Where winning the toss matters enormously, where it barely matters, and how to bet before and after it.
The toss matters far more in some conditions than others, and treating it as a uniform advantage is the commonest error in cricket betting. On a pitch that deteriorates sharply or under lights where dew arrives in the second innings, winning the toss is worth a substantial shift in win probability.
On a flat, consistent surface in stable conditions it is worth very little. The gap between those two situations is large enough that a single blanket adjustment for the toss is worse than no adjustment at all.
Practically, this means the pre-toss and post-toss markets are genuinely different bets. If you have a strong read on the conditions, betting before the toss lets you take a price that has not yet incorporated it. If you do not, waiting costs nothing and removes real uncertainty.
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