Cricket is the most played sport ever to exist in India. The country has a better performance in cricket than in any other sport. The cricket phenomenon has long swept the Indian nation, which has produced so many cricket prodigies that it justifies the Indians’ craze for this particular sport.
However, this love for cricket does not just exist in isolation. There is another thing that Indians love the most: betting. The betting industry has become one of the largest, and it is a flourishing industry.
The local betting market in India was estimated to be around 90 billion rupees or $1.2 billion. If this trend continues, experts predict that the value of the cricket betting industry in India will only rise. It is expected to reach an estimated 143 billion rupees or $2 billion.
India’s Potential to Have the Biggest Betting Market
With a population consisting of 1.4 billion people, the potential to have a thriving betting market in India is immense. It is no doubt that almost half of this billion is online.
Approximately 749 million Indians have an online presence, and most of them use their mobile phones to go online.
This mans a huge gap exists for an online betting company to establish its niche audience. More people are going online, and with the country’s fast-growing internet and 5G services, this comes as no shock.
Furthermore, people are also getting access to cheap smartphones, which, combined with internet services, enable them to have an online existence. People are getting their devices, making the number of online bettors high.
These numbers make India a great place for the betting market with a promising future for the said industry. Therefore, many betting companies found an opportunity in India and have filled the void. Quite a lot of them are online. One such company is Parimatch.
Parimatch is India’s leading and well-known betting platform that has long made its mark in slot bets’ vast and widespread universe. It is a certified betting exchange website where safe betting practices take place.
Parimatch has a lot of advantages, such as that it has fantastic software and user interface. The website gives its customers a new player welcome bonus. Thus giving players incentives in the form of money on their first deposit and a referral program.
This allows members to get personal rewards when a friend uses the Parimatch app on their reference. Visit the website to learn more.
Sports Betting Numbers in India
In a report released by a source named My Betting, it was found out that in October 2021, 370 million people placed their bets online while 140 million traditionally placed them. This further strengthens the claim that India is a budding ground for such activities.
The love Indians have for cricket and betting is of no match. Such a trend is not viewed anywhere else in the world. This can very well be attributed to the fact that this country has one of the largest populations globally. It makes a case for India regarding its craze for sports betting.
Moreover, the research also found that most of the 370 million Indians placing bets online are young Indians. A good chunk of the percentage is aged 18 to 24, while the rest fall in age brackets of 25 to 30 years old.
Today, more than 30 online betting companies are working and filling the gap that the betting market in India has created. Most of these companies target Indians, which is evident in how accessible and convenient they have made the transaction. A lot of these platforms allow transactions in the form of Indian rupees.
The majority of the bets related to sports are for cricket. The betting market reaches an all-time high when a major cricketing event happens, such as the Indian Premier League or one of the ICC World cups.
Online betting is most prevalent in Delhi, Chennai, Bangalore, and Mumbai. In the North and the South, people mainly are oriented towards placing their bets in the good old fashion ways.
Conclusion
India is a growing economy and a tech-savvy country. Added to that is the Indian nation’s love for cricket and be.
Cricket is a passion that knows no limit. It is intriguing to see the rise and success of online betting companies such as Parimatch.
However, the betting industry is flourishing. Given the stats discussed above, it is also a no-brainer.
So if your love for cricket is real and you know the sport well, it’s time to get some bets on it. Having the right knowledge of the sport is very important as it will increase your chances of winning the game.
What are you waiting for you, place your bets today, and start winning! Good luck to all the bettors out there.