India is a country that loves sport and in particular, the majority of people here love cricket. Aside from sport, the locals are also known for their fondness of gambling and it’s no surprise that many in this country would enjoy mixing their favorite leisure activities. Today, sports wagering is now one of the most popular trends and growing industries in the country.
The future of sports betting in India is looking bright. It is estimated that the local gambling market is already worth around 60 billion USD. However, only around half of this amount is wagered legally. While gambling laws in the country are subjective per state, India is still in the grey area when it comes to online betting.
Online operators aren’t allowed to operate in most parts of the country and legal in-person betting is only limited to a few states. The majority of punters here are Betting on today’s game from the best betting site in India but most of these sites are based offshore. Still, many would place their bets on online betting sites because of how convenient it is.
Why Online Betting?
With the internet, it’s easier to do so many things with less effort and this is exactly the case for online sports wagering. People can easily gain access to numerous online gambling sites. Mobile apps are also available to download which makes ease of access a whole lot better.
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India’s internet infrastructure is now better than ever that many are switching to do their activities online including sports betting. Aside from this, more and more Indians are going online with their mobile device. The country now has the second-largest online presence with 749 million people. Around 744 million of them would go online with their smartphones or other mobile devices. This is why online gambling operators see so much potential for a huge betting market in the country.
Many punters are now switching to online betting because it could be very advantageous. It’s easier to shop for odds online as it only takes less than a minute to jump from one bookie to another. Variety is also something that many punters enjoy because they can easily place different types of bets on a single match.
The internet has also made in-play or in-game betting more feasible. This is a very competitive type of betting because odds are only available for a short time as a match would progress. This is now something that punters could enjoy without much hassle.
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The Future of Sports Betting in India
The regulations in place in the country regarding online gambling may not be strict but the popularity it is making local governments look into the whole situation. While many are expecting that India will eventually legalize the local operations of online casinos and bookies in the country, it’s hard to come up with a solid conclusion at the moment.
Today, there are already a few states that have moved towards banning online gambling activities. The states of Andhra Pradesh and Telangana have imposed a ban on all online gambling activities in their territories. Recently, the Karnataka government has also announced that they will be doing the same. Whether more states will follow suit is still in question.
Now, despite the restrictions in place in the mentioned states, there has been a report that many people in these areas would place sports bets online. According to a report released by MyBetting in October, Telangana accounts for 18.7 percent of online betting in the country. This is followed by Karnataka with 13.2 percent and Maharashtra with 9.6 percent. Overall, 10 percent of the people betting online in India are from Maharashtra.
The report also said that online betting is more popular in larger urban areas like Mumbai, Delhi, Chennai, and Bangalore. It’s less popular in the northern and eastern states which are known to be on the conservative side. This may continue to remain the same in the coming years based on the current regulations in place.
Whether India will get to legalize local online gambling operations is still hard to say but it would have benefits when done correctly. Legal online betting means millions of tax revenues and thousands of jobs opening for the locals.
It is estimated that India is currently losing over 140 million USD to offshore gambling sites. Surely, if this becomes legal, this revenue could be used on numerous government projects. For now, we can only wait and see the direction where gambling regulations in the country will be heading.
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