Rise and Fall of King Exchange

It is a funny time to be alive. The entire world is in the grips of a pandemic that has devastated entire nations. What started off as a distant threat in China has now managed to get the attention of the entire world. Countries and their economies have taken a nosedive with many businesses being unable to cope with the threat brought in by the coronavirus. However, despite the mayhem caused by the virus, there is one industry that has flourished. We are talking about the gambling industry of course and more specifically the online one.

When you mention the word gambling, one naturally thinks of gambling meccas such as Las Vegas , United Kingdom and Germany. Over the years, these gambling hubs have been hit by strict data collection laws and other regulations which means that it has become increasingly difficult for operators to offer their products to customers. This has seen a mass exodus of some prominent brands who have started to search for newer locations to offer their products.

India is turning out to be one such location and a lucrative one as well. Home to more than a billion people, India has always had a love hate relationship with gambling. Once considered a part of society, gambling was deemed an evil by the British and was banned as per the Gambling Act of 1867. This meant that anyone caught offering or engaging in gambling related activities would be fined and sent to jail as well. Fast forward to now and that antiquated law is still being used to govern the gambling activities in India.

The illegal nature of gambling in India has given birth to several outfits that operate underground and offer both betting and casino games to the punters. One such organisation was the King Exchange that was set up to provide cricket betting options to the punters. Their operations were then expanded to include casino games as well. However, being illegal in nature meant that King Exchange operated without a license. This meant that every punter that was placing bets via this outfit was doing so at their own risk. There was no guarantee that the bets would be honored and that in the event of you winning, you would actually receive the funds. King Exchange were also convicted of using the funds for match fixing activities which as we all know have haunted Indian cricket since the dawn of time.

In conclusion, the folks behind King Exchange have rightfully been put behind bars. The good news is that there are plenty of foreign betting sites that have entered the market. The biggest difference between them and King Exchange is that the former is licensed by either UKGC / MGA or Curacao. This means that your hard-earned money will be dealt with safely and securely. In case you do run into any issues, you can always contact their professional customer support team who will be able to sort you out in no time!

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