Definition of a Betting Exchange
As explained above, bet exchange is a concept of doing away with bookmakers. The betting exchange allows you to bet against each other while setting odds. For instance, you can bet Mumbai Indians to win while doing it for this team to lose.
When using a betting exchange, the bookmaker acquires a small commission from the winnings. If you lose, your cash belongs to the punters who bet against you. The betting exchange also allows players to place bets on the results of specific or discrete sporting events. The advantages of a betting exchange are as follows:
No penalty for winning- it is common for bookmakers to prohibit successful bettors in sports betting. There are many occurrences where players have been prohibited because of betting on multiple or all possible results occasionally.
In a betting exchange, such restrictions are unheard of. Players can place bets on any or all results of a particular match without worrying about getting banned.
- Reasonable Odds– you cannot compare the odds in a betting exchange with the ones of a bookmaker. They are far, much better. The odds are offered mostly with longshot bets. For instance, in a UCL final between Arsenal against Manchester United, the odds for Manchester will be higher and vice versa for Arsenal. On the contrary, the sportsbook offers odds that minimize the risk of losing funds. Placing bets at a betting exchange is a great deal any day. A small commission is, however, applicable to the winning bet.
- Guaranteed profits– You can book profits before the sporting events start in a betting exchange—for instance, one bet on Chelsea FC to beat Bayern Munich at 2.5 odds. Before the beginning of a match, if you realize that three top players are not part of the game, the odds can rise significantly. In turn, you can let go of the bet at 5. In this, you will have transformed your losses into wins.
- Ability to lay bets– this is the main benefit of betting exchange sites. It allows you to bet on a result that may never happen. It is special and cannot be conducted on a standard online bookmaker. Lay betting offers bettors an opportunity to be bookies and make extra funds from other losing bets. For instance, instead of placing bets on Liverpool winning the Champions League final against Real Madrid, you can place bets on Real Madrid being on the losing side.
Besides the benefits, the betting exchange has some disadvantages too. They include:
- Few bonuses available– the rewards and bonuses in the betting exchange sites are limited. Online sportsbooks usually have attractive welcome bonus offers for new punters, such as deposit bonus or free bets. It is not the case with the betting exchange. They offer very limited chances for rewards and bonuses.
- Difficulty to match bets- the liquidity in the betting exchange is lower compared to traditional bookmakers hence difficulty in matching bets. Less common sports, such as darts or longshot wagers, contain few betting exchanges in India. In another scenario, you may identify the bet type but aren’t sure about the odds. In this case, traditional betting sites would be far much better than betting exchanges since they present more opportunities.
- Fewer betting exchanges–there are limited betting exchange sites in India that are on offer in the market. Most people will go for traditional bookmakers in this regard. Ladbrokes, Smarkets, Coral, Matchbook, and Betfair are a few betting exchange websites transforming the sports betting exchange space. They are likely to grow in numbers soon.
How Betting Exchange Operates
The lay bet or betting is the unique feature of a betting exchange. You can place a bet for a selection to lose with lay betting. For example, you can place a bet for Kolkata Knight Riders to lose a match instead of winning. On a betting exchange, you can make two types of bets, namely:
- Backing a bet means that you are doing it for an event to happen;
- Laying a bet meaning that you are doing it for an event not to happen.
Go back to the Kolkata Knight Riders example again. If you bet Rs. 2000 for KKR to win, you will require another punter to risk the same amount to bet that this team will lose. If the match ends in a tie or emerges the winner, you will win the cash for the player laying a bet against KKR.
There is a lot of freedom in the betting exchange. It cannot prohibit you from placing the kind of bets you want. Just ensure you have a player who is betting against you. The following is a step-by-step guide on how to use betting exchange sites:
Register with an exchange betting site-the first thing when using betting exchange sites in India is to identify an app or website that has it and register with it. Some of the betting exchange sites in India that contain betting exchanges include Dafabet, Fun88, and Crickex.
Take note that the registration process differs from one betting exchange site to the other. Generally, the standard requirements include personal details, contact information, username, and password. Ensure that every information you provide is true and accurate to be able to access the betting exchange site. Any false information will be disregarded.
Deposit money and claim your bonus- upon signing up, the next thing to do is to cash in funds into your betting exchange account. The popular payment options that you will find on the betting exchange sites include
- Indian Net Banking
- UPI
- Paytm
- Cryptocurrency
- Neteller
- Skrill
- PhonePe
- Google Pay
Upon depositing funds into your betting account, ensure that there is a welcome bonus offer to claim. In most betting exchange sites, the offer is one. Claim the welcome bonus and start placing bets with a better amount.
Place bets on the exchange betting platform- once your account is funded, you can proceed using the betting exchange. The first thing is to understand the betting exchange available on a betting app or site.
Next, look for the sports betting markets that are available on your betting exchange. With every sport, there are live bets that you can place bets on. From the list available, you can select your preferred matched betting.
When you open the matches, you will see the different types of bets that you can place bets on. For every bet type, there is an option of either laying or backing. Depending on your selection, you can include the corresponding odds in your bet slip.
Key in your stakes and place as many bets as you want. The more the bet, the higher your winning chances. There is no right or wrong way of winning on the betting exchange platform. However, there are things you can do to maximize your own odds.
It is, therefore, important to familiarize yourself with how the betting exchange operates. Before we highlight the merits and demerits of a betting exchange, let’s explore the various Indian betting exchange sites!
The Top Betting Exchange Sites in India
Betting exchange sites have become more rampant in India. There are many betting exchange sites, but we shall focus on the top three. The three have unique features from other betting exchange sites. They include:
Crickex
It is a new entry in the betting exchange sites platform. If you are seeking a betting exchange experience, this is the site for you. The exchange betting site is powered by Betfair. The Crickex betting exchange site has numerous betting varieties.
It ranges from a casino platform with numerous games to a traditional sportsbook. The following are the details of the Crickex betting exchange site.
- It is powered by the great Betfair.
- It has a live-streaming option.
- It is an amazing cricket exchange betting app.
- Their welcome bonus offer could be better.
Dafabet
It is one of the popular betting exchange sites in India. Their easy-to-use interface makes it outstanding from the rest of the betting exchange sites. It also has a fantastic betting exchange with live streaming and live stats alternatives.
The Dafabet betting exchange has a mobile app that is compatible with both iOS and Android devices. Generally, this is how the betting site looks like:
- There are over five sports on the betting exchange site.
- Their welcome bonus offer is attractive.
- It has a live streaming and live stats platform.
- It has a mobile-friendly app.
- It lacks popular payment methods.
FairPlay
Another exchange betting site is FairPlay. However, it does not contain many features like the other two exchange betting sites. Its main focus is on the betting exchange and an online casino section that makes it unique.
The downside of the exchange betting site is that it doesn’t have enough sports betting markets. It also lacks a betting exchange app. Nonetheless, if you are looking for a decent betting exchange site, FairPlay should be your first choice. Generally, this how the exchange betting site is all about.
- It is an easy-to-use and straightforward betting exchange site.
- It has more than five famous sports.
- It lacks good bonus packages.
- The site has very limited betting options.
- It lacks a mobile app.
The Characteristics of a Betting Exchange
In this section, we shall go into the details of the features of a betting exchange. The betting exchange has three main characteristics that include:
- Back betting
- Lay betting
- In-Play betting
Back Betting
It refers to being in consideration of a specific and certain result only. For instance, you may place bets on Germany winning a cricket match against India. They will only win the bet if Germany beats India in that particular match. If the opposite happens, they have nothing to lose.
Lay Betting
It is the reverse of back betting. When a player places bets for a result not to occur, it is referred to as a lay bet. For example, if a player bet that India won’t defeat Germany, they will only win it if Germany wins or there is a draw in the match. Basically, lay bets are when you are betting on someone or something to lose.
In-Play Betting
Just like the name implies, it refers to the bets that are made in in-play or real-time. These bets are made when an event or match is ongoing. It occurs in famous sports like tennis, football, basketball, horse racing, and cricket that are televised globally.
The Betting Exchange Apps
Besides the top three betting exchange sites, there are also others in the Indian market. They include Parimatch, Matchbook, Smarkets, and Indibet.
Parimatch- the Parimatch betting exchange is a new entrant as a site. It does not disappoint or wow. The exchange betting site is limited to tennis, cricket, and football right now. Parimatch is working towards introducing greyhound and horse racing sooner than later.
Parimatch offers live streaming of certain cricket matches found in their Live TV feature. Another good thing about Parimatch is the numerous banking options that they support. We recommend it as among the best betting exchange sites in India.
Key features
- Live Casino
- Lives streaming
- Fast downloads
Pros
- Live streaming for “PM” branded users
- Secure and current payment methods
- A wide section of the market, sports
- Promotion and welcome bonuses
Cons
- The customer care is a bit slow
Matchbook- it is a top-notch Betfair option in the Indian market. It is ideal for casual Indian bettors. This online betting exchange site has decent market coverage. Their most notable feature is the betting exchange app that is available on Android and iOS mobile devices.
Matchbook has been rated as one of the most user-friendly and reputable betting exchange sites in India.
Pros
- The betting exchange site has a live chat platform.
- It has an easy interface for beginners.
- The welcome bonus offer is decent.
- It has a 0% commission offer on all sports betting site for 30 days.
- It has an amazing betting exchange for iOS and Android devices.
Cons
- It charges a 4% commission on Indian winnings.
- It has insufficient India-specific payment options.
Smarkets- it is a UK-based betting exchange site that has entered the Indian market. It is known for charging low commission rates. The exchange betting site contains a setup of resources that explains the betting exchange strategies and concepts.
The dozens of sports on this betting exchange site include ice hockey, baseball, rugby, and cricket. The site’s design layout is easy-to-use and a nominal 2% charges commission on winnings.
The charges are at par with the industry standards. However, Smarkets does not have an online casino section, but that does not make it a good betting exchange site.
Pros
- Their customer service is responsive.
- It supports football, tennis, and cricket sports betting.
- It has a nominal commission on its winnings.
- It is a fantastic betting exchange site for cricket matches.
- It supports Neteller, Skrill, MasterCard, Visa, and Bank Transfer.
- It has good market coverage, such as current and political affairs.
Cons
- It does not accept Indian rupees.
- The welcome bonus could be better.
- Lacks enough Indian-specific banking alternatives.
Indibet- it is a Curacao-based betting exchange site that covers different sports betting events. Besides kabaddi, football, cricket, and basketball, it also has esports, with is a plus for Indian punters.
However, the website’s design is unappealing and extremely dull.
Pros
- The exchange betting site accommodates multiple languages.
- It has a WhatsApp, Telegram, and live chat support platform.
- It provides good liquidity.
- The site supports several Indian payment methods like WhatsApp deposit and UPI.
- It supports numerous sports.
Cons
- It has a poor user interface.
- It lacks sports-centric bonuses and promotion offers.
Next, we shall look at the different features of the betting exchange site. They include bonus offers, betting experience, betting variety, payment options, and the mobile experience.
Bonus Offer
The betting exchange sites usually have bonus packages for their users. It is a way of thanking and appreciating them for being part of their family. A good bonus package assures you of a great betting experience.
We try to ensure that the sports bonus is attractive when looking for a betting exchange site. A bonus that can be used when playing on the betting exchange site too.
Betting Variety
Having a betting exchange site is good evidence of betting variety. When an advocate for more types of betting varieties when searching for a good exchange betting site. Preferably, go for sites that contain traditional betting markets.
The odds should be an offer by that particular betting exchange site. Each site has its own experience. The betting exchange sites with numerous sports betting options are rated higher. Therefore, players are not prohibited when placing bets on their favorite sports.
Payment Options
The money transfers from your bank account to your betting one are among the crucial element of any type of betting. When looking for a betting exchange site, go for one with multiple payment options. It is advisable to also consider a betting exchange site that accepts rupees as their main currency.
Betting Experience
You may ask about the difference in betting experience and betting variety. Well, the betting variety indicates the kind of sports found on a betting exchange site. When it comes to the betting experience, we refer to the different features that a betting exchange site has for its users.
For instance, betting exchange sites with live-streaming platforms will receive more reviews than the ones without.
Mobile Experience
In the Indian betting market, most players use mobile gadgets. The best betting exchange sites should contain a top mobile experience.
The user should be able to access all the features of a mobile betting exchange app. Surprisingly, the features of betting exchange apps are the same as the ones on a website.
Basically, the betting exchange apps have an advantage in the mobile experience. Note that there are certain decent mobile websites that offer a great experience. Be on the lookout! The following captures how different betting exchange sites in India are performing in regard to their features.
| Features |
Dafabet |
Crickex |
Fun88 |
| Bonus Offer |
8/10 |
6/10 |
10/10 |
| Mobile Experience |
8/10 |
8/10 |
9/10 |
| Betting Experience |
7/10 |
8/10 |
8/10 |
| Payment Options |
7/10 |
7/10 |
9/10 |
| Betting Variety |
9/10 |
10/10 |
9/10 |
| Summary |
7/10 |
8/10 |
9/10 |
The Merits and demerits of Betting Exchange Sites
In this section, we will look into the reasons why you should use or not use betting exchange sites. It goes without saying that they provide a unique experience. However, the decision to use it will depend on the following merits and demerits.
Merits
- The betting exchange sites have better opportunities for sports betting.
- They offer better odds and markets compared to an online betting site.
- They have guaranteed profits before the start of an event.
- They provide a chance to bet on results that have not yet happened.
- They offer you more flexibility.
Demerits
- The betting exchange sites are too difficult for new users to navigate.
- They have limited sports options.
- Their rewards and bonuses are limited.
- It is hard to match bets on betting exchange sites.
The Betting Exchange Apps
As mentioned earlier, you can use betting exchanges in India on different mobile apps. We mostly recommend that you stick to one website if your interest is in betting exchange. This is because they are user-friendly. You can as well use the best betting exchange apps.
Every betting online site comes with betting exchange apps. There is a handful of betting exchange apps in India, but only three made it to the top list. They include; Fun88, Crickex, and Dafabet betting exchange apps.
Fun88 App
It is the number one betting exchange app in the Indian online gambling market. The user interface is great for both new and existing players. The Fun88 betting exchange app is powered by the amazing Betfair. The app also has regular bonuses and promotions. When it comes to cashing out, there is less to worry about as the withdrawals are fast.
| Licensed in India |
Yes |
| Payment Options |
UPI, MasterCard, SticPay, Astropay, Paytm, Visa, ecoPayz, etc. |
| Welcome Bonus |
300% up to Rs 3,000 |
| Minimum Deposit |
Rs 200 |
Crickex
The second betting exchange app is Crickex. Also powered by Betfair, it has unique features such as multimarket betting. The login procedure has been made easy at Crickex, as you can use biometrics. When choosing the mode, you have three options Euro, Classic, or Compact.
| Licensed in India |
Yes |
| Payment Options |
iPay, PhonePe, Rupee, Paytm, UPI, etc. |
| Welcome Bonus |
No |
| Minimum Deposit |
Rs 200 |
Dafabet
Number three on the list is the Dafabet betting exchange app. Dafabet also contains a desktop app too. There are over five sports that you can find on this app, like cricket, kabaddi, basketball, football, table tennis, etc. The decent betting exchange app also has a live streaming and live stats option.
| Licensed in India |
Yes |
| Payment Options |
Skrill, ecoPayz, Net Banking, Bank Transfer, Neteller, UPI, etc. |
| Welcome Bonus |
60% up to Rs 30,000 |
| Minimum Deposit |
Rs 500 |
Frequently Asked Questions about Betting Exchange
Check out these FAQs
Which betting exchange is the best?
Note that not many Indian best betting sites offer a betting exchange feature. But this does not mean that these sites aren’t good. There are at least three high-quality betting exchange sites that you can select when betting through exchanges. They include FairPlay, Crickex, and Dafabet.
How do you make money on Betting Exchange Sites?
Getting small commissions on winnings is the main source of making money on a betting exchange site. The exact value differs between exchanges. Generally, it is between 2-5%.
How does a betting exchange operate?
A betting exchange allows punters to bet against each other. There are two types of bets that punters make- a lay bet or a back bet. A back bet means that you can bet on a result to happen. On the other hand, laying bets mean betting on a result not happening.
For instance, a player placing bets on a match between Royal Challengers Bangalore and Gujarat Titans can make these four kinds of bets:
- Gujarat Titans will win.
- Gujarat Titans will lose.
- Royal Challengers Bangalore will win.
- Royal Challengers Bangalore will lose.
What is the difference between a Betting Exchange and a Bookmaker?
| Betting Exchange |
Bookmaker |
| You bet against or according to the opinion of others. |
Here, you bet against the bookie. |
| You get good profits before starting a match but at the Cash Out’s expense. It happens when the odds change in your direction. |
The odds are rarely changed by the bookmaker when published on the public platform. |
| You can bet against a certain outcome and take the task of a bookie. |
You can only bet on a particular outcome. |
| It charges an intermediary and a small commission. |
In every coefficient, a margin is imposed. |
| The odd sizes are formed on the demand and supply bettors exchanges. |
The better odds are created by analysts taking into consideration the internal margin of the bookmaker. |
