Don’t fall for the name, this is one betting exchange you want to stay away from.
Sites such as Lord Exchange have been popular in India for quite some time but be warned, playing at Lord Exchange has several negatives which we shall highlight shortly.
I recommend that you instead focus on the three betting sites mentioned below for your everyday betting needs.
What is Lord Exchange?
Lord Exchange has been a prominent feature in the hearts and minds of punters when it comes to online betting India. It offers as an exchange but also comes with a great selection of betting markets and games. Many have claimed that it offers even better odds when compared to the more traditional betting sites.
The site itself is nicely laid out and is perfect for those looking to start their journey into betting. It offers some of the more recognisable payment options in India including Paytm and GooglePay. It therefore comes as no surprise that the exchange has over 70,000 active bettors.
The new punters are incentivised to create an account with a great welcome bonus whereas older players are showered with promotions including cashbacks, match deposit offers and much more. If those reasons were not enough to entice punters then Lord Exchange even throw in ‘live betting’ allowing users to bet as the game unfolds in front of their very eyes.
Now having read the title of this article you must be thinking that with all the positives listed above, why have I urged you to play with the other betting sites instead. Well, the biggest drawback of using Lord Exchange is that it is illegal. Yup, you read that right. Despite having north of 50K users, this website is extremely dangerous to create an account on. Let’s break down the reasons for it being illegal in greater detail.
No Gambling License
Having a gaming license is an absolute must. When thinking of creating an account with a bookmaker you must check what license they hold. In another article, I spoke in depth about the different gambling licenses that bookmakers can acquire. Getting a license such as UKGC or MGA is not easy.
The bookmaker is required to jump through a ton of hoops ensuring that they are creating a safe and secure environment for their players. Not only that the bookmaker is required to execute a robust Anti Money Laundering (AML) policy. The betting site must also ensure that Know Your Customer (KYC) policies are in place as well.
With the absence of a credible license, the bookmaker is not required to adhere to any of the points above. This is dangerous as you are required to provide sensitive information to the operator. It would be disastrous if the information was to go missing and to land into the wrong hands.
So while the promotions and offers might be extraordinary, the last thing you want to do is provide your credit card numbers to an organisation that might steal your money.
Who are the Owners?
As mentioned above, the job of an A class betting exchange is to provide a safe environment for the punters. The owners, the top management especially must take great care in creating such an environment. This often involves having press conferences or interviews being taken of the owners that show that they are looking after the interest of the punters.
This brings us to the second negative point which is that no one is aware of who the owners are for Lord Exchange. For all we know the owners can be underworld gangsters, money launderers and just outright horrible people. However due to the shady set up of the exchange we will never know who is truly behind this set up.
You may remember that I wrote an article on another exchange similar to this one. King Exchange operated on a similar to Lord Exchange where the bookmaker was also unlicensed. We all know how that story ended where the owners have been caught and are now spending time inside a jail cell. I can only imagine that the same fate is in store for Lord Exchange and it is only a matter of time before the whole operation gets shut down.
On the bright side, there are now tons of legal betting sites operating in India. Casino Days is a perfect example of legit gambling site that offers a fantastic welcome bonus and other goodies such as weekly cashback and daily promotions. 10Cric is another good betting site that is currently being promoted by Universe Boss Chris Gayle that is worth checking out as well.