The sports betting industry is one of the fastest-growing markets across the globe as its also giving rise to the worldwide economy. The entire gambling market was valued at 12.5 billion USD in 2019 and it can certainly be expected to grow even bigger within the next five years. In India, gambling has been a part of the culture for a long time and but in recent years, sports betting has become increasingly popular in the country.
It’s a well-known fact that India is a cricket-loving country which also leads to an increase in the people being interested in online betting as well. With a lot of people being exposed to the internet, cricket betting offers a unique opportunity for online bookmakers to make a huge customer base. Despite these vast numbers of internet users, there is a lack of awareness when it comes to cricket betting and the onus for the same is on various online bookmakers out there.
There is no denying the fact that there are many people in India who have never even attempted to place a bet online but there are certain chances that more people will go for online betting in the future. There are many different reasons people will opt to try online gambling.
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Indian citizens have been subjected to find a wide range of sports betting sites online but sometimes, it can be difficult to find out which top betting sites are the best to play at. The Indian sports betting industry, especially cricket is a big business despite the legality issues. There has been a lot of discussions regarding the legalization of online sports betting in India, but despite this fact, the industry just keeps becoming more and more popular amongst the citizens.
However, we are trying to point out three reasons why online cricket betting is on the rise in India.
Sports betting is most likely to become legal
Online betting is in fact not completely legal in India, but sports betting exists in some sort of a grey area. There are no specific laws that prohibit Indian gamblers from using online betting sites that are based in other countries, where online sports betting is legal. India views betting on sports like cricket, football, etc as unlawful, and therefore the betting sites have to be located outside of India in order for it to be legal.
However, judging by the rise in the number of Indian citizens who have been placing their bets on sports online, it is possible that India might be on its way to legalization of online sports betting in the near future.
Increase in the number of smartphone users in India
Another possible reason for the rise of online sports betting in India is the fact that, since 2020, a lot of Indian people have no been spending their waking hours on their smartphones. Many sports betting sites have been developing their own apps or websites that are user friendly on the smartphone and that attracts many people.
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It is safe to say that Indian citizens spend more time on their mobile devices than they do use their computers and laptops. This is definitely one of the crucial reasons behind the rise of online sports betting in India.
The popularity of cricket and football contributes to the rise of sports betting
The two most popular sports in India are probably cricket and football. The Indian love for these two sports has definitely given played a crucial role in the rise of the online sports betting industry in India. It is unclear if the sports betting industry would exist without cricket and football but it would definitely not be as popular as it is today if it weren’t for the two sports.
