PIWI-Xchange  
Betting exchange Review The PIWI-Xchange is a betting exchange. Here you do not bet against a bookmaker, you bet against other customers. Compared with other sport betting providers, the odds at PIWI-Xchange are usually significant higher. All common sports are on offer, international horse racing even with live betting. As you bet against others, it is possible to bet on or against an event, you can make your own odds too. On the same platform is a casino and PIWI247-Sports, where you get normal sports betting on fixed odds. Customer from many countries are not able to bet with Betfair or other betting exchanges, due to their state laws. However, PIWI-Xchange are accepting customer from all nations, also without brokers (intermediaries). Actually, PIWI-Xchange is operated by Befair, which ensures high odds and high liquidity. Negative is the fact that money transfers can only be made via Skrill, Neteller or Bitcoin. For less wealthy customers, the minimum stake of 6 Euro could be rather adverse.

Betting

PIWI-Xchange offers all Sports common bookmakers have on their list. As many customers are from Australia, Cricket and Australian Football are available too, still bets on very low European football leagues are possible. 2.5 percent commission will be charged on winning bets. Horse racing bets are provided on all leading international countries (Australia, England, France, Ireland, New Zealand, South Africa, USA). It is possible to make Live bets (In-Play) on all the races after they have started. The odds are usually a lot higher than at ordinary bookmakers. Wagers on Win and Place are provided, more choices are on offer for Australia and England, like Eachway, Forecast, 2 Places, 4 places etc. Antepost-bets are available for the races in Australia, England and France. Unfortunately, Lay-bets cannot be done on horse racing. So you can only bet on a horse, but not against it. Also on winning horse racing bets 2.5 percent will get deducted. Live bets (In-Play) are possible on Basketball, Cricket, Football (Soccer), Horse racing and even on the very low Football Leagues.

Back and Lay explained

At a conventional bookmaker you can bet on an event at the given odds. At a betting exchange you can bet on an event or against it. Back
A back-bet is the usual, traditional bet that you place at a normal betting provider. For example, you bet that Real Madrid will win the Champions League, you get an odd of 5.10 (example - see graphic). With a stake of 100 Euro, you would have a pure win of 410 Euro. Lay
With a lay-bet, you take the position of the bookmaker, you offer a bet. In the Real Madrid example, you would bet that Real will NOT win the Champions League. If Real wins, you lose 420 Euro. Any other CL-winner would get you a winning of 100 Euro. Own odds
You can offer your own odds too. If you think that 5.10 for Real Madrid is not enough, you could issue an odd of 5.40. This bet would then be in a waiting position, and you hope that another player will take it. Trading bets
Betting exchanges are a perfect place to trade bets. For example, you think an odd of 5.10 for Real Madrid is very good and far too high, so you bet on it. If the odds drop afterwards, you can 'sell' the bet with a lay-bet. Depending on your adjustment, you could then win at any result.

The Website

The desktop version of the PIWI-Xchange is designed clearly and reasoned, you should not have problems to find what you look for. The same is true for PIWI247-Sports. The mobile version is a bit more difficult to navigate. If you want to bet on your smartphone on a sport different from Cricket, Soccer, Horse Racing, you must first click on one of these three sports and then on 'All sports'. From there the navigation is clear again. The Menu of the PIWI-Xchange is the yellow circle on the bottom right. You can get to the Casino or PIWI247-Sport from there, go to Deposit and Withdraw and to the Settings. The Logout is in the Settings... Customers of the PIWI-Xchange are getting logged off automatically in unsteady intervals, so that you have to log in again. This can be pretty inconvenient during e.g. Live betting, why you should make reloads occasionally.

Registration

To sign up at PIWI, you must enter your e-mail address and then click on 'Get Code'. Subsequently, a six-digit numeric code is sent to your e-mail address, which you need to enter into the field 'Email Verifiction Code'. Besides a password, you must enter a phone number. You can choose the country code from a list. If your country code is not available, enter it by hand (or choose a different country). The phone number will not get checked.
Move the 'age-button' to blue and click on 'Sign Up'. The registration is finished and you can start playing.

Boni

The bonus offer at PIWI is not really tremendous. On your first deposit, you can get a 30% Freebet (up to 300 Euro). To gain this freebet you have to deposit at least 100 Euro. You will have to contact the Live Chat and tell them the code PIWINEW300. The amount of the deposit and the bonus has to be wagered five times within 30 days. Wagered odds have to be 1.60 or higher. If you fail to reach the rollover requirement, the bonus (and the winnings) will be considered forfeited. So you may think about, if you really want to use this freebet.

Deposit and Withdraw

Unfortunately money transfers at PIWI are only possible with Skrill, Neteller and Bitcoin, they are at least for free. Once the KYC Verification is passed, withdraws are carried out quickly Deposit
To send money to PIWI you must go to the menu (yellow circle), click on Deposit and on one of the providers, Skrill in this example. Enter the amount and the e-mail address, which you are registered at Skrill and click on 'Request'. Now a field opens, containing the e-mail address of PIWI (see graphic). If you click on 'Dismiss', Skrill will get opened in a new browser window (you could obviously open Skrill in your own browser too). Log into Skrill and transfer the amount via 'Transfer » Skrill to Skrill' to janzovasona7@gmail.com. A few minutes later, the amount will be on your PIWI account. Withdrawal
The withdrawal process is the same as for the deposit. Withdrawals can only be made when you have passed the KYC Verification. To make sure that you are really the owner of the account, your e-mail address will get checked. Therefore, you need to click on 'Get code'. A numeric code will be sent to your e-mail address, which you must to enter into the field 'Email verification code'. PIWI will then transfer the money quickly to your provider. KYC Verification
Due to money laundering laws, a KYC verification is required before you can withdraw money, as it is at any other serious bookmaker. You will have to verify (ID card, passport, driving licence), send a proof of address (bank statement, utility bill of gas, internet, electricity etc.) and take a selfie photo holding your ID-card in your hand. To do that, there is a KYC software provided by PIWI, which you can use on the mobile phone. If that does not work, you can submit the documents also via e-mail. In that case, you might be a bit patient.

Support

You can contact PIWI only via Live Chat. This service is very good and available on seven days of the week for 24 hours. Who does not want to chat in English, can use a different language. A software will then translate the communication

Conclusion

The PIWI-Xchange has some weak points, like the small choice for money transfers. Still this betting exchange is a must for every serious player, as you get the highest odds, are able to lay bets and players from restricted countries are accepted. The approved operators Betfair and Pinnacle stand for integrity and security.