The market size of illegal wagering in India is a rough estimate of $150 billion per year! There is no denying that this is a huge amount, but there is another point to consider here; which is that online wagering is not legal in all the parts of India. But no solid frameworks are stating the rules for online wagering with bookies registered outside India. As of now, India has legalized wagering on only one sport which is horse racing.
It is a popular fact that India is crazy for cricket. Cricket enthusiasts can use their knowledge about the sport to earn from it. Cricket betting in India is on the rise and is expected to keep increasing in the coming years. Due to this fact and an increased awareness of the fact that cricket betting is a game of skills and not merely a game of chance, Indian sports authority is considering making it legal. Though considered, nothing has come to action till date due to which many people resort to illegal sports wagering.
With this huge amount on online cricket wagering, many things could be done if it was made legal. An increase in economy and its benefit to enhance sports gears are some of the many uses of making wagering legal. There is an approximate amount of $200 million wagered on everyone Day International played by the men in blue. And this market size is going on increasing daily. Not only can the people benefit through this but also the sport and the government.
There are many reasons why online cricket wagering is gaining more and more audience every day. Cricket is a part of most Indian’s culture and is sometimes a sport they wake up to. Indians have immense knowledge about every player’s form and about the game in general. Cricket wagering is the only field which allows you to utilize this knowledge and earn through it. With this knowledge about cricket, most Indians wagering online don’t even have to refer to any cricket wagering tips. The thrill and fun associated with sports wagering is another reason for its increase. The happiness of making your own team, the thrill of awaiting the results, and the excitement of watching it win are beyond compare.
Another reason why it is gaining popularity is that it is online. You need not go to any physical entity to play. You can play anywhere according to your convenience. You enjoy complete security and seamless gaming experiences. Sports wagering portals incorporate the latest technologies to make it user-friendly and smooth as possible. Your personal information is safe provided to play on popular wagering portals. All these factors contribute to the massive users of online cricket wagering portals and its upsurge in the Indian market. Such is the market size of online cricket betting that the government can earn an estimated Rs. 12,000 crores to Rs. 19,000 crores from sports wagering every year. Many popular portals allow Indians to play safely.