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Large O-ring allows for easy tightening around the wrist.
The hassle of feeding the o-ring in and out of the buckle on the wrist is eliminated because the o-ring is designed not to come back out of the buckle, making it easy for quads.
The strap going over the hand goes through a buckle, then tightens back over the hand holding the weight, or handle of any item.
Because the strap going over your hand and used to tighten the weight is long enough to have already been fed through the buckle, this eliminates the hassle of feeding the strap through the buckle.