Best Betting Exchange in India (2024)

Many of India’s best betting sites do not offer a betting exchange function for punters; however, to make things easier for you, we've done the heavy lifting ourselves and listed all the ones available in the country below! Read on to find out more.

What Are Betting Exchanges?

A sports exchange betting app or site is an online platform that facilitates peer-to-peer betting, allowing users to both “back” (bet on an outcome to happen) and “lay” (bet against an outcome) across various markets.

Unlike traditional bookmakers, sports betting exchange sites enable you to set your own odds, creating a competitive marketplace. As a punter, you can match your bets with other users on the platform, with the platform earning revenue by charging a commission on your net winnings.

Here are some basics of how betting exchanges work:

  • Peer-to-peer betting: Betting exchanges operate on a peer-to-peer model. Instead of placing bets against the bookmaker, users bet against each other. You may act as a “backer” by betting on a particular outcome, while another user plays the role of a “layer” by accepting that bet.
  • Laying and backing: Across any of the top betting exchange sites in India, you can either “back” an event, which means you bet in favour of a specific outcome (e.g., a team winning), or “lay” an event, which means you bet against that outcome (e.g., a team losing).
  • Odds setting: On a betting exchange, you have the freedom to set your own odds when laying bets. This allows for competitive odds and often results in better value for players.
  • Commission: Betting exchanges usually charge a commission on your net winnings, which is how they generate revenue.

Check out the video below for further clarity:

Best Exchange Betting Sites in India

  • Minimum deposit of 118 BDT
  • Accepts bKash, Nagad, Bank Transfer, Visa, Mastercard
  • Dedicated analytics section

150% First Deposit Bonus up to ₹20,000

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Parimatch
MAIN FEATURES
In-Play Betting
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  • Responsive app for betting exchange
  • Multiple betting exchange live events
  • Win ₹20,000 Sports weekly deposit bonus

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Fun88
MAIN FEATURES
Betting Exchange
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Stats
INR
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Mobile app
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  • Multiple in-play cricket betting exchange markets
  • Customer-centric, responsive betting exchange UI
  • Claim generous ₹1,200 referral bonus

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Claim bonus Read Crickex Review
Crickex
MAIN FEATURES
Live Streaming
Betting Exchange
In-Play Betting
Live Chat
Stats
INR
Hindi
24/7 Support
Mobile app
Fast payout speed
  • Live cricket betting with a betting exchange
  • High liquidity on betting exchange
  • Low minimum deposit amount of only ₹100

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Indibet
MAIN FEATURES
Live Streaming
Betting Exchange
In-Play Betting
Live Chat
Stats
INR
24/7 Support
Mobile app
Bitcoin
Average payout speed
  • Straightforward betting exchange layout
  • Multiple betting exchange options
  • Low minimum withdrawal limit of ₹300

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Dafabet
MAIN FEATURES
Live Streaming
Betting Exchange
In-Play Betting
Stats
INR
Hindi
24/7 Support
Mobile app
Bitcoin
Fast payout speed
  • Beginner-friendly betting exchange
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Up to £20 money back if your first bet loses

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Matchbook
MAIN FEATURES
Betting Exchange
In-Play Betting
Live Chat
Stats
INR
Hindi
24/7 Support
Mobile app
Fast payout speed

How Do Sports Betting Exchange Sites Work?

Say you're interested in placing a bet during a cricket match between India and Australia. On betting exchange sites, like the ones similar to Betfair, you have two options:

  • Backing: You can choose to “back” India to win the match. By doing so, you're betting on India's victory. Let's say you place a back bet of ₹50 on India to win at odds of 2.0. If India wins, you'll make a profit of ₹50.
  • Laying: On the other side of the exchange, there's another user who believes that India won't win. They decide to “lay” India, which means they are betting against India's victory. This user might offer odds of 2.0 for “laying” India. Now, you have the opportunity to accept this bet.

Possible Outcomes

  • If India wins, you receive ₹50 from the user who placed a lay bet on India (since they bet against India's win).
  • If Australia wins, you'll pay the user who placed a lay bet on India ₹50 (because you bet on India to win).

This creates a direct peer-to-peer betting experience, where you are essentially betting against someone else's prediction. It's a dynamic and competitive way to engage in sports betting, as the odds can vary depending on what other users are offering.

Top Cricket Exchange Betting Sites: Reviewed

In this section, we have reviewed the top cricket betting exchange sites in India so that you can select the one that fits your needs the best. Let's begin:

1. Fun88

Fun88 Website

(Source: Fun88)

  • Accepts INR: Yes
  • Betting app: Yes (Android, iOS)
  • Welcome bonus: 250% up to ₹5,000
  • Minimum deposit: ₹1,000

Fun88 boasts a responsive website tailored for betting exchange users and hosts multiple live betting exchange events. If you're a new user, you can benefit from a 250% first deposit bonus of up to ₹5,000.

Fun88 Pros
  • Diverse sports betting options
  • Attractive promotions and bonuses
  • Mobile-friendly platform
  • Telephone customer support
  • Accepts UPI
Fun88 Cons
  • No livestreaming
  • Live chat response is slow

Fun88 Features

  • Sportsbook with a variety of markets
  • Live in-play betting
  • Mobile app for both Android and iOS users
  • Telephone customer support
  • Encryption to protect user data

2. Crickex

Crickex homepage screenshot

(Source: Crickex)

  • Accepts INR: Yes
  • Betting app: Yes (Android, iOS)
  • Welcome bonus: NA (₹1,200 referral bonus)
  • Minimum deposit: ₹200

As one of the best sites for cricket analysis, Crickex stands out with its multiple in-play cricket betting exchange markets and a customer-centric, responsive betting exchange UI. Users can also take advantage of the availability of numerous convenient payment methods like UPI and claim a referral bonus of ₹1,200 for bringing in new customers.

Importantly, Crickex is among the new betting exchange sites in the country, so you can give it a shot should you wish to experiment a little outside of the tried-and-tested ones.

Crickex Pros
  • Great betting odds
  • Dedicated stats and results section
  • Convenient payment options
  • Cash-out option available
  • HD livestreaming
  • In-play betting
Crickex Cons
  • Mobile browser UI needs improvement
  • No welcome bonus for new players

Crickex Features

  • Robust live event statistics and results section
  • Option to cash out bets
  • A variety of cricket betting exchange markets
  • Support for UPI payments
  • Free livestreaming of select events

3. Dafabet

A screenshot of Dafabet homepage

(Source: Dafabet)

  • Accepts INR: Yes
  • Betting app: Yes (Android, iOS)
  • Welcome bonus: 200% up to ₹20,000
  • Minimum deposit: ₹500

Dafabet provides a straightforward betting exchange layout and offers a broad range of betting exchange markets. If you're a new user, you can kickstart your journey with a 200% welcome bonus of up to ₹20,000.

Dafabet Pros
  • Live chat support limited to bot
  • Separate sports betting and casino apps
Dafabet Cons
  • Live chat support limited to bot
  • Separate sports betting and casino apps

Dafabet Features

  • Handicap betting available
  • Virtual sports and e-sports betting
  • Secure SSL encryption for data protection
  • Mobile-optimised platform for betting on smartphones and tablets
  • HD livestreaming

4. Indibet

Cricket odds on Indibet

(Source: Indibet)

  • Accepts INR: Yes
  • Betting app: Yes (Android)
  • Welcome bonus: 400% up to ₹25,000
  • Minimum deposit: ₹100

The Indibet exchange focuses on live cricket betting and promises high liquidity. New users can enjoy a substantial 400% welcome bonus of up to ₹25,000. The best part about this exchange betting site is that it accepts a very low minimum deposit of only ₹100, so you can start playing without putting big money on the line.

Indibet Pros
  • Free HD livestreaming
  • Dedicated stats and results section
  • Wide range of betting markets
  • Hindi version of the website available
  • Regularly updated promotions and bonuses
Indibet Cons
  • Live chat support response time could be faster
  • UI on mobile browser needs improvement

Indibet Features

  • Hundreds of live events daily
  • Expert betting tips on the website
  • Quick withdrawals
  • HD livestreaming and in-play betting

5. Matchbook

Matchbook cricket market

(Source: Matchbook)

  • Accepts INR: Yes
  • Betting app: Yes (Android, iOS)
  • Welcome bonus:
  • Minimum deposit: ₹500

Matchbook is a top-notch Betfair alternative in India, suitable especially for casual bettors. Its 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 Cricket Exchange Pros
  • Diverse sports selection within the betting exchange
  • Provides robust liquidity for effective betting
  • Accepts India-specific payment methods, including UPI and WhatsApp deposits
  • Offers multiple customer support options, including live chat, Telegram, and WhatsApp
  • Accessible in various languages to accommodate a global audience
Matchbook Cricket Exchange Cons
  • Limited availability of sports betting promotions
  • User interface lacks simplicity and appeal

Matchbook Features

  • User-friendly betting exchange app for iOS and Android
  • Good market coverage
  • Decent liquidity
  • WhatsApp and Telegram customer support
  • Multilingual website and support

Cricket Betting Exchange Sites in India 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.

Betting exchange vs bookmakers infographic

Exchange Betting Sites: Features to Watch Out For!

Before selecting a cricket exchange betting app or site, it's essential to consider several key features to ensure a rewarding and enjoyable wagering experience. Here are some features we took into consideration before recommending the best betting exchange in India:

  • Welcome offer: The best betting exchange in India should provide new users with an enticing welcome bonus. Additionally, look for free bets and cashback rewards. Such offers enhance your initial bankroll and provide extra value when you start betting.
  • Variety in markets: Look for a betting exchange app or site that offers a broad range of betting markets. Besides standard match-winner bets, you should have access to options like top run-scorer, player performance, and various other in-play markets. The more diverse the markets, the more strategies you can explore.
  • Competitive odds: One of the biggest advantages of placing exchange bets is that you get to unlock competitive odds. Ensure that the sports betting exchange sites you choose consistently offers tight spreads between back and lay odds, allowing you to maximise your potential profits.
  • Multiple payment methods: A top exchange betting site, like the Dafabet exchange, should support a variety of payment methods, including credit and debit cards, e-wallets, bank transfers, UPI, and even cryptocurrency. This flexibility ensures convenient and secure transactions.
  • Mobile app: Mobile compatibility is crucial. Check if the exchange offers a user-friendly mobile app or at least a well-optimised mobile website. Betting on cricket matches should be seamless, whether you're on a smartphone or tablet.
  • Commission rates: When evaluating a cricket exchange betting app or site, consider the commission rates they charge on winning bets. Most earn revenue by deducting a small percentage as commission. It's essential to choose an exchange with competitive commission rates to beef up your overall profitability.

Best Betting Exchanges: Compared

Bookie Exchange Criteria
Fun88 Crickex Dafabet Indibet Matchbook
Welcome Bonus250% up to ₹5,000₹1,200 Referral Bonus200% up to ₹20,000400% up to ₹25,000--
Mobile AppYes (both Android & iOS)Yes (both Android & iOS)Yes (both Android & iOS)Yes (both Android & iOS)Yes (both Android & iOS)
LicenceCuraçao Gaming Control BoardCuraçao Gaming Control BoardCuraçao Gaming Control Board & UK Gambling CommissionCuraçao Gaming Control BoardAlderney Gambling Control Commission
UPIYesYesYesYesYes
Withdrawal Time10 minsUp to 72 hoursInstant to 4 hoursUp to 72 hoursUp to 72 hours

Exchange Betting Apps & Sites: Advantages & Disadvantages

Exchange Bets Advantages
  • 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
Exchange Bets Disadvantages
  • Matching bets could be a problem in less common markets
  • Bonuses may not be as great as regular betting sites

How to Get Started With Betting Exchange Sites

To illustrate the below steps more clearly, we have gone with the process laid out Dafabet. Things should remain more or less the same across other exchange sites.

  • Step 1: Create an account on the chosen exchange bets site by providing your personal information, such as name, email, and phone number.

Dafabet login

(Source: Dafabet)

  • Step 2: Once your account is set up, deposit funds into your bookie account.
  • Step 3: Go to the “Menu” and tap on the “Exchange” option.

Menu screen on dafabet app

  • Step 4: Browse through the available events and pick the one you wish to bet on.

Dafabet odds

  • Step 5: Select the odds for either “lay” or “back” bet and decide how much money you wish to wager (stake).

Betslip on Dafabet

  • Step 6: Tap on the “Place Bets” to submit your wager.

Place bets option on dafabet

Tips on Using Betting Exchange Sites

How can you make the most of exchange betting? Here are some simple tips for you to maximise your potential profit at online betting exchange sites in India:

  • You do not get fixed betting odds when using a betting exchange. So, take your time and ensure you get the most value from the odds by comparing the various “back” and “lay” bets on offer.
  • ‘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 the profit. Also, a few even have skilled tipsters for extra insights.
  • Check if the betting exchange in question provides live betting. The best live betting sites provide handsome odds across a slew of markets, creating an exciting and dynamic wagering experience.

Betfair Alternatives in India

Despite Betfair's status as the largest global betting exchange, it has one major and obvious main drawback: it does not operate in India. If it's any consolation, though, it does charge a fairly high commission of 5%-7%, so in that regard, you won't be missing out on much!

Betfair restriction message

(Source: Betfair)

Can I Access Betfair with a 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.

Betfair Cricket Exchange Alternatives

Betfair hasn't been available in India for a while now, with no real chance of it returning anytime soon. Worry not, however – below are our recommendations for the top Betfair alternatives in the country:

1. Dafabet

Dafabet is a reputable alternative to the Betfair cricket exchange in India, providing a straightforward layout with multiple exchange bets on offer. With diverse market selections, Dafabet caters to the preferences of Indian bettors. Importantly, considering the number of promotions currently available on the website, we can say that Dafabet has no liquidity issues.

2. Crickex

Crickex stands out as another reliable Betfair cricket exchange alternative, providing multiple live cricket betting exchange markets and a customer-centric and neat UI. Additionally, Crickex offers a ₹1,200 referral bonus, enhancing the overall experience for fellow Indian users.

3. Fun88

As of the day of publishing, the Fun88 sports exchange betting app/site features cricket, football, volleyball, tennis, and other special markets. Live exchange betting markets are available as well, allowing you to place “back” and “lay” bets on any match while the game is still in progress. Also, the platform offers a generous 250% bonus of up to ₹5,000 on your first deposit.

4. Indibet

If you're looking for alternatives to the Betfair cricket exchange, Indibet should be right up your street. Yes, the platform does not score high when it comes to a modern-day UI or an appealing website, but instead keeps things simple. The Indibet layout is easy-to-use and functional, focusing on live betting with a vibrant and high-liquidity exchange. Indian users benefit from good liquidity and a handsome 400% welcome bonus of up to ₹25,000.

Top Betting Exchange Apps

The Indian online gambling market is home to some of the best betting apps for cricket and other sports. However, not every app offers a betting exchange; in fact, only five do as of the day of publishing this guide. In this section, we have compiled those five exchange betting apps currently available in India so that you can make an informed decision when choosing one.

1. Fun88

A screenshot of Fun88 app

(Source: Fun88)

The Fun88 app, available for both Android and iOS, not only ranks among the best when it comes to conventional betting, but also plays its part to the tee if you’re looking for a solid and reliable betting exchange app.

Fun88 Betting Exchange App Pros
  • Diverse sports betting options
  • Attractive promotions and bonuses
  • Telephone customer support
  • Accepts UPI payments
  • Decent UI
Fun88 Betting Exchange App Cons
  • No live streaming
  • Slow response from live chat support

2. Crickex

Crickex app

(Source: Crickex)

Crickex is arguably one of the better cricket exchange betting apps currently available on the market. With multiple live betting markets and a section devoted to stats and results, the Crickex app hits it out the park and is available for both Android and iOS devices.

Crickex Betting Exchange App Pros
  • Competitive odds
  • Dedicated stats and results section
  • Convenient payment options
  • Cash-out option available
  • High-definition live streaming
  • In-play betting
Crickex Betting Exchange App Cons
  • UI not at par with apps of other top bookies
  • No welcome bonus for new players

3. Dafabet

A screenshot of Dafabet App

(Source: Dafabet)

The Dafabet app is indeed a reliable exchange betting app with a user-friendly interface, allowing you to effortlessly navigate the platform and browse the extensive selection of sports on offer on the betting exchange.

Dafabet Betting Exchange App Pros
  • Strong focus on Asian markets
  • Extensive betting market
  • Excellent loyalty program for regular customers
  • Hindi and Telegu customer support
  • Regularly updated promotions and bonuses
Dafabet Betting Exchange App Cons
  • Live chat support is limited to automated responses
  • Separate app for sports betting and casino games

4. Indibet

Odds on Indibet app

(Source: Indibet)

Here’s what we thought of the Indibet sports exchange betting app:

Indibet Betting Exchange App Pros
  • Low minimum deposit requirements
  • App storage space of only 37MB
  • Accepts multiple India-friendly payment methods
  • Extensive variety of cricket betting markets
  • Generous welcome bonus + regular cashbacks
  • HD-quality livestreaming
Indibet Betting Exchange App Cons
  • App not available for iOS users
  • High minimum withdrawal limit of ₹1,000
  • UI can be worked upon for better engagement

Cricket Betting Advice Final Say

We hope you found this guide helpful. To derive more value from top 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.

Betting Exchange Sites & Exchange Bets FAQs

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

If you’re looking for the best betting exchange in India, we recommend you try out Dafabet, Crickex, Fun88, Indibet, Matchbook, and 24betting.

Can top betting exchange sites in India operate legitimately?

Yes. Online betting exchange sites in India can function legitimately, provided they are international (offshore) bookmakers headquartered outside India.

Can I bet on all sports with these betting exchanges?

It depends on the exchange betting site or app in question. Usually, cricket and football are the most common options for placing exchange bets in India.

Is the Betfair cricket exchange available in India?

No. The Betfair cricket exchange does not offer its services to Indian punters. However, there are equally good exchange sites like Betfair, like the ones we have discussed in this article.

What happened to the 1xBet betting exchange?

1xBet has discontinued its betting exchange in India.

What happened to the Parimatch betting exchange app/site?

Parimatch used to offer a betting exchange app, but it has since discontinued it, much like 1xBet.

Are betting exchange apps available as well?

Yes, of course. All five betting exchange sites – Fun88, Indibet, Crickex, Dafabet, and Matchbook – have their apps that are available in India.

Why should I use a betting exchange over a conventional sportsbook?

Unlike traditional sportsbooks, where bookmakers set the odds, betting exchanges operate on a free-market principle. Here, bettors collectively determine the odds, with one party “backing” (betting on the outcome) and the other “laying” (betting against the outcome), which is the reason why betting exchange apps are also called ‘back lay betting apps’. This dynamic often results in more favourable odds and increased opportunities for profit.

How does a betting exchange make money?

A betting exchange typically generates revenue by charging a small commission on winning bets placed by users. This commission is a percentage of the winnings, ensuring that the exchange profits regardless of the outcome of the event.

How are top betting exchange sites in India different from conventional bookmakers?

A conventional bookmaker sets and offers odds to users, while a betting exchange allows users to bet against each other, with odds determined collectively by the users themselves.

Can I ask for my own odds on a betting exchange? How do I do that?

Yes, on a betting exchange, you can request your own odds by creating a “back” or “lay” bet with the odds you desire. Other users may then choose to match your bet if they find it acceptable, allowing you to negotiate and potentially get the odds you want.

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