Betting Exchange – Betting exchange sites do away with traditional sportsbooks, allowing players to bet against each other instead of bookies by setting your own odds and markets. This article focuses on the best of these platforms available to Indian players, reliable Betfair alternatives and best exchange betting apps in India.
Let’s say you are betting on a sportsbook belonging to one of the best betting sites in India. Here, whatever the market, you can bet on only one outcome. For example, you can bet on Ireland to win against England.
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Because traditional sportsbooks don’t have that option. However, you can bet on England to win against Ireland, but that will see a huge drop in odds, as England are the better team in the formats (at the time of writing).
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This is where cricket betting exchange sites come in. They allow you to bet, which means you can bet that the outcome won’t happen. Taking the example above, you can basically bet on Ireland losing to England.
Matchbook is the top Betfair alternative in India, especially suitable for casual bettors. Its market coverage is good, but the feather in its cap is their betting exchange app, available on iOS and Android devices.
Overall, we are very impressed and have no doubt in rating Matchbook as one of the most popular and user-friendly betting exchange sites in India. Minor disadvantages include commission, which is 4% higher than what most exchanges in India charge. Additionally, the site does not accept many India-specific betting payment methods. However, the matchbook should offer more than compensate for these shortcomings.
Although Cricket is new to the world of online betting, we believe they have serious potential to become one of the best betting exchanges in India. Yes, crickets have limitations, including their almost tunnel vision.
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However, on the upside, this cricket betting exchange is mainly designed for punters from India and Bangladesh who are trying to bet online. Considering that there are not many betting exchanges available in the subcontinent for players in the region, this is a significant achievement.
The launch of a sports betting exchange in India in 2021 is a real shot in the arm for the bookie, which already has its fair share of loyalists. The betting exchange has a powerful supporting infrastructure, thanks to which the odds of back and lay bets change quickly in real time.
While the exchange is adequate to meet the needs of a typical betting exchange, Fun88 needs to work on its user interface and features to accommodate experienced players looking for a fully loaded betting exchange site.
As one of the leading cricket promoters in India, Dafabet has also done a very good job of creating a betting exchange site that caters to the needs of casual and casual punters. Dafa Sports Exchange comes with many features that create a rewarding experience when you go back and bet. Notably, it is available on both Android and iOS.
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Parimatch, a recent entrant as a betting exchange site, neither pleases nor disappoints. The sportsbook on the exchange is currently limited to football, cricket and tennis, but we expect horse and greyhound racing to be introduced sooner rather than later. To make amends for the purpose of betting exchange, the operator is offering live streaming of select cricket matches under the Live TV feature (top left of the screen), but we must tell you that it is absolutely not free. Coverage interruption.
Additionally, getting easy and fast banking options for you to transfer money to your exchange account will definitely help.
Overall, we would definitely recommend the Parimatch betting exchange site, but only if others haven’t cut it for you.
The Curaçao-based betting exchange has hit the bullseye in terms of the range of sporting events it covers on its betting exchange. Besides cricket, football, basketball and kabaddi, it also covers e-sports, which gives players an extra edge.
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While we’re big fans of the variety and payment options Indibet offers, we’re not too thrilled with the website design, which is currently quite dull and unattractive.
Now that we have listed and explained the top betting exchange sites in India, we will show you how to use one. To that end, we’ve compiled three simple steps below:
The betting exchange sites we recommend offer all kinds of welcome bonuses and free bets. The best welcome bonuses are usually available when you sign up at the bookmaker, for others, you’ll need to make your first deposit. We strongly recommend using free bets as they also give you extra money to play with.
While the exact range of options on cricket betting exchange sites in India varies, here are some of the key payment methods offered by most of them:
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Withdrawals are usually processed using the same betting payment method as deposits. However, if you cannot see the deposit method as an option for withdrawal, go ahead and use netbanking. Although slow in terms of processing time, it is available across all betting exchange sites in India, making it the most reliable payment method overall.
This is the most live bet and is offered by all sports betting sites. Let’s say you are betting on the Ashes, one of the best cricket tournaments in the world. Here, a “winner” bet is when you’re backing Australia to win the trophy (or England, depending on your choice).
Basically, you are placing your money on a certain outcome and hoping that the match/event will turn out that way. Also, it is possible to achieve higher odds with this type of bet.
This type of betting is mainly what separates the bookmaker from the betting exchange. While the former only allows you to place winning bets, with the latter, ‘layered’ bets are also an option. These allow you to bet that a certain outcome of a match will not happen. When you do this, you essentially play the role of a bookbinder.
Betting exchange sites
A ‘gamer’ bet is usually risky because you have to bet against the interests of other players. So there’s a lot to lose if you don’t get it right (ie, the outcome you’re betting against happens). You should use a betting calculator before placing one on a betting exchange.
Before we explore some Betfair alternatives in India, let us understand here the problem that leads us to look for alternatives in the first place. Betfair is undoubtedly the most popular and largest betting exchange in the world, but there are two issues to keep in mind.
First, Betfair charges a large commission (anywhere between 5-7% of your winnings), which leads to profit cuts in the long run. And secondly, and most importantly, Betfair does not work in India and if you try to access it, you will get this message.
Some forums suggest you use a VPN to sign up to Betfair. However, this only goes so far. However, you can gain access and register, but you will need to verify your betting account with a valid ID, residential address and proof of payment.
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You may be asked to provide copies of these documents immediately after registration or when you proceed with withdrawal of funds. If you fail verification, your account will be suspended and your winnings will be forfeited.
Alternatives to Betfair All betting exchange sites that accept Indian bets are: Fun88, Crickex and Matchbook.
We would like to focus exclusively on Matchbook for this segment as they offer innovative betting products. And with their coverage of the sports market and competitive odds, they never let Indians down missing out on a huge betting exchange like Betfair.
Matchbook charges 4% commission on your net earnings, compared to 2% rate in India, UK and Ireland. So yes, domestic players are at a bit of a disadvantage here. Matchbook claims to join other betting exchange sites in areas such as live chat, mobile betting apps for Android and iOS and valuable promotions like 0% commission for 30 days.
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Just like we do for cricket betting apps, here are our short reviews of top three betting exchange apps in India:
Betting exchange site Matchbook is a bit unique, it has some solid selling points, but also some glaring flaws. For example, on one hand, it has high-value promotions like a beginner-friendly layout, good market coverage, live chat support and 0% commission on all sports for 30 days. If these are followed, you will feel that the matchbook is overdrawn. And it is, indeed.
But the Cricket Exchange betting app has two downsides – lack of two India-specific banking methods and charging a relatively hefty 4% commission on winnings (standard is usually 2%). INR is also not accepted as stable currency.
Featuring a diverse mix of pre-match and in-game markets, the Crickex betting exchange app stands out for offering India-specific sports like Kabaddi,
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