Sports betting has quickly become the most popular way to gamble, and the last few decades have seen a rapid rise in the number of people placing bets on sporting events. The global sports betting market is now valued at more than $76 billion, and this is expected to grow at an annual compound rate of 10.29% between now and 2030.
One of the biggest reasons for this growth has been the accessibility of online betting and the fact that it’s now possible to bet on sports in a growing number of countries. In India, it’s estimated that 140 million people regularly bet on their favourite sports. This number is also growing each year as the number of sites available to Indians increases.
Photo by Aksh yadav on Unsplash
Indian bettors can make the most of offers such as the Bet365 welcome bonus when they sign up to place bets online. Being able to place bets online and unlock bonuses has made sports betting easier and more fun, and as a result, more people than ever are signing up to place bets. That’s not the only reason why more Indians are betting on sports than before though, as there are a variety of factors in play.
Is Sports Betting Legal in India?
The legality of sports betting depends on the state you’re in. At the moment, the only Indian states that permit legal betting are Goa, Sikkim and Daman. An anti-gambling law was passed in 1867, and this law hasn’t been updated since. As a result, the law only actually forbids in-person betting. There are no laws against online sports betting, which has created a grey market.
Indians can legally sign up and place bets at sports betting sites without facing any repercussions. When signing up, they’ll need to check that the site they choose accepts Indian players and payment methods. Because of the growing interest in sports betting among Indian sports fans, there’s also a growing number of online sportsbooks that allow Indians to sign up.
Reasons Why Sports Betting is Becoming More Popular in India
India is a nation of sports lovers, so it’s little surprise that sports betting is also very popular. A recent report claimed that there were close to 140 million sports fans in the country, although the true number could be much higher. Cricket is the biggest sport, but other sports such as football and badminton are also very popular.
Indian residents are also very likely to be connected to the internet, which makes getting online to place sports bets much easier. In 2020, India had an astonishing 749 million internet users across the country, making sports betting extremely accessible. High-speed internet means that the average person in India can create a sports betting account and place bets on live sports without any issues.
Another factor in how popular sports betting is among Indians is the high percentage of mobile users. Mobile betting is far more convenient than betting on a desktop and means that sports fans can place their bets while out watching the game. In India, there are well over 700 million smartphone users, and the number of mobile users is growing each year.
Finally, India has a very young population compared to a lot of other countries. The average age in India is 28.4 years in 2022. Younger people are more likely to take risks, including betting on sports for entertainment. This has led to a growth in the number of Indians signing up to betting sites and placing bets on their favourite sports. Although the average age has increased over the years, it’s still younger than a lot of other countries.
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