Reasons why Sports Betting Industry is booming in India

Cricket is India’s most popular sport. The sport is enthusiastically followed in every part of the country. Football is the second-most-watched sport after cricket. While athletic events have grown in popularity throughout time, the sports betting sector has progressed in the global economy as well.

The online gambling sites business is now one of the world’s fastest-growing sectors. It’s worth noting that the sports betting sector touched the $60 billion mark by the end of 2021. However, only half of that amount of legally wandered. It is also predicted to grow considerably more in the following five years. In India, sports betting has exploded in popularity. People of all age groups tend to use their sport analysis in order to take profits through the sports betting sector.

Fans from all the Indian states have shown an interest in participating in this segment. A wide range of sports betting websites may be found. However, determining which top betting sites are the greatest in the industry is not straightforward. Despite legal concerns, the gambling industry is regarded as a large enterprise. There have been arguments and conversations in India about whether gambling is legal. Despite this, the sports betting industry is growing in popularity.

Some reason why the Sports betting Industry is booming in India are as follows :-

1.      Usage of Mobile Phones

The days of each household having only one phone are long gone. Nowadays, every member of the family has a smart phone in their hands. The majority of Indians own phones, which allows them to download apps from the Google Play store or the apple store. The fundamental reason for the rise in online sports betting in India is that Indians use their mobile phones far more than they do their PCs or laptops.

According to statistics, Indians have been spending one-third of their day on their smart phones since 2020. Several sports betting firms feature mobile apps or websites that are simple to use. Users may learn about all of the leading applications in the sports betting business using guides like cricket betting apps in India. People can easily get information about how to start betting using a smart phone.

2.      The boost from Cricket and Football

Cricket and football, without a doubt, had a significant part in the emergence of sports betting, not only in India but also in every part of the globe. Cricket and football are the most popular sports in India right now. These two sports provided a significant boost to India’s online sports betting business. Many sports prediction websites offer accurate predictions in order to make betting easy for their audience.

3.      Sports Betting to be Legalized soon

For those who are unaware, internet sports betting is not prohibited in India. Sports betting, on the other hand, continues to exist in some uncharted territory. There are no rules prohibiting Indians from utilising online betting services operating in countries where online sports betting is fully permitted. In India, sports betting is considered illegal. As a result, betting sites must be located outside of India in order to be lawful.

There’s also a chance that India would legalise online sports betting in the near future. It’s feasible since the number of Indian sports lovers who want to gamble on sports online has increased dramatically. Be it the youngsters in their 20s or the old age people in their 60s, the sports betting industry attracts everyone to come and win with their ability to analyse the game and gamble.

4.      Betting with the ease of their Home

India’s internet infrastructure has improved to the point where many people are opting to conduct their business online, including sports betting. With 749 million people online, the country is now the second-largest in the world. Approximately 744 million of them would access the internet to try out something new and addictive. This is why internet gambling companies believe the country has such a large betting market.

Many bettors are increasingly migrating to online betting since it has the potential to be highly profitable. It’s easier to browse for odds online because switching from one bookie to another takes less than a minute. Many bettors appreciate variety since they may easily put multiple sorts of bets on a single match. In-play or in-game betting has also become more viable thanks to the internet. Because odds are only accessible for a limited period as a match progresses, this is an extremely competitive sort of betting. This is now something that bettors can enjoy without having to deal with a lot of difficulty.

5.      Continuous Advertisements

The sports betting industry runs several advertisements in order to attract more bettors. The sports betting Industry in India grew drastically in the year 2020. In the year 2020, the Sports betting website Dream 11 decided to sponsor the Indian Premier League. IPL is the most watched cricket league, not only in India but also around the world. People while watching the IPL also saw the advertisements of Dream 11 and many tried to check this out as it was something new for the people.

After the success of Dream 11, a number of more Sports betting websites saw a good future in India decided to enter the market and saw equal success. Every website hired fan loved sports stars such as Sourav Ganguly, MS Dhoni and Rohit Sharma for their advertisement campaigns.

What Does the Future hold for Sports betting Industry in India?

The country’s online gambling legislation may not be rigorous, but the popularity of the practise is prompting local governments to investigate the problem. While many people believe that India will ultimately legalise the local operations of online casinos and bookmakers, it’s difficult to say for sure at this point. Several states have already taken steps to prohibit internet gaming. The states of Andhra Pradesh and Telangana have banned all forms of internet gambling in their jurisdictions. The government of Karnataka just indicated that they will follow suit. It’s unclear whether additional states will follow suit.

Despite the limitations in effect in the states above, many people in these locations have been reported to be placing sports bets online. Telangana accounts for 18.7% of all online betting in the country, according to a study provided by MyBetting in October. Karnataka comes in second with 13.2 percent, followed by Maharashtra with 9.6 percent. Maharashtra accounts for 10% of all online bettors in India. According to the survey, major cities such as Mumbai, Delhi, Chennai, and Bangalore are more popular for online betting. It has a lower popularity in the northern and eastern states, which are noted for being conservative. Based on present restrictions, this might continue to be the case in the future years.

It’s still unclear if India will be able to allow local internet gambling companies, but it would be beneficial if done right. Legalized internet betting implies millions of dollars in tax income and thousands of new employment for residents. India is believed to be losing over 140 million dollars each year to offshore gaming sites. If this becomes legal, the money raised could undoubtedly be utilised for a variety of government purposes. For the time being, all we can do is wait and watch where gaming legislation in the country will go.