King Exchange betting is a very popular underground betting platform. Punters regularly flock to the scene tempted by high bonuses and better betting odds. But is it all that it promises? What are the safety issues related to a website like King Exchange betting? And is there truly anywhere else that compares to the site? We attempt to do an in-depth analysis of these questions and more and bring to you some of the best alternative Sportsbook.
King Exchange Review – The Pitfalls of an Illegal Platform
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Why avoid King Exchange?
|Customer Support||No customer service for problems|
Illegal platforms like King Exchange have no security measures in place to protect you. All your information is dangerously compromised by viruses that can read all your information to your financial details made visible. Even if you use measures like antiviruses or fake IDs, today’s viruses are highly sophisticated and can crash your computer despite having firewalls up.
Secondly, with no security to encrypt your data, you are essentially putting up your financials for the world to see. Your identity and other sensitive information could then be stolen and sold to illegal 3rd parties which in turn could get you into a lot of trouble. They do not follow any gambling laws that are passed by the governmment.
All in all, there are too many risks related to accessing illegal platforms- whether they are for betting, casinos, or anything else. Always choose legal sites that have a whole host of tools in place to protect you online.
No System to handle disputes
On legal sites
What is the next step when you ask for your winnings to be withdrawn but nothing is sent to you for days? Or perhaps the screen freezes just as it announces a jackpot but you get nothing in your account?
On legal betting sites, you can speak with the customer support executives and find out the problem- perhaps they will ask for alternative payment methods or ask you to clarify your submitted documents.
No customer service for problems
However, on illegal betting sites, there is no customer service to actually help you solve your problems. In fact, they may be deliberately creating issues, or keeping your amount with them to pay their own bills. They in fact especially known to do this deliberately when large amounts of winnings are involved.
This is the case of a dispute or problem, you are simply left without any recourse. You can’t lawyer up, because it is illegal to bet on these sites including others like lord exchange, skyexchange etc. Nor can you complain to a 3rd party, or on a website that mediates these problems, because again, your own actions will be deemed illegal.
Legal sites have licenses from commissions and governments to be able to provide punters with a platform to play their favorite games. These betting portals and websites use games created by registered and licensed game creators. What all of this translates to is essentially safeguarding the interest of the players. These regulations ensure that the games are fair and legitimate.
There are also no safety protocols that they are meant to follow, meaning that your information could be sold for huge sums in the black market, putting you in serious danger. Regulations on companies and institutions protect you, and when none exist, you are left completely vulnerable.
Deposits are not secure at King Exchange
Whenever you deposit an amount to an illegal platform, whether that is through GPay or Cryptocurrencies, you are exposing your financial details to viruses and unsafe 3rd parties.
Your amount and any winnings you may accrue are all in the hands of untrustworthy groups whose sole goal is to rip you off, and have no regulations to keep them from doing that. This means that they can block your account whenever they want irrespective of how much you have in your game account. In fact, the owners of King exchange have been known to do that in the past.
Another problem with making deposits is the lack of encryption. Encryptions are codes that jumble sensitive information such as your bank details etc. so that neither the receiver or anyone else in between can actually read any of it. However, illegal upi casinos do no such things.
This leaves you vulnerable to having details of your financials stolen, your identity compromised, and problems with your deposit. Even if you were to use a secondary account for deposits, hackers can easily trace back to your original account once details of your secondary payment method is open to them.
Criminal in Nature
The majority of states in India have an absolute gambling and betting ban. Though there is no such federal or blanket ban in place, casinos are in most cases not legal in the country. The few exceptions have stringent laws in place to limit their activity as well.
It is also illegal to have an online casino that is based in India. However, online casinos or sportsbooks with international gaming licenses based in another country are legal for Indians to play on.
King Exchange was not a licensed website. They ran their website from Hyderabad, where this is completely illegal. However, that is not the worst part, the owners were also accused of stealing amount from their players and cheating, which is how many players lost huge amounts because they simply refused to pay the punters their deposited amount back.
There have also been cases of large crime syndicates running illegal betting who then lean on blackmailing and extorting their client base for favors or money.
If they don’t get to you, then the law enforcement will. When the illegal owners of King Exchange got arrested, they had no responsibility of protecting the identities of their clients from the police. So, you could also get in serious trouble with the law since sites like this are illegal in India
Features of King Exchange Alternative Betting Platform we recommend
100% Legal and Licensed
The websites recommended in this king exchange review are all a 100% legal. This means that they all come with government backed licenses in the countries where they are based.
Being rewarded a license means that the website has to go through regular quality checks making sure that the casino or sportsbook is fair and aboveboard, thereby protecting the interests of the players. Part of qualifying the quality checks includes using legit and registered game providers who in turn have to prove that they are above board.
No Cheating or Fraud involved
Before a betting platform can receive a license they have to prove that their measures against money laundering are watertight. This in turn makes sure that none of the players’ amount can be put at risk at any time. They cannot rig games, or cheat their way into getting your amount. In fact, if you notice any such practices, and have proof of it, you can hold them accountable for them.
If a person wins a certain amount from gambling activities like horse racing, gambling, lotteries etc. then he or she is entitled to give Income Tax on online gambling winnings.
Dedicated Customer Support
The Legal casinos and betting portals shown here all have a knowledgeable and trained customer support system. Many of them operate 24×7 making sure that you can reach them any moment you have an issue, and it also makes them available to people across time Zones.
Many of these platforms must also have a system to solve disputes. They normally have a dispute manager whose sole job is to figure out your problems, and they also usually have 3rd party mediators in place.
With sites like King Exchange, if you have a problem, there is nowhere to complain or no one you can turn to for help. They might help if it suits them to do so. In most cases, since they are the ones creating the problems in the first place, they will most likely not help at all.
More than just Cricket Betting Available
Legal betting sites allow punters to place their bets on everything cricket starting from International one-dayers, the women’s league tournaments, and the IPL cricket league.
You can find every football team in the world on legal sites; You can bet on teams, penalty kicks, and more. From detailed play-by-play to live bets, legal betting makes football more exciting while simultaneously making it safer. You can bet on live events like the FIFA world cup, or smaller tournaments- the choice is up to you.
You can find international, national, and state team competitions and tournaments for tennis on betting websites. Like football and cricket, many sites offer live betting, as well as outright bets. You can take a look at events like the French Open, and bet on your favorite players.
Olympics and other tournaments
On most legal betting websites, you will see options to bet on many large international and smaller scale tournaments. From the Olympics to big E-sports tournaments, everything is just a click away.
Betting on legal sites doesn’t stop only at sports. You can bet on your preferred candidates for elections- whether that be national or international.
Who is the Owner of King Exchange?
The owner of the KingExchange betting platform was the company called MahadevBook. This company owned a whole bunch of illegal websites for betting. These included King Exchange, Lord Exchange, Lotus king, and many more.
The four people who were the masterminds behind this were Tahahuddin, Azam Khan, Khaja Asim Ahmed, and Mohd Shazayb. They ran the portals out of Hyderabad.
In August of 2021, the four were arrested for their illegal activities including illegal commissions, running illegal sites, and more. They would charge for the IDs and the access that they provided their players. On top of that, they earned commissions from illegal parties for these bets.
They had multiple bank accounts open to receive payments and had a list of contacts and punters, which were also seized during the raid on their living quarters by the North Zone Taskforce.
Guide to sports betting on its Alternative Sites
King Exchange betting Alternative- BetShah
BetShah is an online casino and sports betting platform that became available to Indian players in 2019. It is a perfectly legal online platform with a commercial license from the government of Curacao. They are a completely secure website that protects your sensitive data.
Payment methods include GPay, Paytm, Visa, and more, making it a breeze for players to deposit an amount. Withdrawal methods include Neteller, Skrill, and more for an easy transaction.
The website goes through quality checks and uses some of the best software providers in the industry who are registered and have gone through many quality checks.
Create your account
Creating an account on BetShah is one of the easiest processes you will ever see. You just have to fill in a handful of details to sign in and then you can immediately deposit money and start playing!
- First you need to fill your mobile number on which you will get a code.
- Now fill the code received on your mobile.
- Choose your country from a drop-down menu.
- Next is your e-mail.
- Now create your password.
- Accept terms and conditions.
- Click on register button and you are all set.
And there you have it! Your new account on BetShah is primed and ready to go!
Things to remember:
You cannot change your currency once you have signed up. BetShah has a number of currencies available, so choose wisely. You do not automatically get your sign-in bonus. You will have to choose which bonus you would prefer.
You will be asked to verify your details eventually, so make sure that the details provided are the same as shown on your documents.
Always read the terms and conditions before you join.
Claim your Deposit Bonus
BetShah offers two kinds of bonuses. One is for sports fans who are looking to bet on various sporting events. The other is for their casino. To claim either deposit, you will have to choose your favored bonus from the options given. You do not have to choose either bonus immediately. Instead, you get a week in order to pick either bonus.
Remember that you can choose either one of the two welcome bonuses on the website only. So make sure to choose the one you will actually use regularly since you will have to complete their wagering requirements in time.
Deposit the money
Once you have signed in you can immediately deposit amount to start playing. However, it is a good idea to choose your bonus first. You have a huge number of options available for deposits. Some are better for how quick they are, while others allow you to deposit large sums of money.
Once you have made your payments, there is nothing else to do but to start playing! BetShah has a huge collection of casino games like Teen Patti, Roulette, and more. Even rarer casino additions such as Bingo and scratch cards are available on this platform.
For sports bettors, there are the usual sports like Cricket and football, but punters can find many kinds of games and events from golf to the Olympics.
Deposit Methods available at its Alternatives
UPI (Paytm, Gpay, etc)
UPI Betting sites have fast, secure payment methods, and more importantly, easy as pie. Many legal alternatives to KingExchange allow players to pay their deposits through platforms like GPay, Paytm, PhonePay etc.
Upi payments are available in multiple countries and therefore can manage many types of currencies.
Credit and Debit Cards
Credit and debit cards are the more classical ways of making payments to sites. Different sites accept different types of credit and debit cards, so it is always good to check if your preferred site accepts the cards you own.
Most websites, however, accept Visa, Mastercard; and Astropay. If you are using a card to make payments, it is always worth checking if your card accepts International transfers.
Skrill and Neteller
Regular players favor the E-wallets Skrill and Neteller. One of the things that make both these options great is that these e-wallets can be used for both deposits and withdrawals, therefore cutting down on any transfer fees.
Different Bonuses you can claim at King Exchange Bet Alternatives
- 100% Bonus Matching
100% match bonuses basically mean that whatever you deposit on your favorite betting site that is legal, you will have a 100% of that money added from the casino to your account. Some rare websites go even higher.
- Free spins on casino games
Many websites offer something even better: free spins at casino games. While welcome bonuses come with wagering requirements, free spins don’t work like that. Free spins can be used to play casino games without depositing any extra cash.
- Cashbacks on Lost Bets
Many legal websites give punters something that King exchange betting would never do: return the amount you lost while betting. Many legal sports betting sites will actually have cashback offers where they return part of the amount you bet on a sport but lost.
Legal betting and casino websites come with so many perks and gaming options, that there truly isn’t any need to be visiting illegal sites. Platforms like King Exchange betting may promise better odds or free perks, but they are untrustworthy, and seldom keep to their promises.
Legal sites, however, are bound by law to deliver on their promises. On these sites, you get what you see. All their terms and conditions are clearly explained on the sites so that players understand all the nitty-gritty of the games.
On King Exchange, though many promises are made, the rules and regulations, or even how things work are not available.
Legal sites will give punters a list of game creators so that they know exactly what the nature of the games are, and the quality that they live up to. Illegal websites however do not do that since they follow no regulations and do not use legitimate software.
In conclusion, leaving your financial and other sensitive information open to phishing and viruses are not worth the false promises made. Look up the list of King Exchange alternatives to find your next safe and fun betting platform.