What Is a Betting Exchange?
A betting exchange allows you to exchange bets with other players, just like yourself.
So instead of betting against the bookmaker, you are actually betting against other players when using a betting exchange.
Unlike a conventional sportsbook, the betting site does not make any money when you lose. They just make money on commissions by facilitating bets between players.
WHY USE A BETTING EXCHANGE?
There are 3 overarching reasons why you should use a betting exchange:
- Betting exchanges offer better odds
- You get higher profits
- You have more fun!
On a betting exchange, the odds are determined by the market. So if there are a lot of players who believe that Mumbai Indians will win against Chennai Super Kings, then the odds will swing in favor of a win for Mumbai.
This is good news for players who believe Chennai will win because this will make odds on a Chennai win very lucrative.
The higher odds that you get when using a betting exchange then result in bigger profits, which I’m sure we can all agree is a good thing!
Using a betting exchange is often way more profitable than using a conventional betting site!
And lastly, using a betting exchange is just way more fun than using a conventional betting site.
There’s something exciting about betting against other players, instead of always betting against a bookmaker who has miles and miles of statistics and data on their side.
Keep in mind: you should only do exchange betting with money that you are comfortable losing!
So now that you know more about betting exchanges, the next question is, which exchange should you use?
We compare the 3 best betting exchanges in India below. Pick the exchange which appeals to you!
BEST BETTING EXCHANGES IN INDIA
Betwinner Exchange
Best Betting Exchange in India
Betwinner Exchange is one of the top betting exchanges in India.
You can exchange bets on 9 different sports, including cricket, football, tennis, boxing, and more.
The Betwinner Exchange allows you to exchange bets with players all over the world.
There are tons of betting options available on the exchange, so you will always be able to find an interesting bet to make. The betting exchange platform is easy to navigate and pleasant to the eyes.
Depositing money on Betwinner is easy, and can be accomplished using UPI, Paytm, Skrill, Cryptocurrency, and much more.
For these reasons, we believe the Betwinner Exchange is the best betting exchange in India at this point in time!
1xBet Exchange
Second Best Betting Exchange in India
The 1xBet exchange is one of the biggest and most popular exchanges in India.
1xBet is popular, not just because of their betting exchange, but because of the massive selection of games and betting options they offer.
The 1xBet exchange is actually 100% identical to that of Betwinner (presumably because the two betting sites use the same odds provider), but the exchange betting platform on Betwinner is way more user-friendly than 1xBet.
However, on 1xBet you have more deposit/withdrawal options, which include UPI, Paytm, and PhonePe.
At the end of the day, Betwinner and 1xBet exchange are very similar, and it doesn’t really matter which one you choose. So sign up to get started exchange betting immediately!
Fun88 Exchange
Third Best Betting Exchange in India
Fun88 offers a decent betting exchange with a platform that is neat and easy to use.
The biggest drawback of the Fun88 exchange is that there is only a small number of events to bet on.
Sure enough, you can find betting options within the 3 major sports: cricket, football, and tennis, however, that’s pretty much all there is, with the exception of occasional horse racing games as well.
If those sports are all you need, then Fun88 may be just what you are looking for. But if you want a greater diversity in betting options, we suggest looking at a different betting exchange.
How to Use a Betting Exchange
Now that you know which betting exchanges are the best in India, you may be wondering how to actually use a betting exchange.
If that’s the case, then the following guide is for you.
Follow the steps below to get started exchange betting in no time!
Step 1: Join a betting exchange
When you have decided which betting exchange you want to join, the next step is to sign up and create an account.
This is a simple process that can often be completed in a matter of minutes.
Just make sure that you type in your correct personal details when signing up, as your identity will have to be confirmed at a later stage.
Step 2: Deposit money on the betting exchange
Depositing money on a betting exchange is quite easy for Indians, and can be accomplished using a range of different payment methods.
This includes common Indian payment methods like UPI, online bank transfer, PayTM, Google Pay, PhonePe, and more.
Note: all the best betting exchanges in India accept UPI deposits, so go ahead and sign up with one of our recommended exchanges to ensure that you can swiftly and easily deposit and withdraw money.
Step 3: Get a welcome bonus on the betting exchange
All of the betting exchanges that we recommend offer some form of welcome bonus to new players on the exchange, and it is our advice that you take advantage of this free bonus as it gives you more money to play around with.
Using a welcome bonus on a betting exchange is 100% free
Your welcome bonus is typically awarded right after you make your initial deposit on the betting exchange.
HOW TO PLACE BETS ON A BETTING EXCHANGE
If you haven’t used a betting exchange before, you are probably wondering how it works. You may even be slightly confused by what all the different buttons mean.
But don’t worry – in this guide, we will show you all that you need to know about how to bet on a betting exchange, so you can start placing bets today!
Exchange Betting Explained:
When using a betting exchange, you have the option to either back or lay a bet.
- Backing a bet means you believe the outcome will occur.
- Laying a bet means you believe it will not occur.
So unlike a regular sportsbook, a betting exchange actually gives you the option to bet that a team will not win their match. This means you get rewarded if the opposite team wins, or if the match ends in a tie.
Arbitrage betting on an exchange
When using a betting exchange, it is possible to place arbitrage bets.
This means you are essentially betting on both sides of an outcome. Example: Mumbai Indians will win their match AND Mumbai Indians will lose their match.
This type of arbitrage betting is not allowed when using a regular sportsbook, however, it’s perfectly possible to do arbitrage betting on a betting exchange.
Essentially, this means that you have the opportunity to place a bet that only has positive/profitable outcomes for you (also known as a surebet).
Finding a good arbitrage betting opportunity, and learning how to place arbitrage bets on a betting exchange may take you some time.
Also, the profits are often gonna be quite limited before you really learn the ropes. But if you want to give it a try, then arbitrage betting via a bet exchange is perfectly legal and possible!
Now that you know how to use a betting exchange, it’s time to join an exchange and start placing your bets!
Which betting exchange should you join?
Although the few betting exchanges in India offer very similar products, we believe that one exchange is superior to the rest, and that is Betwinner.