King Exchange Review – The Pitfalls of an Illegal Platform

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. 

1. 10cric

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7. CasinoDome

Casino Dome is an online casino for Indians to play live casino games, slot games, and other variety of games in a secure environment.

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8. Pure Casino

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9. Casumo

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Why avoid King Exchange?

Security Not Secure
Trustworthy Untrustworthy
Payments Not Secure
Licensing Unlicensed 
Customer Support No customer service for problems

King-Exchange-Review

No security

Illegal platforms like King Exchange have no security measures in place to protect you. All your information is dangerously compromised from 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. 

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 at King Exchange

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What is the next step when you ask for your winnings to be withdrawn but nothing is sent to you for days?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. 

If you disagree with the way the casino handled things, there are reputable 3rd parties you can go to, contact their dispute management team. If the problem is too big, you also always have the right to go to court. 

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 money with them to pay their own bills. They in fact especially known to do this deliberately when large amounts of winnings are involved. 

Many users have also noted that while they may let you win in the beginning, especially with smaller amounts, as your deposit amounts grow, the game seems obviously rigged against the player to be able to win back all that you won.

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 be betting on these sites. 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. If you lose all your money here, then that is it, and the owners have no legal or moral obligation to make sure that their system is fair for you. 

Zero Regulation

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. 

Illegal sites like King exchange have no such regulations in place. Sites like these can have rigged games and bets, indulge in insider trade, and set up a system that is designed to extort and cheat players. There is also no regulation on the commissions that the owners earn; meaning players could be set up to lose or win depending on results that earn them more commission. 

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 money to an illegal platform, whether that is through GPay or Cryptocurrencies, you are exposing your financial details to viruses and unsafe 3rd parties. 

Untrustworthy

Your money 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. 

Unregulated

Secondly, regulations by licensing bodies make sure that casino and sportsbook owners cannot dip into the players’ deposits to cover their own costs. This means that even if the owners went bankrupt, your money would still be there for you to withdraw. However, with unsafe sites like King Exchange, that is not the case. They can easily draw your funds to cover their business costs, and not return them when you want them, if ever. 

Unencrypted 

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 sites 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 law

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. 

Unlicensed 

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 money from their players and cheating, which is how many players lost huge amounts because they simply refused to pay the punters their money back. 

Crime syndicates

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 King Exchange are illegal in India

Features of King Exchange Alternative Betting Platform we recommend

100%-Legal-and-Licensed

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.

If a game provider turns out to have somehow rigged a game, the casino owners are held responsible for it. This means that the websites recommended in this king exchange review all rigorously check the game providers and games before making them available to the public. 

These casinos which have licenses have to follow rules that make sure that the money players put into the site is safeguarded. The payments methods that are open to players are checked as well for being safe and legal. This means that if your financial information is leaked through their website, they will be held accountable for it. You, as a player will have the right to claim compensation in such a case. 

In case of any problems, you therefore also have access to legal recourses, thereby making sure that you are always safeguarded when playing, or paying online. 

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’ money can be put at risk at any time. They cannot rig games, or cheat their way into getting your money. In fact, if you notice any such practices, and have proof of it, you can hold them accountable for them. 

Legal betting platforms also bar employees from taking part in their games, since that can very easily lead to someone abusing the system. On platforms like king exchange betting, the owners were caught engaging in fixing results, rigging games, and defrauding players. This is impossible for a legal betting platform to do due to the stringent rules in place.

Moreover, due to the RTP or return to player percentages, Casinos and sports betting sites have to return most of the deposit to the players in form of prizes or wins. They do this through cash-backs, legitimate bonuses, and more. 

Betting on legal platforms thus not only safeguards you from cheating or fraud, it even safeguards you from losing too much. 

Dedicated Customer support

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

More-than-just-Cricket-Betting-available

Cricket

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. 

Football

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. 

Lawn Tennis

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. 

Political Elections

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?

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 King Exchange Alternatives

  • 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 money. 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. 

The website also has ‘play safe’ tools in place. This ensures that if someone is struggling with a gambling addiction, the website will help that player put limits to their accounts that cannot be removed without the company’s help, and thus keep them from overspending.

Anyone above the age of 18 can register on the website. 

  • 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! 

  1. First, you need to fill in both your first and last name. Put the same spelling you have in any government-issued document. As in, avoid putting pet names, etc. in here. 
  2. Second, you choose your gender from male or female. 
  3. Choose your country from a drop-down menu. This is important as they offer games and payment methods in accordance with the country you have chosen.
  4. Next is your e-mail. This is very important as well since your e-mail is also your username to sign in to the site later on. 
  5. After this, in the next section, you will be asked to create a password. To make sure that the password you create is a strong one, BetShah has some requirements you will need to fulfill. The password must have both uppercase and lowercase letters, and must use a number somewhere. In total, the password should be of atleast 8 characters. Anything shorter will not be accepted by the system. 
  6. Once you have created the password, the next section will ask you to confirm the password you just created. 
  7. Next, you will be asked to submit your phone number along with the country code. Here, it is best to give the phone number attached to either your bank or government documents. 
  8. Next, you can choose from a list of currencies that will be used for all your payment methods.
  9. After this is done, you can apply a bonus code that you may have to get extra benefits!
  10. Last, but not least is having to agree to their terms and conditions as well as their privacy policy. It is strongly recommended you read it thoroughly before checking the box. 

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. The KYC is simple but will ask for proof of age, etc.

Always read the terms and conditions before you join. BetShah has a handy blog where they explain everything, including how bonuses work. Reading it will tell you how to claim bonuses and cashback, so you might be missing out on freebies too by not reading it. 

  • 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. The bonus offers are: 

The sportsbook bonus offers an additional 100% from BetShah of whatever amount players deposit. The maximum Casumo casino will players under this bonus is 9000 INR. To be eligible for this offer, players need to deposit a minimum of just 300 INR

For Casino players, the deposit bonus, the bonus you get as a new player is 100% of the amount players deposit onto the website. The maximum that new players can receive under this bonus is 27000INR. This bonus is given in 3 installments- each installment offer being a maximum of 9000INR

  • Deposit the money

Once you have signed in you can immediately deposit money 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.

  • Start playing

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 King Exchange Alternatives

Deposit-Methods-available-at-King-Exchange-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. 

CryptoCurrency

For the new-age, tech-savvy gambler, cryptocurrency is a very convenient way to make deposits on your favorite websites. Again, you should always check if your preferred currency is available or not, but most portals now accept bitcoins and Ethereum.

Some others like Litecoin etc, are also available on many platforms. 

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. 

For new or casual players, however, these e-wallets tend to be tediously convoluted to use at first. They require players to go through a fairly long verification process before using their platforms.  Despite that, many choose these methods as transfers are easy through both. 

Different Bonuses you can claim at King Exchange Bet Alternatives

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 legal betting site, 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 money 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. 

They will have conditions attached to it, like what odds you can bet on, or the minimum amount. However, these requirements are usually fairly low, with websites keeping the minimum amount bet between 300INR to 500INR. It is always good to go through the Terms and conditions before you place your bet because then you have a roadmap to saving your money while you place your bets. 

Final Words

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 like King Exchange. 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. 

FAQs

King Exchange licensed or not?

No, King Exchange is not licensed.

Who is the owner of King Exchange?

The owner of the King Exchange betting platform was the company called MahadevBook.

How secure are my personal details on King Exchange?

King Exchange is an illegal website so there is no security for your personal details.