Explore our curated list of premier betting exchange sites, where we demystify what betting exchanges are and explain the mechanics behind sports betting exchanges.
A betting exchange is a platform where users bet against each other on outcomes, rather than against a bookmaker, earning money through commissions on winnings
Best Betting Exchange Sites in India
We have handpicked sites that offer a betting exchange. Here are three of these top sites:
Betting Exchange Sites Reviewed
In this section, we list the best betting exchange sites in India.
- Fun88: Offers multiple exchanges with low commission charges
- Dafabet: biggest sports betting exchange with a wide variety of options
- Indibet: Reliable cricket betting exchange option
Fun88 Betting Exchange Site
This operator has a licence from E gambling, Montenegro. Like other exchanges it offers back and lay bets and charges a commission rate of 4% on winnings. It does not charge any commission on a punter’s losing trades.
Punters can bet on all the sports popular including cricket, football, tennis and hockey. Live betting is also possible.
The operator offers numerous popular payment modes, such as UPI, bank cards, bank transfer, net banking and digital payment systems such as SticPay and ecoPayz. It also has a downloadable app for Android and iOS devices. The operator uses the Betfair Trading System. Punters can earn by taking part in an affiliate program.
Dafabet Betting Exchange Site
Licensed by both Curacao and UK Gambling Commission, the operator offers back and lay bets. The exchange earns through commissions on punter’s trades.
Punters can also increase winnings using a mixed parlay feature – a type of accumulator bet. Importantly, Dafabet offers cash out options. Punters can enjoy several betting options on markets on sporting events popular worldwide. These include horse racing, football, tennis, and more.
Dafabet has some attractive promotions and bonus offers. Apart from a welcome bonus offer, the operator also has a newbie starter pack that runs during the user’s first month. The operator allows users to earn via a referral/ affiliate program. The payment options include cryptocurrencies, bank cards, online transfers and e-wallets.
Like Fun88, Dafabet offers a mobile app with dedicated versions downloadable to Android and iOS devices respectively. Like Fun88, the operator uses the Betfair trading software and encryption technology to guarantee a secure betting environment.
Indibet Betting Exchange Site
Licensed by Curacao, this operator has an attractive layout. It has a great focus on cricket betting. Though live streaming is available, it is limited to cricket.
An outstanding feature of Indibet is its promotions for new and existing players. These include a welcome bonus, a deposit bonus, and a casino bonus. Apart from lay bets, the operator has a great betting platform that includes accumulators and parlays.
Indibet’s commissions are dynamic: the operator does not charge commission for some trades. The exchange boasts good odds and a high payout rate, and an easy registration process. It offers many UPI modes of payment among other popular payment methods.
What is a Betting Exchange?
The meaning of “betting exchange” becomes clear when we compare it with a traditional bookmaker. When we place a wager on a traditional betting site, we make a wager against the bookmaker.
However, when we wager on a sports betting exchange, we make a wager against other users who predict the opposite outcome.
Another major difference between a sports betting exchange and a bookmaker is in the way the two earn their respective incomes. A bookmaker earns when a punter loses.
However, a sports betting exchange earns when a punter wins. The income of the betting exchange is a commission on the winnings.
Thus, the main difference between the two betting destinations is that users in an exchange bet directly against other users. Thus, a wager made on an exchange involves two types of players.
The first is one who makes the ‘back’ bet. This wager is identical to the one made with a traditional bookmaker. This wager involves selecting a result and confirming your stake.
The second type of player in an exchange is the most important one. He is the user who ‘lays’ the bet. In other words, he bets against the outcome.
We can understand this better by taking an example of an upcoming English Premier League football match between Sheffield United and West Ham. Bookmakers’ odds make West Ham the favourites to beat Sheffield United.
Rather than bet on West Ham to win the game, you can lay a wager on Sheffield United not to win. The exchange will match your bet with another player who backs Sheffield United to win.
How Does a Sports Betting Exchange Work?
As we have seen in the previous paragraph, lay bets make betting exchanges different from traditional betting sites. A lay bet is a bet that a selection will lose.
In the match between Sheffield United and West Ham, you are confident that Sheffield United will lose. So, rather than bet on West Ham to win, you decide to bet on Sheffield to lose.
Accordingly, you can place two types of bets on an exchange. You can either back a selection (West Ham) to win or lay a selection (Sheffield United) to lose.
Thus, betting exchange allows a punter to exercise more freedom than traditional bookmaking sites. You can place any wager you want provided there is a player to bet on the opposite outcome.
So, you can lay a bet on Sheffield United to lose, if there is a player prepared to back Sheffield United to win. (You are certain to find such a player, especially among home fans of Sheffield who are due to host the game.)
Backing a Bet
The term ‘backing a bet’ refers to traditional betting where a punter predicts that an outcome will happen.
Laying a Bet
The term ‘laying a bet’ refers to betting for an outcome not to happen.
Why Use an Online Betting Exchange?
In this section of our review of betting exchange sites, we look at some advantages that an online betting exchange has over a sportsbook. We also consider some disadvantages that betting exchanges could have when compared to sportsbooks.
Advantages of an Online Betting Exchanges over a Sportsbook
There are many reasons why punters may prefer sports betting exchanges over sportsbooks.
Better Odds
Punters can expect better odds from online betting exchanges than from sportsbooks. This is because betting exchanges do not have to factor a profit margin into the betting odds.
More Flexibility
Online betting exchanges give punters more flexibility, because punters can decide their own odds as well as who to bet against.
More Markets
Punters on online betting exchanges enjoy a greater range of markets.
Disadvantages of Betting Exchanges over Sportsbooks
There are also some areas in which sportsbooks score over betting exchanges.
Low Frequency of Bet Matching
Punters may not always get their bets matched. However, this is more likely when punters bet on smaller events or sports that are less mainstream. It is unlikely to happen when punters bet in popular markets.
Relative Absence of Bonuses
Bonuses and rewards are more often available on sportsbooks than on betting exchanges. Although some betting exchanges offer bonuses, they are generally not as interesting as the ones available on sportsbooks.
How to Place a Bet on a Betting Exchange Site?
You can place a bet on a betting exchange with the following steps.
- Identify your preferred betting exchange site and create an account.
- Deposit funds into the exchange account and claim any bonuses if available.
- Choose the event you would like to wager on.
- Choose your bet based on the “Back” and “Lay” odds next to the potential outcomes. Place your bet by clicking on either “Lay” or “Back” next to your preferred selection.
- Enter your stake, and click on “Submit.”
Note: the actual process may vary a bit from site to site.
Betting Exchange Apps
Some bookmakers offer separate betting exchange apps. In our view, Fun88, Indibet, and Dafabet are the top exchange betting apps to play on. With its dominant focus on cricket, Indibet’s app could also be called a cricket exchange betting app.
We rank these betting exchange apps very highly thanks to their reliability, user-friendly design, range of markets, and good odds offered.
Apart from their extensive coverage of sports, these apps have a wide array of betting features, and numerous betting options.
Betting Exchange FAQs
In the final part of our review of betting exchange sites, we answer some frequently asked questions.
Are betting exchange sites legal in India?
In the absence of federal laws that prohibit online betting, betting exchanges are legitimate in India.
What do you mean by ‘back’ in a betting exchange?
In a betting exchange, ‘back’ refers to traditional betting where a punter predicts that an outcome will happen.
What do you mean by ‘lay’ in a betting exchange?
In a betting exchange, ‘lay’ refers to betting for an outcome not to happen.
What are the best betting exchanges in India?
There are several good betting exchanges in India. In our view, the best ones are those offered by Fun88, Indibet, and Dafabet.
Is Betfair exchange available in India?
No, the Betfair betting exchange does not accept users from India.
Are all bookmakers powered by the Betfair betting exchange?
No. Many betting exchange sites do integrate Betfair’s sports, odds feed, markets, and features into their own betting platforms. However, many bookmakers operate independently or are part of other companies.