There are countless options for cricket betting through online sports bookies and offline operators but finding one in India is going to be a tall order. One of the primary concerns of the run-of-the-mill bookmakers is that they operate as an exclusive bookie, so that you have to be dependent on their odds and their wagering policies while gambling.
- out of 5
- Cash Out option in-play
- All major sports available
- Variety of casino games
Betfair is slightly different, in the sense that they operate both as a bookmaker, as well as a betting exchange, which evens out the playing field. We rarely come across such companies that also offer a reliable service, which is why this bookie comes highly recommended from both rookie and established punters worldwide. In this Betfair cricket review, we will touch upon all the aspects of cricket betting with Betfair, and what you should expect.
- Can I bet on cricket?
- What is exchange betting?
- What bonuses can I use?
- Can I bet on mobile?
- How to deposit?
- Who is regulating Betfair?
Betfair Cricket Betting Through the Regular Sportsbook Channel
The sportsbook offers access to more than 30 different sports and their respective events. Cricket is one of the most popular games at the bookmaker, with punters having access to almost all the cricketing events all over the globe. From county cricket to IPL, test and international ODI matches, here you will have unpreceded opportunities to bet on your favourite games and enjoy great odds.
Betfair cricket betting in India is more aligned with the IPL, Indian matches, and some high profile international matches with foreign teams, which continues to garner popularity among established and rookie punters alike. The cricket betting section is facilitated by a highly intuitive interface that gives punters the option to choose between various scheduled matches and in-play game options.
The Betfair cricket odds are pretty impressive as well, with the smallest payout odds at 1.03 and the highest at 101.0. The Betfair cricket in-play wagers also offer great playing conditions, including over by over betting, and betting on wagers that were available before the match started. Seasoned punters and veteran sports bettors may notice that the highest payout is not as high as some of the other bookmakers, who can offer as high as 200.0 or 300.0 odds for certain scenarios.
Cash out for Bigger Chances of Winning
However, the odds change with the progression of the game, and the bookie offers the convenience of getting out of bets with a small fee, known as the Betfair Cash Out option. We would time and again choose the Cash Out feature at Betfair over any other offer, as this option enables punters to settle bets mid-way, in order to lock in profits or cut losses.
Live Streaming Is Still in the Works
As with most cricket betting operators, Betfair also provides a graphical representation of the progression of the games. The cricket live rate commentary and other match information are provided in a small flash snippet that gives a fairly loose representation of what is going on with the game. One of the major disappointments is the lack of live streaming, which could have helped in spicing up the betting experience.
Then again, we have reviewed other sports bookmakers that promise a live streaming option but fail to deliver on their promises when it comes to cricket matches. We would really love bookies to offer online live streaming through their interface, which can certainly make live cricket betting more attractive for the fans.
The Betfair Exchange Cricket Betting Option
A cricket betting exchange is not your average bookie betting option where the bookmaker takes the entire brunt of your winnings. In traditional sports betting, a bookie offers the odds for an event, where the players are given the option to either accept or reject the odds. Winning wagers are paid directly by the bookmaker to the punter, while the money from the losing players goes to the bookmaker.
Therefore, such a betting option is fairly simple and easy to understand, but it is a given fact that the bookmaker makes money directly from the losses suffered by a bettor. On the contrary, a substantial win for the punters can result in a massive loss for the bookmaker. Therefore, it is common for bettors to witness extremely low odds for several wagers, which is an intentional move by the bookmakers to prevent heavy losses.
How Does a Betting Exchange Work?
In a betting exchange, the bookmaker acts just as an intermediary between two punters, with the winner of the bet having to pay a commission to the bookie for facilitating the transaction. This form of betting is highly conducive for both bookmakers and the players, as the choice of bets is virtually endless.
The concept of an exchange betting is not new in the world of sports betting, as oftentimes there are possible outcomes in a match that a bookie may not be comfortable in offering any odds to its players. It is quite similar to a regular bet between two players, possibly done in a pub, work, or at home, but done on a larger scale.
In a betting exchange, punters are given the opportunity of betting against players from all over the world, where the bookmaker can cover their downside and earn a potentially handsome sum off the winners’ commission. Although bet exchanges are commonplace in the industry, there aren’t that many operators that have incorporated this concept into their sportsbooks.
Betfair is one of the very few cricket betting operators in India to have a betting exchange in place, and it is one of the best in the market. The Betfair cricket trading may take some time to getting used to, as the winning commissions and the odds vary according to the game and number of punters.
Players can also choose their own odds and bet against other players through the exchange, provided there are punters willing to bet against your odds. There can also be scenarios where there might not be enough players to take the opposite end of a bet, which can render the wager null and void.
According to the company’s estimates, as much as $12 billion changed hands in various cricket matches through the Betfair exchange, and we are certainly impressed with the exchange betting option offered by Betfair.
Betfair Bonus Programs & Promotional Offers
The Betfair sportsbook and exchange has limited offers and bonuses, when compared to other bookmakers in the industry. Of course, there are a few promos to keep punters excited, but the overall bonus offerings are not at par with what is expected from a company of Betfair’s stature.
For beginner players or new account holders, Betfair is offering a risk-free €5 bonus on its exchange that does not require a deposit. The risk-free bet is only available for betting on certain games and is only credited as a refund if the bet is lost. Existing players can also take advantage of this offer if they have not availed such a bonus before, but the bonus is only offered once for every account holder.
There is another Betfair bonus of €10 if you bet at least €20 on a game, which can only be used to bet on the sportsbook. The bonus amount is credited as playing credits and once again contains certain terms and conditions that are determined by the sportsbook. We are afraid that there are no other bonuses to keep you entertained, but it may be more preferable for seasoned punters.
Bonuses always have strict wagering requirements and can put your withdrawal on hold if you don’t meet them, which is why sports betting without a bonus can grant you access to your money without any conditions.
Betfair Platform & Mobile Betting
The Betfair exchange and the Betfair sportsbook are both accessible through the company’s web-based interface that runs through the web browser. It is a proprietary interface that has all the sports betting features embedded into a browser.
Having an online interface is advantageous for sports betting sites as it allows instantaneous streaming of cricket rates, scores, and matches, without having to depend on a clunky and outdated desktop platform. Web browser betting platforms are also scalable for different screen sizes owing to their responsive nature, which offers excellent support for mobile betting.
The Betfair mobile platform is essentially the same interface that is accessible through a compatible web browser, which offers excellent usability for both smartphones and tablets. The platform is customised according to the size of the screen, but the basic platform offers all the functions and features that players have come to expect from bookmakers.
If you are searching for dedicated Betfair apps, both Android and Apple iOS devices don’t have any on their official stores, as is the case with Windows devices. Your only option is to access your account through the browser-based interface. The actual betting interface is quite seamless and easy to use, as all betting information, odds, match information, and the choice of games are displayed above the fold.
Bettors are offered the option to choose between live in-play or future matches, with the wagers available upon clicking through to an actual match. There is no live streaming for cricket matches, but a small graphical widget gives live information about the match and the live cricket rate.
All the bets and odds are displayed on each outcome, with players having the option to switch the odds format between decimals and fractions. Almost all cricket matches have a Cash Out feature, unless otherwise specified. The Cash Out option is a great tool to opt out of wagers in a partial profit or loss, well before the expiry of the bet.
Betfair Accounts, Deposits, Withdrawals, & Payment Methods
To open an account at Betfair from India, you must first ensure that you are well within your rights and are bound by the laF,w to gamble in the sporting industry. Therefore, there is a considerable amount of risk in cricket betting, which should be your primary concern while choosing to gamble in the Betfair cricket market.
Once you have decided to go ahead with your choice, Betfair offers a fairly short signup page where you can enter your personal details and other identifying information to open an account. You will be asked to verify your email address and accept the bookmaker’s terms and conditions, after which you can proceed to the account funding page.
Players should be at least 18 years to be able to sign up for an account and should be of legal age in their respective country for gambling.
There are primarily six different payment methods available for depositing money into the account. The first option is a credit/debit card deposit option, where the minimum deposit amount is just $10. You have to add a card to your account to facilitate your first transaction, which is verified by Betfair before you can add funds.
If you do not wish to add a card to your betting account, you can also use other funding methods such as Neteller, Skrill, QIWI Wallet, AstroPay Card, and Bank wire transfer. The minimum deposit amount for Neteller and Skrill is $20, while QIWI Wallet and AstroPay Card payments have a minimum deposit requirement of $12 and $15, respectively.
The minimum amount for wire transfer is $10, but all payment methods are free from any transaction fees.
Withdrawing funds is an elaborate affair at first. If you are a new account holder, Betfair will ask you to verify your account, which requires an identifying document and a proof of address. You are free to deposit money and play as much as you like, but you have to verify your account to make a withdrawal. The verification procedure can take a while, with up to 48 hours being the norm.
The verification procedure can take longer during weekends or during holidays, but the Betfair account managers will try to verify your account as soon as possible. The withdrawals may not be instant, as there is a security hold and can take up to a minimum of 24 hours for processing. There may be fees of transaction and is dependent on your chosen withdrawal method.
Players must understand that Betfair will only process withdrawals through the same method that was used to fund the account, so as to enhance security of the payments. Deposits and withdrawals are carried out through 128-bit SSL encryption.
The funds are also transferred to segregated accounts, and the betting operator is subjected through routine third-party audits to increase financial transparency. With Betfair, you can expect full safety for your money and can expect to receive your withdrawal without any troubles.
Betfair Customer Service & Complaint Procedure
Betfair used to have the best customer service environment in recent years, but as of late, we have noticed that there has been a slight drop in the overall efficiency of the customer support department. For instance, the bookmaker promises 24/7 support through chat, email, and phone, but the live chat department seems to be absent during off-peak hours.
We are also not impressed that the off hours seem to coincide with the regular office hours in IST. However, for quick arbitration or resolution to a problem, Betfair is pretty responsive through their email and phone support, which still displays the efficiency and quality that we have experienced in the past.
A sports betting company must an excellent complaint and dispute resolution policy in place to ease the minds of the players. Up to that extent, Betfair has a fairly detailed dispute resolution practice in place for punters from different regions. In case a player is not satisfied with the response of Betfair regarding the resolution of a grievance, they can always lodge a formal complaint with the Northern Territory Racing Commission, which offers an online gambling dispute form for arbitration.
In most cases, Betfair has worked favourably with their players, with only some cases remaining unresolved to a larger extent. However, Betfair provides a fairly positive customer service experience, with players having no reasons to complain regarding the overall quality, security, and reliability of the bookmaker.
Betfair India, Legal, & Licensing Information
We take the issue of licensing and regulation quite seriously, as a licensed operator is far more desirable and secure than an offshore company. In this instance, we really recommend Betfair’s services, as it is one of the most reliable and dependable betting operators in the market. Betfair is a licensed and regulated sports bookmaker under the Malta Gaming Authority and the UK’s Gambling Commission.
Betfair’s UK operations are supervised by the Gambling Commission of the UK, while players from the rest of the world are protected by the Maltese Gaming Authority. Betfair is owned and operated as a sports betting and gaming company under the Paddy Power Betfair brand name, which has a total of four different entities that include Sportsbet and TVG.
Paddy Power Befair was launched in 2016, but the company has been a significant presence in the online sports betting scene since 1999. Betfair is also a constituent of the FTSE100 Index of the UK, which means that the company is aptly responsible for operating according to the terms and conditions stipulated by the UK’s financial authorities such as the FCA.
We can also witness the company’s fair and transparent approach by way of its gambling operations, which is why Betfair is trusted by more than five million punters worldwide.
Cricket Betting Details to Keep in Mind
In regards to the cricket betting in Indiac, we should mention that there are several legal complications that await punters. Cricket betting is not entirely legal in India, which explains why there are almost no high-quality bookmakers operating in the country. Of course, there are countless operators running under the radar, but we can’t guarantee the reliability of these companies or individuals.
Therefore, we recommend an overseas bookmaker such as Betfair, who are at least licensed and regulated by a fair and transparent organisation. However, Betfair operates as a cricket bookmaker in India through its Maltese branch, which essentially allows the company to cater to the millions of cricketing fans in India through a licensed betting platform. Obviously, Betfair does not have any branch in India, nor is it approved by any Indian agencies, but it does have an India-specific website that caters to Indian bettors.
Players can open an account and verify their accounts through any identifying documents such as a passport, utility bills, and bank statements, and it is guaranteed to provide full access to the Betfair sports and cricket betting platform.
Responsible Gaming Policies at Betfair
Betfair only allows 18+ players to wager on games and bet through their sportsbook. All players are required to verify their age and identity, which is an important step in the entire betting process. Betfair provides several tools to prevent gaming addiction, such as limiting deposits and the playing time, account blocking, and gambling therapy, all of which helps in preventing addiction and massive gambling losses.
Players are encouraged to go through the bookmaker’s responsible gambling resources for more information. Final Thoughts on Betfair Cricket Betting In India Betfair is one of the very few reputed bookmakers that offers a cricket sportsbook and exchange for punters in India. Of course, there are risks associated with cricket betting and the legality of Betfair in India, but until now, they have always operated in the best interests of its customers.
Betfair is a reliable and regulated company that has some of the best odds in the industry. The Betfair online cricket market is sure to increase in the near future, as the bookmaker is on an expansion drive. Inevitably, working with a reputed betting operator is far superior to betting with an unknown entity, and we recommend Betfair for all Indian cricket matches, including the Indian Premier League (IPL).
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