When it comes to betting exchanges, most people think of betting shops and online gambling. Indeed, the majority of existing platforms for betting exchanges are either owned by companies that offer online gambling or are operated by online gambling companies, such as Unikrn and GGBet.com. However, there is another option that has existed in the relatively unknown world of online betting for a while now, and that is hosted betting. What is hosted betting?
The Rise of the Hosted Betting Exchange
Hosted betting is a form of online betting where the betting exchange is hosted by a third party. The third party provides the platform, and the various users (known as participants) create their own accounts and place their bets. The betting is coordinated and settled on the exchange’s behalf, which means odds are kept accurate and the whole process is transparent. The most popular hosted betting exchanges are Mockingbird, BetStars, and MyBookie. With the increasing popularity of cryptocurrency and the growing acceptance of online gambling in general, hosted betting has become an attractive alternative for those seeking safe and secure ways to bet online. Here are some of the reasons why hosted betting exchanges are rising in popularity.
One of the biggest draws of hosted betting is the transparency. To begin with, participants know exactly where their money is going because the betting is handled by a third party. Furthermore, the odds are disclosed in advance so that participants know what to expect. This is in contrast to traditional betting venues or sites where odds are disclosed after the event.
One of the main issues that have prevented traditional betting venues or sites from going completely online is security. Specifically, the operators of these betting platforms have been worried about people cheating and using tools like skimmers to steal money from the machines. However, with the growth of cryptocurrencies and the increasing popularity of online gambling, this is no longer a concern. As previously stated, a large portion of the players on any given platform use cryptocurrencies, which are inherently more secure than conventional bank accounts. This coupled with more people turning to online gambling for their betting needs, means that hosted betting is a more secure option for people who want to place bets online.
Ease of Use
One of the biggest draws of hosted betting is the ease of use. Like with any other online venture, getting set up and going live takes only a few minutes. The next step is to register an account with the platform, which is fairly painless and doesn’t require any special software or equipment. Once this is done, participants can begin placing their bets with the click of a button. Making a bet is also pretty straightforward: the operator will ask for your stake, and you can choose between odds, quarters, or dollars as units of measurement.
Another big advantage of hosted betting is anonymity. As the name implies, participants do not have to reveal their identities to the operator of the betting exchange. They can remain hidden while placing their bets and checking their account balances. Indeed, many people choose to use their real names only for logins on social media networks like Twitter and YouTube, which they use to promote their content or brand. Using a fake name for a login can keep your personal information secure. This is especially beneficial for those who want to keep their identities secret when engaging with online gambling operators or websites.
The Uncertain Future of Online Gambling
Whether you love or hate online gambling, it is clear that the industry is undergoing massive change. For years, land-based casinos have been the mainstay of the industry, but with the growth of technology and the ability to be more mobile, this is beginning to change. As previously stated, cryptocurrency and the growing prevalence of online gambling mean that betting shops have a new home online. This change has inevitably led to the rise of the hosted betting exchange. In the near future, those seeking to place bets online will have several options, including traditional betting shops, land-based casinos, and hosted betting platforms. Ultimately, the choice will depend on the user’s preference and what type of security they want to maintain.