SKY247 Exchange

In the current SKY247 exchange review, you can get an insight into the same-named platform and the benefits you may get from its online betting exchange. SKY247 is a website that offers a lot of gambling and betting options for players from all over the world. At the same time, most bettors on the portal are from India which is why here you can find various cricket matches, kabaddi, horse racing, etc. Along with that, SKY247 has the ability to visit the “Exchange” section to play not with bookmaker but with other platform players. Below you can check the main parameters of the SKY247 betting platform.

Founded2018
License365/JAZ issued by the Curacao eGaming Commission
OwnerSky Infotech N.V.
Available game optionsCasino games, bookmaker, betting exchange
Supported currenciesFiat and digital money
Customer supportLive chat option, phone, email
SKY247 exchange app downloadNot available

What is a Betting Exchange?

As a rule, the betting exchange is an additional section on the platform where you can predict the outcome of a sports event and bet on a specific match. The main difference between an online exchange and a regular bookmaker’s is that you interact directly with other players. While using the online exchange, you can not only sell but also buy matches throughout the game. Betting on the online exchange is a great chance to fix results and significantly reduce the possible risks of losing.

There are two main advantages of using a betting exchange for players as well as for platforms that come with this offer.

  1. After the successful completion of the event, the exchange charges a small percentage. At the same time, it is much less than the same percentage of regular bookmakers (it can reach up to 2% of the winning amount).
  2. Bettors have a larger arsenal of odds they can operate with. The dame is true towards SKY247 exchange. This is due to the fact that the platform does not take risks and therefore does not restrict users in the types of bets. This is another distinctive feature of exchanges compared to bookmakers.

It is worth noting that despite some advantages, betting exchanges have not yet become as popular as regular bookmakers. At the same time, they have already taken their niche in the gambling business thanks to a clear scheme of work and simplicity of usage.

How Does It Work?

Before you start betting on an online exchange, you need to carefully learn the rules of a particular platform. Usually, the FAQ section is not enough to get a big picture about the online betting exchange: in the case of the current platform, you should use the SKY247 exchange login and password to open your account and then proceed to the “Terms of Use” of the exchange. Also, you can contact the customer support service directly. The fact is that, unlike ordinary bookmakers, you can get confused about the betting exchange, especially if you have no experience in using it.

Once you have the necessary knowledge, you are able to enjoy enhanced betting opportunities and get benefits from higher odds.

You can do this, for example, by fixing the result of the game before it becomes clear.

In fact, this web resource is a platform that unites bettors and provides advanced odds and betting opportunities. At the same time, each of the bettors directly interacts only with another user and is free to choose rates, odds, and other variables. So you can create your own mini-market.

For instance, you may be well-versed in football and follow one of the teams. After doing the analysis, on the eve of the match, you make an assumption that this team will be able to win and move up the tournament table. You go to the SKY247 exchange and send a request that can override the already existing one. At the same time, other users on the exchange may consider your prediction incorrect and try to place an even higher bet on the fact that you are wrong. In this case, the same player can act as both a bettor and a bookmaker.

Why Use an Exchange?

The main reason why bettors use exchanges is the ability to place lay and back bets. In the first case, the user assumes a specific outcome in favor of some team. For example, you can be well-versed in cricket and expect the “Windies” to beat the Pakistan team. As with the bookmaker, you win if your guess is correct. Speaking about the current platform, you should use your SKY247 exchange login to open the account, go to the corresponding section of the exchange, and select a match. After that, the system automatically offers you betting options that you can use. Let’s say you choose the option when “Windies” win at odds of 1.41, and you place 30 rupees on this event.

After you confirm the bet, the system equalizes it. If your team wins, then you get 8.20 rupees from your counterparty plus 30 rupees, which the system automatically returns to your main balance. If your team loses or if the match ends in a draw, you lose your Rs 30 bet. You may also take a risk and increase the odds. To do this, the platforms offer handy controls to customize the bet. 

At the same time, be ready so that the system may process your request and accept it for a long time. The fact is that the larger the bet and the higher the odds, the more difficult it is to find an opponent who can accept the current conditions. All processes can be automated, and you can try it from any device, Even though there is no SKY247 exchange app download page, you can use the mobile version of the site.

The platform automatically transfers 30 INR back to your account if the player is still not found. If you use the “back” option, you bet that some team will not beat the opponent. In this case, the logic of the process is similar to that already described above.

Pros of Betting Exchanges

Pros of Betting Exchanges

Like every betting platform, the online exchange has its pros and cons. Lett’s starts with the main advantages.

Profit Guaranteed

All modern exchanges allow users to bet both “for” and “against.” Thus, you can have a trade-out option. In other words, it is possible to bet on the opposite outcome of what has already been done. With this option, you can reinsure yourself and reduce the possible risk of losing funds. As a rule, most platforms (including SKY247 exchange) allow users to set up these processes and carry them out automatically.

Extended Range of Odds

Unlike bookmakers, the betting exchange offers a wider range of odds. This is a significant advantage since there are bookmakers who set fairly too low or too high odd ranges, and bettors do not have the opportunity to fix them. In this case, you can adjust the odds and increase your chance of winning. Thus, exchanges play the role of an intermediary between you and other bettors on the platform.

Attitude Towards the Winners

Initially, the principle of operation of the online exchange does not take your loss as a primary goal as some bookmakers do. The platform only receives a small percentage of successful deals and never bans you if you have a winning streak.

Commission

A little commission is the only source of income for online betting exchanges. If you do some research on the web and check any SKY247 exchange review, you won’t find any mention of fixed margins or hidden fees as you would with regular bookmakers. If you lose, the exchange does not charge any interest.

Limits

This is another important difference and advantage of exchanges over regular bookmakers. Bettors on exchanges are not limited in the amounts and odds they can bet on. Liquidity can be the only limitation for you. In other words, a certain amount of funds is available for betting on the market.

Cons of Betting Exchanges

Cons of Betting Exchanges

The betting exchange also has its own weak sides. Below, you can check them in detail.

A Poor Variety of Bonuses

As you know, most bookmakers offer users to take advantage of various bonuses to increase engagement. These can be welcome bonuses for beginners; deposit programs for regular users; a cashback option that allows you to return part of the lost funds; an affiliate program with which you can passively earn on referrals, and more. Most platforms (including SKY247 exchange) cannot boast of such offers. Their main focus is on the variety of bets and the ability of the player to be both a bettor and a bookmaker.

Difficulties in Matching Rates

It is no secret that online exchanges are not as liquid as bookmakers. As a result, this leads to difficulties in negotiating rates. For example, if you are good at water polo, then it is quite difficult for you to find a suitable opponent on the stock exchange due to the small number of people interested in this sport. But even if the platform picks such an opponent for you, there is no guarantee that your conditions will suit them, which further reduces the chance of the deal being approved.

Fixed Matches

Although fixed matches can take place on traditional portals, betting exchange significantly increases this probability. As you can see from this SKY247 exchange review, this is one of the main disadvantages of the liberalization of the process and a larger range of rates. A bettor can set high odds in order to attract other users to the exchange and then pay players less than they could earn in the corresponding game. As a result, many players face unclear play and unfair losses.

A Small Number of Online Exchanges on the Betting Market

Since this type of betting is not yet very popular among users on the Internet, you will not find a large number of portals that offer such services. This is the main reason for the dominance of traditional bookmakers in the market. At the same time, many providers are trying to combine both betting services and online exchange on one platform. This greatly increases the audience, and SKY247 is one of such platform.

Exchange Rules

Exchange Rules

Each online exchange has its own peculiarities regarding accepting odds, available time limits, etc. So it is better to use your SKY247 exchange login and password to open your account and contact customer support service for details. At the same time, there are several general rules which are true for any online betting exchange. 

Betting Time Limits

Most online exchanges do not accept bets after the end of an event or after a certain time of its end. This time period may be unique to a particular sport. There are situations when the game does not have a clear time limit (like in the case of cricket). As a result, the exchange tries to determine the time of the actual shutdown, taking into account, for example, the type of game.

Market Management

If you go to the “Terms of Use” of a particular exchange, you can read about the specific settlement rules. If there are no such rules, then the system settles the market based on the official result of the respective governing body. Also, data from independent sources can be taken as a basis within two days.

Cancellation

For example, if you use SKY247 com exchange to bet on a match that is not completed within three days of the scheduled finish date, the online exchange reserves the right to void all bets. If it is a tournament or a competition, the final decision will be made by the official governing body within 90 days from the scheduled end date of the event.

Location

In the case of a team sport, if the scheduled match venue is changed after the betting exchange has established the market, all bets may be void. This often happens when the new venue is the home stadium of the original visiting team. This rule does not apply to individual sports.

SKY247 Support

The SKY247 platform has a highly-qualified support service that is ready to help you 24/7. You can select several options to contact the expert team. First of all, you can activate the live chat option. If you proceed to the main using your SKY247 exchange login and password, you can see a little “Message” button closer to the site’s footer. After clicking on it, you should specify your contact details, fill in your request and send it. As a rule, you can get a response within a minute or two. That is the best option for quickly resolving any problem. Also, you may drop a message on the official email address ([email protected]). There is also another method to contact the support team directly: you can do it by dialing (+919007786429). Also, you can visit FAQ sections to learn more about the main principles of exchange work, the way you can place orders, available deposits/withdrawing methods, etc. You can also check SKY247 communities on social networks to get a full picture about the platform, learn about other users’ experience, communicate with admins, etc.

FAQ

Can bettors use online exchange from mobile devices?

Yes, since the platform is fully responsive, you can launch any game or bet on any event via PC, laptop, or any type of up-to-date mobile device. At the same time, there is no SKY247 exchange app download page, but you can use a full-fledged mobile version of the site.

Can the platform’s clients use cryptocurrency while betting on the SKY247 exchange?

No, currently, you can not use this option. At the same time, there is a wide variety of payment gateways for fiat money. Check them in detail in the “Payment methods” section on the official website.

What types of sports are available for betting on the SKY247 exchange?

You may use the whole variety of sports that the “Sportsbook” offers. At the same time, the most popular sports here are cricket, soccer, e-soccer, and tennis. Also, the SKY247 platform has a “Fancy Bet” option.

Does the platform support a money-back guarantee?

Yes, you can use this option. To learn this topic in detail, you should proceed to the platform’s “Terms of use” and check the exhaustive information there.