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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!
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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.
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;
Despite restrictions, online betting platforms are now popular in India. To get online, you have to follow the following steps;
Hold up! If you are new to the game, thoroughly read about it and ensure that you are well informed before placing your wager.
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.
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