If you’re bored of normal sports betting, then betting exchange sites in India might give you the extra excitement you’re searching. At an odds exchange, the market is in charge. Players play against each other, and the odds are therefore set accordingly.
So far, this is a less common type of betting, often reserved for experienced bettors. However, it’s more straightforward than it might sound, so let us take you on the road to betting exchanges in India.
What is Betting Exchanges in India?
Exchanges are also known as odds or betting exchanges. It comes from the similarity to the stock exchange, where traders buy and sell shares among themselves at online betting sites in India. In recent years, betting exchanges have seen a resurgence. Experts believe that betting exchanges are the way of the future, as the profits will be greater for both players and gaming companies, or so the general opinion goes. Exchanges mean that you play against other players, with the sportsbook acting only as a moderator.
Contrary to popular belief, playing on exchanges is easy, with many benefits. In addition to playing odds according to the traditional principle, you also have the opportunity to offer odds to other players. The betting site simply helps you to broker them.
You need to learn the difference between “back bet” and “lay bet” to succeed. It is about a positive versus negative outcome; that is, the scenario will or will not happen. Thanks to high odds, players have found exchange betting sites in India to be the saving grace. However, bookmakers take a 5% commission for winning bets, which you must keep in mind when playing exchange betting. You can normally see how much money is left on the coupon after the bookmaker has taken its cut, so you rarely need to find your calculator.
Back or Lay Bets
You often find two types of bets on a betting exchange website that are not found on ordinary bookies. You can:
- Lay a bet - You believe the bet in question will not occur.
- Back a bet - You believe the bet in question will occur.
Compared to ordinary betting, you get the option to bet on the losing team, aka the other team will not win. So, if the match is tied, you will still win a lay bet since the opponent did not win.
Betting Exchange Sites in India
More and more Indian punters are looking for the best exchange betting sites in India instead of the regular sites for sports betting. The selection of betting exchange sites are still on the lower side, but more bookies are expected to allow this form of betting in the future. Since the betting sites don’t place the odds themselves but instead earn a commission on winning bets, they pose virtually no risk.
One of the best exchange betting sites today, in our opinion, is 1xbet. With a user-friendly platform and payment methods including Paytm, UPI and PhonePe, their site is tailored to Indian players.
If you find the betting exchange too complicated, you can place bets in their sportsbook section – the good ol’ fashioned way. However, keep in mind that betting exchange is not as complicated as it may seem. Anyone who takes the time to learn the betting exchange will not need many hours to book or lay bets without problems.
If you have a background in mathematics, you will have the edge over your competitors, but you certainly don’t need to be Einstein to succeed. You need to be very patient – never get carried away, but work methodically and plan ahead. The best way to learn betting exchange is to explore the market with a limited amount of money. By doing so, you will gain experience and knowledge that will be of great use in your future gambling.
Pro & Cons of Betting Exchange Sites
Pros
- Possibility of higher odds
- Be your own bookmaker
- No limits
- Use your knowledge to your advantage
- Easier for arbitrage betting
Cons
- Commission on winnings
- It may be difficult to match bets on small markets
There are both advantages and disadvantages to betting on betting exchanges. The primary benefits of odds exchanges are, on the one hand, the possibility of higher odds. You play against other players and not the betting site itself, which gives you more flexibility and, over time, higher odds. The fact that you get to be your own bookmaker is also a plus. Add to that the fact that you avoid the risk of being limited. The risk of being limited is a huge problem for many good players on betting sites who want to continue to make money in the long term.
The disadvantages are fewer than the advantages, but it is important to consider that some disadvantages should by no means be ignored when playing at betting exchanges. First and foremost is the fact that sportsbooks charge a fee in the form of a commission. This commission swallows a few percent of the winnings. There may also be difficulties in matching bets on smaller markets when playing on odds exchanges.
Arbitrage Betting Exchange
Arbitrage betting India is betting on both outcomes to secure a profit regardless of the result. This is not allowed in regular betting sites and will likely get you blocked from the site. Therefore, players using this strategy need to use multiple betting sites when placing their bets.
And this is where betting exchanges really shine because betting exchange sites in India does not limit this. So, in a match between Mumbai Indians and Punjab Kings, you can take the bet with the best odds for Mumbai Indians and the one offering the best odds for Punjab Kings and be guaranteed a profit.
Betting Exchange India FAQ’s
Is it free to play at betting exchange sites?
No, there is an indirect cost to betting with sportsbooks. This is in the form of commission from winning players, usually a few percent of the winning amount. This is not really a big deal because betting sites that operate odds exchanges often have higher odds than regular sportsbooks.
Can I find better odds at a betting exchange site in India?
Yes, you normally find much better odds at betting exchange sites compared to those offered at regular betting sites. If you know what you’re doing and have a gut made for predictions, this form of betting will likely give you better profits.
Is betting exchanges legal in India?
Yes, betting exchange sites are just as legal as conventional betting sites. They still need a license to operate, accept Indian Rupees and have the same payment methods as other bookies. The only difference is that the odds is set by the players, not the bookie.
Arjun Jindal | Last Modified: August 4, 2022
