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.
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 3 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.
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.
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.
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
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.
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.
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.
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 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 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.
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 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.
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.