The Rise Of Online Sports Betting In India
In recent years, when the digital world came into trend, online sports betting in India made a significant place in the hearts of sports enthusiasts. The industry of online betting has made an irreplaceable place in the sports industry and among sports enthusiasts. More than 380 million people in India are betting online on sports like cricket, football etc. In this blog, we are going to learn about the rise of online betting in India from non- digital world to this trending digital world.
Historical Context
Off-paper betting has in a trend in India from history. Gambling and betting have a rich history in India. Many kings of history were involved in betting and gambling like Horse Race Betting and many other sports. Stock market betting was there from last century which was very much in demand at that time. However, today’s online betting system involves so many people in previous times when online or internet things were not there, there were very less people involved in betting. Betting was the game of royal families back then.
Evolution of Online Betting in India
In previous times, when very few people were involved in betting on very few sports, after the evolution of this digital world, more than 380 million are involved in online betting only in India if we are not involving other countries. If we do involve other countries, there are more than 400 billion people doing online betting which is huge. The number of sports fans is not less, neither in India nor any other country.
The popularity of Online Betting in India
According to the surveys of recent years, we know that India is the largest market for online betting leading to many online gambling platforms for betting. According to the surveys of 2023, the yearly turnover of India in gambling was more than 250 crores including all the leading gambling platforms. This figure can grow more than 400 crores by 2028 according to the surveys.
The popularity of online gaming or betting is huge among sports fans in India. Online cricket betting has so popular amongst cricket fans after the start of the Indian Premier League (IPL). Sports fans are everywhere whether in cricket football or any other sport in count.
How Online Betting Came in Trend in India?
There has been a significant rise in Online Betting in India. Let’s learn about How Online Betting is a trend now.
There are many factors involved in influencing the rise of online betting in India-
1. Free Internet Access: –
The Internet was provided for very little amount and the speed of the Internet was very fast which led the population to surf the Internet. Meanwhile, sports fans when see the opportunity of online gambling or betting, they got involved there seeking the opportunity.
2. Gambling was popular: –
Gambling has normalized in recent years. Every other person involved in this field was part-time, and they started enjoying their betting journey. It was made legal in India and many people got involved.
3. Pandemic Era: –
We all are aware of the COVID-19 pandemic. We all were Quarantined in our homes and were not allowed to go outside. At that time, people were majorly involved on the internet and social media platforms. Sports enthusiasts got involved in online gambling platforms and many people made money out of it. COVID-19 made sports fans surf the internet and leading online gambling platforms in India.
Legality of Online Betting
The legality of Online Betting in India is a complex topic to talk about and it is still evolving. Some platforms in online sports betting have made a safe place while some are still struggling with legality issues in India. Many sports betting there is illegal but still they own a conservative place. The legal ambiguity has prompted calls for comprehensive legislation to address the challenges and ensure responsible gaming practices.
Future of Online Betting in India:
Online Betting in India is still evolving and will continue to evolve among many sports fans. The future of online Betting holds both Challenges and Opportunities. The integration of evolving technologies, such as blockchain, can enhance security and transparency, addressing some of the concerns associated with online betting.
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