Sports betting is one of the most popular trends in the gambling industry and continues to grow at an extremely rapid rate in the worldwide economy. Gambling in India has been a part of the culture for a long time, and sports betting has gained popularity in recent years.
In 2019, the overall gambling market was valued at 12.5 billion US and is expected to grow even bigger within the next five years. The Indian sports betting industry is a big business despite the legality issues, but many citizens are unable to find out the top betting sites online. Dafabet promo code India strives to attract top Asian players on a daily basis, making it one of the top sports betting and online casino platforms. Indian players are particularly attracted to this sportsbook and casino platform.
The Present Scenerio
The local sports betting sector is expected to continue growing in the coming years despite the country's lack of progressive gambling laws. Online sports betting has been an interesting topic for a long time in India, however, the industry just keeps on growing despite this fact.
India does not have any laws against online betting, but online sports betting is kind of in a grey area. Indians do not have to pay taxes on money they win on sports betting sites based in countries with legal online sports betting. India considers sports betting unlawful, so in order for betting to be legal, the sites must be located outside India. However, considering the growing number of Indians who bet on sports online, it is possible that India might be on the verge of legalizing sports betting.
As of today, Telangana and Andhra Pradesh are the two states that have already banned all online gambling activities with a view to preventing their use. Online gambling activities are still legal in India but some states have already banned them.
Moreover, Indians are now spending approximately a third of their waking time on their phones, which could contribute to the rising popularity of online sports betting in India. It is safe to say that many people use their mobile devices more than they use their computers and laptops. Sports betting sites offer applications or websites that are convenient to use on smartphones and that is why they attract many people. The increased popularity of online sports betting in India can be attributed to this reason.
In India, football and cricket are the most popular sports. This love for cricket and football has definitely given a large fanbase that supports and participates in online sports betting in the country.
There are only two options for the Indian government in terms of gambling regulation in the country: either ban it or have its regulation be effective so that a mutual benefit can occur. India can take a look at the UK Gambling Commission's laws and take a lesson from it. It ensures that gaming operators follow the law and protect young people from gambling risks.