Finding a top-rated betting exchange site is not an arduous task anymore. This blog covers a plethora of betting exchange sites that offer all that you may need for an exciting experience.
Playing at one of the best cricket exchange sites can guarantee lucrative promotions, low wagering requirements, and rewarding cricket betting markets.
Before you begin playing at any betting exchange, it would be best to understand more about the Betting exchange.
What is a Betting Exchange?
A place that allows players to exchange bets with other players is a Betting Exchange. Unlike a traditional sportsbook, players can directly place their bets against each other and set odds themselves.
At such exchange betting sites, you don’t have to bet against the bookmaker like at a regular sports betting site, instead, you can also place your bets against other players.
Unlike a conventional sportsbook, betting sites don’t make much money upon your losing bets. Instead, they earn commissions by facilitating bets between players. This model offers a fair and transparent winning opportunity to all players with no limits.
Best Betting Exchange Sites 2023
How Does a Betting Exchange Work?
Exchange betting involves betting against other players and not against the bookie. This means that your betting odds are likely to be more than those of any standard bookmaker.
Akin to how you stake money at a stock exchange, at a betting exchange, your bets are placed either on a positive or negative result against that of other punters.
Difference Between Bookmakers and a Betting Exchange
- Fixed vs Competitive Odds
In a sportsbook, you are betting on the fixed odds provided by a bookmaker and you also need to pay some hidden commission to the bookmaker.
On the other hand, a betting exchange is just a peer-to-peer platform that brings together two players against each other. As the market is open and works on a demand-and-supply approach, the odds offered are more competitive as compared to a traditional sportsbook. Thus, there is always a chance of bigger returns in a bet in exchange after eliminating the middleman.
- Placing Bets
One of the main differences between these two platforms is that unlike a bookmaker an exchange allows you to lay bets while you can only place winning bets at a normal betting site. Placing a lay bet allows you to take other players’ bets on an outcome, effectively betting against that outcome for yourself. Suppose you lay a bet on CSK, you are betting against their win and effectively betting on a draw or the other side winning.
- Wagering Limits
A bookmaker is restricted by maximum bets whereas there is no limit in a betting exchange. Most successful punters at a sportsbook often see their accounts limited to very small bets whereas a betting exchange will never limit their players no matter how big or successful their bets are.
Are there any Downsides to a Betting Exchange?
Even though Betting Exchanges have been there for almost 20 years, many bettors still prefer traditional online sportsbooks to place their bets. Here are a few factors that provide them an extra edge over a betting exchange:
- Simpler to use
At a betting site, it is easier to place bets because you can see the odds the bookie is quoting. In contrast, at a bet in exchange, you need liquidity in order to be able to place your bets. This means you need an exchange user prepared to lay the wager you want to place and, particularly on less popular markets, this can sometimes be a problem.
- Fewer Bonus and Promotions
Generally, you would find more free bets, offers, and sports bonuses at a bookmaker as compared to an exchange. Although some competitive betting exchanges are willing to provide some promotional offers to new players still a majority of the platforms fail to do so.
Reasons to Use a Betting Exchange
If you are contemplating choosing a bookmaker or a betting exchange site for staking, here are reasons why choosing the latter could make a profitable option.
- First, you are likely to enjoy the benefits of better odds at a bet in exchange
- Secondly, playing at the best cricket exchange is more rewarding as you can explore the opportunities to make more profits.
- And yes, you can’t deny the advantage of having more fun when exchange betting.
How to Use a Betting Exchange?
You can check out the list featuring the best cricket exchange sites in India to make a comprehensive decision on which site to use. If you are new to a betting exchange, here’s how to go about it.
Join a top-rated betting exchange
Once you have decided that a betting exchange suits your betting preferences, the next step would be to open an account with the site.
Betting exchange refers to signing up at the site to create a new account with your details. The process can be completed within a few minutes and all you will need to do is simply enter all the required personal details while signing up.
Make sure to share authentic details as your identity will be confirmed at a later stage.
Depositing money at a betting exchange site
Depositing money at a betting exchange is no longer challenging for Indian players; thanks to the myriad of safe and secure payment methods such as UPI, Bank Transfer, PhonePe, PayTM, and many other reliable transaction methods.
If you are looking for smooth and convenient payment methods at an exchange betting site, you can be assured that all betting exchanges open to Indian players accept UPI payments that make the process of both deposit and withdrawal easy and swift.
Claiming your Welcome Bonus at a betting exchange
All betting exchanges listed on our site offer some other form of bonus. Every new player can collect his/her welcome bonus as it is awarded after the initial deposit is made at the betting exchange. Once you’ve made up your mind to stake on your favorite sport through a betting exchange, you can look forward to more lucrative betting opportunities.
What are the Types of Bets at a Betting Exchange?
You can choose from a variety of bets available at the betting exchange. From a straightforward bet to ones that call for slightly higher risks, you can select a bet that befits your preference.
A back bet is a traditional sports bet where you place a bet in exchange for an outcome to happen. Suppose you place a bet on Liverpool winning the match against Manchester United, you will win the bet only if Liverpool defeats Manchester United.
If you are looking for a simple and upfront bet type, the win bet can make a good choice. Also, offered by all sports betting sites, the win bet offers opportunities of landing higher odds with this type of bet.
A straightforward bet type, it allows players to put money on a specific selection and expect a return from the bet. For instance, if you are betting on one of the top-rated cricket tournaments such as The Ashes through one of the best cricket betting exchanges, you are likely to back either Australia or England to win the trophy.
Unlike a bookmaker that only allows you to place winning bets, an exchange betting niche opens lay bet options to its players.
With lay bets, you have the option to back a specific outcome of a certain match that is not likely to happen. This allows you to essentially take on the role of a bookmaker.
Riskier than a winning bet, a ley bet requires players to wager against the interest of their fellow bettors.
Just in case, a player doesn’t get it right, the scope of losing is more, especially if the outcome that the player chooses to bet against works out.
A player is often advised to use a lay bet calculator to avoid such problems. This can help you calculate the risk and make relatively accurate bets when playing at a betting exchange.
As the name implies, in-play bets are made in real time after the game’s commencement. Also known as live betting, it is usually done in more popular sports which are televised all over the world such as horse racing, football, and cricket.
In-play betting allows you to assess the match situation before staking your money as the odds may change depending on the circumstances of the game.
This is one of the most profitable features of a betting exchange which is not available in traditional sports betting. Here you can bet on both the outcomes of a particular event. For example, you can bet on Real Madrid winning and Real Madrid Losing.
Let’s say the Dodgers open +110 and you bet ₹1000 on them, then heavy action moves Dodgers to -115 and the Angels to +105. You can now bet on the Angels at +105 and guarantee either a ₹50 or ₹100 profit no matter who wins.
Tips And Tricks for Placing a Bet at a Betting Exchange Site
Whether you are a beginner trying your hands at a betting site for the first time or you have played at the best cricket betting exchange before, it is best to have a strategy in place. Here are a few tips that can come in handy when betting at exchange betting sites.
- Make sure that you compare the value of your bet with that of the back bet with a bookmaker before playing matched betting. This can prevent loss by minimizing discrepancies.
- Fixed odds may not be rewarding. Hence, it would be wise to ensure that you take your time to ensure that you get the optimum value from the odds when placing your bets on exchange betting sites.
- For players who want to place lay bets, it would be best to use a bet calculator before placing bets as this will prevent the player from losing more money in the future.
- As experts advise, you can check different betting exchanges to compare the commission rates charged by them or find out the bonus and promo offers for more profitable play. The rate of commission is inversely proportional to the profit you make. So, the more the commission the lesser your profit margin, and vice versa. Some betting exchanges also employ skilled tipsters for additional convenience.
- Betting at the best cricket betting exchange providers can give you more options including in-play and live-to-bet. Live betting opens opportunities where you can wager on updated odds. These odds are vulnerable and the changes depend much on the action of the particular chosen event. However, it’s not just exciting but also brings more opportunities with real-time action in play as it works as an authentic indicator of the actual action unfolding in the market.
An advantage of playing at the best in-play betting sites is that you can both hedge a stake as well as withdraw your profits early to close a bet if you think that things aren’t working out in your favor.
Deposit Methods at Betting Exchanges In India
Shortlisting one of the best international cricket betting sites in India comes with advantages. Most sites accept payments via all popular payment methods.
From paying with your Visa and MasterCard to making a deposit with e-wallets such as GooglePay or choosing Online Bank Transfer, top betting exchange providers ensure a score of payment options for the player’s convenience.
You can even use Cryptocurrencies to start betting at many betting exchanges. Here are the steps involved in the deposit process:
- Head to the official website of the Betting Exchange
- Sign up for a new account or log in to an existing one.
- Click on the Deposit button.
- Select your preferred payment method
- Enter the amount of the deposit.
- Fill in the payment details
- Complete the transaction.
- The amount will be reflected soon in your wallet.
Popular Tournaments for Online Cricket Betting
The betting exchange market is booming immensely in recent times and one of the main reasons behind this has been the ongoing non-stop leagues in world cricket. We recently witnessed arguably two biggest T20 tournaments, IPL and World T20 back to back which provided a golden opportunity for all punters around the world to make the most money out of it. Here are a few tournaments that you can opt-in to at a betting exchange to reap better profits.
|ICC World Cup||ODI||1975||England|
|ICC T20 World Cup||T20Is||2007||Australia|
|Indian Premier League||T20||2008||Chennai Super Kings|
|Big Bash League||T20||2011||Sydney Sixers|
|Vitality T20 Blast||T20||2003||Kent County Cricket Club|
|Caribbean Premier League||T20||2013||St Kitts & Nevis Patriots|
|Bangladesh Premier League||T20||2012||Rajshahi Royals|
|Pakistan Super League||T20||2015||Multan Sultans|
|Global T20 Canada||T20||2018||Winnipeg Hawks|
|Mzansi Super League||T20||2018||Paarl Rocks|
|Super Smash||T20||2005||Wellington Firebirds|
Betting exchanges provide an opportunity for anyone looking to make money by betting. However, that being said, betting exchanges are not suitable for everyone. You should first learn about them properly and then try your hands at them.
We have covered everything you need to know about betting exchanges in India. They are a godsend for anyone looking to take the sports betting world by storm. So, go ahead and have fun!