As per the recent reports in 2019, the global online gambling market witnessed a valuation of $53.7 billion and the number has only increased over the last year or so. However, there is no denying the fact, India has played an important role in enhancing the betting industry globally. One can even say that sports betting has long been an integral part of India. It has been growing popular in recent times, to such an extent that the gambling industry now runs into the billions.
The numbers are have managed to reach the billions despite the fact that sports betting in India is still considered illegal. However, this industry continues to remain in a legal grey area, which is why the gambling industry has been rapidly growing over the past few years. Here are some of the reasons behind the emergence of the sports betting industry in India
The rise of technology
More and more Indians are preferring to use technology in their everyday lives. Smartphones are among the most popular methods people indulge in their love for sports betting. And with the introduction of online bookmaking applications and sites, people are finding it convenient to place bets with online bookies. Apart from that India is a cricket-crazed country.
As a result of the popularity of the game, betting on cricket has also become popular. The kind of popularity that cricket enjoys has given the much-needed push to the gambling industry and it’ll continue to grow in the coming years.
With the rise of sports betting in India, teh chances of legalization of inline gambling have also been increasing in the country. There is very little legislation currently regarding sports betting, and whatever does exist all centers around a single act, the Public Gambling Act 1867. However, with the sudden surge in internet users, who are interested in sports bets, there is a possibility that legislation will soon be put in place.
Therefore, the bookie sector is likely to be an extremely profitable industry in the next decade or so. Those looking to enter the industry as a bookmaker will be able to rake in profits if they can cater to the rising demands of the betting population.
An excellent software
First and foremost, a new bookmaker needs to invest in betting software that is good enough to run a large betting website. It must be capable of hosting a number of sports leagues, international sporting events, sports markets, and various bet types. Of course, if the owner is trying to cater to the Indian population, the platforms need to focus on cricket, which most people tend to bet on.
A custom website
There is always a need of maintaining a well-designed and user-friendly website. Most people look for websites that are not only functional but also pleasing to the eye. The number of sports fans in India who are using smartphones for their gambling activities is increasing by the day. It is, therefore, crucial for you as a bookmaker to offer a mobile app or at least a mobile-friendly website.
A new bookmaker needs to have a call center up and running before getting you even get players on board. Bookies that offer several different communication channels and professional experts who can respond quickly and clearly tend to do better with retaining customers than others.
Gambling is inherently a risky business. Nonetheless, players will be on the lookout for a bookmaker that is able to offer them excellent security and reliability. So, this is one important factor you must look out for. The future of the betting industry in India certainly looks bright right now.