Rate or Bhav in cricket betting
These terms are used for the word "odds," which is the likelihood of a team to win or lose a match. Bhavs, Rates, or Odds are set by the bookmaker, depending upon the available liquidity (number of bettors pouring in the money against each other) among other factors.
How do most Indians use online betting platforms to find out the latest rates or bhav of cricket matches?
Many Indians use online betting platforms to find the latest odds, also known as "bhav" or "rates," for cricket matches. Here's how they usually do it:
- Sign up/Register: Users need to create an account on an online betting platform that operates in India and offers cricket betting. They need to provide their personal details, including name, date of birth, email address, and mobile number during the registration process.
- Account Verification: In some cases, users may need to verify their account by submitting documents, such as a photo ID or proof of address, to confirm their identity and age.
- Deposit Funds (Optional): Although not required to view the odds, users may need to deposit funds into their account if they intend to place bets. They can choose from various payment methods, such as credit/debit cards, e-wallets, or bank transfers, depending on the betting platform's options.
- Browse Sports and Markets: Once registered and logged in, users can navigate to the cricket section of the betting platform. They will find a list of upcoming matches and tournaments, along with the associated betting markets, including match outcome, top batsman, top bowler, and more.
- Check Odds/Bhav: By selecting a specific match or market, users can view the latest odds or "bhav" for the event. These odds represent the probability of a particular outcome and are used to calculate potential payouts.
Note that betting on sports, including cricket, is legally restricted in some parts of India. Users should be aware of local gambling laws and ensure they comply with them while using online betting platforms. Always gamble responsibly and consider the risks associated with betting.
Is using common street bookies normal in India? What role does Betfair play in it?
In India, using local street bookies, also known as "satta bazaar" or
"bookmakers," is quite common, particularly for sports like cricket. Despite the
legal restrictions on sports betting in many parts of India, street bookies
continue to operate in an informal and unregulated manner. They often offer
services through personal networks, phone calls, or messaging apps.
Betfair, on the other hand, is an online betting platform based in the United Kingdom. It operates a betting exchange that allows users to bet against each other rather than against the bookmaker. Although Betfair is a legitimate and regulated platform, its services are not available to Indian residents due to legal restrictions on sports betting in India.
However, some Indian bettors may try to access Betfair and other online betting platforms using VPNs or other means to bypass restrictions. This is not advisable, as it may violate local gambling laws and result in penalties.
In recent years, there has been a push to regulate and legalize sports betting in India to curb illegal street bookies' operations and bring transparency to the industry. Legalizing and regulating the industry would also enable the government to collect tax revenue and establish responsible gambling practices.
While using street bookies is common in India, it is not legally sanctioned, and Betfair's role in the Indian market is minimal due to legal restrictions.
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