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

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

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.

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

Reliability

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

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.

Commissions

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.

Welcome Bonuses

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.

Payment Methods

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.

Usability

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.

Support

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.

Fairplay Exchange

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.

Sporttrade Exchange

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. 

Betfair Exchange

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.

BetInAsia

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.

BET-IBC

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. 

Betadda Exchange

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.

LineBet 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. 

SatBet Exchange

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.

Indibet Exchange

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.

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.

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.