As with any emerging market, there are certain nuances that must be understood if you are seeking to profitably trade sports into India. And as with any counterparty, from licensed bookie to top-tier agent, it is important to understand bet acceptance and payout rules. In India, these are relatively straightforward to understand.
There are no Indian betting market networks, operators, agents or Skins with a bet cancellation record such as SingBet. Bets in India, once accepted, are very rarely cancelled. If your Indian counterparty does not like your action they won’t accept the bets. If they do accept and they suffer big losses in a short time, they may argue of some of the payout but will usually agree to a 100% payout and close the account, along with any directly related intermediary. This can be damaging for all parties, so it’s important this is avoided.
The most common form of wholesale bet cancelation in India is market-wide write-offs in cricket. Because the Indian market is based on the Betfair price, any suspicious activity on match odds can lead to a strong suspicion of match fixing. The Indian bookmakers have been hurt significantly by gangs fixing matches and it’s not in their collective interest for it to happen. They need a straight market as it’s better for long-term business. Cancelled bets in these circumstances are usually refunded in full and are rare.
For most traders betting in India, they will only ever experience individual bet cancellations if they are manipulating the underlying Betfair market. Tools are available to bookmakers in India that analyse how the Betfair price is behaving before, during and after your bets. Thanks to the gearing available on Indian betting Skins and phone lines, it is possible to push the Betfair screen price higher or lower. Then take advantage the other side in India. But if this happens, bookmakers can refuse to pay out that market and even go so far as refusing to pay out the entire account and outstanding balance. It must be clearly understood that if a syndicate’s strategy solely relies on regular price manipulation, their action won’t be welcomed for too long in India. And Cricket88 cannot represent such groups.
The third factor in understanding Indian counterparty trading risk is whether the bookmaker will pay out your account winnings when requested. More on this topic can be found elsewhere within the Cricket88 website, but in summary, if your bets are genuine, your winnings will be paid out. If the bookie decides they don’t want to lay your action any longer, they will close the account but they will honour the winnings up to that point. Well, Cricket88’s bookmakers will, we can’t comment on others.
The difficulty in entering India, as with all new markets, is learning who to trust. There are numerous hustlers and fly-by-nights operating internationally, purporting to have solid outlets in India. Due diligence can be difficult. But by using the intermediary services from Cricket88, these risks are removed. Cricket88 only works with trusted bookmakers who have been in business for decades with a strong commercial understanding, and who will always pay. Firstly, all parties will need to understand what your action will be. Small but growing trials can get all parties comfortable with limits, bet sizes and win limits.
As a boutique consultancy formed by a team of sports betting veterans in the London, UAE and India, we can prove to you our authenticity. Contact us to understand how the nuances of the Indian market relate to your trading strategies.