The 4 Best Betting Exchange Sites in India (2021)

A betting exchange is different from a traditional bookmaker in one major way: the former pits fellow punters against each other. While there are many betting exchanges worldwide, most of them don’t accept Indian punters, thanks to country-related restrictions. Fear not, though; in this article we’ll cover the best betting exchanges available to Indian players.

Best Betting Exchanges in India

  • Wide range of sports, betting markets, and payment options, including Paytm and PhonePe
  • Pay commission only when you win
  • Low commission charged on winnings
  • Excellent cricket betting exchange
  • Focus on Indian and Bangladeshi markets
  • Low minimum deposit of ₹200, birthday bonuses, and weekly lucky draws
  • One of the best betting exchanges with handsome odds
  • Prompt customer service support
  • Quick and secure deposits, hassle-free withdrawals
  • Powered by renowned betting exchange Betfair
  • Excellent option for beginners and cricket bettors
  • Convenient deposit methods like Google Pay, PhonePe, UPI, and Net Banking

Top 4 Cricket Betting Exchanges in India

1. 1xBet: 1% commission (only when you win)
2. Crickex: Low minimum deposit of just ₹200
3. Betdaily: Excellent for IPL betting
4. Fun88: Convenient deposit & withdrawal methods

What Is a Betting Exchange?

Before getting into any details, it's important to understand the basics first.

Let's say you are placing a bet on a sportsbook belonging to one of the best cricket betting sites. Here, you can back just one outcome in the market – for instance, India to win a match against England. This means you are putting your money on India and hoping the outcome is positive.

However, there’s another possibility to this, and that is for an outcome to not pan out. This is called a lay bet. However, with traditional bookies, you don’t get the choice to back a result to not happen. Suppose you want to try IPL betting and place a bet on the outright winner. Here, you have to back one outfit to win the IPL. But can you put your money on a team to not win the IPL? The answer would be no, you can't.

This is where betting exchanges in India come in, allowing you to back both outcomes – for it to happen as well as not to happen.

Traditional bookies want you to lose your bet, because your loss counts towards their profit margin. But a betting exchange doesn’t operate along that principle. These earn a commission on your stake; so, the more you win and play, the more they profit.

BOTTOM LINE

When you use a betting exchange to place a bet, you are essentially betting against other punters (not the bookie). This means your betting odds will likely be much more than those of a regular bookmaker. Think of the platform as a stock exchange, where your stake is placed either on a positive or negative outcome against other those of gamblers.

How do Betting Exchanges in India Work?

Betting exchanges by far offer the best odds, considering you are not betting against the bookie, but other punters instead. You can also wager on an outcome not happening. So, if you have reason to believe the favourite won’t win, you can lay them.

Let us consider an example with French Open betting.

Suppose you back Novak Djokovic at odds of 4.00 at bet365. If your stake is Rs 50, and you go on to win the bet, you earn a profit of Rs 200 and total winnings of Rs 250 (Rs 50×4.00 + your stake worth Rs 50).

But, if you don’t fancy Djoker winning La Coupe des Mousquetaires, you don’t need to bet on any other player. Instead, you can simply lay Novak. Here, you become the bookie and accept a bet from another punter at odds of 4.00 and for a stake worth Rs 50 (remember, there needs to be consensus on the stake and odds in question).

In this case, if the other punter doesn’t win, you get the Rs 50 staked by him/her. However, if you lose, you end up shelling out Rs 250 (liability of Rs 50×4.00 + the stake worth Rs 50). Therefore, if you lay the bet, you stand to gain Rs 50 but lose Rs 250.

Therefore, we recommend using a lay bet calculator to check if you could gain or lose from this kind of bet.

Betting Exchange Reviews

1xBet

1xbet cricket market

Accepts Indian PuntersYes
Accepts Indian RupeesYes
App AvailableYes (on Android and iOS)
Licensed byCuraçao eGaming License
✅ Cash Out✅ Excellent sports betting and casino sections
✅ Tons of promos and offers✅ Straightforward sign-up process
✅ Multiple secure payment options like Google Pay, PhonePe, Paytm, Visa, and Mastercard ✅ Live Streaming
✅ Live Betting-
❌ Relatively slow withdrawals❌ Extremely feature-heavy site that might be overwhelming for beginners
Commission charged1% (as on the day of writing)

Our Verdict

It isn’t typical for a betting site to offer a betting exchange along with a sportsbook. In fact, bookies are often against such practices, considering punters benefit from higher odds on a betting exchange than what they get with bookmakers. But thankfully, 1xBet isn’t limited by such reservations.

That said, remember that you may not get all the sports on the 1xBet betting exchange compared to the sportsbook itself.

Crickex

Crickex homepage

Accepts Indian PuntersYes
Accepts Indian RupeesYes
Licensed byCuraçao
✅ Comprehensive sportsbook with focus on football, cricket, and tennis ✅ Interactive live betting platform
✅ Live cricket streaming✅ Good live casino games, including Baccarat, Super Sic Bo Live, Deal or No Deal Live
✅ Multiple deposit options preferred by Indians ✅ Zero-charge withdrawals, 24x7 Live chat support
✅ Tailored offers and bonuses in keeping with wagering requirements and preferences-
❌ Focus is on cricket, so other sports buffs might feel left out❌ Casino bonuses could be better
Commission chargedExact figure not known

Our Verdict

Crickex is new to the world of online gambling, something which they don't attempt to shy away from. That said, we believe they hold serious potential to become one of the best of their kind. Yes, there are limitations, including its almost tunnel vision on cricket. On the upside, however, this cricket betting exchange is designed primarily for Indian and Bangladeshi punters. This is already a feather in their cap, considering that the subcontinent doesn't have many betting exchanges available to punters in the region.

Betdaily

Betdaily in-play market

Accepts Indian PuntersYes
Accepts Indian RupeesYes
Licensed byCuraçao
✅ Visa, UPI, BHIM, Google Pay, Net Banking available ✅ Commendable customer service
✅ A 130% welcome bonus on sportsbook, live casino, and slot games✅ Excellent for IPL betting
❌ Not the best odds on sports betting -
Commission chargedExact figure not known

Our Verdict

Powered by Betfair, Betdaily offers not only a credible sportsbook, but also an excellent betting exchange that caters to Indian players. On the official site, head to the ‘Sports’ tab and choose ‘Exchange’. The page is like that of any other sportsbook where various betting events pop up (usually related to cricket, football, and tennis).

Since there is only a handful of betting exchanges in India, this initiative by Betdaily should undoubtedly put them ahead of the curve.

Fun88

Fun88 inplay market

Accepts Indian PuntersYes
Accepts Indian RupeesYes
App availableYes (on Android and iOS)
Licensed byPhilippine Amusement and Gaming Corporation
✅ Various sports betting options ✅ Unique promos and bonuses
✅ Excellent online betting exchange✅ Convenient deposit and withdrawal methods, including Google Pay, UPI, Net Banking, PhonePe
❌ UI for the web browser could improve❌ A little variety in casino games would be welcome
❌ Nothing much to write home about in virtual sports betting❌ Stringent welcome bonus requirements
Commission chargedExact figure not known

Our Verdict

They may not be the world’s best, but the Fun88 betting exchange is fun to use every once in a while, particularly if you are new to the online gambling space. However, if you are a more experienced punter, you might find this exchange lacking in certain features and betting options.

Types of Bets at a Betting Exchange

  • Win

This is the most straightforward bet type, and one that’s offered by all sports betting sites. Suppose you are betting on The Ashes, one of the top cricket tournaments in the world. Here, a ‘win’ bet is simply when you back Australia to win the trophy (or England, depending on your pick).

In essence, you are putting your money on a specific selection and hoping it will pan out that way. Also, there’s that possibility of landing higher odds with this kind of a bet.

  • Lay

It is this bet type that primarily differentiates a bookie from a betting exchange. Remember that the former will always only allow you to place win bets. But with the latter, ‘lay’ bets are an option as well, where you back a particular outcome of a match to not happen. When you do this, you essentially take on the bookmaker’s role.

A ‘lay’ bet is typically riskier, as it requires you to wager against the interests of fellow punters. Therefore, there’s a lot to lose if you don’t get it right (that is, if the outcome, which you are betting against, happens). That’s precisely why you must use a ‘lay’ bet calculator before placing one of these with a betting exchange.

Betting Exchanges vs Bookmakers

  • Betting Outcome

Betting exchanges in India (and around the world) allow you to play against other bettors. The first bet you place is the traditional win bet, where you back a specific outcome of a match. The other punter now places what is known as the lay bet, which means he bets against your selection. Now, for this bet to be valid, both you and the other bettor must agree on the stake and odds.

Therefore, a betting exchange here serves as the matchmaker, pitting you against the other, allowing two opposing bets.

This is a distinct feature of a betting exchange, and one that’s not offered by traditional sportsbooks.

  • Flexibility

With a betting exchange, there’s a lot of flexibility in betting on an outcome of your choosing. However, with accumulators, a betting exchange can be limiting. That’s because acca outcomes can be challenging to predict, more so because there are no fixed odds, unlike with a regular bookie.

Moreover, chances are the odds wouldn’t be all that great, so you might just end up making less money by betting on accumulators with a betting exchange.

  • Improved Odds

This is probably the most crucial reason why many seasoned punters prefer betting exchanges over traditional betting sites. Understand that a betting exchange serves as a free market for punters (where you place a bet against a fellow bettor only if there’s mutual agreement on the odds and stakes).

On the other hand, bookmakers set their odds after accounting for their commission, and there’s no way a punter can dictate them.

  • Commission

Betting exchanges in India and around the world charge a nominal commission for every bet that’s placed, which is calculated as a percentage of the total estimated winnings. That is their way of making money. On the other hand, bookies set odds after factoring in their vigorish, which is essentially the ‘cut’ or ‘margin’.

Betting Exchanges Pros and Cons

Advantages

  • You can lay a bet

One of the best parts of a betting exchange is that you get to lay the bet if you don’t think the predicted outcome will unfold in the event/match. Some sports like horse racing are ideal for placing ‘lay’ bets, simply because you might not fancy the odds of a selection winning the race. Even the best horse racing betting sites in India may not allow you to lay your bet, but a betting exchange will.

  • You get higher odds

Betting exchanges in India (and worldwide) operate on the free market principle, where you place your wagers against other punters, not the bookmaker. Moreover, a betting exchange charges a commission as a percentage of the total estimated winnings. Therefore, the more the odds, the more they earn.

So, it is easy to understand why you get longer odds at a betting exchange.

Disadvantages

  • Matching your bets could be a problem

While it is uncommon, sometimes, just sometimes, you might find it challenging to match a bet with other bettors. This can happen in the betting markets, which aren’t as popular and don’t interest a lot of bettors. In such a scenario, the free market theory ceases to function as efficiently as it would in more popular markets.

  • You may not be offered many bonuses

This is a problem, and there doesn’t seem to be any way around it (at least, for now). While a few cricket betting exchanges in India might have bonuses on offer, they surely won’t be as handsome as the ones offered by the best cricket betting apps.

Just don’t expect a truckload of promos and offers, and you’ll not be disappointed.

Betting Exchange Tips and Strategies

It is imperative that you have a strategy in place, even if you're using the best betting exchange in India. Stated below are a few tips worth keeping in mind:

  • When it comes to matched betting, ensure you compare the value of your lay bet with that of the back bet with the bookie. Any discrepancy can result in a loss.
  • Remember, you don’t get fixed odds when using betting exchanges. Therefore, take your time and ensure you get the most value from the odds.
  • ‘Lay’ bets can be tricky. Always use a lay bet calculator before placing one so that you know you won’t lose more than you’d gain.
  • Probe into the different exchanges, the rate of commission they charge, and if they have any bonus on offer. The lower the commission, the more the profit you can earn. Also, a few betting exchanges have skilled tipsters for that extra convenience.
  • Check if the betting exchange provides in-play and live betting. The reason why the latter are popular is that you get to wager on the latest and updated odds, which keep changing depending on what is happening in the particular event. The fact that live betting odds are dictated by real-time action makes them a legit indicator of what’s unfolding in the market.

With the best in-play betting sites, you can hedge your stake, or cash out profits early to close a bet if you think things aren’t going in your favour.

Payment Methods at Betting Exchanges in India

International cricket betting exchanges in India accept almost all the most popular and mainstream betting payment methods. These include bank transfers, Visa and Mastercard, digital wallet platforms like Google Pay, and cryptocurrencies.

Betting Exchange FAQs

What are the best betting exchanges in India?

As listed at the beginning of this article, the four best options Indian punters have are BetdailyCrickex, Fun88 and 1xBet.

Which sports can I bet on?

There’s a variety of sports you can bet on. Cricket has to be the most popular, hands down. However, football betting, kabaddi betting, and tennis betting have their loyalists too. Field hockey betting has been increasingly gaining traction as well.

Can I access these betting exchanges through my mobile phone?

Absolutely, you can. Fun88, Betdaily, and 1xBet have dedicated mobile apps, whereas Crickex has a mobile-optimised site which you can easily open and use on your mobile browser.

Do I have to pay taxes on my winnings?

Yes, you do. In India, winnings from gambling are treated as ‘income from other sources’ and are accordingly taxed at a flat 30% + 4% cess. There is no minimum limit of exemption here, unlike other assesses.

What are my chances of winning real money at betting exchanges in India?

The ones mentioned in this article are real-money exchanges, where you play for real cash. We think you have a better shot at winning sizeable returns at these exchanges compared to traditional online bookies. That’s simply because you can get better odds here.

Does the Betfair betting exchange accept Indian punters?

Betfair was a popular betting site here till 2018. But since then, they have discontinued their India operations. As on the day of writing, neither the bookie nor the Betfair betting exchange accept Indian residents. That said, there are multiple alternatives to Betfair when it comes to sports betting in India.

CricketBettingAdvice Final Say

If you've got a fair bit of experience behind you as a punter, you can derive significant value from betting exchanges in India. That said, remember these important points below:

  • Don’t expect lucrative bonuses and promos like the ones offered by regular bookies.
  • You can, however, expect much better odds from a betting exchange than what you’d get from a bookmaker.
  • Check the rates of commission charged by your preferred exchange site.
  • Before you lay a bet, check how much you could stand to lose from it using a ‘lay’ bet calculator.
  • Go for the more popular markets, and set aside the niche ones for when you bet with a regular bookie.

And finally, always bet responsibly. When on a winning streak, it is vital that you don’t get carried away and to avoid chasing your losses. It's always important to know when to stop so the fun doesn't stop!

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