Best Betting Exchange Sites in India (July 2024)

Are you looking for the best betting exchange sites in India? Read our expert guide as we rate and review all legal betting exchanges in India to help you find the right exchange for you.

Written by Shivam Bhateja
Verified by BettingGuide team
Last updated 17/6/2024

Welcome Bonuses on The Best Betting Exchanges in India

India Legal in India
Tested & Approved by BettingGuide
Affiliate Disclosure
Fun88
Our score: 9/10
Fun88 review
Aviator Free Bet
222% Deposit Bonus Up to 15,000 INR
  • Unified Payments Interface (UPI)
  • Bitcoin
  • Google Pay
  • +
  • Accepts UPI (Netbanking), PhonePe, Google Pay and more!
  • Minimum Deposit Starts at ₹100
  • Top-tier Betting Apps for Android and iOS
Dafabet
Our score: 8/10
200% Bonus Up to ₹20,000
  • Unified Payments Interface (UPI)
  • AstroPay
  • Bitcoin
  • +
  • Fantastic Betting Apps for Android & iOS
  • Top-tier products for Sports, Casino, Poker and Lottery
  • Accepts UPI, Netbanking, Bitcoin, Skrill, Neteller, RuPay and more!

Best Betting Exchange Sites (Tested and Reviewed by Experts)

In India, a betting exchange gives you the opportunity to place bets not against the bookmaker but against other sports enthusiasts. 

As a result, the best betting exchanges can provide higher odds than most traditional online betting sites.

None of the sites below are dedicated betting exchange sites, but they offer betting exchanges as well as their normal fixed odds product, casino games and more.

  1. 1
    Fun88:

    Best Betting Exchange in India Powered by Betfair!

  2. 2
    Dafabet:

    Free live streaming on the betting exchange.

Fun88

Fun88 Betting Exchange

One of the best betting exchange websites — Fun88, is a great Indian platform with exciting sports betting options, such as cricket, football, tennis, horses, greyhounds, volleyball and more.

You can bet in-play and pre-match using three different betting exchange options called Lotus Exchange, 9Wickets Exchange and the Fun88 Exchange, but the best is their main exchange (Fun88 Exchange) which is powered by Betfair.

The license for this operator comes from E Gambling, Montenegro. It provides lay and return bets and charges a 4% commission fee on wins, just like other exchanges. Losing bets are not subject to any commission charges. Fun88 is unique because of its colourful UI and easy-to-use navigation, which guarantee a smooth betting experience. 

The Fun88 exchange also has the most liquidity we have seen when reviewing Indian betting exchanges. Of course, this is key, as without it, you will find it hard to match bets, especially if you plan to place larger wagers. For example, there was over 300,496 INR on the lay side for the IPL match between RR and DC, and over 200,000 INR on the back side.

The operator provides widely used payment methods, including net banking, bank transfers, UPI, bank cards, and digital payment platforms like ecoPayz and SticPay. Additionally, the Fun88 app is available for iOS and Android users.

Fun88 betting exchange

Pros

  • Best betting exchange in India for 2024.
  • The most liquidity and active players that we saw in our tests.
  • Live and pre-match exchange betting is available.
  • Fast Indian payment methods like UPI, PayTM, PhonePe and more.
  • Easy-to-use design and exchange powered by Betfair (easily the best in the world).

Cons

  • Could be more sports available.
Dafabet

Dafabet Exchange

Dafabet has another great betting exchange offering markets for cricket, football, basketball, tennis and table tennis. The selection should be enough for most players from India, but it could benefit from adding more sports and events.

Still, you will find a massive range of cricket betting events and good liquidity with ₹467,025 currently available on both the back and lay win markets for the RR vs DC IPL match. You can also see how much money has been matched in each event, with a solid ₹37,427 matched on the RCB vs KKR IPL match at the time of this review.

There is also a solid range of betting markets, including betting on the 1st innings, and which team will win the coin toss, which you can get at 1.96 or 2.06. Much higher than the fixed odds offered by traditional bookmakers in India.

Dafabet even offers free live streaming on select events, but this is also available on their fixed odds sportsbook.

Overall, Dafabet is a close second, and we recommend having an account on Fun88 and Dafabet to cover all your betting exchange needs.

Dafabet betting exchange

Pros

  • Great range of sports and events on the Dafabet exchange.
  • Large liquidity to ensure your bets are matched.
  • Free live streaming in the Exchange.
  • Amazing mobile app and site.
  • Fast withdrawals with Bitcoin, PayTM and UPI.

Cons

  • No mention of the exchange commission on their site.

Indian Betting Exchanges to Avoid

In our research, we found several popular Indian betting exchanges that are illegal and potentially scams. A few claim to have valid Curacao EGaming licences, but a quick check on the licensee register shows they are unlicensed and operating illegally.

We recommend avoiding the brands below:

  • Crickex - They claim to have a valid Curacao gambling licence, but we checked the official register, and their sites come up as unlicensed. Licensed operators need to show their licence badge and a link to their licence. But, it is not available on Crickex, making it illegal for players from India. The site looks legitimate, but without a valid gambling licence, they are operating illegally. This also means there are no third-party checks, and they can do whatever they want with the sensitive data you give them. Do not join!
  • Indibet Exchange - Indibet is a brand we have reviewed before and they did have a valid Curacao gambling licence. But, a few months ago they removed the link to their licence and no longer mention it anywhere on the site. We now suspect Indibet is operating illegally and no longer recommend joining.

Best Betting Exchange Apps

A few bookies provide their own apps for betting exchanges. From our perspective, the best exchange betting apps are Fun88, and Dafabet.

Given their dependability, attractive layout, variety of markets, and competitive odds, we give these betting exchange apps a very high rating. These applications offer a large selection of betting tools and many betting alternatives in addition to their comprehensive sports coverage.

What Are Betting Exchanges?

Instead of a bookmaker, which offers a price on a range of markets, users bet against each other on a betting exchange.

Sites such as Fun88 and Dafabet allow people to both bet on an event happening - and against it happening. This means there is a lot more flexibility in using betting exchanges compared to bookmakers. A good comparison is to think of betting exchanges in a similar way to internet auction sites. 

On websites such as eBay, buyers and sellers are matched up for a range of types of products. 

At a betting exchange, bettors are matched up in a similar way. Due to the lack of overheads associated with bookmakers, betting exchanges tend to offer better value to their customers.

How Do Betting Exchanges Work?

As we have touched on, betting exchanges allow sports fans to bet against each other. This is through a process called backing and laying, which we will come on to a bit later.

At a standard bookmaker, they set the odds of a certain event happening. It is then up to the player to decide whether or not they want to take that price.

But at a betting exchange, the process does not involve a bookmaker. Instead, players set the price, and other users can make up their minds whether or not it represents good value.

Betting exchanges then take a cut - known as a commission - of each winning wager. This is how they make their money. The commission is still usually less than a bookmaker's margin.

After placing a bet on the betting exchange, it is also possible to effectively cash out by using the laying mechanism on such sites. So what does backing and laying actually mean?

Backing and Laying at Betting Exchanges

Using betting exchanges involves understanding two key terms: backing and laying.

A back bet is to gamble on an event happening. For example, betting on Rajasthan Royals to win a game in the IPL would be a back bet.

But if you did not think RR were going to win, you could opt to place a lay bet. This means the wager is a winner if the result is either a draw or an RR loss.

To place a back bet on a betting exchange, another user must have agreed to lay the bet. This is how the betting exchange works in practice.

Some markets will have a lot more money in them than others. This makes it easier to place a back bet. On markets without a lot of interest, the matching process might take more time.

Users may opt to use a betting exchange to lock in profit from a back bet at a bookmaker. By laying the same outcome, it would be possible to guarantee winning cash whatever happens. Backing and laying bets on a betting exchange is also sometimes referred to as trading.

Commission at Betting Exchanges

Betting exchanges cannot profit in the same way as bookmakers, so commission is what they use in order to make sure they can bank some cash.

Commission levels differ by a significant margin across the various betting exchanges that are available to use on the Internet.

The commission is a cut of each winning wager and is usually set somewhere between zero and five per cent. Sometimes, power users of betting exchanges may need to pay a slightly higher commission level as a result of the number of bets they are placing on the platform.

There is no way to get out of paying the commission, with players simply needing to treat this figure as if it is the equivalent of the betting margin that traditional bookmakers retain.

Betting Exchange FAQs

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