Betting exchanges offer sports bettors the promise of a fair chance at making betting profits, without the worry of restrictions. However, not all countries can access a betting exchange such as Betfair, and that promise of no limitations!
Well once you hit the premium charge, that’s not really true.
If you can’t access Betfair in your country or have hit premium charges what are the alternatives available?
In today’s article, we are going to take a look at the Orbit betting exchange, which could provide you with all the answers you are looking for!
How Does Orbit Betting Exchange Work?
The Orbit Exchange emerged in 2017 and quickly ascended to prominence. Its rapid rise can be attributed to the backing of Betfair, a renowned exchange platform.
The creation of the Orbit Exchange was in response to the widespread frustrations among players who were barred from accessing Betfair due to geographical restrictions. Orbit was created as a solution to these accessibility issues.
Orbit mirrors Betfair in many aspects. Including odds, events, liquidity, and an array of other features. The platform offers a vast selection of sports and betting options, catering to the average sports bettor and advanced sports trader.
If you are familiar with the layout of Betfair then it will take you very little to adjust to the Orbit Exchange…
It stands out in the competitive betting exchange market with its substantial liquidity and superior odds. Additionally, its commission rates are notably lower and more user-friendly compared to those of Betfair.
How legitimate is the Orbit Exchange?
Access to the Orbit exchange comes through the betting broker BetinAsia.
BetinAsia are one of the longest-running betting brokers in the world established in 2011, they have been offering their services for close to 13 years now. Allowing access to both the orbit exchange and multiple Asian bookmakers they are respected as one of the most trustworthy betting brokers currently available.
Registration and Promotions
Promotions with the Orbit Exchange can differ depending on your country. Due to Betfair’s ongoing efforts to lift restrictions in various countries, Orbit Exchange doesn’t offer direct registration. Instead, access is granted through a betting broker or agent.
You might wonder why a broker or agent is necessary to use Orbit. The reason is simple: it minimizes the likelihood of facing access restrictions. Brokers act as middlemen.
To register, you’ll need to employ a broker or agent who operates legally within your country. This approach ensures that you’re accessing the platform through a legitimate channel, thereby granting you full access.
So, how does this setup impact promotions at Orbit Exchange?
Firstly, it means that the availability of promotions is highly dependent on individual circumstances. Orbit Exchange, as a standalone platform, currently does not provide any promotions.
However, the brokers or agents you use to access Orbit may offer their own unique bonuses or special deals.
We’ve got a separate article that explains the benefits of using a betting broker here.
Orbit Exchange Commission and Liquidity:
Commission rates are a common grievance among players using betting exchanges. While it’s understandably frustrating to see a portion of your winnings deducted, it’s important to recognize that these fees are a primary revenue source for these platforms, enabling them to operate profitably.
However sports bettors and traders that are looking to be profitable, we always have to see where can get the best deal.
The extent of these charges can vary significantly between different brands. Some exchanges impose exorbitant fees if you are a winning player and some countries also have a higher base rate of commission than others.
In contrast, the Orbit Exchange demonstrates a more considerate approach towards its users. Orbit opts for a modest commission rate. Charging only 3% on winnings. This reduced commission rate is a notable advantage for users, especially when compared to premium charge rates implemented by other exchanges.
Does the orbit exchange have premium charges?
Those familiar with Betfair’s model will be aware of premium charges. premium charges are increased commission rates as you become more successful with top-tier rates at 60%. These charges are seen as a way for Betfair to benefit from the high profitability of successful bettors.
In contrast, Orbit Exchange takes a different stance. They do not enforce any premium charges, regardless of how consistently a user wins.
This policy ensures that successful bettors can enjoy their winnings without the concern of additional fees cutting into their profits. This absence of premium charges is a key differentiator for Orbit and is likely appreciated by those who trade frequently and successfully.
Minimum and Maximum stakes on the Orbit Exchange
The minimum bet amount you can make on the Orbit Exchange is 7 Euros. Maximum stakes on the Orbit exchange will be dependent on the liquidity of the event that you are placing bets on. There is also an exposure limit with the orbit exchange which you can set and adjust in your account settings.
Liquidity is a crucial factor in betting exchanges, as it refers to the amount of money available for betting within the platform. High liquidity is essential because it directly influences the odds and the ability to trade effectively. Exchanges with low liquidity often face challenges in offering competitive odds and ensuring timely payouts.
For those concerned specifically about liquidity, the Orbit Exchange is a reliable choice. Despite being established relatively recently in 2017, the platform has successfully avoided the liquidity issues that newer brands typically face.
Orbit leverages the same liquidity pool as Betfair, which is one of the largest and most established betting exchanges in the world. Betfair’s strong financial footing and high liquidity levels virtually eliminate the risk of liquidity issues for Orbit. In some instances, Orbit even offers better odds than Betfair.
Betting Options on Orbit
Orbit Exchange distinguishes itself in the betting exchange market through its extensive range of betting options, a feature largely attributed to its affiliation with Betfair. This partnership allows Orbit to offer betting markets across more than 30 sports, placing it significantly ahead of many competitors in terms of variety and depth.
A unique aspect of Orbit Exchange is its specialized focus on cricket, evidenced by its dedicated section known as “Cricketbook.” This feature caters specifically to cricket enthusiasts, offering a range of betting options. However, it’s important to note that only backbets are permitted in this cricket-specific section.
Can you place a back bet and lay bet?
The Orbit Exchange functions exactly like Betfair. This means that you can place back bets and lay bets allowing you to trade as you would on Betfair. The only exception is the “Cricketbook” account where only back bets can be placed.
Are Orbit Exchange accounts secure?
Accessing the Orbit Exchange through a reputable and established broker is always going to be the safest way. You can also set up 2-factor authentication on the Orbit Exchange.
What Countries Are Orbit Exchange Restricted?
Orbit Exchange, like many betting platforms, has restrictions in place for certain countries. These restrictions can vary depending on the betting broker or agent through which Orbit Exchange is accessed.
Countries banned from gaining access via BetInAsia:
- United States
- United Kingdom
Users need to be aware of these geographic restrictions as they can significantly impact the ability to access and use Orbit Exchange’s services. These restrictions are often due to legal and regulatory considerations in the respective countries.
Deposits and Withdrawals
The process of depositing and withdrawing funds on Orbit Exchange can differ based on the broker or agent you choose to use. Orbit offers a range of payment options, though the specific methods available to you may depend on your geographical location.
To ensure the safety of your funds, Orbit holds deposited money in a BIA (Betting and Intermediary Account) Wallet. This wallet is designed to safeguard your funds, and in some cases, the platform might require additional confirmations after you make a deposit.
Some of the most commonly used payment methods through Orbit Exchange brokers include:
1. Neteller – A popular e-wallet known for its security and convenience.
2. Skrill – Similar to Neteller, Skrill is widely used for online transactions in betting.
3. Bank Transfer – A traditional method allowing direct transactions from your bank account.
4. Astropay – A virtual prepaid card service, useful for quick and secure online payments.
5. Ecopayz – An e-wallet offering a range of financial services, including fast and safe online transactions.
6. Crypto – Digital currencies like Bitcoin and Ethereum, offering anonymity and quick transfers.
Know Your Customer Checks
Orbit Exchange emphasizes the importance of Know Your Customer (KYC) protocols, ensuring that all users are thoroughly verified.
To pass the KYC check, users are required to provide valid identification. Accepted forms of ID include:
1. Identification Cards (IDs)
2. Driver’s License
3. Recent Utility Bill (to verify your address)
How To Withdraw From Orbit
Withdrawals need to be made using the same payment method used to deposit. They are cleared within a 24 hour period and times that the funds will arrive back in your account can depend on the method used to deposit.
The maximum amount that can be withdrawn in a 24-hour period is capped at 2000 USD.
Orbit Exchange Trading Software and API Access
Currently, there is no option to use third-party software software such as geekstoy with the Orbit Exchange.
Orbit Exchange v Betfair Exchange
Ultimately most of you reading this article will be looking at the Orbit Exchange as an alternative to Betfair.
So how do they compare?
The notable distinction between Orbit and Betfair is in the treatment of consistent winners. Orbit Exchange does not impose any premium charges on users who consistently win. This policy is particularly advantageous for profitable sports bettors, as it allows them to retain a larger portion of their winnings without the concern of additional charges for their success.
If you are also in a country which charges higher than 3% commission, moving over to the Orbit Exchange will be beneficial to your profit line in the long term.