The gambling industry is one of the fastest-growing sectors in the worldwide economy with sports betting as one of the most popular trends. The entire gambling market was valued at 12.5 billion US in 2019 and is expected to grow even bigger within the next five years. In India, gambling has been a part of the culture for a long time and over recent years, sports betting has become increasingly popular in the country. Indian citizens can find a wide range of sports betting sites online but sometimes, it can be difficult to find out which top betting sites are the best to play at. The Indian sports betting industry is a big business despite the legality issues. There has been a lot of discussions whether online sports betting is legal in India, but despite this fact, the industry just keeps becoming more and more popular amongst the citizens. If you keep on reading this article, we give you three reasons why online sports betting is on the rise in India.
Sports betting is most likely to become more legalized
Online betting is in fact not illegal in India, but sports betting exists in some sort of a grey area. There are no specific laws that prohibit Indians from using online betting sites that are based in countries, where online sports betting is legal. India views betting on sports as unlawful and therefore the betting sites have to be located outside of India in order for it to be legal. But judging by the rise in the number of Indian citizens who bet on sports online, it is possible that India might be on its way to a legalization of online sports betting in the near future.
Indians use their phone more
Another possible reason for the rise of online sports betting in India is the fact that, since 2020, Indians are now spending one-third of their waking hours on their phones. Many sports betting sites have apps or websites that are convenient to use on the smartphone and that attracts many people. It is safe to say that Indian citizens spend more time on their mobile devices than they do using their computers and laptops. This is definitely one of the main reasons why online sports betting is on the rise in India.
The popularity of cricket and football contributes to the rise of sports betting
The two most popular sports in india are probably cricket and football. The Indian love for these two sports has definitely given a huge boost to the online sports betting industry in India. It is unclear if the sports betting industry would exist without cricket and football but it would definitely not be as popular as it is today if it weren’t for the two sports.