Why Is Betting So Popular in India?
India is a country that loves sports and above all, most people here love cricket. In addition to sports, the locals are also known for their love of gambling, and it is no wonder that many in the country like to combine their favorite kinds of recreation. Today, cricket betting India is one of the most popular and growing industries in the country. The future of sports betting in India looks bright.
The local gambling market is already worth about $60 billion. But only about half of that amount is betting under the law. That said, casino laws in the country are subjective for all states, and India is still in a gray area when it comes to online betting. Online operators are not allowed to operate in most parts of the country, and only a few states have established legal betting. In this article, we’ll take a closer look at cricket betting – why they’re popular and why they’re worth betting on.
Why Bets?
With the Internet, it has become easier to place bets with less effort. People can easily access numerous online gambling sites. Mobile apps are also available for download, making access much easier.
India’s Internet infrastructure is now the best, and many people are getting into online entertainment, including sports betting. In addition, more and more people in India are accessing the Internet from a mobile device.
The country now has the second-largest online presence with 749 million people. Of these, about 744 million people go online from mobile devices or other devices. Thus, online gambling operators see huge potential in the huge betting market within the country.
Many gamers are now switching to online betting as it is very profitable. Buying online odds is easier because it takes a few minutes to switch from one bookmaker to another. Also, many players like the variety because they can easily make different types of bets in the same match.
The Internet also makes betting during the game more accessible. This is a very competitive type of betting, as the odds are only available for a short period while the game is going on. Now, this is something a player can enjoy without much difficulty.
Cricket Betting India
If you talk to someone in India, it is likely that among their favorite entertainment Indians will name Bollywood and cricket. In large cities or even in small lanes you will surely find a child, an adult, or even an elderly person playing cricket.
Most begin their journey by playing tennis before switching to cricket. Watching cricket is another favorite pastime for India that will be better enjoyed when watching games with friends or family members.
Thus, online betting sites took notice and offered cricket as a sport to bet on. Most sites have gone on to create special betting apps that can be downloaded for both iOS and Android devices. You have to remember that India is a market with high Android penetration, so it makes sense for bookmakers to provide the Google Play Store with APK files that can be downloaded.
Are All Cricket Betting Sites in India the Same?
No. While most bookmakers strive to provide decent options, the reality is that some will be better than others. It depends on the user’s preferences as to which online betting site best fits the user’s needs.
After selecting a cricket betting site, the user will have to fund the account. Nothing could be more frustrating than creating an account at a betting site and then not finding the right banking option. This was certainly the case a few years ago when bookmakers never knew what the most popular payment methods were in India. Fortunately, with the growing competition in the gambling industry, almost all betting sites offer a wide range of banking services. Betting sites understand that offering a good selection of deposit methods can be a deciding factor when choosing a gambling site. Some of the most popular methods a user can find on betting sites in India are:
- UPI,
- NetBanking (Online Bank Transfer),
- Google Pay,
- Paytm,
- Skrill,
- Neteller,
- AstroPay Card.
How to Withdraw Funds From Cricket Betting Sites?
This has become easy enough. The only thing to say is that you need to provide the correct documents, which will be requested by the bookmaker to verify the user. Internet betting sites are regulated by licenses, so the user needs to make sure that bookmakers have a strict protocol when it comes to withdrawals. This means providing winnings to the right person and ensuring that funds are only unblocked if the betting site does not raise concerns about money laundering or any other illegal activity.
Online betting sites require 24-72 hours to withdraw funds after submitting documents. The time depends on which withdrawal method the user chooses.
Some betting sites will require the user to withdraw funds the same way the user used when making a deposit. This is done to prevent the illegal sending of funds to third parties.
What Are the Best Cricket Betting Apps?
Let’s face it, we all spend a lot of time looking at the small screen. For some, it’s the best way to use content because they may be on the go or don’t have the luxury of having a 100-inch flat screen. While the data is clear that people are spending more time on smartphones in India, which is a good sign because India has made progress in smartphone availability and increased Internet access.
Bookmakers are more or less aware of this, and the best ones have at least created some pretty successful cricket betting apps. It’s a shame that few have invested in developing betting apps because it would certainly increase their brand awareness.
Is Betting Legal in India?
No need to panic here. In India, online cricket betting is allowed because there is no federal law prohibiting online betting. In India, the government has put the responsibility on each state to set rules related to betting. One state’s laws are more lenient, and another state’s laws are stricter.
Sikkim is a great example of a state that is trying to establish online betting licensing systems. The state understands the potential of betting to generate income, crack down on other crimes, and is making every effort to make it easier for its residents to bet. Telangana and Andhra Pradesh alone have banned all forms of online betting, and anyone found guilty can be sent to jail for up to 1 year. Unfortunately, all is not as good as one would like.
The Future of Sports Betting in India
The country’s rules on online gambling may seem strict, but their popularity allows local authorities to study the whole situation. Although many speculate that India will eventually legalize local online casinos and betting shops, it is difficult to make an exact conclusion at this time.
Currently, several states have moved to ban online gambling. Although there are restrictions, it has been reported that many people in this region will be betting online on sports. According to some reports, Telangana accounts for 18.7 percent of online betting in the country. Next is Karnataka with 13.2 percent and Maharashtra with 9.6 percent. Overall, 10% of Indian people who bet online are from Maharashtra.
The report also notes that online betting is popular in India’s major cities, such as Delhi, Chennai, and Bangalore.
Betting is less popular in the northern, and eastern states, which are notoriously conservative. Nothing will change in these states anytime soon, based on current legislation.
Whether India can legalize online gambling is not yet clear, but it will be useful if done right. Legal online betting means millions in tax revenue, and thousands of jobs open to locals.
According to some reports, India has lost more than $140 million to offshore gambling sites. Of course, if legal, these revenues could be used for many government projects. For now, we can only wait and see which way gambling regulations will develop in the country.
