Rajbet is usually the first place a potential punter looks for a place to bet. Vegas11, on the other hand, is a free market in which users can place bets and act as potential to Rajbet.
A bookmaker is a person or organization that accepts and pays off bets on sporting and other events using their own money based on the odds they provide. Betting is an activity in which two parties compete for the chance to win a stake in an event, and it usually involves money.
Rajbet dates back to the 1700s when horse racing and dice games were the most popular contests. Harry Odgen is widely regarded as the world's first bookmaker. Odgen discovered that some horses would perform better than the actual winner during his research, so he devised specific odds based on how each horse would perform.
For the first time, punters would be able to place a bet tactically rather than simply deciding the winner based on instinct and who appears to be the best on paper. This meant that a customer could back their favorite horse for a smaller portion of the winnings or take a chance on an underdog who would earn a more profitable payout if it won.
The catch is that Odgen cleverly created odds that were always in his favor, regardless of the outcome of the horse race. Rajbet, like William Hill, Ladbrokes, and Coral, has maintained this policy to this day. In the early 1990s, technological advancement enabled potential punters to learn and understand the concept of betting through a variety of mediums. Instead of a traditional bookmaker, this gave rise to Vegas11, a platform where customers have a say in odds and more.
Punters at a Vegas11 are now given the freedom and authority to raise their stakes and also offer odds to someone else, with room for discussion, unlike in the past when a bookmaker would call the shots while placing bets. Now that we've covered the basics of the two major betting platforms, let's look at the key differences between Rajbet and Vegas11.
Trading on a Vegas11 is, in theory, the same as trading on a stock exchange. Rather than buying and selling stocks, traders back and lay the outcomes of an event - it's not necessarily how much sports knowledge you have, but rather the likely market movement.
The goal of market trading is to make a profit, reduce your exposure, or cancel a previously matched bet on the same market - learn how to trade out of a market. Rajbet does allow users to use their cash-out button, but this is limited to specific events and includes an additional margin.
Vegas11 has no restrictions.
While bet cancellations, account closures, and stake restrictions are common at Rajbet, Vegas11 do not use these tactics because they are acting as a middleman for users to back and lay, and thus are unconcerned about the outcome of the event.
When betting on an exchange, the amount you can bet is determined by liquidity – the amount of money available to bet in a specific market – while all winners are welcome, and accounts are never closed.
Lay and back
When you back bet, you are betting on a specific outcome to occur. For example, suppose you bet on India to win a cricket match against Pakistan. If India wins, you win the prize money, and vice versa. It is similar to traditional betting, except that you bet against another punter in a Vegas11.
A lay bet, on the other hand, is a wager on an event that will not occur. A classic example is a football match between Peru and Brazil. When a customer bets on Brazil to win, it simply means that they want the opposing team to lose. Given their restrictions for participating customers, Rajbet, for example, will only offer back bets to punters. On the other hand, Vegas11 allow people to back and lay bets."