King Exchange – Illegal | Review Legal Betting Sites India

King Exchange alternatives that we recommend for betting

№	Bookmaker	Rating	Bonus	Reviews
1			₹20,000	0	REVIEW BET
2			₹16.000	0	REVIEW BET
3			₹30,000	0	REVIEW BET

Finding an alternative safe option for sports betting in India is not difficult. There are plenty of legal betting sites on our website where you can legally gamble and make money. For example: 1xBet, 4raBet, Pin-Up, Dafabet, 20BET, Funbet, Bet365, Unibet, CampoBet, Parimatch, Fun88, 22Bet, Megapari.
All these betting platforms are all offshore and have obtained their licenses outside India. Therefore, they can legally operate in Indian states where online betting is not banned.
How do you know which site is safe and which is not? It is very easy! You can read the betting sites reviews on our website.
You should also additionally make sure that the chosen gambling establishment meets the requirements for legal operation on the territory of India. In order to do so, check out the features that any legal and safe betting shop should have:

1. License. A betting site must be licensed by an authorized body (e.g. “Gambling Authority”, “Gambling Commission”) to prove legal operations in the gaming industry. Most often betting sites are licensed by bodies from Malta, Curacao and the UK. But local licences are also found in other countries.
2. Confirmation of the authenticity of the KYC data indicated by the user. This procedure allows the administration of the betting sites to make sure that the customer has correctly entered his details and does not intend to use the account for fraudulent purposes. KYC is part of the mandatory procedure for licensed gambling establishments. It is aimed at preventing money laundering. In order to confirm the account, the client has to send two documents to the betting shop administration:
   • an identity document (ID card / passport / driving licence);
   • a document confirming the client’s residence address (utility bill, issued not more than three months ago).
3. Use of data encryption technology to protect the user’s personal and financial information. Usually 128-bit SSL encryption and General Data Protection Regulation (GDPR) are used.
4. A wide range of events with average odds. Too high odds should alert the player. Even the most popular betting sites in the world do not offer their players very high odds on a regular basis. Only a few can offer higher odds during the year, and then only during any promotions or time-limited promotional offers.
5. Positive and negative feedback from other customers. The presence of only praise reviews is always alarming. Even the best betting sites make service mistakes too. However, if a betting site has very frequent reviews about sudden blocking of accounts and impossibility to withdraw money, then it is better to refuse to register with such a site.

Basic information about King Exchange

King Exchange is a very popular Indian betting site in the past. The betting site accepted sports betting from more than 100,000 customers every month. However, in 2021, the site was caught in a fraud, it was shut down and the owners were punished. Therefore, we strongly advise against using clones of the site for sports betting as it is not safe.

The King Exchange betting site lured potential customers with lucrative bets, small withdrawal limits and unrealistically large bonuses.

King Exchange is an illegal Indian betting site that was registered in Hyderabad, Telangana. It is forbidden by law to operate any gambling establishments in this state. In addition, the betting site has operated without a licence throughout its existence, which is unacceptable in India.

In September 2021, the company owner of MahadevBook betting company was accused of fraud and falsification of documents. The King Exchange administration was arrested and punished under the Indian Penal Code laws. The betting website has been removed from search engines.

Until the assets were seized, King Exchange was popular in India. More than 100,000 players were betting on sports on this site every month. The King Exchange site offered its customers lucrative bets on football, basketball, golf, tennis, horse racing, eSports. The casino section offers plenty of gambling games: slots, poker, blackjack, roulette and baccarat.

Apart from a large selection of betting events and an abundance of gambling games, the site attracted Indians with loud promises of earnings and unrealistically large bonuses.

Reasons why you can’t use King Exchange

King Exchange betting site is not safe for Indian betting enthusiasts for the following reasons:

1. Lack of licence.
2. No protection of users’ personal data.
3. No guarantee of withdrawal of winnings.
4. No support service to resolve disputes.

Just listing the reasons doesn’t convince you to give up the idea of using King Exchange. We will give the most reasoned arguments below.

King Exchange Lack of license

It is the existence of an official licence issued to a betting shop by the Gambling Commission or another authorised body that allows you to legalise the right to operate a betting shop or casino. A licence also helps to protect the interests of the players as well as to ensure the transparency of the games and the fairness of the results.
King Exchange does not have a license and its owners have been accused of falsifying betting results, insider trading, cheating and extorting money from players.
There have been known cases where King Exchange users were extorted money to go through the identity verification procedure, which gives access to withdrawal.
At licensed establishments, the KYC (also known as ‘Know Your Customer’) identity verification procedure is always free and mandatory as it helps prevent money laundering and tax evasion.

King Exchange doesn’t protect users’ personal data

An illegal King Exchange betting site does not guarantee the secure storage of the data that customers submit to the site. Secure gambling establishments provide for encryption of sensitive information to protect the personal and financial information of every customer registered with the system. Without encryption, all passport information, financial details, and residency information could be stolen and used for malicious purposes.

No guarantee of withdrawal of winnings

Betting site, whose activities are legal under the rules of the licensing authorities, cannot use the players’ deposits to cover their own costs. That is, if the betting site goes bankrupt, all customers’ money will be saved and can be withdrawn.
King Exchange, on the other hand, has no withdrawal guarantees at all. During the betting site operation many users have complained about unjustified blocking of accounts with frozen money; also the police have confirmed the cases of stealing money from clients’ personal accounts.

There is no support service for dispute resolution

In case of withdrawal problems or suspected fraud during gaming or betting, King Exchange users could not contact support for help. Customers were usually simply ignored.
If players decided to go ahead, there was no help if they went to the police or the courts. Because under Indian law, it was illegal to bet on King Exchange. In addition, the user himself was considered a criminal for the same reason. And it did not matter how much money was stolen from them.

FAQ about King Exchange