Sports betting is no new phrase. It is so common that it could even be called a household phrase, and it has been around for a while with a history that dates back centuries.
Sports betting is when people predict the outcome of a sports activity. Then a wager is placed on the predicted outcome to make money. Sports betting applies to all athletic sports such as football, hockey, wrestling, auto racing, track cycling, boxing, and even martial arts.
In India, sports betting is not generally a legal activity, and this stems from Indian’s history as a nation. However, online betting is legal in India with the requirement that the betting site must be an off-shore based company and must accept the local currency (Indian Rupees) as payment.
Despite the controversy surrounding sports betting in India. Approximately 370 million Indians place bets during the big sports events and around half this number (approx. 140 million) place bets on a regular basis.
With this massive number of Indians placing bets. The gross estimation of the Indian gambling market is around 60 billion USD per year. Half of which is illegally bet. That is a very big number!
Sports Betting in India
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Most of the betting done is usually on cricket, the generally favored sport. It sure would be a hard task to find an Indian that is not smitten and in love with cricket.
Indians also bet on other sports like football, baseball, hockey, horse racing, etc. The Parimatch online sportsbook offers a wide variety of event selections to bet on.
Reasons Why Sports Betting is Booming in India
In recent times, the activity has gained popularity in India. That is not all. It is growing exponentially! With the huge 60 billion dollar per year market that has not even risen anywhere near its potential climax due to policy and regulations restrictions.
There are three major reasons why sports betting keeps booming. They include;
- The passion for sports. Indians are lovers of sports. The most popular sport in the country is cricket. The love and passion for sports extend to football, baseball, rugby, and other sports. Betting on their best sports always adds spice and much more interest in the game.
- Usage of mobile phones. The widespread usage of mobile phones has brought the internet to our fingertips. Sports betting is one of those features that the internet has made easily accessible. You can bet anywhere from the comfort of your home to a quick coffee run around the block.
- Non-strict enforcement of laws against online sports betting. Which opens the opportunity for people to fully express their passions without statutory restrictions.
How to place your Bet
Despite restrictions, online betting platforms are now popular in India. To get online, you have to follow the following steps;
- Register on Your desired platform. There are various sites where you can wager on the outcome of your favorite sport. Parimatch is an example of such a site, and its services are available to Indians. Sometimes to register, you would be required to download through a link. After registration, you’re automatically signed on to the website.
- Verify Your Account. After registration, verification of your account is next. Since you will be making cash transactions with the account, verification is important and necessary.
- Placing Your Bet. After verifying your account, you deposit some money, and then you place your bet. To do the latter, the betting site usually gives three steps;
- The first step is to choose a sport like cricket. Other popular options are football, baseball, hockey, horse racing, rugby, badminton, and so on.
- The second step is to select a match (or more) on which you want to wager your money.
- The last step is to choose your odds on one or more of the selected matches and click on ‘place bet.’
Hold up! If you are new to the game, thoroughly read about it and ensure that you are well informed before placing your wager.
Here are some tips/strategies you should consider before placing your bet (especially on cricket);
- Cricket is a game of numbers. You have to look into the previous form and the present one. Choose the team with a stronger match win records
- Note the team playing ‘home’ and which is playing ‘away.’ Most often, teams have to travel a very long distance to play. In addition to the change of environment and even climate, the odds are not generally in their favor.
- It is important to note team tendencies. This would require an amount of research of the teams and their past matches.
Indians have shown that they love sports and are passionate about sports betting. This is gauged from its rapid growth despite restrictions. Instead of its futile efforts to stifle it, the government should rather create a safe environment for its existence.
It can do this by encouraging pace setting, easy-to-use, and accountable online betting websites.