Best Betting Exchanges in India For 2021
Although betting exchanges are generally considered a less popular way of betting on sports, they are very popular among passionate sports bettors in India. Moreover, some avid sports bettors claim that betting exchanges offer better terms for wagering on sports than classic bookmakers. Read More
This is not that far from the truth though, because betting exchanges work slightly differently compared to traditional bookies. In case this is the first time you’ve ever heard about the existence of betting exchanges, you’ve come to the right place.
We at Betopin have collected all the crucial information about top-rated sports betting exchanges that welcome Indian players with open arms. In this detailed guide, you will find out all about betting exchanges that might be of interest to Indian sports bettors.
We will discuss the way betting exchanges work as well as present a list of sports betting exchanges our fellow Indian bettors can trust. Without further ado, let’s get to work!
- 1 Best Betting Exchanges in India For 2021
- 1.1 Is Online Sports Betting Legal in India?
- 1.2 Betting Exchanges Compare The Top Sites in India
- 1.3 What is a betting exchange and how do they work?
- 1.4 Our Process of Selecting Top Indian Betting Exchanges
- 1.4.1 Regulation and Financial Security
- 1.4.2 Bonuses and Promotions
- 1.4.3 Range of Markets and Speciality Stakes
- 1.4.4 Multiple Stakes and Best Online Odds
- 1.4.5 In-Play and Live Betting
- 1.4.6 Popular Payment Methods for Indian Players
- 1.4.7 Mobile Sports Betting in India
- 1.4.8 Potential Risks of Placing Bets in Online Exchanges
- 1.5 Free Betting Exchange Bets
- 1.6 Betting Exchange – FAQ
- 1.6.1 Which are the top betting exchanges Indians can access?
- 1.6.2 What types of sports can you bet on in India?
- 1.6.3 Can I play for real money in online Indian betting exchanges?
- 1.6.4 Are there bonuses and promotions in Indian betting exchanges?
- 1.6.5 Are these Indian betting exchanges safe and secure?
- 1.6.6 What are my chances of winning real money in Indian betting exchanges?
- 1.6.7 Can I bet on sports in India via my smartphone or tablet?
- 1.6.8 Do I need to download an app in order to use a betting exchange?
- 1.6.9 What is the legal gambling age in India?
- 1.6.10 Are there any taxes I need to pay on my sports betting winnings?
Is Online Sports Betting Legal in India?
The Indian gambling market is regulated by two vital acts — the Public Gambling Act and the Technology Act. These laws say that sports betting is not permitted in the country, as well as other forms of gambling. The only exception to this rule when it comes to sports betting is horse-race betting that India’s Supreme Court legalized after proclaiming it a game of skill.
Speaking of placing online bets on sports, the Indian government is not quite happy about it. However, every state in India has the right to regulate its own gambling laws, and some states, like Sikkim, have used this right to make a move on the legislation of online sports betting, including betting exchanges.
Yet, the good news is that India isn’t quite interested in prosecuting players who tour offshore online betting exchanges. As a result, Indian players are free to visit any of the numerous international betting sites to place bets on their favourite sports.
Now that we clarified the legal aspect of online betting in India, let’s help you find the best betting exchange sites in the country.
Betting Exchanges Compare The Top Sites in India
The top betting exchanges have much better odds than traditional fixed odds bookies so you can win much more for single and straight bets. There are quite a few around now, but we’ve put a table together of the top online betting exchange so you can see what welcome offer and bonus to expect as well as their best features and if they are suitable for your betting style.
What is a betting exchange and how do they work?
A gambling exchange is not really a bookie, it is a matchmaking service that matches stakes from backers and layers. Traditional bookmakers would like you to shed. Betting exchanges have a commission on stakes so it actually works in their favour should you triumph as you bet more.
When you’re placing a bet you will be doing it against another individual or a market maker, meaning that your odds when you place a bet on a betting exchange are going to be better than with a regular bookie. They essentially function like a stock exchange revealing orders (or stakes ) of gamblers that are either positive or negative about an occasion. In reality, you may also make use of betting exchanges to wager on the monetary market.
Betting Exchanges Basics
As we already mentioned, betting exchanges allow players to bet against other players. The first one of the two players who want to place a bet is backing the bet. Simply put, that player is trying to guess an outcome of a specific match and placed a bet on it.
The other player now performs an action called laying a bet. In other words, that player is placing money against the outcome in question. For a bet to be considered valid, they both have to agree on the odds and stakes on their own terms. Therefore, an online betting exchange site is only there to connect these two players and enable these two players to put their words into action.
So, to sum it up:
- Backing — a player is betting that something will happen
- Laying — a player is betting that something won’t happen.
This is a characteristic of betting exchanges only and it can’t be done with traditional bookmakers. Standard online sportsbooks are the ones that dictate the odds to which players have to agree in order to take part in sports betting.
Therefore, if you want to choose your own sports betting odds, you should skip all the standard bookmakers and go right to a betting exchange. The next paragraph is about to give a real-time example of the way betting exchanges work. Stay tuned!
How Online Betting Exchanges Work
These offer by far the best odds around because you are not actually betting against the bookie. You are betting against other players. You can also bet on something not happening, so if you think the favourite doesn’t stand a chance of winning you can “Lay” them. Let’s look at Brazil as an example here. They are currently 4.2 on Betfair which means if you “Back” them to win with £10 you will win £32 (£10×4.2 = £42 less your stake of £10 = £32). But, if you think they will lose, you don’t need to bet on every other team, you just “Lay” them. You essentially become the bookie and accept a £10 bet at 4.2 from someone else. What this means is that if you “Lay” them for £10 to win and they do not you get the £10 someone else staked on the bet. However, as the odds are 4.2 if you loose you end up paying out £42 to the person who bet against you (£32 win liability and the £10 stake). So you stand to make £10 but lose £32.
The key to winning with betting exchanges is finding the best odds. For example you might also learn how to join on different online betting promotions, so on that section of the site our top list will display you the best odds
There are three main betting exchanges which we have listed below. Each of them offers a welcome bonus once you have deposited funds. It is always worth opening accounts with all three and funding will a token amount of £50 to get the welcome bonus. The betting exchanges give new customers extra money to bet with as part of their strategy to increase business as they assume you will come back for more after your initial bet. This is fair enough and a good way to increase your betting budget.
- Betfair – the biggest and best – Claim your £10 welcome bet here
- Smarkets – the new kid on the block – Claim you free £20 World Cup special bet here
- BetDaq – a well-established player based in Ireland – Claim your £25 no-lose bet here
Betting and winning losers
The very best thing about gambling exchanges (even more than the better odds) is that you may gamble against a losing result. This could be a horse maybe not winning or a football game not scoring enough goals. You do this by placing bets on a gaming market, so you are basically behaving as the bookie accepting bets from individuals.
Our Process of Selecting Top Indian Betting Exchanges
Consider yourself lucky if you never had to look for a proper betting exchange all by yourself. The process of finding a solid betting exchange platform in India can be quite difficult since there are many factors you should take into consideration if you want a flawless betting experience.
Betopin team in charge of finding the best betting exchanges knows really well how daunting the task can be since we have been reviewing betting exchanges for years. For this reason, our team of sports betting experts knows exactly what a good betting exchange must look like to satisfy our loyal readers.
However, we know that you’ve probably heard this line many times before. That’s why we decided to share with you our process of selecting crème de la crème betting exchanges for Indian bettors. Stay with us until the end of this guide to find out why we believe our site should be your one and only source of information about online betting exchanges to play in from India.
Regulation and Financial Security
One of the most important things our team always checks first is a legal license that allows the site to accommodate bettors from India. The license must be issued by a respectable online gaming jurisdiction and be publicly available somewhere on the platform.
Also, every player that invests money on wagers in online betting exchanges must feel safe and secure at all times and know that any provided data or deposited money will be well protected by the site. For this reason, each of our platforms must put in place some kind of protective measures such as SSL encryption, the latest firewalls, or any other state-of-the-art protection.
The important gambling exchanges are all regulated by the relevant gambling commission and have strong financial backing. Of course, you can not lay bets as a bookie as you will need to be regulated, but through a betting market, it’s structured as a lay bet so that you are able to profit from losing. You should never set or lay bets on an exchange that isn’t controlled or financially backed.
Bonuses and Promotions
Bonuses and promotions are actually the main reason why people create accounts in online betting sites in the first place. Nowadays, the sites are all trying to go the extra mile by offering the best possible perks for both new and regular players, and Indian betting exchanges are no different.
Although you shouldn’t expect bonuses as high as you can probably find on a traditional betting site, there will definitely be some treats the moment you open your account. The most common bonuses betting exchanges in India offer include free bets on cricket betting.
With these free bets, you are able to place wagers on certain sports without spending a dime, which is the best possible news you can get from a betting site.
Range of Markets and Speciality Stakes
The variety of betting markets is another crucial point in assessing a betting exchange for a particular country. When it comes to India, cricket betting is something a betting site must offer. Of course, we won’t even mention sports like popular leagues for soccer and basketball, as well as other major sporting events.
Apart from cricket betting, the site is considered a top-notch one if it offers some unusual betting options like the ones on kabaddi games. Among all these things, Indian players also follow horse racing, so it should definitely be on the menu of every respectable betting exchange.
It is possible to wager on pretty much anything there’s a market for from the major sporting events to reality TV. Betting on unconventional markets is only possible if there is significant demand from market makers and those willing to put bets. The market takes no danger on the best, so it can provide the platform to match interests.
Multiple Stakes and Best Online Odds
The best betting exchanges in India have very good liquidity and odds on straight bets, and the larger ones have great placed and outside bet categories. However, if you are interested in finding multiple bets this isn’t really possible as locating a niche maker or coating that’s ready to provide such long odds will be infrequent.
For numerous bets, you’re better off using a conventional fixed odds bookmaker. For ordinary to win or place gambling, betting exchanges still offer you the best odds around.
What we’re trying to say here is that online betting exchanges have their pros and cons, just like the classic betting sites. Your job would be to discover what it is that you want from your betting experience. To wrap it up, in betting exchanges, you can adjust the odds the way you like it, which is more or less the most important aspect of sports betting. Yay betting exchanges!
In-Play and Live Betting
Thanks to modern technology, we don’t have to be physically present at the game to be able to place a bet. We have tried to find the best online betting exchanges that offer both in-play and live betting, so our readers can have a plethora of betting options all the time.
Should you compare betting exchanges to stock exchanges, it is possible to see why in-both play and live betting is so common. The odds most change with need based on what is occurring in the underlying event. They’re a very good indicator of what’s actually happening in the marketplace because it is driven by crown consensus rather than firm odds.
As placing a bet is so quickly in the exchange you can bet during a race or in the last few minutes of a football match. This also means you may use betting exchanges to hedge different stakes, take gambling profits early also close down a losing bet before it gets worse.
Popular Payment Methods for Indian Players
International online betting exchanges offer all the regular and approved payment options to players from India. These are in most cases a bank transfers followed by major credit and debit cards like Visa or Mastercard.
E-wallets have also started making their way through the Indian population in recent years. One of the most prevalent choices among Indian players is PayPal, as well as equally good alternatives like ecoPayz, Zimpler, PaySafeCard, Sofort, MuchBetter, and more.
Also, cryptocurrencies like Bitcoin can be used by Indian players for both depositing and withdrawing money in online betting exchanges. However, one of the best things about the sites we have hand-picked for you is that the majority of them accept Indian rupees. This makes it so much easier for players from India to understand the size and generosity of a bonus or promotion.
Mobile Sports Betting in India
India is a country with approximately 500 million active mobile phone users. Knowing this, it comes as no surprise that the majority of Indian players demand booking exchange sites to be available on mobile phones and tablets.
To work properly on a mobile phone or tablet, an online sports betting site has to use HTML5 technology which allows players to place bets without downloading any apps. Simply, the players visit the betting exchange site by using their standard smartphone web browser.
Of course, we don’t say that there’s no site with a designated betting exchange app. If the app is launched and you prefer to use that instead of your browser, both Android and iOS users are welcome to download it.
Potential Risks of Placing Bets in Online Exchanges
It’s clear that the benefits of gambling with the top betting exchanges can be better compared to conventional bookies. But punters must bear in mind that there are considerable dangers to putting bets on exchanges.
If you put a bet and the odds are long, you have the potential to lose many many times greater than the stake. Always ensure you fully understand the risks involved with laying bets since they can be immense.
Free Betting Exchange Bets
Betting Exchanges are wonderful things. They add a competitive edge to gambling that you just don’t get with traditional bookies. The best betting exchanges have fantastic liquidity on all the major and most of the minor markets that enable you to bet against other gamblers, not the house. The house takes a commission on winnings so the odds are always better. Because betting exchanges don’t make more money when you lose the welcome offers are not as good as fixed-odds betting sites, but they still have some good incentives for new players to open an account.
Betting Exchange – FAQ
Which are the top betting exchanges Indians can access?
Our list consists of a plethora of amazing betting exchanges, all of which accept Indian players and offer amazing betting terms. It’s up to you to decide which one is the best for your personality and betting style, as well as where are the players that offer the best odds.
What types of sports can you bet on in India?
Sports betting exchanges on our list offer a variety of betting markets for Indian players. The leading one is, of course, a cricket betting market, followed by soccer, basketball, tennis, kabaddi, and more.
Can I play for real money in online Indian betting exchanges?
Yes, all sports betting exchanges on our list that cater to Indian players are real-money betting sites. Moreover, the majority of exchanges on our list allow Indian players to make deposits and withdrawals with Indian rupees.
Are there bonuses and promotions in Indian betting exchanges?
Yes, online betting exchanges from our list regularly offer bonuses and promotions for both new and regular Indian players. One of the most common types of bonuses available on these sites is free bets that you get upon registration.
Are these Indian betting exchanges safe and secure?
Absolutely! Our list only recommends online betting exchanges that own a license from a reliable governing body. On top of that, the sites have to use the latest protective measures like SSL encryption or firewalls to keep players’ data and transactions safe at all times.
What are my chances of winning real money in Indian betting exchanges?
With betting exchanges, you have much higher chances of winning than with some other forms of online gambling. The reason for this is that you are using your knowledge of the sport in question, as well as the power of deduction to come up with your wager. Finally, you are the one who can select the odds according to your personal preference.
Can I bet on sports in India via my smartphone or tablet?
Of course. All the sites we have listed above are optimized for mobile and tablet use. You don’t have to worry about the type of phone you have, as you can access all the above-mention with either Android, iOS, or Windows phones.
Do I need to download an app in order to use a betting exchange?
Some of these betting exchanges have a designated app you can download in case you want the exchange to be as close to you as possible. However, don’t forget that all the sites on our list can be accessed via your phone’s web browser.
What is the legal gambling age in India?
The legal gambling age in India is 21.
Are there any taxes I need to pay on my sports betting winnings?
Since these betting exchanges are all based outside of India, you are not required to pay any taxes.