The online betting market in India has obviously taken off in the last few years, with more and more cricket fans who prefer to not only watch their favorite teams play but also like to wager on the results of the matches, based on their own knowledge and experience.
Fantasy gaming and cricket betting are the way to go for most players – with specific betting sites and gaming apps that players prefer over others. However, recently, a few betting exchange sites have entered the Indian betting market.
What are betting exchanges, you ask? Betting exchanges were first introduced by the international brand Betfair, which allowed players to bet against each other, instead of against the bookmaker. What that means is that each player either backs or lays a bet, and if they lose their stake, another player wins. In this case, the bookmakers make money by charging a small convenience fee for every bet and do not make any money when a player loses.
Betting exchanges are super popular in more mature gambling markets such as the UK, but slowly and steadily, the Indian betting industry has also been exposed to the idea of a betting exchange.
So how does a betting exchange work exactly?
An exchange has two types of bets for each betting market. That means that one player backs a bet and the other player lays that bet. So in order to bet on an outcome in an exchange, there need to be at least two players – one betting on the outcome to happen, and the other betting against that outcome to happen.
For example, if a player is betting on Chennai Super Kings to win the IPL, then another player should be betting on the Chennai Super Kings to not win the IPL. Betting exchanges became so popular because players are able to make more creative bets. Let’s say a player does not know who will win the match, but they do know who won’t, so they can easily make that bet through an exchange!
What are some of the betting sites that feature an exchange?
According to this guide to betting exchange sites in India, there is a handful of betting sites that have this unique feature in their sportsbook. However, the popularity of these sites has gone up thanks to Indian bettors becoming more aware of exchanges.
Exchanges are considered to be one of the best ways to enjoy cricket betting and give players the chance to play with fluctuating odds, as well as enjoy betting against other players. Some brands such as Dafabet, Fun88, and Crickex have gained popularity for featuring exchanges. We hope that more betting brands will also add the possibility of exchanges to further add some spice to the Indian betting market.