Misc

How Big is the Sports Betting Industry in India?

India’s online gaming industry is currently experiencing tremendous growth. In the country, gambling is seen as a sort of national sport. Top online casinos are rapidly being preferred by players over conventional land-based casinos.

India’s gambling industry has expanded as a result of the increased interest of players in learning about sports betting sites like 10cric India. As the online betting market grows, policymakers are considering making betting totally legal.

Betting online on sports such as cricket is well-liked among sports bettors in India. The Indian betting landscape is summarized in numbers in the article below.

Growth of Sports Betting in India

The Indian online gaming market is anticipated to increase by around 21% and reach $9.164 billion by the end of 2027. The growth of the market might be attributed to rising internet usage. In addition, more people are playing online games from the convenience of their homes utilizing tablets and smartphones.

Due to its ineffective management of internet gambling, India currently loses out on almost $1.5 billion in revenue. However, during the past ten years, internet gambling has experienced remarkable growth in popularity. At least once a year, 80% of Indians engage in internet gambling—either on slots, table games, or sports.

India’s betting industry is estimated to be worth around $60 billion, with almost half of that being illegal. However, the exploited legal loophole has made it possible for Indian individuals to gamble at several foreign casinos and betting sites.

Many social and economic indices show that India is progressing in the right direction. It can be inferred from this that it will close the gap separating them from their rivals.

Market Statistics

The online gaming market in India is growing quickly, and new operators are showing an interest in Indian players. The murky confines of India’s gaming laws govern the operations of betting websites and sports betting businesses.

These gambling laws make it simpler for online casinos to run. This is due to the fact that it is only relevant to land-based gambling establishments and has not been considerably altered for internet casinos.

In India, there are only two legal forms of gambling: horse racing and lotteries. If the country’s gambling laws were simplified, it might attract major online casino operators.

India’s gaming scene is rapidly growing despite a number of obstacles. Real money investments are growing at a 20% annual rate.

The market is anticipated to surpass $1 billion in 2022 at the current rate of investment in online gaming platforms. The country’s remote regions now have more access to the internet, giving the online gaming industry a diverse pool of players to draw in.

Trends in the Market

The majority of people in India use mobile devices to connect to the internet. Any gaming platform attempting to launch in India appears to be moving toward mobile gaming. At least 80% of Indians wager once a year, according to a recent study. It could involve live casino gambling, lotteries, sports betting, or any other local wager.

India’s internet population is expected to grow by double digits this year. In the upcoming years, it is anticipated to reach upwards of 627 million people. With 192 million users, metropolitan areas have a higher internet penetration rate.

Even though there are more than 259 million people residing in rural areas of India, the demographic differences between the urban and rural populations are taken into account. The Indian government promotes the use of the internet via the Digital India Project.

The most common type of gambling is on horse races, followed by wagers on sports like hockey and cricket. Poker and slots are growing in popularity due to the advent of enticing gaming sites.

The age range of gamblers could be anywhere from 20 to 45. The Indian gaming community prefers mobile gaming to computer gaming in casino games, despite the existence of gambling platforms on PCs. The Indian Gaming Act of 1967 forbids any casinos in the Indian Territory.

Why Indian Players Love Mobile Betting

There are two major factors contributing to the popularity of online betting. The middle class in India is growing quickly, and the national internet infrastructure is also getting better and more accessible every day.

Twenty-five years ago, there were only a handful of Indian families with disposable earnings over $10,000 today. This enables the typical Indian family to live a lifestyle that is on par with families around the world.

The number of smartphone users in the nation is the best indicator of the nation’s increasing wealth. It is anticipated that there will be more than 760 million smartphone users by 2022.

A United Nations prediction states that India’s population will surpass China’s by 2023. By 2027, it is anticipated that India will have more middle-class citizens than China, the US, and Europe combined.

Compared to other social groups, India’s middle class has more free time, access to the internet, and popular smart devices. Due to this, people have started looking for entertainment online, particularly at computer and mobile-friendly casinos. You can enjoy playing games in the comfort of your home rather than traveling to Goa, for example.

There is a good chance that a smartphone user has stable internet connectivity even if they live in rural areas. India has the world’s second-largest number of internet users. You can place wagers on your favorite sports without much hassle.

Which Sport Do Indians Bet on the Most?

No game would ever be able to match India’s passion and affection for cricket. Online cricket betting has experienced a rapid rise in popularity. Cricket is the fifth-most wagered sport worldwide and the most wagered sport in India. The popularity of cricket is widespread, especially in India. 

Indian players enjoy betting on their favorite teams’ winning odds as well as odds that favor their favorite players. Numerous websites that feature the games that are being played and offer the possibility to bet on them are responsible for the growing popularity of betting on cricket.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button