Betting Industry and Cricket in India
Cricket is India’s most popular sport, and it is frequently regarded as a religion, with cricketers considered gods. As a result, cricket has drawn many people to India. Therefore, whenever the Indian team plays, the stadiums are packed to maximum capacity.
Also, viewers streaming from their houses are hooked to their television screens. But, on the other hand, cricket is no longer limited to just playing and watching. The addition of internet prediction has given the sport a new dimension.
This article examines the role of cricket love among fans in the betting industry and what bettors have to get from it.
Betting Industry in India
The worldwide sports prediction business and the underground market are estimated to be valued at over $1 trillion. Today, it’s receiving more attention in several nations, and it’s believed that the sector will continue to expand. India is a country that enjoys both sports and betting. So, it’s no wonder that the two are booming as popular local sectors combined.
While many people mistake betting for gambling, this is not the case. Betting is distinguished from other types of gambling under Indian law. The former involves a degree of skill, while the latter is solely based on chance.
Although cricket prediction is generally illegal for the most part, Indian people are not prohibited from doing so. There is, however, a slight snag here. Cricket bets may be placed online using parimatch.in/en/cricket/live, but not offline in India. In India, online prediction is permitted. But, there are no government rules prohibiting internet betting.
Cricket betting services have gained popularity recently due to the increasing number of individuals who use them. There are many fantasy applications and sites for cricket predictions sprouting up like mushrooms. These websites have been designed with Indian clients in mind. The majority of these cricket betting websites are easy to use, with various payment choices and quick withdrawal times.
India’s Possibility of Having the World’s Largest Betting Industry
India is a densely populated country with an estimated 1.4 billion people, half of whom are online. Over 749 million individuals are anticipated to be online in the nation. The majority, 744 million, access the internet via mobile devices.
People are also beginning to do more with their smartphones. This is apart from the large number of individuals who may be reached by betting firms who provide their services. Smartphones are becoming more affordable while growing more powerful, so more individuals purchase their smartphones. As a result, the amount of smartphone bettors is projected to rise.
Mobile internet is helping the country as more individuals use their cell phones to browse online. Mobile data was formerly prohibitively costly in this country, but it is now more accessible. By next year, consumers should be able to accomplish more with their smartphones. This is thanks to the 5G connection, which is projected to be available.
India’s Sports Betting Statistics
According to a survey by My Betting in October 2021, there are 370 million individuals who’d wager online at significant events. With about 140 million of them placing bets regularly. In India, males account for 88.4 percent of online bettors, while women account for only 11.6 percent.
According to their findings, the youths are the ones that are mostly making bets online. According to the same survey, 44.6 percent of internet bettors are between 18 and 24. 32.5 percent of online gamblers are between the ages of 25 and 34.
It’s most common in the states of Maharashtra, Telangana, and Karnataka when it concerns location. Telangana accounts for 18.7% of India’s online betting sector. Karnataka has 13.2 percent, while Maharashtra has 9.6 percent.
Around 30 online betting organizations operate in the state, and most sports bets are placed on crickets. So when a big cricket tournament, such as the IPL or the ICC Men’s World Cup, is on, bets tend to rise.
Online betting is more prevalent in cities like Bangalore, Chennai, Delhi, and Mumbai. Moreover, there are fewer online betting operations in the eastern and western states, where people are more conservative.
Parimatch, 10CRIC, Bet365, Betway, and 1xBet are among the most prominent betting sites in the nation. Most of these websites cater to Indian gamers, which is understandable, given how easy transactions are. Most of these sites accept Indian rupee payments, and the most popular Indian payment methods include NetBanking, UPI, and PhonePe.
Conclusion
With the increase in this activity, it’s just a matter of how long until the Indian government considers regulating it. Like Telangana and Andhra Pradesh, only a few states have made it plain that internet gambling is prohibited within their borders. So we can only expect that the Indian government would put measures to ensure that the Indian betting industry is safeguarded.
Featured Photo by Fred Rivett on Unsplash
