The range of online betting exchanges is enormous all over the world, but there are only a few options that are available for online betting enthusiasts in India
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FAQ | Betting Exchanges; An Overview | Betting on Cricket in India | Benefits of Betting Exchanges | Which Betting Exchange to Pick?
Names like Betfair have managed to keep up with the pace of ever-growing online betting platforms. The unfortunate thing about this is that Betfair is not available to the Indian users. Popular sites like Dafabet available for Indian players are also very restrictive in many terms.
Online betting exchanges are being done for more than 10 years now, but still most people don’t understand the concept of betting in the online world. The one thing which is important to understand is that online betting exchange works very differently from the traditional way the bookmakers work.
After thorough research, we came up with some of the best available betting exchanges for the Indian players, some of which are also considered to be amongst the best betting sites in India. The list includes some of the top names that are available in the market and along with a wide variety of deal that Indian players can choose from.
In this article, we will further elaborate on betting exchanges for Indian players so you can start betting on these online bookmaking platforms.
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FAQ
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Betting Exchanges: An Overview
A general definition of betting exchange platforms is that these are platforms that act as a mediator for transactions made between an online bettor and a bookmaker. Their role is solely defined as a watchdog that makes sure the transaction is safely done. For this, they charge a preset amount that varies between 2 to 5 per cent of the amount under consideration.
Many betting exchange providers are available but Betfair is among the most popular betting exchange platforms. The way Betfair works is that it connects users with several matches or competitions where the bettor can place their bets and gamble online. It is considered to be the simplest form of online betting exchange which is user-friendly and easy to access. This can be done multiple times and allows users to gamble as long as they want.
One thing to keep in mind is that the bet can only be placed if the gambler has been matched by the other gambler. You can take an example through cricket. Suppose, you are in favour of England winning the match against Australia, there must be another bettor who is in favour of Australia winning the same match. In this scenario, you will be the one who will be ‘backing’ the bet and the other person will be ‘laying’ the bet. This is how the online betting scenario works. But this is just one way to bet online.
There are lots of technologically advanced software used by websites like Betfair. Consider if there is a 4-figure bet, the likelihood of a bet getting matched is considerably high. It can also be laid by more than just 1 gambler. This will increase the odds for all the users as well.
In the case of betting exchanges, the numbers are usually represented by decimal terms because the bet can be in the decimal value as well; For example 3.14. If you put up a stake of $1, then in case you win the bet where the combined total amount is $3, you will get the full amount including your initial amount.
You have to create a betting account on the selected website to gamble. The majority of business that happens on these websites is through credit or debit cards. The betting exchange platform will provide a username and a secure password for you to keep. Other payment methods might be available depending on the region you are living in.
After the process of creating an account is complete, you must deposit enough money into your betting account so you can cover your bet. You will only be able to bet the amount that is available on your account and not more than that. If you are wagering $100 on a bet, you have to be well-versed with the same amount in your betting account. You can’t bet more than you hold.
Betting on Cricket in India
Cricket is one of the most popular sports in India. Religiously followed by a huge chunk of the population, the sport has become an investment hub and a source of income generation. Betting is one such aspect of cricket that has attracted millions. Online betting sites are targeting a huge number of potential bettors which is helping them earn pretty good. Every time there is a match where India is playing against rivals like Pakistan, England or Australia, almost 1/3 of the population tunes in to watch the game. That roughly translates to more than 400 million people tuning in for a few hours.
The popularity of the game is the reason behind the increasing interest in online cricket betting. Almost all the betting websites that are trying to target the Indian audience are coming up with cricket sports betting options.
all the betting websites that are trying to target the Indian audience are coming up with cricket sports betting options
Cricket might not be as popular as soccer or tennis but the volume of bets is enormous which is why it is contributing head to head with the revenue that is being generated. Bets are also placed live for cricket just like tennis and soccer. Being a major sporting event, betting websites are providing a lot of big event bets where users have the chance to win big.
There are other sports betting options including football, tennis, horse racing, hockey, and many others where you can pre-place your bets or you can bet live as well.
Read More About Cricket BettingHow to Bet Online in India?
Betting online in India has become pretty easy. Easy accessibility has significantly increased the number of bettors over the past few years. You can start by going to any of the websites that have been suggested. You can visit Betway, Betfair or Bet365 and register yourself to start with the betting process.
The registration process is usually very simple. All you have to do is enter the necessary information and create a username and password. This will create your account and you can go on to your email to verify your account. After that, you need to deposit funds in your betting account using the payment method accepted by the website. You can use debit or credit cards, virtual payment methods like PayPal, Skrill or Neteller. The payment methods might be subjected to the availability depending on the bookmaker site you are using.
After doing all this, you are ready to place your bets online. You can choose from a wide variety of sports betting options that might be available. You can bet on various sporting events which can be real-time or upcoming.
Apart from all this, you need to know how you can withdraw money if you win a bet from your betting accounts. There are several methods you can use to transfer the winnings into your bank account. Payment methods like Skrill and PayPal can be used for instant withdrawal of funds without disclosing your bank information to the bookmaker site. Methods like these require users to pay a certain pre-set percentage of fee from the amount they are withdrawing. Withdrawal fee is subjected to the region you are living in and the bookmaker site you are registered with.
The other thing which you need to keep in mind is that there might be a case where you will have to submit your identity proof so your payments can be verified. In that case, it is highly recommended that you keep your banking information and identity proof handy.
You also have to keep track of the betting and gambling laws set by the government. In India, online gambling is not considered to be illegal per-se but the laws that have been created in are vague. This causes the situation to be pretty confusing. Therefore, you have to be careful about where you are investing your time and money. There have been cases where an unauthorised online betting site turned out to be a fraudulent party.
Read about Gambling Laws in IndiaBenefits of Betting Exchanges
There are a lot of advantages related to betting online. Betting exchanges being one of them, players who bet online have greater flexibility in choosing the currency and the kind of bets they want to place. The most important benefit is that you get significant odds and have the option to trade your money in your favour which may guarantee profit in your favour.
Real Odds Available
One of the most significant advantages of betting online with platforms like Betfair is that they are free-trade platforms and the bet you place is not pre-set by the bookmaker. You can browse around the entire website to find the best option available for you. With many other betting websites available, you are not bound to use only a particular bookmaker.
There are high and low priced bookmakers. Users are free to choose from any one of the available options depending on what their budget is. There is no such concept as over-round that relates to the current betting exchanges scenario.
Just for the sake of covering the novice as well as the advanced bettors, an over-round, also known as a bookmaker margin, is the adjustment of the true odds to ensure the bookmaker’s profit.
The odds are adjusted to always go over the expected 100%. For example, a win for England will be priced at 70% or 1.43 and a win for Australia will be priced at 50% or 2.00. The factor is that the odds are considerably lower. You can win or lose depending on the real-time scenario of the game as it is going on live.
Which Betting Exchange Sites to Pick?
It is necessary to know which betting exchange site is beneficial for you. This is mostly because of the need to increase your savings and ensure the safety of your betting amount. One thing that keeps the debate going is the different choices of players where certain bookmakers fall behind while others take the lead in certain factors.
Various betting exchange sites are popular due to the services they provide. Below are three of the most reliable betting exchange sites:
INDIBET Sports Exchange
On INDIBET you will find that they offer a wide range of Sports Exchange, which allows you to play against other players rather than the book. So when you place a wager, you will need to wait until that wager is matched by another player; once that happens your wager will be approved. The odds on the sports exchange are the best you’ll get out there. But, do know, you do need to pay a small commission on your winnings, which more than makes up for the advantage on price. The Sports Exchange also offers as many sports as you can dream of and the markets available are impressive!
Features
- Place Back or Lay bets on tennis, football, basketball and every other sport you can expect.
- Offers the best odds on your favorite team and bets.
- Bet before the game or during with the Live ‘In Play’ markets.
- Industry standard, fair commission prices.
1xBet India Exchange
1xBet was founded in 2007 and soon became one of the premier online betting exchange platforms. The website is widely considered for its online gambling and sportsbook. It currently has more than 400,000 users. Being an international website, 1xBet holds different methods based on the region you are living in. It has a pretty decent appeal when it comes to Indian users. The website is versed in a wide selection of sports betting as well as casino betting options. You can bet on cricket and many other popular sports under one platform.
Just to keep the spark alive and gather a huge user base, 1xBet has become a hub of multiple betting options with a lot of promotions and offers. It not only just deals with sports betting but a lot of games such as Mortal Kombat and Angry Birds. The Indian user-base can benefit from a range of promotions and offers specifically developed for Indian customers. Not only cricket, but a lot of other popular sports are available for you to bet on.
- You get a 100% bonus on the 1st deposit which can be up to ₹7500
- A wide selection of sports betting options are available for Indian players
- You can also bet on games like Angry Birds & Mortal Kombat
- 1xBet provides a good customer service option for its user-base
888Sport Betting Exchange
888Sport is a subsidiary of the very popular 888.com. It was launched in the year 2008 and since then, has only seen unprecedented growth and appreciation from the customers. 888Sport is licensed in the UK, Denmark, and a few other European jurisdictions. This makes 888Sport a reliable online betting option for Indian bettors. The website has established itself as a trusted and dynamic online betting platform. 888Sport offers a user-friendly and interactive interface that cater to almost every kind of user it gets. It deals with a lot of sports betting options that users can choose from.
888Sport offers a variety of sports betting options in more than 40 different sports which includes cricket, hockey, tennis, wrestling, boxing, and many other sporting options. There is one special feature called the Betting Calculator that gives you the power and the opportunity to run a range of permutations before you wager your money. Based on the odds and the leads that contain the stake you are putting up; the calculator will guide you to make your bet profitable. The only downside to using 888Sport is that it does not accept Indian Rupees as betting currency. You can deposit and withdraw funds by using PayPal, Skrill, and many other online payment methods.
- If you bet $10, you can get up to $30 in free bets
- Their 24/7 customer support service is for users to ask all kinds of queries related to betting and payments
- The 888Sport app is user-friendly and caters to all kinds of players
- There is an innovative cash-out feature available for all players
Several other online betting exchanges are available for Indian players including Betway, 10Cric, Bet365, etc. These exchange betting sites offer a wide range of promotional offers that can help you get a suitable deal. Most of these exchange sites are custom made for Indian betting enthusiasts. You can visit the official websites of each betting exchange site to get more information about the process of exchanging and the exchange fee.
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