India is well known for its love for various kinds of sports. However, cricket has been the country’s number one national devotion for many years, with millions of Indians religiously following every of the sport’s major competitions. Also, the sport is played in almost every playground, stadium, and school in every part of the country. Studies show that cricket takes 93% of the overall sports fans in India. In the last few years, many other sports such as football, hockey, and kabaddi are also fast gaining ground and amassing fans in India – with notable leagues and tournaments in their names at local and national levels. You can check out Top Sports Events Parimatch to learn about the major sports events in India. Since sports are such a big deal for Indians, it is only expected that sports wagering will also be on the rise in the country.
Sports betting is one of the largest and fastest-growing sectors in the global market – being the most popular trend of the entire gambling industry. According to research by Statista, the sports betting market was worth $203 billion in 2020, with around 197,000 workers in almost 31,000 companies. Another study by Bloomberg shows that this market is projected to be worth $140.26 Billion By 2028 – suggesting an astounding growth by the company in the near future.
The topic of sports wagering in India is far from straightforward. According to the country’s Public Gaming Act of 1867, every form of gambling, including sports betting, is illegal and prohibited. This law holds a punishment for anyone caught running any form of in-house gambling house or casino in the country. Even when the states were given authority to make their own laws regarding gambling, only a few, such as Sikkim, Daman, and Goa, among twenty-eight others in the country, have legalized land-based casinos thus far. To further complicate the matter, certain parts of the Public Gaming Act classify the sports in India into ‘games of chance’ and ‘games of skill.’ The former is mostly prohibited, while the latter may be sometimes allowed. Since there is no clear-cut yardstick for distinguishing between these two types of games, much confusion surrounds the topic of sports wagering in India.
India’s online sports betting market has witnessed tremendous growth in the last few years – even amidst the grey areas surrounding the country’s gambling laws. You may wonder why sports wagering is booming in India even amidst legality issues. Well, the reason is simple. Indian gambling laws only ban the operation of betting houses operated from within India and do not cite anything related to online wagering. Thus, many Indians bet on their favorite sports online using offshore bookmakers, which can’t be deemed illegal by the law. Studies show that the growth rate of the sports betting market in India is increasing by 20% every year – cricket being its primary influence. Many Indians also wager on other sports such as football, hockey, horse racing as these offshore bookies provide various options.
In this article, we will explore the reasons why Indians like wagering on sports so much.
1. Love For Sports
As discussed above, India is a home for various kinds of sports. Indians are gripped especially with their fondness for cricket, followed by football and many others such as kabaddi, horse racing, hockey, etc. The love for sports in the heart of Indians has given a massive boost to the love of sports betting in the country. This is easily seen in the fact that the most loved sports in the country, which are cricket and football, are also the most wagered on.
According to estimates, around 90% of all sports wagers in India are placed on cricket’s major tournament – the Indian Premier League (IPL). Here is how it works. If you love a sport so much, the chances are that you will analyze its matches, study its players, follow its news and be eager to wager on your favorite team to win a game either for the exhilaration it brings. You’d agree that India’s online sports betting sector will not be where it is today if sports like cricket and football are not as popular as they are.
2. An Easy Way To Earn Money
Looking at the global online sports betting revenue statistics, it is easy to deduce that a lot of money is circulated in the industry. A major reason Indians like sports wagering is to earn a reasonable income. During the COVID-19 pandemic, which caused a mandatory lockdown of workplaces, many people turned to online wagering as a means to make money from the comfort of their homes. In fact, some seasoned punters have earned a substantial amount of money by wagering on sports – turning the activity into a major source of income.
However, making money in betting is not all easy. You must put enough time and effort into perfecting your strategies and skills to increase your chances of winning. Here are some tips that can help you bet successfully and win more money than you lose:
- Choose a legit and trustworthy betting site
- Maximize the use of bonus offers
- Prepare a budget and don’t go above it
- Avoid chasing losses
- Wager responsibly – don’t wager more than you can afford to lose
Even though many people in India are involved in betting mainly to earn some additional income, the fact remains that many others are also into it to be entertained. Due to the advent of technology that has made mobile devices and hi-speed internet available to most Indians, people can now wager on their beloved sports from the comfort of their homes with just a few clicks on their phone or laptop.
This anonymity and convenience that the internet offers have made it extremely easy for people who want to bet for fun. Also, you’d agree that staking some Rupees on a match will produce more exhilaration and adrenaline rush than watching it without betting. Thus, Sports wagering can give a great entertainment value if played for fun.
However, it is essential to carefully choose a licensed and transparent platform before wagering on sports. One of the best bookmakers in India is Parimatch – a global betting company with proven reliability over 28 years. Parimatch offers a variety of games to wager on with various bonus and promo offers.
There is no doubt that online sports wagering in India will witness massive growth in the coming years as the love of sports grows and technology expands. More Indians are also picking up interest in the activity as it serves as a way to make money and get entertained at the same time. Don’t forget to visit Parimatch for an outstanding betting experience.