What is King Exchange
King exchange is an illegal, underground gambling portal. They are an online casino and sports betting website. What King Exchange does is give players an off-the-books portal to play with higher odds, and potentially win a lot of non-taxable money.
However, since the owners of Mahadev Bookie, i.e. the parent company, were arrested in 2022, the potholes of an illegal casino have been made clear.
Though King exchange has been popular for Indian casino games, the rising number of complaints against the site, the blatant security issues, and the evident manipulation of games and bets have left many suspicious. They should be too since being associated with sites like King Exchange can put punters in a lot of hot water with law enforcement and the underworld.
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Why King Exchange is Popular
- King exchange allowed higher odds for sports betting since they didn’t have all the extra costs such as licensing, paying legal software providers, etc that legal casinos normally do.
- They allowed betting on almost every aspect of a game or sporting event. From coin tosses to which batsman is more likely to get a 100- everything was on the board.
- As reported by upicasino.com, King exchange accepts all UPI Payments from apps like Gpay, Paytm, and others, etc.
- King exchange is targeted and created for Indians, so many Indian games like Teen Patti, Andar Bahar, and more are available.
- Illegal sites means that players thought they can avoid paying high taxes on gambling winnings, which in India is a whopping 30%
How to play on King Exchange
To sign-up with King exchange, you have to send an SMS to the number that they put up on their website, and ask for an ID. The bookies for the website normally get in touch with the punters through Telegram or Whatsapp. Normally, each ID given works for a total of 24 hours.
Each ID also has to be paid for. They demand that a certain minimum amount for the deposit be paid before getting the ID. Once you have an ID, you can start playing.
For withdrawals, you have to text the same bookie with your ID and the amount to be withdrawn.
When you log in with your new ID and password, you can find the In-Play option that allows you to check out all the games that are being bet on at the moment. King Exchange describes their bets as ‘back’ and ‘lay’ amounts. Lay is how much you can potentially win if the bet is successful. ‘Back’ is how much you have to pay to bet on the event or play. If you win, the amount is added to your main balance which you can withdraw later.
Most players use VPNs to mask their IP address when playing, since being on the site can alert authorities of your illegal activities.
Disadvantages of King Exchange
King Exchange has been negatively reviewed by users and critics. Casinofox.in, a casino review website has reviewed King Exchange, calling them, illegal platform for gambling. They clearly mentioned that it is not safe to play at King Exchange. Below you will find disadvantages of King Exchange.
- Financial Security
Since King Exchange is an illegal site, your money is completely exposed to hackers as well as the ring controlling King Exchange.
There have been many instances where Punters have won a substantial amount at the King Exchange casino or at the betting pool, and have simply been blocked without getting their deposit or winnings returned.
Since the bookies at King Exchange are under no obligation to actually give your money back, they can easily refuse to return money or block you from the site. They can also take the deposit and give you an ID that doesn’t work or rig the verification process to not allow you in.
Moreover, since the website itself has no SSL security, it is a child’s play to hack in and steal all your financial details. It also leaves your information with an underground ring that now knows your number/ Payment IDs/ and other details, which they can use to send black money, or use your account to whitewash their money.
In turn, this puts the players in a very dangerous situation as they could easily come under the scrutiny of law enforcement. This has already happened when the owners of Mahadev book, or the parent company of King Exchange, were apprehended by law enforcement.
They found the names and financial information of the players who played online with them, leading those people to be in trouble too. Information can be masked online, but if your real name, number, and identity are written down, there is not much protecting you from the police.
- No licensing
Licenses for legal casinos set down a long list of rules and regulations that protect the interests of the players. Protecting players from false promises, fraud, and rigged games is why licensing is so important.
With King Exchange, since it is not licensed, there is nowhere to go and complain. There have been cases where legal casinos did not keep up their end of the deal. However, one complaint to a forum or with the licensing body has solved the problem. In the worst-case scenario, these casinos have been dragged to court as well.
With King exchange, none of this is possible. They can rig games, use insider trading to set you up with false odds, refuse to return your money, and more. The players in such a scenario have no legal recourse or help. They are left without support and lose thousands.
In fact, the owners of the company that ran King Exchange were arrested and tried on exactly these charges. They were charged with forgery, insider betting, match-fixing, fraud, and more. Authorities found lakhs of rupees in cash at their residence that they used for their own ends.
- No customer support
Customer Support’s job is to help you out with financial, technical, and a plethora of other issues. However, King Exchange’s main goal was to make money in whichever way possible.
They have no support system to help you with games or withdrawal issues. You are completely at their whims, and if it doesn’t serve them to help you, they won’t. Many players have found themselves blocked or simply dismissed when they have brought up issues in the telegram or whatsaap messages.
Again, due to the illegality of it all, they could also not discuss issues on famous forums or online and get help for it. Players are left high and dry when it came to King Exchange.
Features of King Exchange Alternatives
Legal alternatives to King Exchange are numerous today. There are scores of sites that are licensed and regulated by international bodies for their quality and security. Many of these sites are also built for Indian audiences. You can find games like Teen Patti, Jhandi Munda, Andar Bahar, and much more.
Some sites also come in local languages like Hindi, Bengali, Tamil, and more. Most of these sites today have live casinos with Hindi dealers as well.
Bonuses on such sites are not only real, they are extremely generous when compared with King Exchange. You can get cashback on lost bets, More than 100% matched welcome bonuses, weekly bonuses, and much more.
Third, payments are a breeze for Indian players today on such sites. From GPay to Crypto, everything is accepted. Withdrawals are legal, verified, and totally above board, making it safer for everyone involved.
