In the last few years, sports betting has seen a massive surge in India. The popularity has risen multifold as new tournaments and leagues are being launched in different categories. In fact women cricket tournaments are also gaining prominence in the country. As the population of India is at 1.4 billion people, it is not a surprise that it has become a hub for sports betting and contributing largely to the market as a whole. This article will help you in understanding the salient features of cricket betting in India and how it functions largely. We also emphasise on the growth potential of sports betting as a market and which streams are the most popular.
Thriving Industry of Sports Betting in India
The betting of people on the outcomes of sports events, matches and even players is no secret in India. The legal status of sports betting in India is very controversial and marked in the grey area. The potential of growth in the sports betting industry is very high. It is also expected to contribute largely towards the economic growth of the nation as a whole. Attempts are being made by the Indian government to make profits from this industry due to the mere scale of the financials involved. On the other hand, the lobbyists are working towards acquiring a clear framework in which they can render the maximum number of profits from a legal industry in the future.
Different states in India have rules when it comes to sports betting. According to the gambling acts of 1867, it is illegal to engage in gambling in a physical establishment. However, it does not include the online gambling portals. The lack of clarity has helped a lot of websites to emerge and have a strong market share in the sports betting industry over the years. Since the Act is an old one and the internet practically did not exist at the time, it is definitely time for a major update that would assist a significant growth in the gambling industry as a whole.
In India, every state is given the right to formulate its own laws on gambling. States like Sikkim and Goa have given a green signal to gambling and sports betting both. However, in the majority of the other states, the ban is very strict. This is the very reason that it is seen as illegal and people find it difficult to stay clear of the authorities. For gamblers, it is critical to be aware of the laws in their respective states in order to ensure that they stay out of trouble. It is a matter of caution that the bettors and gamblers take as the amount of investment and profits can be very high.
Popular Sports for Betting in India
When we talk about sports betting in India, the first thing that comes to mind is cricket betting. Cricket is practically treated as a religion in the country and the players are literally worshipped as gods in many states. This is one of the primary reasons why sports betting is gaining huge popularity in the country. Cricket fans see betting as a means to support their teams and be a part of the thrill and the enthusiasm that rides along with the sport.
Apart from cricket, you can also see a number of football fans in India. Football is a global game but the popularity of the sport in India is skyrocketing. The sport has several tournaments that are held from time to time. Given the fan list of famed football players, this sport has also achieved major focus in the betting industry. The followers of football are also committed to their respective teams and invest in their journeys.
Along with this, you can also see a big fan following of Kabaddi in the nation. It is a famous traditional Indian sport that has gained superb acclaim in the past few years. You might not find the game being featured on every sportsbook but there are certain websites that can help you put your money on your favourite teams as well. Kabaddi also hosts several tournaments and live scores can keep you on the edge while you check the best odds that could work in your favour.
Lastly, we bring to you the timeless tradition of sports betting in India that started with Horse Racing. This sport was actually introduced by the Britishers during the colonial era. The stadiums would be packed on the days when some of the most important tournaments would be held such as Indian Derby and Bangalore Summer Million. Horse Racing is definitely accounted to be one of the favourite pastimes of Indian bettors in the country.
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If you really want to be the best bettor or earn a living out of sports betting then keep a close watch on the evolution of this legislation in the nation. The latest news can keep you on track.
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