The Top 6 Betting Exchange Sites And Apps In India (2023)

Betting exchange sites do away with the conventional sportsbooks, allowing punters to bet against each other instead of the bookmaker itself by setting your own odds and markets. This article will focus on the best cricket bookmakers with betting exchanges available to Indian punters, credible Betfair alternatives in India, and the best exchange betting apps.

Best Betting Exchange Sites in India

  • Beginner-friendly betting exchange site
  • Good market coverage
  • Low minimum deposit

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Fun88
MAIN FEATURES
Betting Exchange
In-Play Betting
Live Chat
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INR
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Mobile app
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  • Brand-new cricket betting exchange
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PariMatch
MAIN FEATURES
Live Streaming
Betting Exchange
In-Play Betting
Live Chat
Stats
INR
Hindi
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Mobile app
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Fast payout speed
  • Betting exchange focused on Indians
  • Laser-sharp focus on cricket betting
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Crickex
MAIN FEATURES
Live Streaming
Betting Exchange
In-Play Betting
Live Chat
Stats
INR
Hindi
24/7 Support
Mobile app
Fast payout speed
  • Good liquidity on betting exchange
  • Low minimum deposit
  • Accepts Paytm, G Pay, PhonePe, AstroPay

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Indibet
MAIN FEATURES
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Stats
INR
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  • Straightforward betting exchange layout
  • Good liquidity
  • Decent market coverage

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Dafabet
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Hindi
24/7 Support
Mobile app
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Fast payout speed
  • Beginner-friendly betting exchange
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Matchbook
MAIN FEATURES
Betting Exchange
In-Play Betting
Live Chat
Stats
24/7 Support
Mobile app
Fast payout speed

What Are Betting Exchange Sites?

First, let’s get the basics straight. What happens when you’re betting with a regular bookmaker?

Let's say you are betting on a traditional betting site. Here, whatever the market may be, you can only bet on one outcome. For example, you can bet on Ireland to win against England.

But can you bet on Ireland to not win against England? No.

That’s because conventional sportsbooks don’t have that option. Sure, you can wager on England to win against Ireland, but that will see a massive drop in odds, since England is the better team across formats (at the time of writing).

This is where cricket betting exchange sites come in. They allow you to lay a bet, which means you can bet on an outcome not to happen. Taking the above example, you can essentially bet on Ireland to lose to England.

Betting Exchange Sites Summary
  • With new exchange sites for cricket betting in India, one punter ‘backs’ a bet (the conventional wager where you bet on an outcome to happen), while the other ‘lays’ (where you bet against a result).
  • For this bet to be valid, punters must agree on the stake, betting markets, and odds.
  • Therefore, a betting exchange here serves as a sort of matchmaker, pitting you against the other, allowing two opposing bets.
  • Essentially, you’re not betting against the bookmaker, but you’re simply betting against other punters, like yourself.
  • Unlike a traditional betting site, betting exchanges don’t profit from you losing. Instead, they charge a nominal commission on your winnings, so the more you bet and win, the more profit they make.
  • This means you usually get much better odds with betting exchange sites, but we’ll get to that later.

This video will help you gain a better understanding of betting exchange sites and how they function.

Best Betting Exchange Sites In India: Reviewed

In this section, we have reviewed the top six betting exchanges in India along with their pros & cons, so that you can make an informed decision before choosing one. Let's get started.

1. Matchbook

Matchbook Betting Exchange

(Source: Matchbook)
  • Accepts Indian punters: Yes
  • Accepts INR: No
  • Licensed by: Alderney Gambling Control Commission

Matchbook is a top-notch Betfair alternative in India, suitable especially for casual bettors. It's market coverage is decent, but the feather on the cap is their betting exchange app, available on both iOS and Android devices.

All in all, we were pretty impressed and have no qualms in rating Matchbook as one of India’s most reputable and user-friendly betting exchange sites. Slight drawbacks include the commission, which is 4% – higher than what most exchanges charge in India. In addition, the site doesn't accept too many India-specific betting payment methods. However, everything else Matchbook has to offer more than makes up for these shortcomings.

MATCHBOOK EXCHANGE PROS
  • Wide variety of sports on the betting exchange
  • Offers good liquidity
  • Accepts India-spec payment options like UPI & WhatsApp deposit
  • Live chat, Telegram, and WhatsApp support available
  • Betting exchange available in multiple languages
MATCHBOOK EXCHANGE CONS
  • Dearth of sports betting promotions
  • Lacks an appealing, straightforward UI

2. Crickex

Crickex Betting Exchange

(Source: Crickex)
  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curaçao

Although Crickex is new to the world of online betting, we believe they hold serious potential to become one of the best betting exchanges in India. Yes, there are limitations, including their almost tunnel vision on cricket.

On the upside, however, this cricket betting exchange is designed primarily for Indians as well as punters trying to bet online from Bangladesh. Considering that the subcontinent doesn't have many betting exchanges available to punters in the region, this is a noteworthy accomplishment in itself.

CRICKEX EXCHANGE PROS
  • Comprehensive sportsbook with focus on football, cricket, and tennis
  • Interactive live betting platform
  • Cricket livestreaming available
  • Accepts India-spec deposit methods
  • Zero-charge withdrawals
  • Prompt customer support
CRICKEX EXCHANGE CONS
  • Focus is on cricket, so fans of other sports might feel left out
  • Quality of bonuses and promotions need to be better

3. Fun88

Fun88 Betting Exchange

(Source: Fun88)
  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Philippine Amusement and Gaming Corporation

Launching its sports betting exchange in India in 2021 was a real shot in the arm for this bookmaker, which already had its fair share of loyalists. The betting exchange has a robust back-end infrastructure, thanks to which the back and lay bet odds change quickly in real time.

While the exchange is enough to serve the regular betting exchange requirements, Fun88 has to work on its UI and features to retain experienced punters on the hunt for a fully loaded betting exchange site.

FUN88 EXCHANGE PROS
  • Decent range of sports betting options
  • Lucrative cricket betting promotions & offers
  • Straightforward UI of the betting exchange
  • Accepts G Pay, UPI, PhonePe, Netbanking
FUN88 EXCHANGE CONS
  • UI for the web browser could improve
  • High wagering requirements

4. Dafabet

Dafabet cricket market

(Source: Dafabet)
  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curaçao

As one of the leading cricket bookies in India, Dafabet has also done a pretty good job at making a betting exchange site that meets the needs of occasional and regular punters. The Dafa Sports exchange comes with several features that make for a rewarding experience while you place your back and lay bets. Importantly, it is available on both Android and iOS.

DAFABET EXCHANGE PROS
  • One of the new betting exchange sites
  • Straightforward layout
  • Livestreaming and stats section available
  • Good liquidity
  • Accepts multiple India-specific payment options
  • Prompt customer support
DAFABET EXCHANGE CONS
  • Strict welcome bonus T&Cs
  • Shortage of India-specific withdrawal methods

5. Parimatch

Parimatch exchange

(Source: Parimatch)
  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Kahnawake Gaming Commission

A recent entrant as a betting exchange site, Parimatch doesn’t wow, nor does it disappoint. The sportsbook in the exchange is limited to football, cricket and tennis right now, but we expect horse and greyhound racing to be introduced sooner than later. To make amends for the scope of the betting exchange, the operator is offering live streaming of select cricket matches under the ‘Live TV’ feature (on the top left of the screen), but we should tell you that it isn’t exactly uninterrupted coverage.

However, the fact that you get easy and quick banking options to transfer money into your exchange account certainly helps. All in all, we sure recommend the Parimatch betting exchange site, but only if the others don’t cut it for you.

PARIMATCH EXCHANGE PROS
  • ‘LIVE TV' feature for livestreaming
  • New-age betting exchange site
  • Decent liquidity
  • Prompt customer support
  • Easy payment options commonly used in India
  • Competitive odds on the exchange
PARIMATCH EXCHANGE CONS
  • Betting exchange limited in scope that might not suit advanced bettors
  • Betting exchange unavailable on the app
  • Live chat support needs improvement
  • Not a great variety of cricket betting exchange markets

6. Indibet

Indibet screenshot

(Source: Indibet)
  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curaçao

The Curaçao-based betting exchange has hit the bullseye in terms of the range of sporting events it covers on its betting exchange. Apart from cricket, football, basketball, and kabaddi, it also covers esports, giving an added advantage to punters.

While we are big fans of the variety and payment options that Indibet offers, we are not as thrilled with the website design, which currently looks extremely dull and unappealing.

INDIBET EXCHANGE PROS
  • Good collection of sports on the betting exchange
  • Good liquidity on offer
  • Accepts Paytm, PhonePe, G Pay, Skrill
  • Betting exchange available in multiple languages
  • Low minimum deposit
INDIBET EXCHANGE CONS
  • Shortage of sports betting promotions & offers
  • Lacks India-specific withdrawal options
  • High minimum withdrawal limit

Cricket Betting Exchange Sites vs Regular Bookmakers

Betting exchange sites differ from traditional betting sites on four fronts: betting outcome, flexibility, betting odds, and the commission charged. The infographic below should help you get clarity on the major points of difference between the two.

exchanges vs bookmakers

How to Use Betting Exchange Sites?

Now that we have listed and described the top betting exchange sites in India, we'll tell you how to use one. To that end, we have compiled these simple steps below:

  • Step 1: Signing up on the betting exchange is, of course, the first step. Register an account with the exchange site by submitting the necessary information.
  • Step 2: Fund your betting account by choosing any of the betting payment methods on offer.
  • Step 3: Use the welcome bonus. The betting exchange sites we recommend offer some of the most high-value welcome bonuses and free bets. The best welcome bonuses are usually available when you sign up with the bookmaker and make your first deposit.

Betting Exchange Sites: Payment Options

While the exact range of options will vary across such exchange sites in India, here are a few top payment methods provided by most of them:

Payment options for deposit

Payment options for withdrawals

Withdrawals are usually processed using the same betting payment method as deposits. However, if you cannot see the deposit method as an option for withdrawal, go ahead and use Netbanking. Even though the slowest in terms of processing time, it is available across all betting exchange sites in India, making it the most dependable payment method overall. And if you are looking for faster payouts, read our blog on some of India's instant withdrawal betting sites.

Types of Bets at Betting Exchange Sites

  • Win

This is the most straightforward bet type, one that’s offered by all sports betting sites. Suppose you are betting on any of the top cricket tournaments in the world. Here, a ‘win’ bet is simply when you back a particular team to win the match. In essence, you are putting your money on a specific outcome, and hoping the match/event 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 regular bookmaker from a betting exchange. While the former will only allow you to place a ‘win' wager, with the latter, ‘lay’ bets are also an option. These allow you bet on 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 should use a lay bet calculator before placing one of these with a betting exchange.

Betting Exchange Sites: Advantages & Disadvantages

  • Higher odds compared to conventional betting sites
  • Chance to earn a bigger profit
  • Usually more flexibility as you can lay a bet
  • Free market principle because there’s no bookmaker setting the odds for you
  • Matching bets could be a problem in less common markets
  • Bonuses may not be as great as regular betting sites
Tips On Using a Betting Exchange Site
  • 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. It's a good idea to use a lay bet calculator before placing one so that you know you won’t lose more than you’d gain.
  • Compare different betting exchanges, the rate of commission they charge, and if they have any bonuses on offer. The lower the commission, the higher your profit will be. Also, a few betting exchanges even have skilled tipsters for extra insights.
  • Check if the betting exchange in question offers live betting. The best in-play betting sites provide handsome odds across a slew of markets, creating an exciting and dynamic wagering experience.

Betfair Alternatives in India

Before we explore some Betfair alternatives in India, let’s understand the issue here that’s nudging us to look for substitutes in the first place. Betfair is undoubtedly the world’s most popular and biggest betting exchange, but there are two issues worth remembering. 

Firstly, Betfair charges a hefty commission (ranging anywhere between 5-7% of your winnings), which can lead to profit erosion in the long term. And secondly, and more importantly, Betfair doesn’t operate in India, and if you try to access it, you’ll get this message.

Betfair restriction message

(Source: Betfair)

Can I access Betfair using VPN?

Some forums will suggest you use a VPN to sign up with Betfair. However, this will only go so far. Sure, you’ll be able to gain access and register, but you'll also be required to verify your betting account with a valid ID document, address of residence, and possibly proof of payment as well.

You could be asked to provide copies of these documents immediately after registration or when you proceed to withdraw funds. If you fail verification, your account will be frozen and your winnings confiscated.

What are some Betfair alternatives in India?

Alternatives to Betfair would be all the betting exchange sites that accept Indian bettors: Fun88, Crickex, Indibet, Parimatch, Dafabet, and Matchbook.

  • If you’re particularly looking for a cricket betting exchange site, Crickex should be right up your street. Moreover, the minimum deposit is a nominal INR 200.
  • Likewise, Fun88 is a great option for beginners, and you get to play on the move with the Fun88 betting exchange app that's available for both Android and iOS.
  • The Dafabet and Parimatch betting exchange sites are two other options at your disposal if you're looking for a Betfair alternative. The Parimatch betting exchange, though not for the advanced punter, offers decent liquidity and accepts some of the most commonly used payment methods in India.

That said, we’d like to focus exclusively on Matchbook for this section, as they offer innovative betting products. And with their sports market coverage and competitive odds that are as good as any, they’ve never let Indians rue the absence of a giant betting exchange like Betfair.

Matchbook as a Betfair alternative in India

A screenshot of Matchbook's website

In India, Matchbook charges a 4% commission on your net winnings, compared to the 2% rate in the UK and Ireland. So yes, punters in the country are at a slight disadvantage here. That said, Matchbook one-ups other betting exchange sites in departments like live chat, mobile betting apps for Android and iOS, and valuable promos, such as 0% commission for 30 days.

Add to that their market coverage, and Matchbook is a highly credible Betfair alternative in India.

Betting Exchange Apps in India: Reviewed

In this section, we discuss the leading betting exchange apps in India. Some of the best cricket betting apps provide betting exchange services, and here are our top 3 picks:

1. Matchbook

  • Betting exchange apps for Android and iOS
  • Live chat support

The Matchbook betting exchange app is a little peculiar, in the sense that it has some solid selling points but a few glaring shortcomings. For example, on the one hand, it has a beginner-friendly layout, good market coverage, live chat support, and high-value promotions, such as 0% commission across all sports for 30 days. Going by these, you’d feel Matchbook is a top draw. And it is, really.

But then there are these two downsides to the cricket exchange betting app: a dearth of India-specific banking methods and a relatively hefty 4% commission charged on winnings (the standard is typically 2%). INR is also not accepted as a viable currency.

MATCHBOOK BETTING EXCHANGE APP PROS
  • Beginner-friendly layout
  • Good market coverage
  • Live chat support
  • 0% commission on all sports
MATCHBOOK BETTING EXCHANGE APP CONS
  • Dearth of India-specific banking options
  • 4% commission charged on winnings (the standard is 2%)
  • Doesn't accept INR

2. Crickex

  • Betting exchange app available on Android
  • Accepts UPI + Low minimum deposit of ₹200

Featuring a diverse mix of pre-match and in-play markets, the Crickex betting exchange app stands out for offering India-specific sports like kabaddi, something that you will not come across often. Moreover, you're offered 24/7 customer assistance and live streaming of select matches.

That said, Crickex isn’t the most versatile when it comes to the range of sports available, as currently, it only features cricket, football, tennis, and kabaddi betting markets. We’d definitely like to see them expand their coverage. Also, unfortunately for iOS users, the Crickex betting exchange site is limited to Android devices only.

CRICKEX BETTING EXCHANGE APP PROS
  • Cricket, kabaddi part of betting exchange
  • Mix of good pre-match & in-play bets
  • Livestreaming of select matches
CRICKEX BETTING EXCHANGE APP CONS
  • Quality of bonuses & promos need improvement
  • Not so much focused on sports except cricket & kabaddi
  • Market coverage not great
  • Betting exchange app limited to Android devices

3. Fun88

  • Betting exchange app available on Android & iOS
  • Accepts Netbanking, UPI, G Pay, Visa/Mastercard

The Fun88 betting exchange app has an easy-to-use and straightforward design, so that’s a plus. It’s a decent betting exchange, really. Sure, this isn’t the most versatile when it comes to betting options; it features markets for cricket, football, tennis, and occasionally horse racing.

However, if you’re particularly seeking a cricket exchange betting app, Fun88 does fit the bill.

FUN88 BETTING EXCHANGE APP PROS
  • Focused on cricket betting
  • Lucrative cricket betting promotions & offers
  • Straightforward UI of the betting exchange
  • Accepts G Pay, UPI, PhonePe, Netbanking
FUN88 BETTING EXCHANGE APP CONS
  • High wagering requirements
  • Focus on other sports lacking

Betting Exchange Sites FAQs

What are some of the best betting exchange sites in India?

The three best options punters in the country have are Crickex, Fun88, and Matchbook.

Can betting exchange sites legitimately operate in India?

Absolutely. New cricket betting exchanges that accept Indians and are based out of the country (always check for licences and credentials on display from reputable gambling jurisdictions) are perfectly legal.

Can I bet on all sports with these betting exchanges?

Almost, but not all. It goes without saying that in India, cricket betting exchange sites are the most popular. That said, you can also wager on other sports, including football.

Is Betfair available in India?

Unfortunately, no. However, there are some Betfair alternatives in India, which we have discussed in this article.

What happened to the 1xBet betting exchange?

Although 1xBet used to have a betting exchange site, it has since been discontinued.

Are there betting exchange apps?

Yes. Fun88, Crickex and Matchbook have dedicated betting exchange apps for Android and iOS devices.

Lastly, why should I use a betting exchange over a conventional sportsbook?

Frankly, both have their pros and cons. But the one area where betting exchange sites one-up conventional sportsbooks is that you get longer odds with the former, and consequently, higher potential profits. In addition, betting exchanges operate on the free market principle, as no bookmaker sets the odds for you. Punters arrive at odds mutually, where one party ‘backs’ (bets on the outcome) and the other ‘lays’ (bets against the outcome).

CricketBettingAdvice Final Say

We hope you found this guide helpful. To derive more value from betting exchange sites in India, remember the points below:

  • Don’t expect as lucrative bonuses and promos as conventional betting sites offer.
  • You'll get much better odds than what you’d get from a traditional sportsbook.
  • Check the commission percentage charged by betting exchange sites before selecting one.
  • Before you lay a bet, check how much you could stand to lose from it using a lay bet calculator.
  • Bet on the more straightforward markets with a betting exchange – set aside the other relatively difficult ones for when you play with a traditional betting site.

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