Fun88 Exchange India Review: Is It Legit? (2024)
Want to learn about the Fun88 Exchange? Read our in-depth review as we answer all your questions such as the legality of the exchange, what it is, how it works, and how to join and claim the welcome offer from India.
Is the Fun88 Exchange Legal in India?
The legal status of online gambling in India - including the use of the Fun88 exchange to place back and lay sports bets - is complex and can be confusing for sports fans to understand.
India's states are free to set their own rules and regulations regarding online betting. Some have introduced laws against the practice, while others have made it legal.
There are no federal laws against using the internet for sports betting in India at the present time, including using an exchange such as the Fun88 Exchange. Nobody has been prosecuted for betting online or using a betting exchange such as the Fun88 Exchange either. Of course, it is worth pointing out that governments can always choose to introduce new laws against it.Â
As such, while the Indian online betting laws are not quite as clear cut as the regulations in most countries around the world are, the Fun88 Exchange can be considered legal to use in India.
Fun88 Betting Exchange Welcome Bonus for India
Legal in India 
- Accepts UPI (Netbanking), PhonePe, Google Pay and more!
- Minimum Deposit Starts at ₹100
- Top-tier Betting Apps for Android and iOS
What is the Fun88 Betting Exchange?
Fun88 is one of the best-known online betting sites in India. Many sports fans in India already use the bookmaker to place bets on events such as the Indian Premier League.
But not everyone will be aware that Fun88 also offers another type of betting: an exchange. Betting exchanges allow people to place bets against each other, rather than against a bookie. Odds are therefore set by nothing more than demand, rather than by the bookmaker itself.
The Fun88 exchange is, therefore, a great option for sports fans who want to give themselves a chance to find the best possible odds for their chosen wagers. Fun88 is the official gaming partner of various major football clubs around the world, such as Premier League teams Newcastle United and Tottenham Hotspur, so it is a trusted and reliable brand to use for betting.
Something to keep in mind about the Fun88 exchange is that there are three options offered:
- Lotus Exchange.
- 9Wickets Exchange.
- Fun88 Exchange.
Each has pros and cons. But the "Fun88 Exchange" is powered by Betfair - the most famous online betting exchange in the world - and is the focus of this review. Along with Betfair being trustworthy, the Fun88 Exchange has odds on the largest number of sports betting events.
How to Use the Fun88 Exchange in India?
The key thing to learn about using a site such as the Fun88 Exchange is the fact users have the chance to lay bets, as well as to back them. Laying bets is essentially betting against an event happening, rather than betting on it to happen.
So cricket betting fans, for example, can place a back bet on a team they think will win a game. They could also lay a bet on a team that they are confident will not be the team to win. Backing and laying cricket bets are only possible on exchanges.
While using sites such as the Fun88 Exchange to lay bets can be profitable, there are risks to keep in mind. The losses involved in exchange bets can be substantial, so it is vital that people understand exactly what they are doing before they start to place these kinds of wagers online.
Liability is the key figure to look for when laying a bet on a site like the Fun88 Exchange. This figure shows how much it is possible to lose from a wager. For example, if you were to lay that horse on the exchange and it won the race, against your bet, the liability would be your bet's loss. This is different to placing a back bet, where any money lost is simply the stake's size.
So what do you need to do to place back bets and lay bets on the Fun88 Exchange in India?
How to Place Back and Lay Bets at the Fun88 Exchange
After registering for an account at the Fun88 Exchange and making a deposit at the cashier, users will be ready to start placing their first back and lay bets on the markets provided.
Back bets work in a similar way as on a standard online betting site in India. Users can browse the Fun88 Exchange for a bet they like the look of, add it to their betslip, set the stake size, and confirm the wager. The process is straightforward, but as the Fun88 Exchange looks a little different from most online bookmakers, it is worth explaining in detail how to place these bets.
Let's take the Twenty20 Cricket World Cup as an example of how to use a betting exchange. A match between India and Pakistan is taking place, and it is possible to bet live and in-play.
The sets of odds for backing and laying bets are shown in two different colours on the exchange. Back bets are in a shade of light blue, while the lay betting options are in pink.
On the Fun88 Exchange, the top number is the odds available, and the bottom number is the amount of money in the market. On desktop, the blue back bet closest to the middle of the screen has the highest available odds and, therefore, the largest potential profit on offer.
To place a bet on India to win the match, users of the Fun88 Exchange just need to tap or click on the price they want to take, in the light blue colour, then set their stake size and confirm. Back bets work just the same as placing a typical sports bet with a normal online bookie. This means that for every 100 INR being staked at odds of 1.33, a profit of 33 INR can be returned.Â
As we mentioned earlier, laying a bet on the Fun88 Exchange works in a slightly different way. The pink prices are the odds to lay a bet, which is to bet against an event happening. So, laying India, for this example, means placing a bet AGAINST the team winning that T20 match.
To place a lay bet against India, just tap or click on the nearest pink price to the middle of the screen. On mobile, only the best price for both back and lay bets is shown. This time, instead of the potential profit, the potential loss is shown. This is what is usually referred to as liability when sports fans talk about placing exchange bets.
For every 100 INR that is staked on a lay bet - a wager against India winning the match - the user is risking a loss of 33 INR at odds of 1.33. For lay bets, the stake is the potential profit. So, betting 100 INR on a lay bet against India would see a profit of 100 INR if India did not win.
Perhaps the key benefit of using a site like the Fun88 Exchange is the chance to lock in some guaranteed profit from bets. This is possible because the odds move on the exchange.
Of course, prices can change on a traditional sports betting site too, but the exchange tends to be a lot more fluid. While cashing out a normal sports bet with an online bookmaker can also lock in profit, the exchange provides another way to do this, by laying against a back bet.
How To Deposit and Withdraw on the Fun88 Exchange from India?
The Fun88 Exchange has a wide variety of deposit and withdrawal methods for players from India.
| Payment Method | Min limit | Max limit | Transaction Fee | Processing Time |
|---|---|---|---|---|
 Unified Payments Interface (UPI) | 100 INR | 100,000 INR | No fee | Instant |
 Paytm | 100 INR | 100,000 INR | No fee | Instant |
 PhonePe | 100 INR | 100,000 INR | No fee | Instant |
 Google Pay | 100 INR | 100,000 INR | No fee | Instant |
AstroPay | 200 INR | 200,000 INR | No fee | Instant |
Bitcoin | 20,000 INR | 100,000 INR | No fee | Instant |
VISA | 1,000 INR | 500,000 INR | No fee | Instant |
Mastercard | 1,000 INR | 500,000 INR | No fee | Instant |
Bank Transfer | 1,000 INR | 500,000 INR | No fee | Instant |
| Payment Method | Min limit | Max limit | Transaction Fee | Processing Time |
|---|---|---|---|---|
|
AstroPay | 200 INR | 200,000 INR | No fee | Within 10 minutes |
EcoPayz | 2,000 INR | 200,000 INR | No fee | Within 10 minutes |
|
Bank Transfer | 1,000 INR | 100,000 INR | No fee | Within 2 business days |
I am an avid reader and passionate writer. I have been working in the content writing industry for the past 10 years now and I have written hundreds of content pieces that cover the world of gambling. With a passion for all things related to casinos, sports betting, and online gaming, I bring a unique perspective and in-depth knowledge to my pieces. From strategy guides to reviews and analysis, my goal is to provide readers with the information they need to make informed decisions and enhance their experience. Let's win big together!