Laser247 Sportsbook and Betting Exchange: How an Exchange Works, What Commission Costs, and Every Sport You Can Bet On
Laser247 runs two betting products side by side. The exchange is a marketplace where users set the prices and bet against each other, and the platform charges a commission on winnings. The sportsbook is a conventional fixed-odds book where a trading team sets the prices and the margin is built into the odds. This page explains what a betting exchange is, how it differs from a bookmaker, how matching, liability and commission work with worked figures, which product suits which bet, and lists every sport on the platform with the markets offered. It is written by the Laser247 Editorial Team from the platform’s own rules and screens. Laser247 is operated by Sports Target B.V. and is for adults aged 18 and over only. Last reviewed 22 October 2026.
Exchange and sportsbook at a glance
| Item | Exchange | Sportsbook |
| Who sets the price | Other users, by placing back and lay offers | The platform’s trading team |
| How the platform earns | Commission on net winnings per market | Margin built into the odds |
| Bet types | Back and lay on single outcomes; trade in and out | Singles, multiples (accumulators), each-way where offered |
| Maximum stake | Whatever other users are offering at that price | Set per market by the trading team, shown before you confirm |
| Live betting | Yes, with a short bet delay and suspensions | Yes, with a short bet delay and suspensions |
| Cash-out | Yes, by placing the opposite bet | Yes, at the sportsbook’s quoted figure |
| Sports | Cricket, kabaddi, football, tennis, horse racing and the major events in other sports | All of the above plus basketball, volleyball, table tennis, badminton, esports, boxing and MMA |
| Minimum bet | Shown per market; typically ₹100 | Shown per market |
Both products share one Laser247 ID and one rupee wallet. Quick links: create a Laser247 ID · log in · cricket markets · responsible gaming
On this page
- What a betting exchange is
- Exchange versus sportsbook: the differences that matter
- How the exchange works: ladder, matching, liability and price ticks
- Commission: how it is charged, with worked figures
- Every sport on Laser247 and the markets offered
- What the sportsbook adds: fixed odds, multiples and each-way
- Settlement rules common to all sports
- Live betting on both products
- How to place a bet
- Limits, fees and timings
- Responsible betting across many sports
- About this page and sources
- Frequently asked questions
What a betting exchange is
A betting exchange is a marketplace for bets. Instead of a bookmaker offering you a price and taking the other side, the exchange shows you prices offered by other users and matches you with one of them. If you want India to win at 1.90, you need another user willing to lay India at 1.90, that is, to bet that India will not win. The exchange holds both stakes, settles the market on the official result, and pays the winner less a commission. The exchange itself has no interest in which side wins.
Two things follow from that structure. Prices on an exchange are usually closer to the true probability than a bookmaker’s, because no margin is built into them; the platform is paid through commission instead. And you can take either side of any bet: you can lay an outcome you think is overpriced, and you can back an outcome, then lay it later at a shorter price to lock in a result before the event ends. That second ability, trading, is what separates exchange betting from everything else.
Where exchanges came from and why India uses them
The first betting exchanges, Flutter, Betfair and Matchbook, appeared in the United Kingdom around the turn of the century; Flutter and Betfair merged in 2001 with Betfair as the surviving exchange. The format spread to cricket because a cricket match has long, continuous periods of play in which the probability of each result changes ball by ball, which is exactly what a traded market rewards. In India the exchange format became the standard way to bet on cricket, and the vocabulary that grew up around it, back, lay, session, fancy, is now what most Indian users mean by betting. Laser247 has operated an exchange and a sportsbook for users in India since 2023; the company details are on the about page.
What an exchange is not
An exchange is not a tipping service, and it does not predict results; the prices are the aggregate view of the users on it. It is not a casino: there is no house edge in the prices, only the commission. And it is personal: your Laser247 ID has its own wallet and KYC, and nobody else may place bets or withdraw on it.
Exchange versus sportsbook: the differences that matter
The two products answer different needs. The table sets out the differences a bettor feels, followed by which to use for which bet.
| Question | Exchange | Sportsbook |
| Can I bet against an outcome? | Yes, by laying it | No; you can only back an outcome |
| Is my bet certain to be accepted? | Only once another user matches it; a bet at a price nobody offers stays unmatched | Yes, at the quoted price, up to the stake limit |
| Can I combine selections? | No; each market is traded alone | Yes; multiples across events |
| What does the platform charge? | Commission on net winnings in the market; nothing on a losing market | Nothing separately; the margin is in the price |
| How good are the prices? | Best back and lay prices usually add up to a little over 100% on liquid markets | Prices add up to more than 100%; the excess is the margin, typically larger on smaller sports |
| How big can I bet? | As much as other users are offering at that price; deep on cricket and football, shallow on minor sports | Up to the market limit set by the trading team |
| Can I close a bet early? | Yes, by placing the opposite bet yourself or with cash-out | Yes, with cash-out at the sportsbook’s figure |
| What happens in play? | Prices move with every event; you trade against other users | Prices move; you bet against the book |
When to use the exchange
- Any bet you may want to trade out of before the result, such as a pre-match back you plan to lay after a good start.
- Any view that something will not happen, which is a lay.
- Large stakes on liquid markets, where the exchange price is better and the size is available.
- Cricket sessions and fancy markets, which are traded ball by ball.
When to use the sportsbook
- A multiple across several events, which the exchange cannot do.
- A single bet on a minor sport or a small competition where the exchange market is thin or empty.
- A bet you want accepted immediately at a known price without watching for a match.
- Each-way bets in horse racing where offered.
Many users keep both habits: a pre-match multiple on the sportsbook for the weekend’s football, and exchange trades on the India match in the evening. Nothing stops you doing both from one wallet.
How the exchange works: ladder, matching, liability and price ticks
The ladder
Each outcome in an exchange market shows a column of back prices and a column of lay prices, with the amount of money available at each. The best back price is the highest price someone will lay you; the best lay price is the lowest price someone will back at. The gap between them is the spread. On an India cricket match the spread is usually one tick; on a minor tennis match it can be several.
Matching
A bet exists only once it is matched. If you back at the best available price, it matches immediately for as much as is offered there; any excess stake stays unmatched at your price until someone takes it or you cancel. If you ask for a better price than is available, the whole bet waits as unmatched. Partial matching is normal: a ₹10,000 back at 1.90 can match ₹6,000 immediately and leave ₹4,000 waiting. Unmatched bets can be edited or cancelled at any time, subject to the in-play delay, and are cancelled automatically when the market closes.
Liability
On a back bet your risk is the stake. On a lay bet your risk is the liability: stake × (price − 1). Laying ₹1,000 at 4.00 risks ₹3,000 to win ₹1,000. The liability is reserved from your balance when the lay is matched and released at settlement. If you have several bets in one market, the platform shows your net position on each outcome, which is what matters.
Price ticks
Exchange prices move in fixed steps that get larger as the price rises. The ladder below is the standard exchange ladder; where a market shows different increments, the market’s own ladder applies.
| Price range | Tick size | Example steps |
| 1.01 to 2.00 | 0.01 | 1.90, 1.91, 1.92 |
| 2.00 to 3.00 | 0.02 | 2.50, 2.52, 2.54 |
| 3.00 to 4.00 | 0.05 | 3.50, 3.55, 3.60 |
| 4.00 to 6.00 | 0.10 | 4.50, 4.60, 4.70 |
| 6.00 to 10.00 | 0.20 | 7.00, 7.20, 7.40 |
| 10.00 to 20.00 | 0.50 | 12.00, 12.50, 13.00 |
| 20.00 to 30.00 | 1.00 | 22, 23, 24 |
| 30.00 to 50.00 | 2.00 | 34, 36, 38 |
| 50.00 to 100.00 | 5.00 | 60, 65, 70 |
| 100.00 to 1000.00 | 10.00 | 110, 120, 130 |
Tick size matters for trading: one tick at 1.50 is 0.01, about 0.7% of the price, while one tick at 4.00 is 0.10, or 2.5%. A trade that needs the price to move three ticks is much easier at 1.50 than at 4.00.
Trading out: the one formula
To close a back bet, lay the same outcome for stake × back price ÷ current lay price. To close a lay bet, back the same outcome for stake × lay price ÷ current back price. The result is the same whichever side wins. Worked examples for cricket are on the cricket betting page and for kabaddi on the kabaddi betting page.
Commission: how it is charged, with worked figures
Commission is the exchange’s only charge. The rules are simple and the same on every market.
| Rule | Detail |
| What it is charged on | Net winnings in a market: all your matched bets in that market are netted, and commission applies to the profit, if any |
| When nothing is charged | A market in which you lose, or break even, carries no commission |
| Where the rate is shown | On each market before you bet, and in Account; the rate is lower on higher Club tiers |
| When it is deducted | At settlement, before the winnings are credited to the wallet |
| Sportsbook | No commission; the margin is inside the fixed odds |
What commission costs at different rates
The figures below use example rates to show the arithmetic. Your rate is the one shown on the market.
| Net profit in the market | At 2% | At 3% | At 5% |
| ₹500 | ₹490 credited | ₹485 credited | ₹475 credited |
| ₹2,000 | ₹1,960 | ₹1,940 | ₹1,900 |
| ₹10,000 | ₹9,800 | ₹9,700 | ₹9,500 |
| −₹2,000 (a losing market) | No charge | No charge | No charge |
Why an exchange price plus commission usually still beats a bookmaker
Compare a two-way market. A sportsbook prices both sides at 1.87, which adds up to about 107%, so the margin is about 7%. The exchange shows 1.95 on each side, which adds up to about 102.6%, with commission on winnings on top. Backing ₹1,000 and winning returns ₹870 profit at the sportsbook, and ₹950 less 3% commission, or ₹921.50, on the exchange. The exchange user keeps about ₹51 more on a winning bet of this size and pays nothing extra on a losing one. The gap is larger on sports where sportsbook margins are higher, and smaller on very short prices, where commission on a small profit is a larger share of the return.
Netting inside a market
Because commission is on net winnings per market, a trade that backs and lays the same outcome is charged once, on the locked-in profit, not on each leg. Backing India for ₹5,000 at 1.90 and laying for ₹6,552 at 1.45 locks in about ₹1,552; commission applies to that figure. If the trade had locked in a loss, nothing would be charged. This is why trading on the exchange is cheaper than it looks from the rate alone.
Club tiers
The Laser247 Club gives lower commission rates and other benefits as turnover rises. The thresholds and the rate for each tier are on the Club page; the rate that applies to you is shown in Account and on each market, and it changes automatically when your tier changes.
Every sport on Laser247 and the markets offered
The index below lists each sport, which product carries it, the markets normally offered on a main event, and whether it is live. Market counts are typical for a televised fixture and rise sharply for major events; a minor fixture may carry only the main market. Each sport with its own page is linked.
| Sport | Exchange | Sportsbook | Markets on a main event | Live |
| Cricket | Yes, deepest liquidity | Yes | Match odds, tied match, toss, innings runs, session (over-block) lines, batter runs, bowler wickets, fall of wicket, partnership, match sixes, outrights; 30 or more on an international, more on an IPL match | Ball by ball |
| Kabaddi | Yes | Yes | Match winner, points handicap, total points, first-half winner, team totals, raid and tackle points, top raider, super raids, all-outs, outright; about 10 on a PKL match | Yes |
| Football | Yes on top leagues and internationals | Yes | Match odds, draw no bet, over/under goals, both teams to score, correct score, Asian handicap, half-time result, first-half goals, team goals, outrights; 30 or more on a top-league match | Yes |
| Tennis | Yes on tour-level matches | Yes | Match winner, set betting, total games, game handicap, first set winner; 10 to 15 on a tour match, more at Grand Slams | Point by point |
| Horse racing | Yes, win and place on Indian and major overseas meetings | Yes, including each-way where offered | Win, place, each-way; 2 to 3 per race | Pre-race, and in-running where offered |
| Greyhound racing | Limited | Yes | Win, place; 2 per race | Pre-race |
| Basketball | Major games only | Yes | Money line, points spread, total points, quarter and half markets; 8 to 10 on an NBA game | Yes |
| Volleyball | No | Yes | Match winner, set handicap, total points; 3 to 5 | Yes on televised events |
| Table tennis | No | Yes | Match winner, set handicap, total points; 3 to 5 | Yes on televised events |
| Badminton | No | Yes | Match winner, game handicap, total points; 3 to 5 | Yes on televised events |
| Esports | No | Yes | Match winner, map handicap, total maps; 3 to 6 | Varies |
| Boxing and MMA | Major bouts only | Yes | Fight winner, method of victory, round betting, total rounds; 4 to 8 | Pre-fight, limited in play |
| Fantasy | Not a market | Not a market | Contest-based fantasy cricket, kabaddi and football with scoring tables, run as a separate product | No |
What is listed on a given day depends on the fixtures and on liquidity. Cricket, kabaddi, football and tennis have dedicated pages with their market rules; the live matches page shows this week’s cricket fixtures with the markets open on each.
What the sportsbook adds: fixed odds, multiples and each-way
The sportsbook is the simpler product. You see a price, you stake, the bet is accepted at that price up to the market limit, and it settles on the result. Three features make it worth using alongside the exchange.
Fixed odds
The price you take is the price you get, however the market moves afterwards. There is no matching and no unmatched state. The trading team moves prices with the market, so the sportsbook price is normally close to the exchange price less the margin, and on minor sports it is often the only price available.
Multiples
A multiple, or accumulator, combines selections from different events into one bet. All must win for the bet to win, and the prices multiply.
| Leg | Selection | Price |
| 1 | India to beat New Zealand (T20I) | 1.80 |
| 2 | Over 2.5 goals in an ISL match | 1.60 |
| 3 | A tennis underdog to win | 2.00 |
| Combined price (1.80 × 1.60 × 2.00) | 5.76 | |
| Return on a ₹500 stake if all three win | ₹2,880 | |
The combined price looks generous because the margin on each leg compounds: three legs with a 5% margin each carry roughly a 15% margin in total. A multiple is a bet on several things at once, not a way to get better odds. If one leg is void, for example a postponed match, that leg is settled at 1.00 and the rest of the multiple stands.
Each-way
Offered in horse racing where the market shows it. An each-way bet is two bets of equal stake: one to win, one to place, with the place part paid at a fraction of the win odds set on the market, typically a quarter or a fifth depending on the field size. The horse racing page covers place terms and deductions for non-runners.
Sportsbook cash-out
The sportsbook quotes a cash-out figure on open singles and multiples where it offers the feature. The figure is the sportsbook’s own valuation and includes its margin, so it is usually a little less than the equivalent exchange trade would return. It is not offered while a market is suspended.
Settlement rules common to all sports
Each market carries its own rule note, and the note is the authority. The rules below apply across sports unless the note says otherwise, and they cover most queries that reach support.
| Situation | Rule |
| Event postponed | Bets stand if the event is completed within 48 hours of the original start; otherwise void and stakes returned |
| Event abandoned before a result | Markets already decided, such as first-half result or a completed session, stand; the rest are void |
| Result changed after the event | Settlement follows the result declared at the time by the governing body; later disqualifications or appeals do not change it |
| Dead heat | Stakes are divided by the number of tied selections and settled at full odds on the divided stake |
| Named player does not take part | Player markets are void |
| Outright markets | All-in, run or not: a selection that withdraws before the competition is a losing bet, except where the rule note gives a refund |
| Horse racing non-runner | Bets on the non-runner are void; winning bets in the same race may carry a deduction under the rule shown on the market |
| Venue change | Bets stand unless the home team becomes the away team or the event moves to another country |
| Obvious price error | Bets matched or accepted at a clearly wrong price may be voided under the palpable-error rule in the terms, on both sides of the bet |
| Exchange market close | Unmatched bets are cancelled when the market closes; matched bets settle on the result |
To query a settlement, open chat with the market name, the bet ID and the official source you are relying on. Queries are checked against the governing body’s official result; the escalation path is on the support page, and the full terms are on the terms page.
Live betting on both products
Both the exchange and the sportsbook run in play. The mechanics are the same, and they are what new users most often misread.
| Mechanic | Exchange | Sportsbook |
| Bet delay | A new bet or cancellation is held for a few seconds before it reaches the market, so that a user with a faster feed cannot act on an event that has already happened; the delay is shown on the market | The same delay applies before a bet is accepted; if the price changes during the delay, the bet is re-offered at the new price |
| Suspension | Automatic at goals, wickets, points, reviews and interruptions; unmatched bets stay on the ladder through it unless you cancel them | Automatic at the same events; no bets accepted until the market reopens |
| Feed lag | Television runs several seconds behind the ground and streaming apps often 20 to 60 seconds behind; the platform’s scorecard is the reference, not the picture | |
| Closing a bet | Place the opposite bet yourself at your price, or use cash-out at the best available price | Cash-out at the sportsbook’s quoted figure, where offered |
A practical rule: on a fast connection and a liquid market, trade the exchange, where you choose the price; on a slow connection or a thin market, take the sportsbook’s fixed price and stop watching the ladder. The sport pages explain the live mechanics specific to each game, including the phases in which prices move most.
How to place a bet on the exchange or the sportsbook
From registration to a first bet usually takes under 15 minutes when the deposit is by UPI. The steps are the same on the website and the Android app.
- Create a Laser247 ID. Register with your mobile number and the OTP sent to it, then set a password. The registration steps with screenshots are on the Laser247 ID page; the register page covers each form field.
- Complete KYC. Upload a government ID and a selfie from the account screen. KYC is required before the first withdrawal, so do it on day one.
- Deposit by UPI. Open a deposit request, pay the exact amount shown to the UPI ID or QR code, and keep the UTR. Most UPI deposits credit within minutes.
- Choose Exchange or Sportsbook. Open Exchange for user-set prices with back and lay, or Sportsbook for fixed odds and multiples. Both use the same wallet, and a bet placed on one shows in the same bet history.
- Pick a market and place the bet. On the exchange choose Back or Lay, enter the stake and check the liability shown before confirming. On the sportsbook add selections to the bet slip, choose single or multiple, and enter the stake; the return is shown before you confirm.
- Confirm and manage the position. An exchange bet is matched when another user takes the other side, and an unmatched bet can be edited or cancelled. A sportsbook bet is accepted at once. Use cash-out, or the opposite exchange bet, to close a position before the result.
If a login fails or an OTP does not arrive, the login page lists the fixes in order. The app page covers the Android install and the home-screen shortcut on iPhone.
Limits, fees and timings
Figures are those shown inside the platform when this page was reviewed. Where a figure depends on your Club tier, the payment partner or liquidity, the platform screen is the authority.
| Item | Exchange | Sportsbook |
| Minimum bet | Shown per market; typically ₹100 | Shown per market |
| Maximum bet | The amount other users offer at that price | Set per market by the trading team and shown before you confirm |
| Charge | Commission on net winnings per market; rate shown on the market | None separately; margin in the odds |
| Price range | 1.01 to 1000 | Set by the trading team |
| Settlement | Within minutes of the official result | Within minutes of the official result; multiples settle when the last leg does |
| Liability or stake hold | Lay liability reserved while the market is open | Stake deducted at placement |
| Deposit methods | UPI (Google Pay, PhonePe, Paytm, BHIM, bank apps), IMPS, NEFT or RTGS bank transfer; no fee from Laser247 | |
| Withdrawals | Minimum ₹500 to a UPI ID or bank account in your name; no fee; UPI mostly within an hour, bank transfer within 24 hours on working days; KYC required before the first withdrawal | |
Deposit rules that catch people out, and the reasons a withdrawal is held, are on the home page. Bonus funds follow the rollover terms on the bonuses page, and turnover on the exchange and the sportsbook may count differently towards rollover; the promotion’s terms say which.
Responsible betting across many sports
A platform with a dozen sports has a market open at almost every hour. That is convenient and it is the risk: there is always another event, and the decision to bet on a table tennis match at 2 a.m. is rarely a considered one. The rules below are about behaviour, not predictions.
- Bet on sports you follow. The markets on minor sports are priced by people who follow them; if you do not, the price is better informed than you are.
- Fix a bankroll per month and stake 1 to 2% of it on any single market. Count lay liability, not stake, on the exchange.
- Keep multiples small. The margin compounds with each leg, and a long accumulator is a lottery ticket with a worse price.
- Set a deposit limit now. It applies immediately, and a request to raise it waits for a cooling-off period, which is the point.
| Tool | What it does |
| Deposit limit | Caps deposits per day, week or month |
| Loss limit | Stops further bets once net losses in the period reach your figure |
| Session reminder | Shows time played and net result at the interval you choose |
| Time-out | Locks betting and deposits for the period you choose; withdrawals still work |
| Self-exclusion | Closes the account for the period you choose, up to permanently |
Set any of them under Account and then Responsible Gaming, or ask support to apply one. If betting is causing you problems, free help is available in India from Tele-MANAS on 14416, the Vandrevala Foundation on +91 9999 666 555 and iCall on +91 9152987821. The responsible gaming page has the warning signs and the company’s commitments. Laser247 is for adults aged 18 and over only, and betting law in India is a state matter: check the law where you are before you register.
About this page and sources
Written by the Laser247 Editorial Team, the content team of Sports Target B.V., which operates the platform. Product rules, limits, the price ladder and commission mechanics are taken from the platform’s own market notes, terms and account screens; example rates and margins are illustrations and are labelled as such. Background on betting exchanges is taken from the source below, opened on 22 October 2026. The page is reviewed when a product rule changes. Questions and corrections go to the contact page; company details are on the about page.
- Betting exchange (definition, early exchanges, commission on net winnings, overround)
- Laser247 terms and conditions (settlement and palpable-error rules)
- Tele-MANAS, Ministry of Health and Family Welfare (helpline 14416)
Frequently asked questions about the Laser247 exchange and sportsbook
What is a betting exchange?
A betting exchange is a marketplace where users bet against each other instead of against a bookmaker. You can back an outcome, or lay it, meaning bet that it will not happen. The exchange matches a backer with a layer, settles the market on the official result and charges a commission on the winner's net profit. Prices are set by users, so there is no bookmaker margin in them.
How does exchange commission work?
Commission is charged on your net winnings in a market, after all your matched bets in that market are netted. A losing market carries no commission. The rate is shown on each market and in Account, and it is lower on higher Club tiers. It is deducted at settlement before winnings are credited.
What is the difference between the exchange and the sportsbook?
On the exchange other users set the prices, you can back or lay, your bet must be matched by someone else, and the platform charges commission on winnings. On the sportsbook the trading team sets fixed prices, you can only back, the bet is accepted immediately up to the market limit, you can combine selections into multiples, and the margin is inside the odds.
What does laying a bet mean?
Laying is betting that an outcome will not happen. You take the role of the bookmaker for that bet. Your risk is the liability, which is stake × (price − 1): laying ₹1,000 at 4.00 risks ₹3,000 to win ₹1,000. The liability is reserved from your balance until the market settles.
Why is my exchange bet unmatched?
An exchange bet exists only when another user accepts your price. If you asked for a better price than anyone is offering, the bet waits on the ladder until the market reaches it. You can leave it, change the price or cancel it. Taking the best available price matches immediately, up to the amount offered there.
Is Laser247 a betting exchange in India?
Laser247 operates a betting exchange and a fixed-odds sportsbook for users in India, with the platform at laser247.online. It is operated by Sports Target B.V., a company incorporated and regulated in Curaçao, since 2023. Betting law in India is a state matter; check the law in your state before registering.
Which sports can I bet on?
Cricket, kabaddi, football, tennis and horse racing on both the exchange and the sportsbook, plus greyhound racing, basketball, volleyball, table tennis, badminton, esports, boxing and MMA on the sportsbook. Fantasy cricket, kabaddi and football run as a separate contest-based product.
Can I place an accumulator on the exchange?
No. Each exchange market is traded on its own. Multiples across several events are a sportsbook feature: the prices multiply and every leg must win. A void leg is settled at 1.00 and the rest of the multiple stands.
How does cash-out work?
On the exchange, cash-out places the opposite bet for you at the best available price, sized so that your result is the same whichever side wins; you can do the same manually at your own price. On the sportsbook, cash-out pays the sportsbook's quoted figure. Neither is available while the market is suspended.
What is the minimum and maximum bet?
The minimum is shown per market and is typically ₹100 on exchange markets. The exchange maximum is whatever other users are offering at that price; the sportsbook maximum is set per market by the trading team and shown before you confirm.
What are price ticks on the exchange?
Exchange prices move in fixed steps that grow with the price: 0.01 between 1.01 and 2.00, 0.02 up to 3.00, 0.05 up to 4.00, 0.10 up to 6.00, and so on up to 10.00 steps above 100. A trade that needs the price to move three ticks is easier at a short price than a long one.
What happens if a match is postponed or abandoned?
A postponed event stands if it is completed within 48 hours of the original start; otherwise bets are void and stakes returned. In an abandoned event, markets already decided stand and the rest are void. Each market's rule note is the authority, and it is shown before you bet.
