Top 5 Betting Exchange Sites In India

Top Cricket Betting Exchange Sites

  • 1xBet: 1% Commission charged only on winnings
  • Smarkets: 2% commission on winnings
  • Matchbook: Live chat support
  • Crickex: Low minimum deposit of ₹200
  • Fun88: Betting exchange app for iOS & Android

What Are Betting Exchange Sites?

First, let’s get the basics straight.

What happens when you’re betting with a regular bookmaker?

Let’s say you are playing with one of India’s best cricket betting sites. Here, whatever the market may be, you can only bet on one outcome. For example, you can bet on Ireland to win against England. But can you bet on Ireland to not win against England? No. That’s because conventional bookmakers don’t offer you that provision. Sure, you can wager on England to win against Ireland, but that will see a massive drop in odds since England is a better team than Ireland across formats (as of the date of writing this report).

This is where cricket betting exchange sites come in. They allow you to lay a bet, which means you can bet on an outcome to not happen. Taking the above example, you can bet on Ireland to not win vs. England when you’re playing with a betting exchange site.

To Sum Up

  • With betting exchange sites in India, one punter ‘backs’ a bet (the conventional wager where you bet on an outcome to happen), while the other ‘lays’ (where you bet against a result).
  • For this bet to be valid, bettors must agree on the stake, betting market, and odds.
  • Therefore, a betting exchange here serves as the matchmaker, pitting you against the other, allowing two opposing bets.
  • Essentially, you’re not betting against the bookmaker, but you’re simply betting against other punters, like yourself.
  • Unlike a traditional betting site, betting exchanges don’t profit from you losing. Instead, they charge a nominal commission on your winnings, so the more you play and win, the more profit they make.
  • This means you usually get much better odds with betting exchange sites, but we’ll come to that later.


This video should help you gain a better understanding…

Betting Exchange Sites In India: Reviewed

1xBet

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curaçao eGaming License

Pros and Cons

  • Cash Out
  • Tons of promos and offers
  • Multiple secure payment options like Google Pay, PhonePe, Paytm, Visa, and Mastercard
  • Excellent sports betting and casino sections
  • Straightforward sign-up process
  • Live Streaming
  • Live Betting
  • 1% Commission Charged
  • Relatively slow withdrawals
  • Extremely feature-heavy site that might be overwhelming for beginners


Verdict

It isn’t typical for a betting site to offer a betting exchange along with a sportsbook. In fact, bookies are often against such practices, considering punters benefit from higher odds on a betting exchange than what they get with bookmakers. But thankfully, 1xBet isn’t limited by such reservations.

That said, remember that you may not get all the sports on the 1xBet betting exchange compared to the sportsbook itself.

Try out the 1xBet Betting Exchange!

 Smarkets

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Malta Gaming Authority

Pros and Cons

  • Good customer assistance
  • Supports in-play cricket, football, and tennis betting
  • Nominal commission on winnings
  • Supports Visa, Mastercard, Bank Transfer, Neteller, Skrill
  • Good market coverage, including politics & current affairs betting
  • Excellent betting exchange site for cricket
  • Doesn’t accept INR
  • Not the best welcome bonus
  • Lacks adequate India-specific banking options


Verdict

Smarkets doesn’t want to be a Jack o’ all trades. Instead, it is happy being the ‘Master of One’. The site has an easy-to-use design layout, plus it charges a nominal 2% commission on winnings, which is on par with industry standards. So while Smarkets doesn’t offer an online casino, it undoubtedly does its job well – that of being one of the finest betting exchange sites in India.

Add to that decent customer support, sizeable welcome bonus, and various cricket markets, and the UK-based betting exchange certainly makes a strong case for itself.

Try out the Smarkets Betting Exchange!

Matchbook

  • Accepts Indian punters: Yes
  • Accepts INR: No
  • Licensed by: Alderney Gambling Control Commission

Pros and Cons

  • Deep liquidity
  • Customer support through live chat
  • Extremely easy to use, beginner-friendly
  • Smarkets betting exchange app for Android, iOS
  • Decent welcome offer
  • 0% Commission on all sports for 30 days
  • Charges 4% commission on winnings in India
  • Lacks adequate India-specific banking options
  • Doesn’t accept INR


Verdict

Matchbook is a top-notch Betfair alternative in India, suitable especially for medium rollers. Market coverage is decent, much like Smarkets. But the feather on the cap is their betting exchange app that works like a dream on Android devices (also available on iOS, but I could not check how it operates there since I don’t own one).

All in all, we were pretty impressed and have no qualms in rating Matchbook as one of India’s credible and reputed betting exchange sites offering a great user experience. Yes, the commission is 4%, which is higher than what most exchanges charge in India. Plus, it could have done with more India-specific deposit options, but these are things you’d want to look past for the otherwise good package that is Matchbook.

Try out the Matchbook Betting Exchange!

Crickex

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Curaçao

Pros and Cons

  • Comprehensive sportsbook with focus on football, cricket, and tennis
  • Interactive live betting platform
  • Live cricket streaming
  • Good live casino games, including Baccarat, Super Sic Bo Live, Deal or No Deal Live
  • Multiple deposit options preferred by Indians
  • Zero-charge withdrawals, 24×7 Live chat support
  • Tailored offers and bonuses in keeping with wagering requirements and preferences
  • Focus is on cricket, so other sports buffs might feel left out
  • Casino bonuses could be better


Verdict

Crickex is new to the world of online gambling, something which they don’t attempt to shy away from. That said, we believe they hold serious potential to become one of the best of their kind. Yes, there are limitations, including its almost tunnel vision on cricket. On the upside, however, this cricket betting exchange is designed primarily for Indian and Bangladeshi punters. This is already a feather in their cap, considering that the subcontinent doesn’t have many betting exchanges available to punters in the region.

Try out the Crickex Betting Exchange!

Fun88

  • Accepts Indian punters: Yes
  • Accepts INR: Yes
  • Licensed by: Philippine Amusement and Gaming Corporation

Pros and Cons

  • Various sports betting options
  • Unique promos and bonuses
  • Excellent online betting exchange
  • Convenient deposit and withdrawal methods, including Google Pay, UPI, Net Banking, PhonePe
  • UI for the web browser could improve
  • A little variety in casino games would be welcome
  • Nothing much to write home about in virtual sports betting
  • Stringent welcome bonus requirements


Verdict

They may not be the world’s best, but the Fun88 betting exchange is fun to use every once in a while, particularly if you are new to the online gambling space. However, if you are a more experienced punter, you might find this exchange lacking in certain features and betting options.

Try out the Fun88 Betting Exchange!

How To Use Betting Exchange Sites

Now that we know the top betting exchange sites in India, the natural progression is to learn how to use one. To that end, we have compiled three simple steps below:

Simple. Just sign up with the betting exchange by typing in your personal details, and your account will be created. It’s a matter of a few minutes. And with 1xBet, it’s even faster; you have one-click registration, so signing up with them takes a few seconds. Literally.

  • Fund your betting account

This is easy, especially with all the convenient betting payment methods on offer.

Check out our guides to India’s top:

Fast-withdrawal Betting Sites
Low-deposit Betting Sites

The betting exchange sites we recommend offer some sort of welcome bonuses and free bets. The best welcome bonuses are usually available on signing up with the bookie, while for others, you will have to make your first deposit. We strongly recommend you utilise the free bets as they also give you extra cash to play with.

Types of Bets at a Betting Exchange

This is the most straightforward bet type, and one that’s offered by all sports betting sites. Suppose you are betting on The Ashes, one of the top cricket tournaments in the world. Here, a ‘win’ bet is simply when you back Australia to win the trophy (or England, depending on your pick).

In essence, you are putting your money on a specific selection and hoping it will pan out that way. Also, there’s that possibility of landing higher odds with this kind of a bet.

It is this bet type that primarily differentiates a bookie from a betting exchange. Remember that the former will always only allow you to place win bets. But with the latter, ‘lay’ bets are an option as well, where you back a particular outcome of a match to not happen. When you do this, you essentially take on the bookmaker’s role.

A ‘lay’ bet is typically riskier, as it requires you to wager against the interests of fellow punters. Therefore, there’s a lot to lose if you don’t get it right (that is, if the outcome, which you are betting against, happens). That’s precisely why you must use a ‘lay’ bet calculator before placing one of these with a betting exchange.

Betting Exchange Sites: Pros and Cons

  • Higher odds compared to conventional betting sites
  • Chance to earn a bigger profit
  • Usually more flexibility as you can lay a bet
  • Free market principle because there’s no bookmaker setting the odds for you
  • Matching bets could be a problem in less common markets
  • Bonuses may not be as great as regular betting sites

Tips To Use A Betting Exchange Site

  • Remember, you don’t get fixed odds when using betting exchanges. Therefore, take your time and ensure you get the most value from the odds.
  • ‘Lay’ bets can be tricky. Always use a lay bet calculator before placing one so that you know you won’t lose more than you’d gain.
  • Probe into the different betting exchanges, the rate of commission they charge, and if they have any bonus on offer. The lower the commission, the more your profit. Also, some betting exchanges have skilled tipsters for that extra convenience.
  • Check if the betting exchange offers live betting. The best in-play betting sites provide handsome odds across a slew of markets, creating an exciting and dynamic wagering experience. If you’re in for the thrill of it, in-play betting is what you should go for.

Betfair Alternatives In India

Before we explore some Betfair alternatives in India, let’s understand the issue here that’s nudging us to look for a substitute in the first place. Betfair is undoubtedly the world’s most popular and biggest betting exchange, but there are two problems here.

Firstly, Betfair charges a hefty commission (ranging anywhere between 5-7% of your winnings), which can lead to profit erosion in the long term. And secondly, and more importantly, Betfair doesn’t operate in India, and if you try to access it, you’ll get this message.

Betfair restriction message

Can I Access Betfair Using VPN?

Some forums will suggest you use a VPN to sign up with Betfair. However, this will only go so far. Sure, you’ll be able to get access and register, but Betfair’s Know Your Customer (KYC) policy will kick in then, requiring you to verify your betting account with a valid ID proof, address of residence document, and possibly, a deposit method proof.

You could be asked to furnish these proofs immediately after registration or when you proceed to withdraw. And if you fail to verify, your account will be frozen and your winnings confiscated. This will, of course, be a disaster.

So What Are The Betfair Alternatives In India?

Alternatives to Betfair would be all the betting exchange sites that accept Indian bettors. So we’re talking about 1xBet, Fun88, Crickex, Smarkets, and Matchbook. All of them have their own strengths (and a few weaknesses). For example:

  • 1xBet charges just 1% as their commission on net winnings, which is probably the lowest rate across betting exchange sites in India.
  • If you’re particularly looking for a cricket betting exchange site, Crickex will be right up your street. Moreover, the minimum deposit is a nominal INR 200.
  • Likewise, Fun88 is a great option for beginners, plus you get to play on the move with the Fun88 betting exchange app for Android and iOS.

That said, we’d like to focus exclusively on Matchbook and Smarkets for this section, for we think they offer innovative betting products. And with their sports market coverage and competitive odds that are as good as any, they’ve never let Indians rue the absence of a giant betting exchange like Betfair.

Smarkets

It is the newest yet arguably the best Betfair alternative in India you can find. Smarkets charges a 2% commission on net winnings, on par with industry standards. Plus, they’re focused on expanding market coverage — currently, they cover 18 betting options, including cricket, football, horse racing — and increasing liquidity. Indeed, a top contender as a Betfair substitute, especially when you consider the competitive commission percentage.

Smarkets website

Matchbook

In India, Matchbook charges a 4% commission on your net winnings, whereas it’s 2% in the UK and Ireland. So yes, punters in the country are at a slight disadvantage here. That said, Matchbook one-ups Smarkets in departments like live chat (Smarkets’ customer support is not up to the mark), mobile betting apps for Android and iOS, and valuable promos, such as 0% commission for 30 days.

Add to that their market coverage (that’s as good as Smarkets), and Matchbook sure is a credible Betfair alternative in India.

A screenshot of Matchbook's website

Betting Exchange Apps In India: Reviewed

1xBet App

  • App available on Android & iOS
  • One-click registration

1xBet is popular among Indians not only because of its betting exchange app but also due to the sheer variety of betting options on offer. The design is identical to BETWINNER (our guess is because both use the same platform), but we reckon 1xBet is slightly more user-friendly than BETWINNER.

Moreover, there are other things working in favor of 1xBet: India-specific payment options (UPI, Paytm), one-click registration, and a nominal 1% commission charged only on winnings.

To top it off, 1xBet has one of India’s best cricket betting apps, hands down.

Fun88 App

  • App available on Android & iOS
  • Pay with Netbanking, UPI, GPay, Visa, Mastercard

The Fun88 betting exchange app has an easy-to-use and straightforward design, so that’s a plus. It’s a decent betting exchange, really. Sure, this isn’t the most versatile when it comes to betting options; it features markets for cricket, football, tennis, and occasionally horse racing.

However, if you’re particularly seeking a cricket betting exchange site, Fun88 does fit the bill.

Betting Exchange Sites FAQs

1️⃣ What are some of the best betting exchange sites in India?

Cricket Betting Advice

2️⃣ Are betting exchange sites legitimately operating in India?

Absolutely. Betting exchanges that accept Indians and are based out of the country (check for their authorisation by gambling jurisdictions) are perfectly legal.

Cricket Betting Advice

3️⃣ Can I bet on all sports with these betting exchanges?

Almost, but not all. It goes without saying that in India, cricket betting exchange sites are the most popular. That said, you can also wager on other sports, including football.

Cricket Betting Advice

4️⃣ Is Betfair available in India?

Unfortunately, no. However, there are some Betfair alternatives in India, which we have discussed in this report.

Cricket Betting Advice

5️⃣ Are there betting exchange apps?

Yes. 1XBet, Fun88, Smarkets & Matchbook have dedicated betting exchange apps for Android and iOS devices, Also, while Crickex doesn’t have an app, its website is mobile-optimised, which you can seamlessly operate on your mobile browser.

Cricket Betting Advice

6️⃣ Lastly, why should I use a betting exchange over a conventional bookmaker?

Frankly, both have their pros and cons. But the one area where betting exchange sites one-up conventional bookies is that you get higher odds with the former, and consequently, a bigger profit. Plus, betting exchanges operate on the free market principle, as no bookmaker sets the odds for you. Punters arrive at odds mutually, where one party ‘backs’ (bets on the outcome) and the other ‘lays’ (bets against the outcome).

Cricket Betting Advice

CricketBettingAdvice Final Say

We hope you found this guide helpful. To derive more value from betting exchange sites in India, remember the points below:

  • Don’t expect as lucrative bonuses and promos as conventional betting sites offer.
  • However, you will get much better odds than what you’d get from a bookmaker.
  • Check the commission percentage charged by betting exchange sites before selecting one.
  • Before you lay a bet, check how much you could stand to lose from it using a lay bet calculator.
  • Bet on the more straightforward markets with a betting exchange; set aside the other relatively difficult ones for when you play with a traditional betting site.

Author: info

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