What Is a Betting Exchange? 🤔
Betting exchange can be a bit intimidating at first, especially if you have always interacted with traditional sportsbook and their way of betting. Betting exchanges offer you a new dimension to online betting and more freedom in betting.
A betting exchange is different from traditional bookmakers with regard to how the bet is placed. When you are dealing with a bookmaker, they will place the bet for you and also indicate the odds of that bet for you. With exchange betting, you will lay a bet with another individual through betting exchange sites. The betting exchanger used, will require a small percentage of the possible winnings.
These betting exchange betting sites will also offer you much better odds than a bookmaker would, as bookmakers determine their own odds. This allows you to bet bigger and win bigger whenever you interact with a betting exchange betting site.
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Best Exchange Betting Sites in India 🏆
There are very limited sites within India that offer players betting exchange as an option. To make it easier for you to find the best betting exchange sites in India, we have compiled a list for you with our top 3 betting exchange sites.
Parimatch Exchange
Parimatch offers multiple sports that you can bet on via the betting exchange offered by them. This includes cricket, tennis, boxing, football, and many others. The site is easy to navigate, and the site is very well-designed.
Parimatch offers you the opportunity to bet with other players all over the world. This makes getting a match on your bet easier and faster.
They also accept a number of well-known and trusted methods to deposit and withdraw money, and they have all the correct licenses and fair play.
10Cric Exchange
If you are a cricket enthusiast and follow cricket intensely and use your love of the sport to make money, then 10Cric exchange is for you.
10Cric only offers you exchange betting when it comes to cricket and not any other sports. Due to this, however, you can use cricket exchange betting on almost every match played!
This site is also well-known, fully licensed and makes use of multiple payment methods as well as various withdrawal methods. A favourite in India for all their cricket needs.
Betway Exchange
Betway is another exchange betting site in India that offers Indian players to bet against others from all over the world. They have numerous sports available for you to bet on and you can bet in different currencies!
This site offers multitudes of other services besides exchange betting, allowing you the convenience of depositing your money once and enjoying your gambling experience thoroughly before withdrawing your winnings again.
Due to the site being international, there are numerous depositing methods available for you to choose from and multiple methods of withdrawing your money after you have finished your betting.
Betway is fully licensed by multiple international authorities, offers safe and fair play and has world-class customer service.
Best Betting Exchange Apps 📱
#1 Betting Exchange
#2 Betting Exchange
2
Play Now✔️ 7 betting exchange markets.
✔️ Sportsbook variety
✔️ Optimized Android betting exchange app
✔️ Welcome bonus
How Does A Betting Exchange Work 🧐
Using a betting exchange is similar to sportsbook betting, but there are a few key differences. Betting exchange sites in India allows you to bet with other people on the outcome of an event, and not just with a sportsbook.
For example: While watching the IPL cricket match, you bet your neighbour on the outcome. You say that India will win, and you bet 100 INR, while your neighbour says that Australia will win and also offers you 100 INR. If you win, your neighbour will have to pay you that 100 INR.
The best betting exchange sites in India work similarly. It will connect you to a peer that also wishes to place a bet on the same thing you want to. The odds are more flexible, and you can determine how much you would want to bet. Once the outcome has been reached, the losing party will have to pay the amount they owe, depending on the odds. The betting exchange site will take a small commission on the winning.
As soon as you have placed your bet and determined the odds that you are comfortable with, you need to await a peer to match your bet. If your bet does not get matched, then you will not lose your money, and you won’t be liable for the commission fees. You can also go onto the betting exchange site, and match a bet with another peer. This option allows you freedom in the betting world!
FAQ🙋♀️
Frequently Asked Questions About Betting Exchanges
🏋️ Who is the biggest betting exchanger?
Betfair™ is currently the biggest betting exchanger in the world.
🎲 How do betting exchanges make their money?
When making use of a betting exchange service, there is a commission fee charged to you. This fee is a percentage of the estimated winnings you could achieve.
📖 Difference between betting exchanges & sportsbooks?
A betting exchange tends to give you much better odds than most Sportsbooks ever will, and if you should win, you will be expected to pay a percentage of your winnings as commission, whereas a Sportsbook does not have that requirement.
🔐 Are betting exchanges safe?
Betting exchanges are completely safe as long as you ensure that the betting exchange site that you are using is safe, has a reputation as a well-established organisation, and can offer you fair exchanges.
⚖️ What is a lay bet?
A lay bet is a type of bet where you bet that something will not happen. For example, if you bet that a cricket team will not win, and they do not win, or it ends in a draw, then you win the bet.
🧐 Are betting exchanges better than Sportsbooks?
This answer will differ between individuals. Sportsbooks are much easier to understand and use than betting exchanges, however, betting exchanges offer better odds without the need of following markers or stake boundaries.
🤑 How does a betting exchange work?
Essentially, a betting exchange over gamblers a platform where they can bet against one another and set their own odds, while traditional bookkeepers will set the odds for you as well as the type of bets that you can place. Read more under our “How Does A Betting Exchange Work” section.
👍 Are betting exchanges legal within India?
Betting exchanges are legal within India as the betting exchanges take place online and not at land-based casinos. Ensure that it is legal within your specific state.
Betting Exchange Terms and their Meaning 📢
Starting with exchange betting can be exciting and rewarding, but confusion can step in as soon as some of the betting exchange terminologies are used. So let us help. There are only two terms that you should be familiar with when it comes to betting exchange sites.
Back Betting
This term is used when you are betting for a specific outcome to be achieved.
For example, you are making use of a cricket exchange betting site, and you are betting that India will win! Then you are backing India, so it is known as a back bet.
Lay Betting
This is the opposite of a back bet. In this case, you are betting that the specific outcome will not happen.
For example, you are again making use of cricket betting exchange sites, and you realise that India may not win while others argue that India will win. You then bet that they will not win. The peer that did the back betting, and said that India would win, will then lose the bet.
How to Use A Betting Exchange? 🤑
Using a betting exchange is similar to using a traditional sportsbook. Let’s take the example of the Satbet betting exchange app:
Betting Exchange Login
- Launch the app and click on “Login.”
- Enter your username and password.
- Click on “Login” again.
Placing a Bet at the Exchange
- Launch the app or site, log in, and click on “Exchange.”
- Find the event you’re interested in, such as the IPL, by clicking on “Cricket.”
- Choose the specific event, like IPL betting on the overall winner.
- Pick the team you believe will win and click on the corresponding odds.
- Adjust the odds if desired and determine your stake.
- Click on “Place Bet” to finalize your bet.
- Wait for a player to match your bet.
To Lay a Bet
- Follow the same steps as above until you see the list of teams in the “Winner” category.
- Identify the backed bets listed.
- If you want to lay a bet, click on the odds in the red field and choose your stake.
- Make sure your account has sufficient funds to cover the potential loss.
- Click on “Place Bet” to confirm your selection.
- If needed, deposit additional funds into your account.
- Wait for the outcome of the IPL.
It’s recommended to start with simple bets and smaller stakes when new to betting exchanges. With experience, you’ll gain a better understanding of backing and laying bets.
Betting Exchange Strategies 📈
Pros and Cons of Betting Exchange Sites In India ⚖️
There are always positive and negative things about any sort of betting. None of the betting methods available has only positives. Luckily, with so many different betting methods available, you can evaluate and choose the best one for you!
Pros Betting Exchange
- Sportsbooks always take a large amount of the winnings as their cut. With betting exchange sites in India, you will only pay a small commission to the betting exchange site you use.
- You won’t be banned or limited to bet in any way. Due to exchange betting apps offering peer-to-peer betting, you will not be banned if you have a winning streak!
- There are multiple options on each bet. Traditional sportsbooks sometimes only offer you odds for the team reaching success. With exchange betting apps, you can bet that a team will lose.
- You can adjust the odds of your bet on most sites to suit your budget and needs or to allow you the time to learn how betting exchanges work.
Cons Betting Exchange
- Not all sports are offered on the best betting exchange in India. If you are interested in some of the smaller or lesser-known sports, you might not be able to find a peer to bet.
- No Bonuses are offered on betting exchanges, as with the traditional sportsbook betting methods.
Choosing the Best Betting Exchange App or Site 🤏
When selecting a betting exchange site, it’s important to compare various aspects to ensure a good choice. Here are the key factors to consider:
- Licensing: Choose a betting exchange that is properly licensed to ensure fairness and regulatory compliance.
- Sports and Markets: Look for a betting exchange that offers a diverse selection of sports and markets to cater to your preferences and betting interests.
- Commission Rates: Consider the commission charged on winnings, aiming for a lower percentage (ideally below 3%) to maximize your returns.
- User-Friendly Design: Opt for a platform with a user-friendly interface and easy navigation to enhance your overall betting experience.
- Indian Banking Methods: Ensure the betting exchange supports a good range of Indian banking methods for convenient deposits and withdrawals.
- Fast Withdrawals: Select a platform that prioritizes fast and hassle-free withdrawal processes, allowing you to access your winnings promptly.
- Mobile App Availability: Check if the betting exchange provides a mobile app that includes access to the exchange, enabling convenient betting on the go.
Exchange Betting App 🤳
Exchange betting sites offer you the ability to download their betting app from the Google Play Store or the Apple app store, depending on your phone.
This enables you to keep track of your bet no matter where you are. You can also place new bets at any time without the need of first having to locate the website. This makes betting and profiting from betting a convenience.
Online casino, Betting, Poker and gambling expert with 17+ years of industry experience. Articles featured in The Times of India, Hindustan Dainik, Dainik Bhaskar & many more. Pradeep Singh is our in-house gambling expert here at CasinoBetting.Live