In a populous country like India, the sports betting ecosystem is interesting. Although sports betting has been popular in the country for many years, it has only recently become legal.
Interestingly, sports betting in India started as far back as 2500 BC. These were bets that people made when they threw terracotta dice. However, if we talk about the modern stage, it started in the 1960s of the 20th century. At that time, the number of bookmakers increased significantly in different parts of the country, allowing many Indians to access betting shops. Before the advent of online platforms, physical sports betting became the most commonplace.
In the two thousand years since, online bookmakers have emerged in India, significantly accelerating the growth of online betting. A large number of people got access to such platforms. Sports betting apps emerged after the country’s access to the internet and mobile devices increased.
The Law Commission of India recommended legalizing all sports betting activities in 2018. It took all factors into account, considering the long history of betting in the region as well. However, the relevant law has yet to come into effect in all regions of the country, and there is also no specific timeline for it yet.
However, despite this, the Indian internet sector is already flooded with various online betting platforms. Indians often prefer to bet on cricket, as it is the most popular sport in the country. The most significant interest among locals and visitors is the matches held within the Indian Premier League. Meanwhile, bookmakers take advantage of this trend and do not miss the opportunity to attract as many users as possible to their platforms. For this purpose, they use a variety of means, from aggressive advertising on the Internet to the most attractive IPL betting welcome bonuses for new players.
There are parts of India where sports betting is maximized and parts where it is illegal. In those regions where sports betting is legalized, a large number of Indians bet on sports for fun. But there are also some people who take the issue seriously and do a lot of research to win real money.
The government has identified sports betting’s potential benefits to the economy as a source of revenue. Since India is densely populated, there will be an influx of new players on a regular basis. That said, the situation is complicated because the government is unsure whether the activity should be categorized as a game of chance or skill.
The sports betting industry in India, meanwhile, continues to grow, and there are some interesting trends. First and foremost is the fact that the number of online platforms is only increasing, even though the legality of sports betting in India remains a gray area. The online sports betting ecosystem in the mainstream has grown because of the COVID-19 pandemic.
The future of the sports betting industry in India looks bright despite the problems associated with the legality of betting in this region. The main development driver is the increasing access to smartphones and internet services. In addition, one cannot help but notice how cyber sports betting is growing in popularity and the overall growth of the online betting market in India.