BEST BETTING EXCHANGES IN INDIA

Ever since the first betting exchange has been launched, they have slowly become a staple in the online betting world. The original idea was to make and give it back to the punters instead of letting traditional bookmakers determine the odds at will. In the years since, the concept has been enthusiastically embraced by punters everywhere.

Here we want to give you a thorough overview of what betting exchanges are, how they work, why you might want to try them, and the best betting exchanges In India out there.

Best Betting Exchange Sites in India

1

1xBet

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Parimatch

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Satbet

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10CRIC

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Dafabet

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BETTING EXCHANGE GUIDE

Welcome to our in-depth guide to betting exchange sites in India! If you have been curious about betting exchanges but don’t know where or how to get started, you have come to the right place.

Beyond explaining what they are and how they work, we also want to tell you how to choose among the online betting sites out there, whether there are betting exchange apps, if there are cricket betting exchanges, and so much more.

We will also introduce you to the best betting exchanges in India. So, let’s get started!

Table of Contents:

  • What is a betting exchange?
  • How does exchange betting work?
  • Top 5 Betting Exchange Sites in India
  • How to choose a betting exchange site?
  • Advantages of betting exchanges
  • Betting exchange apps
  • Strategies to use on betting exchanges
  • Betting Exchange FAQs

WHAT IS A BETTING EXCHANGE?

Betting exchanges connect punters who want to place bets on certain outcomes at odds they themselves determine. The betting exchange operator provides the platform and ensures that the transaction between the bettor who backed a bet and the bettor who laid that back occurs.

For this service, the operator charges a commission on wins (never on losses) of 2% to 5% on average.

In other words, betting exchange sites such as Satbet India enable punters who have opposite views on the outcome of a match or a competition to use their platform to ‘back’ a player, a team or a horse to win whilst the other gambler ‘lays’ the same player, team or horse to lose.

Such bets are only accepted if another gambler matches them. For example, if you are backing Afghanistan to beat Zimbabwe in an ODI match, there must be another punter who believes that Zimbabwe and not Afghanistan will win the match.

HOW DOES EXCHANGE BETTING WORK?

Let’s take the above example to explain in simple terms how exchange betting works. If you believe Afghanistan will beat Zimbabwe, you are the one ‘backing’ the bet, and the other punter is ‘laying’ the bet. On top of that, you get to choose the odds at which you want to back or lay the bet. All within reason, of course.

For this to work seamlessly, betting exchange sites such as Satbet or Fun88 use dedicated software that instantly matches bets.

As such, once you have backed a bet, it will appear as an available option among the markets for the match and outcome you backed. Now it is up to another punter to decide whether they want to ‘lay’ your bet because they believe that Afghanistan will lose.

Accordingly, they will accept the betting odds you determined and match your bet when they lay it.

Another thing to know is that on betting exchanges, odds are usually represented in decimal terms, and instead of the fractional 2/1, you would get the decimal 3.00. A stake of ₹100 would return ₹300 with the stake included.

Lastly, punters who lay bets must ensure they deposit enough funds to cover their bets. Using the previous example, if the odds that the layer is offering for Afghanistan beating Zimbabwe are 1.67 and another gambler backs this result with an INR 1,000 deposit, then the layer must make sure that he has at least INR 1670 in his account to pay out the backer if this turns out to be a winning bet.

TOP 5 BETTING EXCHANGE SITES IN INDIA

Online betting in India has seen a surge in popularity, and many international betting sites now accept players from India. However, betting exchanges still need to be more widely available. Only a few betting sites offer exchanges, but their number is rising.

Compared to a traditional betting site, a betting exchange is less profitable for a company, as the only source of revenue is a fixed commission. 

However, once the volume of users increases, running an exchange becomes more profitable. With most Indian punters getting well-versed in online betting, the next natural step will be a rise in the betting exchanges, where they can find better value for their wagers.

Some of the most popular betting exchange sites in India currently are:

  • Fun88
  • Satbet
  • Crickex
  • 1xBet
  • Exchmarket
Fun88

Fun88: Exchange Betting Site for Indian Traders

Fun88 India has been around for more than a decade now, being founded in 2009, and is now one of the most popular online sportsbooks in the Indian market. In addition to being an online betting site, the group now also offers a betting exchange, making it one of the very few available for Indian players.

Why you should choose Fun88 as your cricket betting exchange site:

  • Multiple preferably deposit options for India
  • Wide selection of bets in betting exchange
  • Solid trading volume on cricket markets
  • Great amount of promotions

The best part about playing real money games on Fun88, including the betting exchange, is completely legal in most parts of India.

satbet

SATBET EXCHANGE - THE MOST SPORTS TO BET ON

Satbet is still a budding betting site in India, but they have offered a betting exchange, making it a great option for Indian punters wanting more.

Their Satbet exchange is not only accessible and easy to use, but they also offer more sports than we have seen at any other exchange thus far. If there is one argument to check them out, it is certainly this one!

Let us tell you why else you should choose them as your cricket betting exchange site:

  • Markets for cricket, soccer, tennis, basketball, rugby and boxing
  • Generous bonuses
  • Excellent IPL betting
  • Satbet app with access to the exchange

And on top of that, they have all the favourite Indian payment methods available as well!

crickex

CRICKEX EXCHANGE - THE NEWEST INDIAN BETTING EXCHANGE

Crickex is the newest betting exchange to welcome Indian customers. Indeed, they are primarily towards customers from India, and the name is just an abbreviation for cricket exchange.

Whilst they also offer a traditional sportsbook, the main action takes place at their exchange, which covers cricket, soccer, tennis and Esoccer. There is also an online casinoand live casino tables available to check out.

Here are the main reasons why you should give Crickex a try:

  • Exchange powered by Betfair
  • Great selection of bonuses and promotions
  • Some live streaming is available
  • Website easy to use

We also like that their support is available around the clock, and the Crickex app makes the services easily accessible.

crickex

1xBET EXCHANGE - A MASSIVE INTERNATIONAL BOOKMAKER

1xBet was one of the first international bookmakers to enter India, and they have one of the largest portfolios of sports and casino games available for their customers. 

This includes a betting exchange, though we are still determining if it is currently live as we could not access it recently.

Even so, this is a betting site worth checking out for the following reasons:

  • Available in Hindi
  • Single-wallet provider with plenty of sports betting and online casino games
  • Excellent cricket betting site
  • 1xbet app for iOS and Android
  • Live streaming available

The bookmaker also offers high betting odds for many events, making them popular among punters.

exchmarket

EXCHMARKET EXCHANGE - EASY-TO-USE CRICKET BETTING EXCHANGE

Exchmarket is also a new exchange betting site in India. They use the same betting exchange platform as Satbet, meaning they have the same sports to bet on at their exchange.

With a traditional sportsbook and plenty of online casino games, Exchmarkethas much to offer besides their exchange, so we recommend you check them out.

Here are more reasons why we like them:

  • Excellent portfolio of game providers
  • Popular Indian payment methods
  • Easy-to-use betting site adapted for mobile use
  • Strong focus on fairness

Moreover, you can contact them on WhatsApp if you have problems; they are ready to help around the clock!

HOW TO CHOOSE A BETTING EXCHANGE SITE?

When choosing a good betting exchange, there are a few things that it should have when comparing them against each other. We typically consider the following aspects to be vital:

  • Properly licensed betting operator to ensure fairness
  • A good selection of sports and markets in the exchange
  • Low commission on winnings (anything above 3% is on the higher end)
  • User-friendly design and easy navigation
  • A good range of Indian banking methods 
  • Fast withdrawals
  • A mobile app that includes access to the exchange

If one or two of these need to be improved or more up to par, we are still looking at a pretty solid betting exchange. But we generally prefer high marks on all these points.

HOW TO USE A BETTING EXCHANGE?

How do you use a betting exchange? How does the betting exchange login work or place a bet? Are there huge differences in using a traditional sportsbook?

Not at all. For the most part, you will follow the same steps when using a traditional sportsbook. Let’s use the Satbet betting exchange app as an example.

Betting Exchange Login

Suppose you downloaded the cricket exchange betting app and registered an account. Then follow these steps:

  • Launch the app and click on “Login”
  • Enter your username and password
  • Then click on “Login” again

Placing a bet at the exchange

We start by explaining how to ‘back’ a bet on the exchange:

  • Launch the app or site, log in and click on “Exchange”
  • Click on “Cricket” to find an event you are interested in (such as the IPL)
  • Let’s say you want to do IPL betting on the overall winner event.
  • All teams are listed in the “Winner” category (if a team is already out, you won’t be able to back or lay a bet on them)
  • Pick the team you believe will win and click on the odds in the blue field
  • You can now adjust the odds if you like
  • Then determine your stake and click on “Place Bet” if you are satisfied
  • Wait for a player to lay your bet

Once a player lays a bet, you can wait for the outcome of the IPL to see whether you picked the right winner.

And how do you ‘lay’ a bet?

You start with the same steps as outlined above up until you see the list of teams in the “Winner” category:

  • All backed bets will show on the list
  • If you decide to lay a bet, firmly believing that the Gujarat Titans, for example, will not win and another bettor has backed a profitable bet, you can lay their bet.
  • As such, click on the odds in the red field and choose your stake.
  • You will be shown how much you will lose if incorrect, reflecting the amount you need in your account to cover your bet.
  • Once you are certain of your selection, click “Place Bet”.
  • If your account holds insufficient funds, you will be asked to make a deposit.
  • And then you wait for the outcome of the IPL.

The actual process of backing or laying bets isn’t overly complicated. But understanding what you are doing and why you should back or lay bets is something you will learn with experience.

When new to betting exchanges, start with simple bets and smaller stakes to gain that experience.

ADVANTAGES OF BETTING EXCHANGES

Let us introduce you to the two main advantages of using betting exchanges: getting real odds and trading bets.

REAL ODDS

The biggest advantage of betting exchange sites such as Satbet is that they are free markets and that the betting site does not set the odds. With traditional betting sites, finding the best odds means shopping around many sites and comparing their offers.

In the end, you will find that betting exchange prices are still higher than the highest prices that betting sites offer. This is because, with betting exchanges, there is no, what is known as a bookmaker margin.

The bookmaker margin is the adjustment of true odds into odds, ensuring that the betting site always makes a profit from a given wager. For example, when Afghanistan are playing Zimbabwe, the relative probability of an Afghanistan win is 60% (1.67), and the probability of a Zimbabwe win is 40% (2.50). As you can see, when combined, they add up to the expected 100%.

However, when a betting site adjusts the odds, they will always exceed the expected 100%. For example, an Afghanistan win will be priced at 70% (1.43) and a Zimbabwe win at 50% (2.00). The odds are much lower. Below you see a representation of your real winnings compared to your adjusted odds winnings with which the betting site always makes a profit.

Real Odds (Betting Exchanges)

  • Afghanistan to win - ₹60 stakes at 1.67 - to pay out ₹100

  • Zimbabwe to win - ₹40 stake at 2.50 - to pay out ₹100

Adjusted Odds (Bookmaker)

  • Afghanistan to win - ₹60 stakes at 1.43 - to pay out ₹85

  • Zimbabwe to win - ₹40 stake at 2.00 - to pay out ₹80

At a betting exchange, you can back a bet for Afghanistan to win on odds of 1.67 and be certain that these are the odds you will receive as long as someone lays the bet.

You will only pay a small commission on your win as determined by the operator, which is still far lower than the bookmaker’s margin in a traditional sportsbook.

TRADING

A trader in betting exchanges is very similar to an arbitrageur in normal betting (a gambler who safeguards his bet by betting on the opposite outcome to minimize losses or to ensure profit). Betting exchanges give gamblers a chance to trade on sporting events to ensure profit.

For example, a trader can bet on Royal Challengers Bangalore to win the IPL at odds of 4.00 by placing a stake of ₹100.

However, if the chances of Royal Challengers Bangalore winning the IPL increase due to, let’s say, the Sunrisers Hyderabad or the Mumbai Indians not mounting a challenge, then their odds of winning the IPL will decrease to somewhere around 2.00.

In this situation, a trader can switch from backing the Royal Challengers Bangalore to win to laying them with ₹200 to lose at odds of 2.00 so that he can lock in a guaranteed profit of ₹100, whichever the final winner of the IPL is.

Trading Example

Events

Odds

Stake

Win/Loss

Back RCB to win the IPL

4.00

₹100

₹400

Lay RCB not to win the IPL

2.00

₹200

-₹200

This means that the following situation will occur in which no matter which team wins the IPL you will still end the season as a winner with a guaranteed profit:

Possible Winnings from Backing   

₹400    

Total money invested (Stake + Money Laid)

₹300      

Profit

₹100

 

Possible Winnings from Laying  

₹200    

Total money invested (Stake)

₹100      

Profit

₹100

Again, trading requires a bit of experience. You very much need to be on top of things as the action unfolds. But if done successfully, you cannot limit your losses and always walk away with a profit.

BETTING EXCHANGE APPS

With mobile betting being far more used than betting via desktop or laptop computers, we will also take a look at the best betting exchange apps out there.

All mobile betting apps supplied by bookmakers that operate betting exchanges do include access to the betting exchanges. So, you can choose any of them. But we have our favourites listed below.

dafabet

DAFABET EXCHANGE APP

Dafabet Sports is among the best Asian bookmakers, welcoming customers from India and Asia. This excellent betting site has a traditional sportsbook, online casino, live casino games and a betting exchange. Indeed, their betting exchange was one of the first Indian customers were able to use!

The Dafabet exchange app is available for Android and iOS users which you can download directly from their homepage. 

Here is what we like the most about it:

  • Quick and easy download from the Dafabet homepage
  • Access to all preferred Indian banking methods
  • Sportsbook, casino, live casino, and exchange all in one app
  • Exclusive app promotions are available
  • Easy to use

Dafabet is trustworthy and one of the most high profile bookmakers in the world

dafabet

FAIRPLAY ECHANGE APP

Fairplay Exchange is a great Indian betting site that does its best to play fair. And offers fair play. We prefer their mobile betting app for its streamlined design and more intuitive navigation than you can find on the homepage.

And the fairplay app includes access to all products, which means you can also use their betting exchange on the mobile app.

Here are the main reasons we like the Fairplay betting exchange app:

  • The one-for-all app, including all sports betting and online casino games
  • Intuitive user interface
  • Push notifications available
  • Supported in several different languages
  • 24/7 customer service

Fairplay is one of the easiest to use of all bookmakers out there!

dafabet

WINDADDY EXCHANGE APP

WinDaddy exchange is another great cricket betting site in India that we like to use and can recommend to you. They promise to deliver one of the best betting experiences, and they are certainly giving their best to deliver.

This also includes their Windaddy app for Android, which you can download directly from their homepage. It includes their betting exchange, which is why they are part of this list.

Let’s take a look at what we like about their app:

  • Stylish design with a user-friendly interface
  • Regularly updated
  • Access to all of WinDaddy products
  • Loads quickly and updates frequently during live betting
  • Customer service available in English and Hindi

You cannot go wrong choosing the WinDaddy betting exchange app.

MOBILE BETTING EXCHANGES

Above, we have explained how to use betting exchanges using the example of the Satbet app, which is very much the same as for all mobile betting exchanges we have encountered.

Of course, there are always slight differences based on the layout of the app and the functions it provides. For example, let’s look at the WinDaddy betting exchange app:

  • You can download the app directly from the mobile page via a dedicated button.
  • Once downloaded, install the app by allowing your device to “install from unknown sources”.
  • After installation, launch the app and log in to your account (or register one).
  • You can access the exchange via the dedicated quick-access button at the bottom. Or you open the side menu and click on “Exchange” there.
  • Then check out the sports listed here. Click on “Cricket”, for instance, and find the event, match and market you want to back or lay a bet on.

It is super easy to do, and even though you use a much smaller screen than on a desktop computer, we have found mobile betting exchanges very accessible.

STRATEGIES TO USE ON BETTING EXCHANGES

Get our top tips on how to use betting exchanges by OCBs betting experts!

VERIFY THE ODDS

In almost all cases, a betting exchange will provide better odds for the same event than a sportsbook. But it is always advisable to look for `value odds´. One can also keep track of various Asian spreads to get a general sense of the direction in which the odds are moving.

WAGER THE CORRECT STAKE

One needs to divide the stake amount among different markets in such a way that one can earn a profit while taking minimum risks. Of course, the higher your risk, the more your returns could be. But one must remember that to pursue betting for the long term, one must adhere to strict money management rules.

USE THE CASH-OUT OPTION

Most exchanges, including Betfair, offer the flexibility of cashing out your bet without waiting for the entire event to finish. Using this option, one can walk away with a decent profit without taking too many risks.

MATCHED BETTING

Most online sportsbooks offer free bets as a promotion to their users. You can use these free bets for matched betting to essentially guarantee themselves a profit. Use the free bet to place a `back´ bet on the sportsbook and place a `lay´ bet for the same on a betting exchange. So, no matter the outcome, you will make a profit from these bets.

BETTING EXCHANGE FAQs

A `back´ bet means you are `backing´ a certain team or a horse to win a match or a race. Bets placed on a typical bookmaking site are usually `back´ bets.

`Lay´ bets are wagers placed while predicting that a certain event `will not´ occur. If you place a `lay´ bet on a horse during a race, you predict that the horse will not win that particular race.

No, betting exchanges do not collect any commission on a lost bet. For every lost bet, there is a contrasting winning bet. The exchange will always earn a commission in each set of opposing bets. If you place multiple bets, you are liable to pay a commission only if you earn a net profit from all the bets.

Sports trading is a trick punters use on a betting exchange to guarantee a profit, no matter the outcome. Trading takes advantage of the fluctuations in odds that may occur during a game or a tournament.

Betting exchanges are mostly not covered by Indian laws, just like most online sports betting is unregulated in India. As such, they are not illegal and are mostly safe to use. Only states already outlawed online sports betting would prohibit betting exchanges.

Yes, we believe that you can. Experienced punters often back and lay an outcome on favourable odds, ensuring they will return a profit no matter the result. The return may be smaller in the end, but it is still better than losing your entire stake.

Betfair is the original betting exchange, established in 1999 as a response to traditional bookmakers. It was the first time bettors were able to back and lay bets against each other with Betfair simply providing the platform to do so.

Betfair is licensed by the Malta Gaming Authority as well as the UK Gambling Commission. This means they are very well regulated and thus safe to use.

Betfair is currently not available in India, though they have been in the past and may be again in the future if online betting gets properly regulated in India.

Yes, quite a few betting exchanges we are introducing are indeed powered by Betfair, which is possible thanks to licensing agreements between the operator of the betting site and Betfair. You are not accessing Betfair directly when using these betting exchanges. Yet you still get the same excellent betting exchange experience that Betfair provides itself.

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