because real players set the prices, odds often move faster and can be sharper.
The exchange also unlocks two actions a bookmaker does not offer: back (betting that something will happen) and lay (betting that it will not). That single addition is what makes exchanges so popular for cricket.
Back and lay, explained with cricket
Say India are batting. To back India means you win if India win. To lay India means you win if India do not win — you are effectively playing the role of the bookmaker for that outcome.
This matters because you can react as a match unfolds. If you backed a team early at good odds and the game swings their way, you can lay the same team later to lock in a position regardless of the final result. That flexibility is the heart of exchange betting.
Sessions and fancy markets
Exchanges are also known for session markets — betting on things like the runs scored in a set number of overs — and fancy markets on smaller in-game events. These update ball by ball and are a big reason cricket fans prefer exchanges for live play.
They move quickly, so they reward paying attention to the game rather than chasing prices. If you enjoy following a match closely, this is where an exchange shines.
Which should you choose?
If you want the simplest possible experience and fixed odds, a bookmaker-style sportsbook is easy to grasp. If you want sharper prices, in-play flexibility and session markets, an exchange gives you far more room to work.
The good news is that most modern platforms combine both, plus a casino, in one ID. You can explore what different exchanges emphasise on pages like Dreamexch, TigerExch and My99Exch, and pick the style that fits you.