King Exchange is an online betting and casino portal. They sign up players with IDs sent over WhatsApp, and most play through a VPN server. The site was run by a group called the Mahadev Book team, but they were arrested for running illegal activities.
Most players come on the site for higher odds and bigger margins. However, as most have seen, that isn’t the case.
Is King exchange legal?
King exchange is banned in India. They do not have any licensing or registration that allows them to run a gambling, betting, or casino business. The owners were caught for their illegal gambling ring, for rigging bets, and committing financial fraud.
They were caught with multiple bank accounts, names of their clients, along with a whole lot of cash.
Except for a few states, India does not allow casinos to set up business within the country. Legal gambling sites are all set up in foreign countries with registrations from them.
Casinofox.in has also listed many alternatives for king exchange which are gaining popularity in India now. There are many google reviews of the Kingexchange casino, which you can read anytime. You can even find positive reviews of Kingexchange on other websites.
How to sign up and bet on King exchange?
To play on King exchange, there is no straightforward way to sign-up. You need to go to their website and text them through WhatsApp on the number given. Someone from the team will get in touch with you to give you an ID.
What are the risks of playing with King Exchange?
- No security
The biggest risk with playing on a site like King exchange is the utter lack of security. Their web page is unsecured and has no SSL certification. This means that it can be hacked, your private information can be stolen, the website can be infested with viruses, and most of all, your money has no security.
Moreover, since players get their IDs through unknown parties over WhatsApp, there is no guarantee that you will ever get your money, or your winnings back. Your bank or Paytm data is also open for hackers or 3rd party users to see since there is no measure of protection applied on the website. They can steal your financial and KYC data and use it for their own ends.
- No license
Having a license and registration with a country’s commission means that there are a ton of legal protocols safeguarding the player’s interests, and keeping casinos from committing fraud. From privacy policies to mental health, these laws cover it all. Casinos have been taken to court in the past for not living up to the law.
Moreover, for getting registered, casinos and bookies have to go through extensive checks proving that they adhere to the law. Without these checks in place, they can defraud anyone they like, refuse to return your money, or simply block you from the site when they want.
Being without a license also often means that they are left without data protection, and that, more often than not, attracts hackers who can easily steal sensitive information from the site. It also means that bookies can advertise one thing and not keep their promise later on.
Why is King Exchange so Popular?
1. Old site
King Exchange is an old site that has been around for a while. They served a wholly Indian audience and made things familiar for them when foreign casinos did not. They focused on bets for Cricket, which has always been incredibly popular with Indian audiences while others focused more on football, baseball, and other games.
They also gave options to bet on familiar, Indian players who weren’t available on foreign databases. Moreover, they accepted Indian rupees, whereas most foreign casinos did not do so.
Today, all that has changed as many legal sites that are registered in foreign countries are built specifically for an Indian audience and accept INR payments. With Paytm, Gpay, etc coming into existence, payments on such casinos have become very easy. Moreover, most now have Indian games, many of which are also available in local Indian languages.
2. Fake IDs
King exchange works on getting a new ID. Most people think that this will help them circumvent the legalities of playing on a site like King exchange or get a free bonus for each sign-up. However, the problem with that is simple. These IDs are totally in the hands of the people who run the casino. They can delete your ID when they want, and since they work only through WhatsApp, block your number associated with the ID. This means that your money is at the mercy of King Exchange.
Secondly, you might have to pay extra for these IDs when most legal casinos allow you to play for free.
3. Higher betting odds
The amount you can win from an illegal betting site versus what you can make on a legal one can differ exponentially. Most sites like King Exchange promise much greater odds and chances of winning. This is possible because they don’t have to pay licensing fees, or pay for legal software, and thus they can give players the extra money.
That might sound too good to be true because it is. Since sites such as these do not have any regulations, they can apply low rates of return, block you, rig their games, or simply use insider trading to allow the house to win much more with your money.
How to find alternatives for King Exchange?
Today, as the online casino industry is booming, it is very easy to find alternatives to King Exchange. There are strict laws surrounding online casinos, and as long as you know the things to look out for, it can be easy to find a good, legal site as opposed to King Exchange.
- Security and fraud protection
Legal sites have extensive tools in place to keep players safe from fraud and privacy issues. The website itself uses SSL protection, firewalls, and more to make sure that viruses or hackers can’t get through.
Secondly, their money is protected using the same software systems that banks use to safeguard your money.
Most licensing bodies have laws in place to protect users’ money. They have rules for protecting free bonuses, and your winnings. If a casino does not follow the rules, it can have its license taken back, and be at the mercy of a massive lawsuit.
They also have rules against being