A betting exchange is where users bet directly against each other on outcomes, bypassing traditional online betting sites. It has recently gained tremendous popularity across the country. Users earn money through commissions on winnings in this market.
We have reviewed the betting exchange sites, how they work and what makes them stand out. Check out our handpicked selection to understand the ins and outs of these platforms and how they function in online betting.
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How do betting exchanges work?
A betting exchange works differently from a traditional betting site. It’s a peer-to-peer platform without a sportsbook to set odds for events. Instead, the odds are set by users (backers and layers) on the exchange.
You can place two kinds of bets on betting exchanges: A back bets on an outcome to win, while a lay bets on it to lose. A backer needs to accept a layer’s price and vice versa; if a backer’s bet loses, the layer keeps the stake.
If the bet wins, the layer pays the backer based on the agreed odds. Unlike traditional sportsbooks, which take on risk by setting odds and accepting bets, here you don’t take any risk. Exchange betting goes through as long as someone is willing to match your bet.
How to make money on exchange betting?
Users can win tremendous money by playing on online betting exchanges (Source: Wikipedia). If you are a new bettor, there is no need to worry. We have listed all the required steps below on how to place your first exchange bet:
- Choose a trustworthy betting exchange platform.
- Register for a new account by providing your details and deposit funds.
- Once your account is funded, click on the exchange betting section on the platform.
- Select a market to bet on from the available list and decide whether to back or lay a selection.
- You can set your price or accept the one offered.
- Upon finalising all the details, place the bet by tapping on the “Confirm” option.
Betting Exchange Bet Types
There are various types of bets, each unique in the betting exchange. The more selections you choose to play, the higher the payouts. Here’s a breakdown of some of these bet types:
- Double: This simplest form involves wagers on two events’ outcomes.
- Trebles: This is a step from doubles, including betting on three events’ outcomes.
- Accumulators are more complex, combining four or more selections into a single bet, but the payouts would be much higher.
- Round robin: In a round-robin bet with three selections (e.g., cricket matches with teams A and B), the bet is divided into two doubles and a treble, resulting in four bets in total.
- Yankee: A Yankee bet involves four selections, amounting to eleven bets: six doubles, four trebles, and a four-fold accumulator.
- Patent: A bet consists of three selections, resulting in seven bets: three singles, three doubles, and a treble.
Top Betting Exchanges – Reviewed and Ranked
Explore real money-betting exchanges, where people can bet against each other instead of a bookie. Check out the below section to learn more about these platforms and their unique features:
Satbet – Best Betting Exchange Events
Satbet is one of the best betting exchanges on our list. It offers extensive sports coverage, featuring both domestic and international competitions.
You can complete the Satbet registration and place bets on various sports, such as Football and cricket, with the availability of various exchange events.
The known events in football include Totals, Double Chances, scoring for both teams and Handicaps. In contrast, cricket lovers can bet on exciting events like Match winners, Total sixes, Total Fours, Toss Winners, and many more on Satbet.
Users can also place these bets on the Satbet app, which is easy and safe to download. This app functions just like the desktop version, providing users access to all the betting features.
Dafabet – Best Betting Exchange Offers
Dafabet is a well-known betting exchange site in the country. It offers an attractive interface and numerous features to draw users. Promotions and bonuses are vital for gaining extra funds.
Starting with a welcome bonus of 30,000 INR for sports bettors, the Dafabet exchange is an excellent option for beginning the betting journey.
Other promotions include a 20,000 INR cashback offer, Parlay bonuses, deposit bonuses, VIP programs, and more, all available with Dafabet registration. The bookie also offers one of the best betting apps. The Dafabet app is available for both Android and iOS users.
This bookie also provides a highly mobile-friendly experience with the Dafabet app for Android and iOS. Download the app for free and explore these attractive bonuses under the “Promotions” section.
Fun88 – Most Reliable Betting Exchange Site
The Fun88 is one of the most reliable betting exchange sites and a hub for three different platforms for betting, each with unique back and lay options:
- Fun88 Exchange
- 9Wickets
- Exchange Lotus Exchange
Among these, the most recommended one is Fun88 Exchange for its extensive range of sports betting events. The user-friendly layout makes navigating and placing bets on multiple events easy.
This bookmaker also allows mobile betting through the Fun88 app, which is available for Android and iOS devices. You can access the exchange feature within the app, which offers higher, more competitive payouts.
Cricket Betting Exchange
Cricket is India’s favourite sport, so it’s no surprise there are many cricket betting exchange sites. These offer various cricket events, from big international matches to local games and even more minor leagues worldwide.
Popular sites like Fun88, Dafabet, and Crickex give you great odds, so you get the most out of your bets. They also ensure you can bet early on significant tournaments like the Indian Premier League and others on the Cricket betting exchange.
Bookies like Indibet and Ekbet offer incredible bonuses and promos, like welcome bonuses and free bets, to keep things exciting on Cricket betting exchanges. Live betting and live streaming are also available on these sites for more excitement.
The bookies mentioned above are also available in-app formats for cricket betting, and these betting exchange apps are free to download on your devices.
Crickex – Popular Betting Exchange
Crickex is a relatively new betting exchange site in India, yet highly recommended for those looking for a quality betting exchange experience. This bookie offers a wide range of betting options on all popular sports.
Crickex exchange is a secure option, as it is licensed in Curacao and operates legally. You can bet on various outcomes, from specific scores to final results.
Payments and withdrawals are also convenient, with options including bank deposits, Rupee-O, UPI, PhonePe, PayTM, IMPS, and iPay. Users can play exchange betting using the Crickex app on iOS and Android devices.
Ekbet – Cricket Betting Exchange With Best Odds
Ekbet is a betting exchange where players can bet on sports events, including Cricket, more directly with each other online. It operates similarly to financial exchanges, with organisers earning through a commission on winnings rather than margins.
This setup enables users to offer attractive odds with higher payouts. All cricket lovers can complete the Ekbet registration and find competitive odds on international and domestic tournaments with exciting betting events.
For more convenience, users can download the Ekbet app for free and explore the cricket betting odds on various attractive markets.
IPL Betting Exchange
The Indian Premier League is one of the most significant cricket leagues globally, drawing millions of fans yearly. With ten teams from major Indian cities, it’s a highly competitive event and an excellent opportunity for bettors to claim huge profits.
This league offers various betting options, from simple match-winners to more complex bets like total runs scored. This diversity makes IPL betting exciting, with ample opportunities to wager and predict outcomes.
Many online cricket betting sites in India, such as Ekbet, Dafabet, Fun88, etc., provide competitive IPL odds to help you make better bets. These exchange platforms offer both live and pre-match betting.
So, if you’re a cricket fan and bettor, make the most of the IPL betting season by exploring these options and win huge on real money betting exchanges.
Indibet – Best Cricket Betting Exchange Live
Indibet Exchange is an excellent platform with various betting options, adding a layer of fun and excitement to the game. Its betting exchange includes live stats and live streaming options on all the cricket matches.
This exclusive live betting feature and live streaming enhance the betting experience, allowing players to bet better as they follow the action in real-time on Indibet.
The Indibet app, available for Android users, offers a range of live betting options, including accumulators, lay bets, parlays, and more.
Bet on these wide ranges of opportunities on the betting exchange live and potentially win big. Additionally, check out the available prize pools and luxury prize promotions offered by the bookmaker for extra betting funds.
FAQs – People Also Ask About Betting Exchange
Are betting exchange sites legal in India?
Yes, betting exchange sites are legal in India due to the absence of federal laws specifically prohibiting online betting. Users can check out the above-listed platforms, which are legally licensed and safe to play exchange betting on.
What are the best betting exchanges in India?
Several betting exchanges are famous and trustworthy in India. Some of the best are Fun88, Indibet, Crickex, and Dafabet.
What do ‘back’ and “lay” mean in a betting exchange?
In a betting exchange, ‘back’ means betting on an outcome to happen, similar to traditional betting, whereas ‘lay’ means betting against an outcome occurring.
Are betting exchanges better?
Betting exchanges offer a wider variety of bets and typically have better odds than traditional bookmakers, though a small commission is taken from your winnings.
Does every bookmaker have a betting exchange section?
Only some bookmakers offer a betting exchange section, and only a few options are available in the Indian market, such as Satbet, Dafabet, Fun88, etc.