PWith a similar background to that stock exchange works, the betting exchange has remarkably revolutionized the gambling industry in this modern world. Because it provides so much excitement, though high volatility and risk are involved, people have exuded great enthusiasm for this unique kind of bet. Hence, in this article, we are going to understand what bet exchange is and what its different types are, and how to use or place your bets using the sites or a particular platform.
What is Bet in Exchange and Why is There a Rush for It?
To understand the type of gambling, let’s move on to how a traditional stock/equity exchange(now most of them have gone online) works. Earlier in equity investment, people used to meet in person and settle trade directly with other parties, and the same happens in the case of betting exchange arrangements where players or bettors meet online on the platform and place bets against each other.
In contrast to traditional gambling, where you would bet against the bookmaker, in this setting, you will play against another bettor. And there are two types of players—backing the bet and laying the bet. As an explanation, backing a bet means you are playing for the event to occur, while in laying a bet, you let the event not occur. In other words, in exchange or exch bet, when you bet a team to win, it is backing the bet, and when you place or lay your bet on a team not to win, it is laying the get.
Bet Exchange vs Traditional Betting
Whichever platform you opt for in terms of betting or gambling interest, all of them offer you excitement and pleasure associated with risk. Now, there are distinguishing features that lay the ground for differences among themselves. For instance, when you bet on Raja Bets you actually bet on a bookmaker, but in the betting exchange, you play against another player or other parties. Let’s check the important differences between the two in the following manner:
| Bet Exchange | Bookmaker |
|---|---|
| You can bet in favor of and against the outcome/results. | You cannot bet against your outcome or result. |
| Easy to hedge your bets on games and tournaments. | It is not easy to hedge your betting on any tournament. |
| It presents a transparent set of odds. | There are a fixed set of odds for many different events. |
| The odds are usually equal to market value as the platform gets a commission from the winning team. | Odds are higher than the market value. |
How Does the Platform Work?
In simple terms, in this platform of gambling, the bettors purchase the odds they consider will bring in the best winning chance or the best odds. And they would decide on the reverse case—they purchase the odds they think will lose to the most certainty. The former is backing the bet, and the latter is laying the bet.
In order to understand how it works, let’s take a simple example for the second type(which is slightly confusing for most people. Let’s say India and England are playing a cricket match. In this example, you know or assume that India will win. However, rather than placing your bet on India, you lay your bet on England to lose the match. Thus, you convert your betting odds in your favor.
Advantages and Disadvantages of Bet in Exchange
When you are tired of playing your favorites on the traditional system, the exchange can be the best option. However, you need to be a bit expert in this gambling setting because it works differently from the traditional or bookmaker, as we have discussed above. However, keeping pros and cons will help you to understand the bet exch better, and so will your winning chance. Hence, the following are the important advantages and disadvantages associated with this environment:
Pros
- You get the option to back lay bets and lay bets for others to back.
- It offers you to take on complicated strategies.
- There is a lower fee associated with this platform; it is comparatively cheaper.
- You can play unlimited gamblings despite consistent success.
- It presents uniqueness; you get an extreme level of fun.
Cons
- You might not find any bonus on the betting exchange.
- The network remains busy due to high traffic.
Features of Betting Exchange
Actually, by now, you have a better idea of how it works and what are the features of this platform. Although we have already discussed the main features above while making the subject understandable, we will shed more light on them.
Back Betting Mode
In this type of gambling mode, you will place your bet on the event to yield a positive outcome. In other words, you will bet in favor of the outcome to happen. For example, if you place your bet exchange on India winning a cricket match against England, you will win only if India wins the match.
Lay Betting Mode
Conversely to the above, in this mode, you lay(place) your bet for the outcome not to happen(not to occur), it is called lay betting mode. For instance, if you bet on India not to defeat England, you will only win if England wins the cricket match.
In-Play Betting Mode
And finally, in this betting mode, you will bet on the gambling process when the action is already going on. You can place exch bet on a certain game when the game is already in progress. For example, you can bet on IPL, World Cup matches, and ISL, which come live on television.
With the horse racing season in full swing, ensure you’re well-prepared on how to bet on the Kentucky Derby 2023 for an exciting and profitable experience.
Top Bettingexchange Sites with Updated List
In fact, there are many platforms or sites nowadays that offer betting options with high-quality variations along with access to different games. However, we will look into the ones which are very popular and versatile in whatever they provide—the number of games, features and deposit and withdrawal options, and so on. There are many reviews covering bookmaker sites, namely Parimatch India review; our review covers every piece of information, including gaming options like Clickbet exchange, enabling one to explore casinos. Hence let’s review the top exchange site:
1. SatBet
Introduced in 2020, the SatBet has gained wide popularity among gambling audiences. With a license from Curacao, it offers all the important ingredients that a platform should have. Its interface is user-friendly, and of which the user finds it easy to navigate within the system. Along with the casino, it hosts a number of games, and it gives live coverage of IPL, BBL, and CPL for Indian bettors. It allows easy and simple payment transactions through UPI, Netbanking, and PayTM, including cryptocurrencies. So, it is a great betting exchange platform. Let’s see its pros and cons and features:
Pros
- Lower fee requirement.
- Great betting experience.
- Easy interface.
Cons
- Withdrawals are limited.
- Options are less.
Features
- It offers live betting options.
- You can play live casino on exch bet.
- IPL live streaming.
- Major betting options are available.
2. Fun88
Another great platform is Fun88, where you can play multiple games and place your bet on them. It came as an entity in 2009 and offers a reliable environment for sports betting and casino gambling. With remarkable features and functions, it has penetrated the Indian gaming and gambling market in a planned manner. Now there are a lot of people who are coming to try their betting experience. You can make a transaction on this bet exchange platform—deposit and withdrawal—using payment mediums such as net banking, UPI, Astropay, EcoPayz, Stickpay, and many more options. Let’s check out its pros, cons, and features in the following ways:
Pros
- It presents a wide variety of options and odds.
- The interface is simple and easy.
- All the major games are available.
Cons
- Fewer markets are available.
- No live-streaming option is available.
Features
- It offers VIP cashback options.
- It hosts all the popular betting options.
- You can play on the go: all available apps are compatible.
- You can enjoy Evolution gaming, Micro gaming, etc.
3. WinDaddy
Established in 2020, WinDaddy mesmerized the gambling audience with its remarkable offerings and services that include various sports and eSports, special events, casinos, and virtual sports. And it has secured Curacao’s eGaming authority enabling the audience to have a legal gaming and betting experience on the platform. Be it a casino—Clickbet exchange, or any exchange, it stands out among all its competitors. And due to the huge potential of cricket, it has focused all its concentration on India. So, let’s check out its pros, cons, and features in the following manner:
Pros
- It gives an excellent user experience.
- You get quick access to popular games.
- It offers various casino games.
- It lets you bet exch on the app.
- It offers specific bonuses to apps
Cons
- There is no iOS app.
- There is no applicable bonus offer as a welcome option.
Features
- It offers 30 different sports.
- This platform is home to 3 sports as an exchange.
- It also offers live-in-play mode.
- You can cash out if you don’t like the platform.
- It offers a wide collection of casinos.
4. Dafabet
As for Dafabet, it operates in the Asia Pacific region and in the Indian market. It is one of the top and largest betting service providers. Founded in 2004, it rapidly expanded its operation worldwide. It has obtained a license from the Curacao eGaming authority, and now it offers a wide range of sports betting options. Accessible to all devices, it offers a fully integrated payment system. With a flat Rs1000 applicable for both deposit and withdrawal, it has the favorite of many gambling enthusiasts. When this betting exchange platform is so much versatile, let’s take deep dive into its pros, cons, and features:
Pros
- There are high odds.
- You will get many wagering options.
- Live streaming is available.
- YOu will get access to quick withdrawals.
- The interface is simple to access.
Cons
- Horse racing is not available.
- Some of the payment options are not there.
Features
- You can cash out whenever required.
- You can watch live streaming and place bets simultaneously.
- They offer virtual sports sessions.
- There are various casino games.
- It has a secure environment.
5. Fairplay
If you like cricket matches, you will certainly like this platform as Fairplay mostly targets the cricket lovers worldwide. Having said that, it doesn’t mean it only offers cricket for gambling. In fact, it hosts major games and sports such as football, kabaddi, tennis, etc. Founded in 2019, Fairplay never looked since then because its audience as gamblers is increasing day by day. It also supports major payment systems such as UPI, PayTM, Cryptocurrencies, Google Pay, and many other mediums. So, let’s check out its pros, cons, and features:
Pros
- The audience gets a simple interface.
- There are excellent odds on Indian games.
- Quick payment options are available.
Cons
- It does not operate in some countries.
- Customer service is not cooperative at times.
Features
- It supports multiple sports event.
- Live chat access is available.
- The live betting option is available.
- You can get access to live cards and live casino games.
While understanding a betting exchange is crucial, having insights on specific sports like betting on tennis matches can further boost your wagering success.
How to Select the Right Betting Exchange Site?
When there is a wide variety of betting sites, it becomes quite difficult to select. In other words, it is confusing which you should opt for because all of them appear to be perfect. Hence, we have outlined some important points that will be helpful for you to select and enjoy your gambling experience on bet in exchange. Hence following are the important points that you should keep in mind:
- Try to check and compare the site you are going to join in terms of commission. It is good if they are keeping a lower commission. The lower the commission is, the larger portion you keep out of your winning.
- Check if the site has various options for bonuses or not. Mostly, betting sites offer to join bonuses, deposit bonuses, and loyalty bonuses. If they offer these bonuses, you can certainly join such a bet exchange.
- The application should have an easy interface. Also, it should not take long to upload. And it should have its own mobile app because you will like to play on the go. Hence, their application should be mobile-compatible. Try to check this trait as well before you join.
- And finally, do not forget to check the number of events that they would cover. They should cover almost all the major sports and events. Also, try to see if they offer live streaming for them or not. Hence, if you find a bet in exchange that covers all the major sports and events, you can certainly join them.
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Frequently Asked Questions
Q1. Are the bet exchange platforms safe to use?
Yes, they are safe to play or place your bets. These platforms provide the opportunity to show your skills as well as earning potential. Although it all depends on your luck but your skills play a major role. The more your play, the better you are experienced. These platforms are immensely safe and secure because they usually have certification from the Curacao eGaming authority. Also, they have their own moderators ensuring the audience’s safety. Hence there is no question of security issues in any kind of betting exchange environment.
Q2. Are these bet in exchange platforms legal in India?
It all depends on state to state in the Indian context. Some states have their own rules and regulation. Some states issued certain local laws giving green signals to these forms of betting.
Q3. What are the best bet exchange platforms in India?
There are many betting service providers in India. However, the following sites offer almost all the prominent features and offerings and therefore they are considered the best:
- SatBet
- Fun88
- WinDaddy
- Dafabet
- WinDaddy
Conclusion
In this era of advanced technology, we are observing many developments on almost all fronts ranging from consumer goods, the educational sector, the service sector, manufacturing, and so on. However, the technology that we experienced in the gaming and betting sector is unprecedented. And with the introduction of betting exchange in the gambling entertainment sector, the play session has undergone a new level of excitement—revolutionizing the gambler’s experience tremendously.