Betting Exchanges in India
Have you ever come across the term betting exchange? What does it mean, and how does it work? A betting exchange is a type of betting strategy that allows players to place bets against each other as opposed to a bookie.
Where conventional sportsbooks take the risk of going head-to-head with gamblers on several bet types and markets, such is not the case with a betting exchange where there are absolutely no risks at all.
Unlike normal betting, a betting exchange allows clients to match their bets against each other while being assured of small commissions should their bets win.
It is safe to say that if betting exchanges were not there, then bettors wouldn’t have been presented with highly competitive odds, in-play betting, essential trading features like cash out, as well as what appears to be a rapid expansion of sports betting markets.
A closer look at the global betting landscape leaves one with the impression that betting exchange is gaining popularity at unprecedented speeds like never before, and in many cases, offering clients more transparency, better odds, and intuitively fairer betting experience.
This article examines matters to do with betting exchange in India, some of the best providers of these services, the benefits of using betting exchange, some of the disadvantages or demerits associated with betting exchange, and regulations in place regarding betting exchange in the country.
Betting Exchange: How Does it Work?
So, how does betting exchange work? First, it is important to note that one of the biggest differences between betting exchanges and bookies is that betting exchanges give room to lay betting. Lay betting means that a player backs a certain selection not to win.
When it comes to betting exchange, each bet that gets placed actually involves two bets – there’s one bet that backs a selection to emerge victorious while the second one backs the same selection not to win. There’s nothing such as a stalemate or a certain event to end up without one side winning and the other losing. Only two outcomes are allowed here – win or lose.
Therefore, if you want to place a 925.42 Indian Rupee on a soccer team, for example, Kerala Blasters to win at 10/1, which will return a profit of 9,254.60 Indian Rupee, then you also need to find another bettor willing to risk 9,254.60 Indian Rupee at 1/10 to win 925.42 Indian Rupee.
This last bet option is much easier for players as they are guaranteed some returns, especially if the odds reduced after they’ve placed their bets.
Benefits of Using a Betting Exchange
Undoubtedly, there are plenty of benefits associated with using or placing bets using a betting exchange strategy as opposed to using a bookie.
First, by using a betting exchange, a bettor is provided with many choices. Before, if a sportsbook of your choice was not willing to risk your stake, then it meant that you didn’t have a bet. But with an exchange in place, the only thing you needed was to find another player ready to take on the risk. In other words, you only needed another player to lay your bet.
Secondly, with betting exchanges, value for players will be better compared to those of a sportsbook. A majority of bookmakers are in business to realize profits.
And in order to realize profits, bookmakers won’t really offer “true” odds on a certain selection but slice some fractions of the likelihood of that event to happen in order to realize revenues.
Thirdly, on an exchange, bettors will find that the market doesn’t get priced by a single individual, but by plenty of bets that get placed by others, meaning that more pressure is exerted on layers to provide fairer prices. If they fail to provide fairer prices, they highly risk their bets not getting matched.
Lastly, betting exchanges allow players greater flexibility, giving them a chance to trade the positions they have on the markets as opposed to conventional bookmakers.
Just like the stock market, the value of a bet may go up and down with a betting exchange, meaning that profits are huge with a betting exchange, especially if the value of the bet increases.
Disadvantages of Relying on Betting Exchanges
Are you based in India and happen to be in the dark regarding the demerits associated with betting exchanges? If so, then relax since you are not alone. There are thousands of players -, both local and internationally based – who don’t understand the disadvantages of betting exchanges. But today, we focus on nobody but you, the Indian bettor.
Basically, there are two main disadvantages that we believe you should be aware of when it comes to using betting exchanges. Even though they don’t actually raise a lot of concern on our end, we believe that they are still worth mentioning anyway.
The first demerit associated with betting exchanges is that rewards and bonuses that are available here aren’t anywhere close found at sports betting platform. A majority of exchanges are known for offering a sign-up bonus, though the amount of money that’s involved here doesn’t compare. If you are an Indian bettor thinking of taking advantage of excellent odds, then you may have to calculate as to whether the better odds do make up for what you’ll lose in terms of rewards and bonuses.
Secondly, with betting exchanges, a player isn’t always guaranteed that s/he will place the desired wagers. A betting site or a bookmaker is almost certain to take a bettors wager, up to the stated minimum stake, but that’s not the case when it comes to betting exchange.
Here, a bettor hopes that another player will show up and very much willing to take up the opposite position. While such may not be a big problem, it can turn out to be highly frustrating, especially if a player’s wager doesn’t get matched.
Betting Exchange Indian Scenario
When it comes to betting regulations, India stands out as one of those countries with some of the strictest betting rules that both players and providers must follow. Those caught flouting betting laws in India risk long jail terms or even having their operating licenses revoked by the government. Even though there are plenty of betting exchanges well spread across the globe, a majority of them aren’t readily available to Indian bettors.
The main reason as to why betting exchanges aren’t available to Indian players is due to India’s strict regulations concerning them. While the most famous betting exchange is administered by Betfair, who happened to be the first movers, sadly, Betfair doesn’t accept players from India.
However, while another betting exchange found at Dafabet accepts bettors from India, for some reason, it is also restricted for Indians.
A closer examination of India’s gambling industry reveals that matters to do with betting exchange isn’t as common compared to other countries. Bet exchanges here don’t even surpass more than 5, unlike plenty of European countries where players can find more than 10 betting exchanges.
But all is not lost for Indian players whose intention is to place their bets using a betting exchange. We have taken our time and effort and carried out thorough research and identified a number of bet exchanges that are available and readily open to Indian bettors. We assure you that we will continue updating this list if we become aware of a new bet exchange in the market. With that said, the following are some of the top bookmakers that provide betting exchange in India.
Even though regulated in the Curaco, TECHSOLUTIONS N.V is a firm that is licensed company regulated outside of the Curacao by the Curacao gaming authority. 22Bet has managed to penetrate into India in a bid to offer betting enthusiasts with a feel of betting exchange.
22Bet.com India is a favorite choice for a majority of bet exchange enthusiasts in India and has simplified peer-to-peer wagering on sports and political events. With the firm’s industry-leading rates of commission, players are afforded the chance to set their own odds with the ability to trade them with confidence against each other.
The fairness that 22Bet India offers its clients is that most of the markets that are available are very close to 100% – also known in other terms as a fair book – unlike bookmakers who are known for their built in over-round, an aspect that brings about tighter prices coupled with less value.
Smarmarkets.com India has got one of the best technologies in place that allows Indian players to identify the odds that they are searching for in order to wager on the type of sports that they desire.
Even though 22Bet India hasn’t been around for long, nevertheless, a majority of bet exchange lovers across India seem to prefer it lately.
Established way back in 2007 by a small group of enthusiastic lovers of betting, 1xBet India has grown rapidly by leaps and bounds to the extent of being home to slightly more than 400,000 bettors. Even though it is an overseas website, this betting firm appeals to many Indian players, especially those who prefer betting exchange options.
At 1xBet India, the betting exchange provides players a wide array of sports to wager on with nearly all sports imaginable included here. In an attempt to become the go-to shop, 1xBet India has in place several offers, games, and promotions.
Exceptional customer service, a wide selection of sports, a 100% matched first deposit bonus, and of course, betting exchange are some of the reasons as to why 1xBet India is slightly shy of half a million clients.
Not many bookmakers in India have in place the bet exchange option, an aspect that makes 1xBet India worthwhile for Indian players in the market for such. Even though the offers at 1xBet India aren’t rich now, players should expect some improvements or more to come in the near future.
A look at Betfair India reveals a very interesting story. But first, from the beginning, betting exchanges have always been judged wrongly while being met with a lot of doubts and questions globally.
The same also has and continues to be witnessed across India’s gambling industry, with bookmakers arguing that such was undermining the entire market and forcing them to adjust their margins to a point where they weren’t profitable anymore.
Across the Indian gambling scene, Betfair India has, in the past, been accused of engaging flouting betting laws, a move that compelled the parent company to send emails to their customers informing them that Indian players won’t be accepted anymore.
Before Betfair stopped accepting Indian players, a lot of Indian bettors made Betfair their choice based on the fact that it had in place betting exchange in addition to providing their customers poker, casino games, and several other sports betting products.
Shortly after Christmas last year, the government of India came up with a strict legislation that would punish any company operating without a license. This seems to be god news to Betfair India and its clients since Betfair is one of those reputable firms across the globe known for adhering to every country’s local laws where they operate.
Currently, though, betting exchanges aren’t covered by any Indian law, meaning that such still remains to be a grey area in the country. As of now, it is unclear as to whether Betfair India is operating legally by taking bets from Indian bettors.
888Sport betting exchange allows Indian players to back and lay with some of the lowest commission rates on nearly all the major sports that are on offer. Established in 2008 with its headquarters in Gibraltar, 888Sport is licensed in several European jurisdictions such as Malta, Denmark, and the UK.
Even though 888Sport is somewhat new to India’s gambling industry, it is one of those top destinations for Indian bettors in search bet exchange platforms. Apart from its high odds, bettors from India are readily welcomed at 888Sport. Customer care representatives here are ready to assist players with any questions and are highly professional when engaging their clients.
There’s no denying the fact that the beginning of betting exchanges as a type of betting not only caught traditional bookmakers like a wet blanket but necessitated a lot of them to alter their modes of operations.
With the popularity of betting exchanges soaring, challenges couldn’t be avoided, with heavy criticisms coming specifically from those with huge interests in the traditional bookie model. India, a country with one of the strictest gambling laws, seems heavily affected by betting exchange platforms being strikingly limited.
This is despite an increasing number of people who favor betting exchanges. Looking at the advantages that come with betting exchanges, it is no wonder that a lot of bettors, especially those from India, prefer to bet this way. While India’s gambling regulatory body appears to be strict for now, there is a strong belief that sooner rather than later, such laws will be relaxed. Much is expected to be seen in the near future.
As of now, though, the ones mentioned above are some of India’s best betting exchange bookmakers.