India is home to a lot of exchanges, especially offshore ones. That is because there are no excessive restrictions on gambling in the country; having a valid license is the only valid criterion to operate.
And this higher number is beginning to confuse players because it is difficult to know the good ones.
We understand the situation, and we are bringing to you this unbiased review that reveals the best exchanges in India. Our ratings come from deep research by experts, and we can only recommend the best to you.
Read on and enjoy.
- Get Bonus: ₹500With opening deposits of ₹500, you stand a chance to enjoy a 200% bonusPromocode: TheTrader
Pros and cons
- Mobile app for iOS and Android
- Bountiful bonuses
- Credible loyalty plan
- Functional affiliate program
- We couldn’t find a customer care phone number
- Get Bonus: £50Place 5 x £10 single bets on the Sportsbook. After your 5 qualifying bets have been settled, you will receive a £20 free bet.Promocode: TheTraider
Pros and cons
- The Best Liquidity
- Huge Amount of Markets
- Great Prices
- High Limits
- Bonus program could be better
- Lack of license in many countries
- Get Bonus: ₹10,000100% deposit bonus of up to ₹10,000Promocode: TheTrader
Pros and cons
- Instant and guaranteed withdrawals within 30 minutes
- Modern and user-friendly website
- 24/7 Live customer support
- Multi-currency betting feature for a variety of banking options
- Vast collections of exciting sports and casino gaming
- No mobile application for their betting services
- Majorly for a very few countries, including Indians and Pakistanis
- A monthly withdrawal limit of up to INR 5,000
- Get Bonus: ₹50After successfully registration, Indibet credits your account with free ₹50Promocode: TheTrader
Pros and cons
- Fast and responsive website interface
- Wide variety of sports
- Casino and live casino option
- Trusted Indian provider
- Responsive live chat customer support
- No live streaming services
- Only one withdrawal method
- Get Bonus: ₹250Get ₹250 On Every Friend You ReferPromocode: TheTraider
Pros and cons
- Quick and efficient banking options
- Appealing bonus offers and weekly promos for both old and new customers
- Players can bet on virtual sports
- Limited payment methods for non-Indian bettors
- Get Bonus:Sporttrade exchange currently doesn’t have a welcome bonusPromocode: TheTrader
Pros and cons
- Ability to lock profits
- User-friendly platform
- Top-notch customer service
- Reduced margins
- Might include a learning process
- Little information on deposit options
What is a Betting Exchange?
Many individuals assume that exchanges are your normal sportsbook, but that is wrong.
Read on and find out what an exchange really is, and how it works.
A sports betting exchange is a platform that allows you to bet against other bettors rather than betting against the house.
Traditional bookmakers work by allowing you to bet against the house, but exchanges pair you up with your fellow bettors. If you are new, it may not make much sense, but we will explain in a bit.
Check this article and know more about the differences between a betting exchange and a sportsbook.
How Does it Work?
Since a sports betting exchange allows you to bet against other players, how does it work? We will liken it to your traditional bookie once more.
Bookmakers use what we call fixed odds. When you log in, you find the fixed odds, select your betting option, and proceed to place your bet against the bookie.
If you win, your bookie loses, and if you lose, they win— that is what we mean by betting against the house.
In a sports betting exchange, there are no fixed odds. Instead, you specify the odds you prefer and place your bet.
Then another player who would love to play an opposite bet could choose your odds and bet against you. Alternatively, you could choose another bettor’s odds and bet against them.
But how is it possible to bet against each other? Logically it doesn’t seem reasonable. So allow us to explain the concept of back and lay bets.
Back and Lay Bets for Dummies
Every betting option you are familiar with in a traditional bookmaker is a back bet. So what is a back bet? It simply means backing an event or outcome. So whether you stake with a parlay, Moneyline, or any other option, you are still backing an event.
However, in an exchange, you can choose to do the opposite, betting against an event or outcome. And that is what we call a lay bet. So a lay bet is the exact opposite of a back bet. If you want to learn more then check out this article.
If a back bet on a football match is for a specific team to win, then the lay bet would be for that team to lose.
A sports betting exchange can only match two bettors placing two opposite bets. So, for your stake to be successful, if you are placing a back bet, there needs to be another player interested in placing a lay bet on the same event, at the same price as you, but at opposite odds.
When the bet is successful, there can be only one winner. So when you win, you take your counterpart’s money, and if you lose, the opposite bettor wins your money. With that explanation, you can see that an exchange is a link between two players.
Sports trading is the term used to describe what you do on an exchange. For example, an exchange provides you with price charts to see the movements when you place your bets.
The whole process is very similar to stock trading, hence, the name, sports trading. So players on an exchange are referred to as sports traders.
Matched betting is a very effective strategy that you can use to secure guaranteed profits. To do it, you need to have an account with both a bookmaker and an exchange. And the bookmaker has to offer bonuses. We recommend bookies that offer free bet bonuses; that way, real money is not at stake.
Have you heard about matched betting for the first time? Check out our guide, which was made especially for you!
Claim the free bet and look for an event with great odds, then place a back bet of your choice. Then head over to your exchange and find that same event. This time, place a lay bet on it. So you have two opposite bets on the same event.
There can be only one outcome. And that means one of your bets will win, while the other is a loss. So whether it is the lay or back bet, winning is inevitable.
But to ensure that it will end in net profit, you can use a matched betting calculator to deduct the parameters beforehand.
Difference Between a Betting Exchange and a Sportsbook
Now you will agree with us that a betting exchange is really different from a sportsbook.
Read on and get more conviction if you haven’t.
Apart from back and lay bets, a few other things differentiate betting exchange sites in India from sportsbooks.
Let’s review them:
- Betting Margins and Commissions: Betting margins are the unknown fees that your sportsbook charges you. They get away with it because everything is done with their odds calculations. As a result, sportsbooks don’t give you the real market odds. Instead, they make extra profits by factoring in some evaluations, which buffers the odds, and we call it betting margin. And different sportsbooks have different betting margins, which is why they have different odds.
- Sports betting exchanges, on the other hand, use commissions. They give you better odds, which means they make almost nothing on them. So they take their profits in percentages called commission rates, which they charge on your winning trades. Different exchanges charge different commission rates, but ideally, it should be on only winning trades.
- Price Charts: With sportsbooks, you have no idea that price movements generate profits or losses because they don’t show you. However, betting exchange sites show you the charts for each event; that way, you understand the reason for your profits or losses.
Why Should I Use a Betting Exchange?
Now you probably admit that a sportsbook is different from an exchange. So why should you choose sports betting exchange over its counterpart?
- Exchanges don’t charge you a commission on losing trades
- You can bet for or against an event on an exchange
- In-play betting is fun and offers more potential on sports betting exchange
8 Points to Pay Attention to When Choosing a Betting Exchange?
We guess you want to opt for an exchange as soon as possible!
But not so fast. There are a few things you need to learn.
Read on and find out.
Before settling for an exchange, you need to gauge if it is worth it. Here are eight points that will set you on the right track; anyone that meets it all is the one for you:
Any sports betting exchange that shows tracing unreliability is not worthy in our books. But how do you gauge the reliability of a brand?
In the gambling industry, we use licenses. For a brand to be deemed legal and worthy of operation, it needs a valid license.
And the license must be from a very reputable organization like the Curacao Gaming Authority, UK Gambling Commission, or Malta Gaming Authority.
If an exchange has a valid license, another thing to check is what customers think about it.
Bettors never hide their feelings, and when they have bad experiences with a brand, they voice out online.
Take a little time to read customers’ feedback and comments; it is best to stick with the detailed ones rather than the one-sentence notes.
Liquidity in an exchange is not water but rather the amount of money available for you to make successful bets in an exchange.
Earlier, we stated that for a bet to be successful, there needs to be a bettor on the opposite end of it. And if there is no bettor, it means there is no liquidity, which means there is no money.
Not enough liquidity in an exchange means you cannot place bets. Occasionally, even top brands experience low liquidity when few events are happening, but if it is starting to be the norm, there is a problem.
Often, when liquidity is low, either your bet is unsuccessful or partially matched.
Range Of Markets
Range of markets means the variety of sports available for you in exchange. Whether you trade only one sport or not, you should always prioritize brands that offer varieties.
Sometimes, no event may be on in your favorite sport; you can decide to try out another option.
Exchange betting sites in India with more sports also tend to have better liquidity. It is understandable because more players would be on their site, which means better money circulation.
Although you may occasionally enjoy a 0% commission from your exchange, you cannot always escape the charges.
Commission rates are inevitable because it is one of the little ways they make profits. But the percentage should not be too much.
There is no special regulation for the percentages, but most brands charge between 3% to 5%. And some events charge as low as 2%.
However, commissions should be on only winning trades too. Some brands also attempt to charge significantly higher rates. When you spot such brands, it is best to stay away from them.
Bonuses promotions should not be from traditional bookies alone. Exchanges are also taking up the trend of offering welcome bonuses to new sign-ups, and we highly prioritize brands that do such.
Such offers can span from no deposit bonuses to deposit bonuses, free bets, and other ways.
We also check the terms and conditions to ensure the bonuses are genuine. Many brands are fond of giving bonuses, but they impose unachievable requirements that make them almost useless.
So always check information like validity period and wagering requirements to know that it is worth claiming.
It is also important that you consider the available payment methods on sports betting exchanges.
They must be safe, secure, and fast. Sometimes fewer but more secure options outweigh plenty of unpopular payment methods in an Indian betting exchange.
Apart from the well-known Indian options, you should aim for well-known universal options like credit/debit cards and bank transfers. That way, you can guarantee the safety of your funds.
How usable a platform is, refers to the direct look of the website. It must be fast, responsive, and simple. Some brands tend to overcomplicate things to make their website look advanced.
The color blend must also be eye-friendly; the website must also have good mobile optimization.
A brand with a mobile app is also an advantage. The app should also be just as good as the website in its features and functionalities. These little features, put together, make up a great website.
Customer support varies between phone numbers, emails, and live chat. From experience, the best is live chat because it is fast and responsive.
When scouting for an exchange, endeavor to search for a brand that will deliver you promptly in times of need. We highly prioritized brands that offer 24/7 availability.
Best Exchanges in India
Since India allows a lot of offshore exchanges, scanning for the best ones will be hectic.
We have our recommendations; read on and find out.
Here are the nine best exchanges with extra details of their services.
Fairplay is branded as India’s first exchange, and it was established in 2019. This platform is common with Indians because it is not an offshore exchange.
They also possess a Curacao gaming license which validates their online presence. Fairplay is also generous in offering bonuses and promotions to new and old bettors.
It also boasts of a functional mobile app that works just like the website. Let’s see the key features of this brand.
- Mobile Availability
- Bountiful Bonuses
- 24/7 Customer Support Availability
- Live Stream Availability
Fairplay is generous when it comes to bonuses, and it starts when you make your first deposit. They offer a 200% deposit bonus with a 20x wagering requirement, valid for 30 days.
Fairplay also offers a rewarding referral bonus that gives you up to 25% on all your friend’s deposits.
Besides the deposit and referral bonus, Fairplay also offers dynamic promotions and programs to their loyal customers.
- Fast and responsive website
- Functional mobile app
- Livestream events
- 24/7 live chat feature
- The requirements for their bonuses are quite demanding
Fairplay is a very decent Indian sports betting exchange with good services.
Since it is an Indian platform, they put their Indian customers before any other.
And although they have great bonuses, we believe they can do better with the terms and conditions that accompany them.
They seem too demanding, and players will have difficulty meeting them.
Sporttrade is an online betting exchange in the works, and its main aim is to get sports trading to the US.
However, Indians also have access to their platform and services.
The brand is not officially up for trading, but looking at their plans and project, it looks promising.
- Great Pricing
- Exclusive In-Play Trading
Since Sporttrade is yet to launch, they have provided no details about their bonuses or promotions. But they are speculating 2022, so we hope more information will come out soon.
- Lower prices with better odds
- Great betting options
- Sporttrade has not released any info on if they will offer bonuses
Although Sporttrade is not yet in full operation, the project looks promising. If they can truly kick off in 2022, Indians will have a great time trading on the platform.
Some will say you don’t know sports trading if you have never heard of Betfair Exchange. The reason for that is that Betfair is a leading pioneer for exchanges.
It is among the first brands that brought trading to the online space. Till today, Betfair is among the best exchanges for Indians, and their quality remains evergreen.
- Wide Range of Market
- High Liquidity
- High Winning Limits
Betfair does not offer any welcome bonus to Indians. They have a £10 referral bonus, but India is not one of the eligible countries to receive it.
- Great market variety
- No commissions on losing trades
- Mobile availability
- Easy to use website
- Betfair charges a 5% commission which is relatively high compared to other exchanges.
Betfair may be old in the business, but they are far from being out. The brand is still giving its best, and players appreciate it.
However, it would be great to see them lift some restrictions imposed on Indian players.
And the 5% commission rates could be better because brands offer as low as 2%.
BetInAsia is a sports broker and not a betting exchange. We included it in these recommendations because it is an all-in-one package.
BetInAsia allows you to sign up and access a couple of sportsbooks and exchanges. Among their products, we have Black and Orbit Exchange.
A broker allows you to access exchanges and enjoy what you won’t normally enjoy due to restrictions.
Betfair imposes restrictions on many players, and Indians are not an exception. So, BetInAsia offers you Orbit Exchange, a partner of Betfair, as they are from the same company.
So with BetInAsia, you can sign-up on Orbit and enjoy literally everything Betfair players enjoy.
- All-in-on bookie and exchange package
- Orbit Exchange Support
- Great Payment Options
BetInAsia is not exactly an exchange to be offering bonuses; however, they give players a 0.1% lifetime cashback to users of their BLACK platform.
- Zero Restrictions
- Good liquidity
- Easy Registration
- Secure Payment Options
- Transaction Fees on Credit Cards
BetInAsia is a brokerage that is doing a great job of allowing Indians to access exchanges like Orbit.
The brand is doing a great job, and if so far they continue at this pace, we see nothing wrong with them.
Bet-IBC is another broker like BetInAsia that allows Indians to access exchanges that impose restrictions on their country.
They cover several platforms, and if you feel like your exchange is restricting some features or offers from you, Bet-IBC is here to your rescue.
- Good Customer Service
- Several Exchanges and Bookie Support
Since Bet-IBC is a broker, they don’t offer any welcome bonus. You only get a bonus if the exchange you sign up on offers you.
- No Excessive Transaction Limits
- Responsive Website
- Fewer Deposit Options
Bet-IBC is a great broker for Indians, and the brand wins players with simplicity. It is a great portal to access exchanges that normally restrict Indian traders.
Betadda is a sportsbook, casino, and, most importantly, an exchange that highly prioritizes Indian players. It is one of the few exchanges that allow you to bet in rupees.
They offer great services and impose no restrictions on Indian players. The exchange merited this list because of their all-round services and availability.
- Great Odds and Pricing
- Wide Gaming Selections
- In-Play and Virtual Sports
Betadda offers a decent variety of bonuses to both new and old players.
As a sign-up bonus, Betadda offers you a value of up to INR4000 as long as your first bet is at least INR2000.
So whether you win or lose, they promise to credit you with a free bet. As long as you follow the instructions, you will receive the free bet within 96 hours of your first bet.
- Crypto Payment Support
- Fast and Responsive Website
- Rewarding Weekly Offers and Promotions
- Occasional restrictions with withdrawal limits
Betadda is doing a decent job with exchange services to Indian players. However, while they are doing great, we feel like they are not selling out the exchange part of their business enough.
If you didn’t deliberately research them, you might not know so much about their exchange.
LineBet is not well-known, but you only need to peek at their platform to know that it is great.
The brand offers some of the best services on its responsive website. In addition, they possess a valid Curacao Gaming License, which permits them to operate and, most importantly, for Indians to use their platform.
- Weekly Promotions
- Multi-Language Support
- Functional Desktop and Mobile Website
LineBet offers many bonuses for new and old customers, including weekly promos.
As a first-time player, you get a 100% deposit bonus for your first deposit. You are also eligible for weekly cashback offers.
Also, be sure to input the right details when signing up because LineBet has a special gift on your birthday.
- Wide payment options
- Generous offers and promotions
- Responsive customer support
- The LineBet website could use some improvements on the color blend and interface.
LineBet is a good platform with generous service and attractive deals. We feel that they can do better than expanding their market options as all the focus seems to be on football. Aside from that, LineBet is good for Indian players.
SatBet Exchange is a familiar platform among Indians, mostly for their casino games, but their exchange is excellent.
The brand has a Curacao gaming license which allows them to offer online services to Indians.
One thing that makes the platform great for Indians is that they support transactions in Indian Rupee.
- Live Chat Feature
- Functional Website
SatBet offers a bountiful welcome bonus where you can get up to INR10,000 on your first deposit. It is a 100% deposit bonus valid for ten days and with a 5x wagering requirement.
- Live chat feature
- Easy website interface
- Few payment options
SatBet is a good brand that is doing a great job of offering exchange services to Indians.
Everything about the brand screams simplicity. The website is easy to use, and it is a great option for starters.
Indibet Exchange is a familiar name, and they possess a Curacao gaming license to legalize their operations in the country.
The brand offers great services and gives special treatment to Cricket because they know how much Indians love the sport.
Overall, the whole platform is tailored for Indians with their sports and currency, making it one of the best choices.
- Exclusive Cricketbook
- Easy Registration process
- Simple Website Interface
Indibet does not have exclusive bonuses for the exchange alone, but they offer you free INR100 when you register on the Cricketbook.
- Easy-to-use website
- Weekly promotions
- Easy registration process
- Limited payment options
Indibet may not be the most popular, but they are playing their cards right. The exchange is easy to use and great for both new and old players.
Provided that they are consistent, they will move up the ranks in India pretty quickly.
What are the Best Betting Exchange Apps?
For the best betting exchange apps, we will pick Fairplay, Betfair, and Indibet. These brands have mobile applications that are exact replicas of their respective websites.
It comes loaded with features that desktop players also enjoy. And most importantly, they are fast and responsive.
So far, you have an active internet connection; you can install them and play from anywhere.
What are the Best Cricket Betting Exchanges?
If you are a loyal cricket bettor, you may want to opt for Indibet, Betadda, and Satbet. Our reason is that these exchanges are specially tailored for Indian customers.
And if there is one favorite sport among Indians, it is Cricket. So they pay special attention to the sport to ensure that customers are satisfied.
Infact. Indibet has a special section called Cricketbook, where you have a whole world of Cricket to yourself.
What are the Best Bitcoin Exchanges?
The best bitcoin exchanges in our books are Betadda, Fairplay, and Linebet. These brands allow exclusive bitcoin transactions, but they also support other popular cryptocurrencies.
Bitcoin is not only good because of the decentralized system but also for its speed. If the exchanges don’t delay processing, you could instantly receive your funds.
What are the Best Football Betting Exchanges?
The best football exchanges are LineBet, Indibet, and Fairplay. These exchanges offer football trading that stands out from the others.
You can bet on both the popular and local leagues on each of these platforms. And most importantly, you can almost guarantee that there would be liquidity to match your bets.
What are the Best Horse Racing Exchanges?
The best horse racing exchanges are Betfair and Indibet. These are the only exchanges on the list that offer premium horse racing trading.
Many brands don’t like to offer the sport because of legality issues; however, it is possible by pulling the right strings.
Betfair and Indibet are up to date with their racing schedule and offer in-play options.
What are the Best Tennis Betting Exchanges?
The best tennis betting exchanges are Fairplay, Indibet, and Betfair. Tennis is a very volatile market, and only the best exchanges can supply enough liquidity to players in it.
With these three exchanges, you can get on tennis and be sure that there will be someone on the opposite end of your bet.
We are drawing the review to a close, and if you paid attention, you will know more than enough to get your trading career started in India.
Read on and see our final thoughts as we round off.
Sports trading remains one rapidly rising industry, and we provided enough for you to get started. But before registering on any of these exchanges, be sure to educate yourself with the right strategies. That way, you won’t find yourself losing money unnecessarily.
Be sure to double-check our requirements and recommendations before you start trading. It is the only way to steer clear of scams and frauds in the industry. And following everything, you will pick for yourself, the best betting exchange in India.
Is there a Betting Exchange in India?
Yes, there are betting exchanges in India. However, the country’s laws are not so strict with exchanges, so as long as they have a license, their operation is legal.
How to Choose the Best Betting Exchange?
We outlined and explained eight important criteria when choosing an exchange. Go back and take a look to get your answers.
What is the Best Betting Exchange in India?
Pointing fingers at any specific brand will be difficult for us as they all have pros and cons. However, you can go through our recommendations and see which one suits you best.
What are the Main Betting Exchanges?
Our review outlines the main betting exchanges for Indian players. Skim through it, and you will find your answer.
What is a Betting Exchange ID?
A betting exchange ID is something your exchange gives you to identify you when you sign up on their platform. The ID could be numbers, letters, or alphanumeric.
Are Betting Exchanges Legal in India?
Yes, any betting exchange with a valid license and supports Indian currency is legal.