Top 6 Betting Exchange Sites in India (2022)

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 of these platforms available to Indian punters, credible Betfair alternatives in India, and the best exchange betting apps.

Top 6 Betting Exchange Sites in India

  • Excellent cricket betting exchange site
  • Pay with UPI + 24x7 Customer support
  • Low minimum deposit of ₹200

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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
  • Easy process flow to place back and lay bets
  • Ready stats and livestreaming available
  • Multi-language support

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Dafabet
MAIN FEATURES
Live Streaming
In-Play Betting
Stats
INR
Hindi
24/7 Support
Mobile app
Bitcoin
Fast payout speed
  • Excellent market coverage
  • Live chat support
  • Betting exchange apps for Android and iOS

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
24/7 Support
Mobile app
Fast payout speed
  • Pay with Netbanking, UPI, GPay, Visa, Mastercard
  • Excellent cricket betting exchange site for beginners
  • Fun88 betting app for Android and iOS

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Fun88
MAIN FEATURES
Live Streaming
Betting Exchange
In-Play Betting
Live Chat
INR
24/7 Support
Mobile app
Fast payout speed
  • Brand new betting exchange
  • Brilliant website design and UX
  • Low minimum deposit of ₹200

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PariMatch
MAIN FEATURES
Live Streaming
Betting Exchange
In-Play Betting
Live Chat
Stats
INR
Hindi
24/7 Support
Mobile app
Bitcoin
Fast payout speed
  • Low minimum deposit of ₹100
  • Real-time cricket score updates for easier in-play betting
  • Pay with Netbanking, UPI

Free bets up to ₹1,000 + 100% Bonus up to ₹10,000

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Indibet
MAIN FEATURES
Betting Exchange
INR
24/7 Support
Average payout speed

Top Cricket Betting Exchange Sites

  • Matchbook: Live chat support
  • Crickex: Low minimum deposit of ₹200
  • Fun88: Betting exchange app for iOS & Android
  • Parimatch: Best website design

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 placing wagers on a sportsbook belonging to one of India’s best cricket betting sites. 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 a better team than Ireland 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.

To Sum Up
  • With new cricket betting exchange sites 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 market, 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 come to that later.


This video should help you gain a better understanding…

 

Betting Exchange Sites in India: Reviewed

 

1. Matchbook

Matchbook Betting Exchange

(Source: Matchbook)

  • Accepts Indian punters: Yes
  • Accepts INR: No
  • Licensed by: Alderney Gambling Control Commission
ProsCons
Deep liquidityCharges 4% commission on winnings in India
Customer support through live chatLacks adequate India-specific banking options
Extremely easy to use, beginner-friendlyDoesn’t accept INR
Betting exchange app for Android, iOS
Decent welcome offer
0% Commission on all sports for 30 days

 

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

Crickex Betting Exchange

(Source: Crickex)

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curaçao
ProsCons
Comprehensive sportsbook with focus on football, cricket, and tennisFocus is on cricket, so fans of other sports might feel left out
Interactive live betting platformCasino bonuses could be better
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, 24×7 live chat support
Tailored offers and bonuses in keeping with wagering requirements and preferences

 

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

Fun88 Betting Exchange

(Source: Fun88)

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Philippine Amusement and Gaming Corporation
ProsCons
Decent sports betting optionsUI for the web browser could improve
Unique promos and bonusesA little variety in casino games would be welcome
Excellent online betting exchangeStringent welcome bonus requirements
Convenient deposit and withdrawal methods, including Google Pay, UPI, Net Banking, PhonePe

 

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

Dafabet cricket market
(Source: Dafabet)
  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curaçao
ProsCons
Also offers esports and virtual bettingWithdrawals can be a problem at times
Livestreaming and stats section availableStrict welcome bonus terms
One-touch access to bet slips
24/7 customer support

 

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.

5. Parimatch

Parimatch exchange

(Source: Parimatch)

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Kahnawake Gaming Commission
ProsCons
Focus on cricket, football and tennisExchange limited in scope, may not be suitable for the advanced punter
‘Live TV’ feature (for live streaming)Exchange not available on the app
Special markets availableLive chat support can be more prompt
In-play betting on cricket matchesNot many cricket betting markets on the exchange
Deposit with Paytm, PhonePe, GPay, UPI, Visa/Mastercard
Live chat support + Assistance on Whatsapp/Telegram

 

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.

Plus, 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

Indibet screenshot

(Source: Indibet)

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curacao
ProsCons
Wide variety of sports for betting exchangeNot ample sports-centric bonuses and promos
Offers good liquidityPoor UI
Several India-friendly payment methods like UPI and WhatsApp deposit
Live chat, Telegram, and WhatsApp support available
Exchange betting available in multiple languages

 

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

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 three simple steps below:

  • Step 1: Sign Up

Register an account with the betting exchange by submitting the required details.

  • Step 2: Fund Your Betting Account

This is easy, especially with all the convenient betting payment methods on offer.

  • Step 3: Use the Welcome Bonus

The betting exchange sites we recommend offer all kinds of welcome bonuses and free bets. The best welcome bonuses are usually available on signing up with the bookie, while for others, you will have to make your first deposit. We strongly recommend you utilise the free bets, as they also give you extra cash to play with.

Payment Options at Betting Exchange Sites

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

Deposit Methods

  • UPI
  • Net banking
  • Skrill
  • NETELLER
  • Google Pay
  • PhonePe
  • VISA/Mastercard

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.

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 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 bookie from a betting exchange. While the former will only allow you to place win bet, 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: Pros and Cons

 

  • 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, 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 for Android and iOS.

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

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.

A screenshot of Matchbook's website

(Source: Matchbook)

Betting Exchange Apps in India: Reviewed

Matchbook App

Like we do for cricket betting apps, here are our mini-reviews of three leading betting exchange apps in India:

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

The Matchbook betting exchange site 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 – two being 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 App

  • Betting exchange app available on Android
  • Pay with 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.

Unfortunately for fans of Apple, the Crickex betting exchange site is limited to Android devices only.

3. Fun88 App

  • App available on Android & iOS
  • Pay with NetBanking, UPI, GPay, 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 betting exchange site, 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.

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).

Cricket Betting Advice 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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