About Betbarter Exchange
Betbarter is a widely-used platform among bettors worldwide, especially from India. It offers a lot of gambling as well as betting options.
Below you can see some critical characteristics of the portal.
|Year of establishment||2017|
|License||365/JAZ By Curacao Gambling Committee|
|Supported languages||English, Hindi|
|Supported currency||Fiat and digital money|
|Gaming options||Casino games, sports events|
|Customer support||Email, phone, live chat|
|Owner||Sky Infotech N.V.|
Though you can join hundreds of slots (including progressive jackpots) and tens of table games, most of the platform’s users are bettors.
What is a Betting Exchange?
The betting exchange is a special option of some online platforms where you can bet on a certain outcome of a sports event. The exchange is similar to bookmakers; however, in this case, you can play directly with other users of the platform and not with the bookmaker.
Using the exchange, bettors can buy and sell the result, as well as trade throughout the game. Users can also offer or request odds from other bettors. As a rule, this is done in order to cut off their losses or to fix profits. In this case, the main source of income for the platforms is a small fee for winning bets. The main advantage of this type of activity is that the exchange does not take risks, unlike traditional bookmakers who deal directly with bettors in the market. Although betting exchanges are not as popular as traditional bookmakers, they have become an integral part of the global gambling business due to their simplicity, transparency, and intuitive experience.
How Does It Work?
If you are a beginner, you should first go to the platform’s knowledge base to learn how the betting exchange works or contact the customer support service directly. The fact is that if you have not tried this option before, then it may be complicated to understand from the start. At the same time, once you become familiar with the basic principles of the betting exchange, you have more opportunities to trade and take benefit from increased odds. This can be by improving the odds or fixing profits until the result of the match is clear. Thus, the betting exchange is a platform that unites all bettors and provides them with expanded opportunities to bet. Unlike a bookmaker, which only provides a selection of odds, a betting exchange offers users direct contact with each other to create their own markets.
For example, you follow one of the cricket teams and think that in the near future, it will move forward on the leaderboard based on the official news from the team. In this case, you can send a request and fix a higher price than the one that is already available. Another user may consider your guess wrong and try to beat it with an even larger bet. The situation when users can both back and lay on the outcome is an advantage of bet exchange compared to a standard bookmaker. In this case, you can act as both a player and a bookmaker.
Why Use an Exchange?
And the main advantage and reason for using exchanges are extended betting capabilities. The fact is that you can use bets “for” and “against”. In the first case, you bet on a specific outcome. For example, you make a prediction that Liverpool will beat Real Madrid. In this case, you win if your guess is correct. As for the Betbarter com platform, in order to make this type of bet, you need to select the odds on the split field. The system automatically selects the odds that are in the field at the time of placing the bet. For example, you back Liverpool with odds of 1.31 and a betting volume of 20 rupees.
After you confirm the bet, the system equalizes it. If Liverpool wins, you get Rs 6.20 from your opponent on the exchange. In addition, you get 20 rupees back to your main account. If your team loses or draws, you will lose 20 rupees to your opponent. The system also allows you to select higher odds. To do this, you need to make an appropriate request and adjust them to your needs. In this case, sometimes you should wait for a while until the exchange selects a suitable counterparty for you. If the exchange cannot find a suitable opponent, then the request is canceled, and 20 rupees will be returned to your account.
In the case of an “against” bet, you predict that a certain team will not beat the opponent. Here the process is similar to the previous option. The only difference is that you choose coefficients from another field. The system automatically selects the available odds, and you can also raise your bet by making a request.
Scroll down to learn more about the main pros and cons of the betting exchange.
Pros of Betting Exchanges
Like all online platforms, betting exchanges have their strong and weak sides. In this section, you can learn more about the main pros of using online betting exchanges.
The betting exchange offers you a wider range of odds compared to, for example, a bookmaker. In this case, you are not limited to the offered odds, which can be downright unfair. Instead, the betting exchange has competitive odds that increase your chances of winning. It becomes possible because it is an intermediary platform.
Due to the fact that on the stock exchange you can place a bet both “for” and “against”, there is an opportunity to trade out. In other words, you can bet on a result that is opposite to the one already placed. In this way, you reinsure yourself to guarantee profits and reduce risk. For convenience, the Betbarter platform has an automatic exchange option that will do everything for you.
No Account Limit
This is another important difference and advantage of exchanges over regular bookmakers. In this case, you are not bound by betting limits, and the amount you decide to bet is determined solely by liquidity. Liquidity is a certain amount of funds that are available for betting on the market.
Unlike bookmakers, betting exchanges have no interest in you losing. As a result, you will never be banned on the portals, even if you consistently succeed and win.
On betting exchanges, there is a small commission that the system charges in case of a successful outcome. This is the main source of income from peer-to-peer betting. If the bettor does not win, then the exchange does not charge any interest. Moreover, bookmakers and betting exchanges do not use a fixed margin in the odds.
Cons of Betting Exchanges
Along with extended capabilities and advantages, there are several drawbacks to using the betting exchanges. Read more in the sections below.
Difficulties in Matching Rates
As a rule, online betting markets are not as liquid as bookmakers. As a result, this leads to difficulties in matching rates. For example, if you are interested in darts, then it is more difficult for you to find an opponent on the exchange due to the small number of people interested in this sport. Even if the system finds an opponent, it is not a fact that the coefficient you offer can suit them for sure.
The Number of Available Bonuses
Unlike traditional bookmakers, online exchanges do not offer welcome bonuses for newbies, deposit bonuses for regular users, cashback, tournaments, etc. This is s serious drawback in terms of attracting new clients and keeping a high level of regular user engagement.
A Small Selection of Betting Exchanges
Since this type of betting is not so popular, you can not find a large number of portals that offer such services on the Internet. This is the reason for the dominance of traditional bookmakers in the betting market. At the same time, there is a tendency for portals to combine the capabilities of a standard bookmaker and online exchange betting. Betbarter is an example of this tendency.
Despite that fixed matches can also take place on traditional betting portals, their percentage is higher on online betting exchanges. This is the flip side of greater liberalization of the betting process and a greater range of bets. The player may offer high odds in order to attract other users on the exchange, and then pay the player less than they could earn in the corresponding game. All this leads to dishonest play and unfair losses.
The best way to learn about exchange rules is to visit the specific platform you are interested in. However, there are several basic peculiarities you should know.
How Exchanges Manage Markets in-Play
Please note that most exchanges do not accept bets after the end of the event activity (or after a certain time of the end of the game). If the game does not have a specific time limit (as in cricket, for example), then the system will try to set the time for the actual “off”. This time is calculated based on several parameters, such as the type of game.
Each platform has a set of rules according to which the market is calculated. If the rules do not specify whether the market will be settled and how, then the system calculates based on the official result of the relevant governing body or on the basis of information from independent sources within 48 hours. Please note that players can always void bets according to their terms and conditions.
If an event is not ended three days after the scheduled completion date, then all bets on that event will be void. In the case of a tournament or competition, the decision will be made by the official governing body within 90 days of the scheduled end date of the event.
Speaking of any team sport, if the scheduled venue is changed after the exchange has cleared the market, then the system can void bets. This happens if the new location is the home ground of the original visiting team. As for other sports, the change of venue does not affect the bets in any way.
Betbarter Customer Support
The platform has a highly-qualified and professional customer support team. All available methods of contacting team experts are available 24/7. The most popular and effective method is a live chat option. To activate it, you should click on the fixed “Message” incon in the lower part of the main page. In the popped-up window, you should specify your contact details and the problem you face with. As a rule, you can get a response within a minute or oven faster. If you have additional materials like screenshots or text files that can help detail your problem, you can upload them as well.
Currently, this is the preferable way to resolve most technical or financial problems. Also, you can drop a message at [email protected] address. This is also a reliable way to fix problems, but you should wait for a response for about an hour or more. It may depend on the workload level of the customer support team. Another way to contact the support team directly is to dial the +919007173092 number.
If you prefer to resolve problems on your own, then you can visit the FAQ section of Betbarter’s website. There you can find exhaustive answers to the most common questions. For example, you can find out how to fix problems with logging in, placing deposits, withdrawing funds, claiming bonuses, and many more. If you go to the official Betbarter app, you can visit the “Tutorial”. This section contains video guides on various topics like how to use the exchange, how to transfer funds, etc.
Additionally, you can get an insight into main betting and gambling terms from the “Glossary” section. This part of the website is well-structured and contains information about three of the most popular sports on the portal: football, tennis, and cricket. Here you can find out what “Double chance’, “Highest Over”, “Inning”, etc mean.
All newcomers or regular users can also join Betbarter’s communities on popular social networks. The main advantage, in this case, is that you can follow the platform’s team.
Does the Betbarter allow you to use cryptocurrency to place bets?
Yes, this option is available. Currently, you can use more than five different types of crypto money, like Bitcoin, Litecoin, Ethereum, etc. to get exhaustive information, you can go to the “Payment methods” section.
What types of games are available on Betbarter’s online exchange?
The set of games is almost the same as the regular sportsbook can offer. At the same time, there are a couple of additional options like “Fancy Cricket”. “Zero Commission Tennis”, “Premium Soccer”, etc. You can learn more on the “Exchange Rules” page of the official website.
Does the Betbarter check the possible match-fixing on the betting exchange?
Yes, the system monitors each deal for fraud. In case of violating the platform’s rules, Betbater’s team expert can annulate deals or even block the game account.
Can bettors learn about the online exchange on the platform?
Yes, if you visit the official website and proceed to the “Exchange Rules”, you can find extensive information about the way it operates. Additional info you can get from the “Glossary” and the “Tutorial” sections.
Does the platfrom offer promotions or bonuses while using a betting exchange?
Currently, you can not use this option. At the same time, there you can enjoy an extended list of sports types and odds. Also, in case of a successful deal, the platform charges a small fee compared to most competitors.