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What is a Betting Exchange?
The concept of Betting Exchange eliminates the need for bookmakers. It enables punters to create their own odds and markets and thus increases the chances of winning.
Betting exchange puts the users in focus. It is a market where users can decide their bets and act as bookmakers themselves. This means that punters have the freedom to raise the stakes and also offer odds to someone else, with room for discussion. In simple words, the punters can set odds and bet against each other.
Betting Exchange also allows punters to bet on the outcome of discrete or specific events. Punters also sometimes trade their bets in real-time during an event, to lock in their profits or cut losses. There are, however, very few sportsbooks that offer to trade bets.
Features of a Betting Exchange
Back betting
Back Betting refers to being in favour of a certain and specific outcome only. For example, if a person bets on India winning a cricket match against England, they will win the bet only if India beats England. They will stand nothing to lose should England beat India.
Lay betting
Lay Betting is the exact opposite of Back Betting. When the punter places a bet for the outcome to not occur or the opposite outcome, it is known as Lay betting. For example, if a punter bets that India will not defeat England, they will only win the bet if England wins or the match ends in a draw. In simple words, Lay Betting means betting on something/someone to lose.
In-play betting
As the name suggests, In-play betting refers to bets made in real-time or in-play. These bets can happen when a match or event is in progress. In-play betting takes place in popular sports like cricket, football, basketball, tennis, and others, that are televised worldwide.
Advantages of a Betting Exchange
Reasonable odds
The odds offered in a Betting Exchange are relatively better than odds given by bookmakers. This happens frequently with longshot bets, which are given better odds. For example: In a UCL Final between Bayern Munich against Arsenal, the odds for Arsenal will be higher and lower for Bayern. On the contrary, sportsbooks provide odds that reduce the risk of losing money. Hence, it is better to place odds at betting exchanges as they offer good deals. However, a small commission is taken from the winning bet.
Guaranteed profits
In a betting exchange, one can book profits before an event begins. For example, one bets on Manchester United to beat Liverpool at 2.5 odds. However, before the start of the match, if they find out that the top three players are ruled out of the game, the odds could rise significantly and you can lay off the bet at 5. This way, you can turn your losses into a win.
No penalty for winning
In sports betting, it is very common for bookmakers to ban successful bettors. There are many occasions where punters have been banned due to betting on multiple or all possible outcomes frequently. However, in a betting exchange, there are no such restrictions and punters can be on any or all outcomes of a certain event without the fear of getting banned.
Betting Exchanges FAQs
Betting exchanges that accept Indian Rupees and which are based outside of India are legalfor Indian players.
The main source for betting exchanges to make money is by taking a small commission on winnings. The exact amount varies between exchanges, but it is generally between two and five per cent.
A bookmaker is traditionally the first place a potential punter seeks to bet. Often a person or an organisation, a bookmaker accepts and pays off bets - from their own money - on sporting and other events based on the odds they provide.
On the other hand, a betting exchange is a free market where users can decide their bets and act as bookmakers themselves.
If you are unwilling to take the available odds for a selection in a Betting Exchange market, you can request better odds. You may feel that the odds for a selection will drift and so offer longer odds in anticipation of the price movement. If you are realistic about the odds that you request, your bet may stand a very good chance of being matched.
Betting Sites Review
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Sportsadda.io is a well-known online betting website in India. It is one of India's most popular online cricket betting platforms. This betting website not only offers a simple real-time betting platform, but it also allows users to gamble on casinos, football, horse racing, tennis, and cricket.
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Parimatch is a reliable and user-friendly sports betting brand in India. The bookmaker is licensed and regulated by the Curacao eGaming Authority under the Government of Curacao. Having begun operations in 1994, Parimatch only recently entered the Indian market.
The bookmaker offers multiple betting options, including live casino, sports betting and virtual games. Parimatch allows bettors to bet on popular sports like cricket and football and access various global leagues. A wide range of bet markets such as 1x2, Asian handicap and over/under leave the punters spoilt for choice
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Fun88 entered the Indian market with a comprehensive sportsbook. Cricket, football, basketball, tennis and table tennis are some of the sports on its roster.
For users in India, the bookmaker offers a great selection, especially in cricket betting. Fun88 also has multiple casinos with local titles, card games and arcade games for its consumers.
The company has provided sponsorship to global sporting clubs and leagues. The Caribbean Premier League (CPL), Newcastle United and Tottenham Hotspur are partnered with the bookmaker. West Indies T20 World Cup-winning captain Daren Sammy is the brand ambassador for Fun88. The brand visibility in the global sporting ecosystem makes it the trustworthy betting site.
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Owned by Medium Rare N.V. and established in 2017, stake.com is one of the most popular crypto sportsbooks in the world and enables you to place various types of bets on multiple sports.
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A relatively new bookmaker, Megapari was established in 2019 and it comes with a Eastern European background and a Curacao license. The players can register easily via email, phone verification or social media. Megapari is known to provide competitive odds alongwith 300+ extra bets on top events, live streaming and near-instant withdrawals. Megapari has a mobile app for Android and iOS.
The site offers bets on cricket, football, ice hockey, biathlon, baseball, boxing, table tennis, snooker, cycling, water polo and many other sports encompassing all major events.
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Parimatch is a reliable and user-friendly sports betting brand in India. The bookmaker is licensed and regulated by the Curacao eGaming Authority under the Government of Curacao. Having begun operations in 1994, Parimatch only recently entered the Indian market.
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22Bet is one of the fastest growing players in the Indian betting market. Ever since the establishment in 2017, 22Bet have spread their reach not only in India but to corners of the world, making betting accessible to punters who are passionate about sports betting. 22Bet accepts a variety of currencies and has almost a hundred payment methods available all around the world.
The bookmaker allows sports bettors to choose from over 1,000 sporting events every day. The 22Bet website is simple, clean and easy to navigate and caters to the customers’ needs with care and dedication. 22Bet is also available as mobile phone apps in both the Android and iOS versions.
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4Rabet is one of the most popular sports betting sites in India. It offers betting services on a number of sports like cricket, football, ice hockey, basketball and tennis to name a few. Established in 2018, 4Rabet is a relatively new bookmaker in the betting industry, offering sportsbooks and casino games. It is also amongst a few bookmakers offering betting on esports.
4Rabet is available in Hindi version too and accepts currency in Indian rupees. It is also available in four other languages - Portuguese, Turkish, Indonesian and Uzbek. 4Rabet has an app available for Android and iOS users while also having a desktop app version of its own.
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Established in 2009 with its headquarters in Cyprus, Mostbet is a highly reputed betting company that allows you to make all kinds of bets in various different types of sports, including esports.
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Betadda is a sportsbook that offers a wide variety of markets, including virtual sports, and live events to choose from. It boasts of a live casino and slots, weekly promotions, and ultra-fast crypto wagering and withdrawal facilities. Betadda caters to more than 30 sports and over 300 video slots, tables, and live dealer games consisting of free spins, jackpot prizes, and bonus rounds. The sports betting site is crypto-compatible.
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