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

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.

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

(Source: Matchbook)

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.

2. Crickex

(Source: Crickex)

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.

3. Fun88

(Source: Fun88)

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.

4. Dafabet

(Source: Dafabet)

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.

(Source: Parimatch)

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.

6. Indibet

(Source: Indibet)

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.

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.

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:

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

Betting Exchange Sites: Advantages & Disadvantages

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.

(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.

Matchbook as a Betfair alternative in India

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

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.

2. Crickex

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.

3. Fun88

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.

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.

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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.

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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.

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Is Betfair available in India?

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

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What happened to the 1xBet betting exchange?

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

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Are there betting exchange apps?

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

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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).

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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.

Cricket Betting Advice

The Cricket Betting Advice team of writers are all defined by one goal: to provide you with the best online cricket betting content on the web.

Further Reading

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