Full Insight Into How Betting Exchange Sites Works in India

August 27, 2024 by Staff

The sports gambling industry is one of the fastest-growing industries in India. Studies show the 2024 revenue from this sector would hit US$1.97bn, evidence of a highly active betting market. Most punters in this nation know about conventional sports punting, but very few know about punting trading.

With punting trading platforms, punters can enjoy wagering from another dimension entirely. Locals will experience markets, odds and gambling patterns that increase excitement in their gambling adventure. We understand locals may be new to this wagering. In this post, we'll explain punting trading in India and all you need to know about it.

What You Need to Know About Betting Exchange Sites in India

What is a Betting Exchange? How Does it Work?

A betting exchange is a platform where punters meet to bet against each other. Unlike conventional bookmakers, where your wager is against the platform, betting exchange sites in India allow bettors to back and lay bets against one another. This implies all liabilities are on bettors while the betting site is only a meeting site for the two parties.

For instance, when you win in a conventional punting, the bookie bears the loss, while a loss on your path is a gain to the platform. Conversely, on exchange gambling, the bookmaker bears no loss at all. Instead, they gain commissions on all wagers staked on the platform. The losing punter bears the loss in this type of wagering.

How does Cricket Betting Exchange Work?

Aside from the introduction of bets "backing" and "laying", exchange betting is similar to traditional punting to some extent. What you bet on in a regular bookie is called "backing", and exchange betting now allows staking against that same market, called "laying". In this way, punters are betting against themselves. 

For instance, in a cricket trading exchange event between Kolkata Knight Riders (KKR) Vs Mumbai Indians, Chennai Super Kings, when you bet on Riders to win, that's backing. You can bet on Riders NOT to win; that is laying. In summary, each market has two options, one for backing and the other for laying. 

For you to place a successful wager here, your bet must be matched by another player. "Matching" implies another player agrees to foot the liability caused by your wins. Similarly, if you lose, your stake goes to the bettor that matches your wager. What, then, is the role of gambling exchange sites in India? 

The platform's responsibility is to provide a meeting place for punters. They are responsible for assigning odds and creating necessary markets. To make a profit, they charge a commission on all bets placed on their platform, guaranteeing an inflow of revenue regardless of the bet outcome. One of the advantages of punting here is that you have the freedom to wager on your preferred option.

Differences Between Regular Bookmakers and Betting Exchange

To simplify your understanding of the entire concept of wager trading, we want to show you how it differs from regular gaming sites in India.

The following table shows some of the differences:

Sportsbook	Betting Exchange
Wagers liability on the bookmaker	Bet liability on another punter
You can only back (bet on) an option to happen	Aside from backing, you can also lay (bet against) an option.
Hired analysts calculate the odds	Odds are determined by the activities of punters
Bookmakers gain from odd margins	Earnings come from commissions charged on wagers
Your wager is accepted immediately after you place it	Another player must match your bet to complete your wager

Top Cricket Trading Sites in India

Now that you understand how trading wager works, we believe you might want to try it. If our guess is right, we would love to introduce you to some top platforms offering this service in India. Our team took its time to examine them to ensure they suited Indian punters. They include:

• Fun88
• Dafabet

Fun88

This platform is one of the top operators offering wagering exchanges to Indian punters. You can enjoy cricket trading services here, allowing you to lay and back markets on your favorite match. Other available sports on the site include football, basketball, hockey and tennis.

Licensed by eGambling Montenegro under license number 0133, Betfair powers Fun88, and it has a solid security system. While it charges a 4% commission on win wagers, it does not charge you when you lose your bet. You can fund your account using numerous payment methods like bank cards, e-wallets, bank transfers, etc. The mobile application makes wagering here more comfortable for Indians.

Dafabet

Dafabet is another popular brand where you can enjoy top-tier IPL betting services. It holds UKGC and Curaçao licenses, making it safe for punters in this region. This platform allows you to switch between regular sportsbooks and exchange punting.

With wide sports coverage, you can enjoy excellent markets and top odds. You are also rewarded with diverse promotions when you join them and as you continue to use the platform. The numerous banking options support both fiat money and cryptocurrencies. Android and iOS users can also install the app on their devices for more convenience.

Conclusion

Punting trading brings more thrills to Indian gamblers as they tend to enjoy more markets. Punters in India have diverse options for trading cricket, football, and other sports, as we've mentioned in this post. Aside from the Fun88 and Dafabet discussed, other common platforms include Indibet and Crickex. Ensure you master how wagering works on these platforms before delving into exchange betting.