If you’re a punter betting on sports in India, you must have heard the term betting exchange. And we’re also sure that you’ve wondered what exactly is this. Today, we’re going to talk all about it.
A betting exchange is a marketplace, where gamblers can bet on the outcome of sporting events. It does sound similar to a sportsbook. But there are some differences. For one, in a betting exchange, you can buy and sell the outcomes with other players. And you set the odds yourself.
In this review today, we’re looking at the best betting exchanges in India. Not only that, we’re going to learn all about how betting exchanges work and get you started on them. So, let’s begin!
Rather than exchanging physical commodities, picture a crowded marketplace where individuals wager on the results of political campaigns, sporting events, or even reality TV shows. In essence, that is what a betting exchange is: an online venue where users can place wagers directly against one another, sidestepping the conventional bookmaker model. Users can freely back (put money on) or lay (take money off) a variety of outcomes. Users establish their own betting conditions in this dynamic ecosystem, which allows supply and demand to dictate the odds.
The Distinction Between Betting Sites and Exchanges
The bookmaker controls the odds and rewards and is the central figure in traditional betting sites, which function more like stores. In contrast, users of betting exchanges can wager against one another, providing more options and, in many cases, better odds. You might compare this to a betting marketplace where users deal with one another directly rather than going through intermediaries.
Also, betting exchanges typically cover a wide range of sectors, from entertainment to politics, whereas traditional betting sites mostly cover sports. So, while both types are good, consumers who are open to trying something new may find that betting exchanges offer a more exciting, engaging, and rewarding betting experience.
Credibility
But are these exchanges any good? Before we can answer that question, let’s talk about something even more important. Are the betting exchanges in India credible? Should you be worried about getting into any legal trouble? Let’s answer those questions one by one.
First off, yes, the betting exchanges in India are credible. They are licensed companies that operate legitimate businesses. There are licensing authorities that make sure that everything is in order.
And no, you won’t be getting yourself in any trouble by using a betting exchange. There are many players that are actively betting on betting exchanges in India. Your betting options might be limited, but that’s purely because of the nature of betting exchanges.
Top 7 Exchanges in India
We understand if you don’t know where to start for the best betting exchanges in India. Not to worry, we have your back. Here we have compiled a list of the best betting exchanges in India. This will definitely help you out when you’re just starting out.
✔ Fun88 Exchange
If you’re looking for an OG betting exchange, then Fun88 is the one you want. When the Fun88 exchange first launched,it was one of the first betting exchanges. The interface has been created by Betfair. That should already tell you that it will be an experience unlike any other.
Official Website
fun88.in
Welcome Bonus
250% bonus of up to INR 5,000
Sports
Football, tennis, cricket, and over 20 other disciplines
Now if you want something that’s latest and packed with all of the cool features, then we have another one for you. Dafabet is a betting exchange that promises to deliver a different betting experience. Not only does it feature an amazing interface, but it also supports a separate sportsbook and casino for its customers.
Official Website
daffabet.com
Welcome Bonus
200% bonus up to ₹20,000
Sports
Football, tennis, cricket, and over 20 other disciplines
Payment Methods
UPI, Net banking, Skrill
Min. Deposit
INR 500
Min. Withdrawal
INR 300
Pluses
includes the most bet-on Indian sports, such as cricket and kabaddi;
accepts rupees for payment and withdrawal;
good coverage of sporting events around the world;
1xBet is another option that you have at your disposal. This company already has a successful and renowned bookmaker. But it also supports a betting exchange, where you get to set your own odds. It also has its own app for the betting exchange, so you can always use that when you’re on the move.
Official Website
india.1xbet.com
Welcome Bonus
120% up to ₹33,000
Sports
Football, tennis, cricket, and over 20 other disciplines
A decade since 10Cric came into being as an online gambling website, it is still a favourite all over the world. Gamblers can expect nothing less than the best online betting experience.
Its fast growth is due to its great customer service, the variety of daily markets, and the high odds.
Official Website
10cricbet.com
Welcome Bonus
100% up to ₹30,000 + 3 days of freebies on your first deposit
Sports
Football, tennis, cricket, and over 20 other disciplines
Since its launch in 2009, Mostbet has become a prominent sportsbook on an international scale. With a global customer base of over one million users, the betting site is operational in 93 countries.
Mostbet has recruited Brendon McCullum, a former captain of the New Zealand cricket team, in an effort to win over the confidence of Indian cricket enthusiasts.
Official Website
Mostbetin.com
Welcome Bonus
125% welcome bonus up to INR 34,000
Sports
Football, tennis, cricket, and over 20 other disciplines
With a history rooted in Eastern Europe and a licence issued by the Curacao government, Megapari was founded in 2019. Users have the option of registering easily using social networking, phone verification, or email. On top of its competitive odds, Megapari also offers 300+ bets on key events, live streaming, and fast withdrawals. An Android and iOS app is available for Megapari.
Official Website
megapari1.in
Welcome Bonus
130% up to 26,000 INR
Sports
Football, racing, tennis, cricket, and over 20 other games
A variety of sports betting options are available at BC.Game, an online crypto betting service. Additionally, BC.Game offers its users a variety of online casino titles. We go over all of the noteworthy elements of BC.Game in our review, including the bonus offers, live streaming, virtual reality league, and local payment methods.
Official Website
bcgame.sk
Welcome Bonus
Upto 240% bonus + free spins
Sports
Cricket, football, kabaddi, horse racing, tennis and more
Payment Methods
Bitcoin, Ethereum, Lite Coin, and more
Min. Deposit
Depends on the banking choice
Min. Withdrawal
Depends on the banking choice
Pluses
popular betting markets;
low wagering requirements;
regular tournaments.
Minuses
better bonuses for crypto users.
How to Choose the Best Exchange in India
How would you choose the best betting exchange in India for you? It’s perfectly normal to be unaware of this if you’re a newcomer. We’re going to give you some tips on how to overcome this obstacle.
Tips for Choosing the Best Exchange in India
1
License
The first tip for choosing a betting exchange in India is to check the licensing information. If you’re betting at an unlicensed betting exchange, then you are at risk of losing your money. And we’re not just talking about a single bet. You might lose all of your money on your exchange account.
2
Betting Markets
One of the common complaints with a betting exchange is that there aren’t enough markets. Even if you’re willing to place a lay bet, you will often find it to be the case where no one is placing a backing bet. When you’re choosing a betting exchange check out the available betting markets.
3
Payment Methods
Having support for the payment methods that you want has the same importance in betting exchanges in India as it does in a sportsbook. Get yourself familiarized with the popular payment methods in India. That should give you a good idea about the payment methods you can expect to find in the best betting exchanges.
4
Welcome Bonuses
Many betting exchanges provide welcome bonuses as a way to entice new customers. Bonuses like these can take many forms, including free bets, deposit matches, and other special deals. Users can improve their betting experience and increase their starting betting amounts by taking advantage of welcome incentives. These rewards typically come with specific requirements and restrictions, so it's important to read the fine print. There may be conditions that state that a certain minimum deposit, number of wagers, or minimum odds must be met before bonus funds can be withdrawn. Users may make the most out of their money and avoid scams by comparing the welcome bonuses offered by various betting exchanges and choosing the one that best suits their playing style and objectives.
5
Commissions
Commissions on winning bets are usually charged by betting exchanges, as opposed to traditional sportsbooks. The commission is subtracted from the proceeds of successful bets and is the principal source of revenue for the exchange. Some exchanges have a flat fee for commissions, while others have tiered structures that are dependent on betting volume or some other metric. Think about the commission rate and how it affects your profit margin when you choose a betting exchange. Despite the allure of lower commission rates, other considerations, such as market depth and liquidity, can make them irrelevant. The most important thing when choosing a betting exchange is to find a happy medium between commission rates and other aspects like betting markets, payment methods, and user experience.
How Betting Exchanges Work
We’ve talked about how a betting exchange is different from your traditional sportsbook. But how do these companies work? If you’re seriously thinking about getting into betting exchanges in India, then you need to understand the business model.
In betting exchanges, there are two types of bets. The lay bet and the back bet. Backing a bet is wagering that the outcome has a chance to happen. This is the same as placing a bet on a sportsbook.
But when it comes to lay bets, you are betting against the outcome set by the exchange. This is the part where you get to set the odds and the payout is dependent on you.
When it comes to the business model, betting exchanges charge a commission on all won bets. That’s how these companies make their money which is completely different from a regular bookie.
How to Use Exchanges
You will have a much easier time figuring out how to use an exchange if you have experience betting on sportsbooks. But in case you don’t here is a quick and simple guide on how you can start using a betting exchange.
The first thing to do obviously is to create an account. You will need to provide personal details that can be used to identify you as the original owner of the account. We recommend using a strong password to secure your betting exchange account.
You will also need to set up your account with a payment method to deposit and withdraw funds. To do this, you can click on the wallet button on the website. If that is not available, you can find this option in your user account details.
Best Exchange Betting Apps
The best betting exchanges almost always support a mobile app for the customers. A betting exchange app gets the most use out of punters in comparison to a desktop version. This is why we’ve gathered a list of some of the best exchange betting apps.
📱 Dafabet
Dafabet makes a reappearance on our list for a betting exchange app. The interface for the Dafabet exchange app is really easy to use for beginners and active players alike. You can find everything that you need and want right at your fingertips in the Dafabet app.
📱 Parimatch
Parimatch already has a reputation as one of the most popular sportsbooks in India. But did you know, they also have an even better app for their betting exchange? You can find betting exchange options for Cricket and Football at Parimatch.
📱 1xBet
And there’s nothing bad that we can say about 1xBet. It has all the latest features and regularly updates the betting markets. If you don't want to miss out on any of the betting actions, then 1xBet is the way to go. It offers the best features and markets for your betting exchanges.
✔ Pros and Cons ✘
✔ No limit on wins
✘ Difficult to find someone for matching bets
✔ Lay and Back bets
✘ Number of betting exchanges are really low
Popular Payment Methods
Payment options are going to make your life a whole lot easier at a betting exchange. Especially, if it has the ones that you’re looking for. Here, we are going to talk about some popular payment methods in India suitable for betting exchanges.
💳 Credit/Debit Cards
You can use Visa or Mastercard to make deposits and withdrawals from popular betting exchanges in India. It’s one of the faster of all the payment methods.
💳 Skrill
Skrill is widely used in India for payments. It’s incredibly versatile and quite easy to use. It also supports instant deposits and quick withdrawals which makes it a great payment option to be used at a betting exchange.
💳 Paytm
If you’re looking for a payment method that’s supported locally, then Paytm is what you need. The company is based in India and is used to make all kinds of transactions. It’s perfect for betting exchanges with its ease of usability.
Like many aspiring writers, Jarin focuses on bringing life to the text for her readers. She is an avid sports lover, growing up in a family obsessed with bookies. She is an expert in the iGaming niche and has secondary obsessions with Gardening and cooking.
If you are using the app from a well-known betting exchange, then it’s going to be great. You will find an easy-to-use interface, full of the best features in India.
If you know about betting exchanges, you should also know that you set your own betting odds in a betting exchange. That way, you will enjoy nothing but the best odds.
