There is no doubt that Sports betting is one of the most popular betting activities in all around the globe. There are quite a lot of countries which allow you to bet in different sports and test your luck. However, when it comes to India, the sports betting market is not as big as the market in the USA. So the question is, how big is the sports betting industry in India?
Well, the sports betting industry is not as huge as it is in the USA. As there are quite a lot of laws involved. Hence, whatever sports betting happens in India happens on different online betting platforms like https://in.parimatch.com/en/football
However, to help you understand better, let me just answer to this question briefly over here:
How big is the Sports Betting Industry in India?
The Legality of Sports Betting In India
The thing about online betting or sports betting in India, well, it is not a legal activity. However, sports betting does exist in India, but the market is not that big, and it is always hidden on the dark side. Hence, the majority of people do not know about it. Hence, it is not so popular.
However, sports betting happens in India, and often, people get booked and arrested for betting in different sports. But so far in India, there have not been any arrests for online sports betting. Also, the plus point is that as long as the online betting platform’s office is located outside in India, one can bet online legally.
The Public Gambling Act of 1867 in India sort of banned sports betting in India. However, there is an exception for horse racing. But as horse racing also requires you to have a similar skill set just like any other sports betting. Hence, many people are asking to make betting completely legalized. But so far there is no changes have been made to the act.
While betting is entirely illegal under the Central Government of India. But the Indian constitution gives states rights to set their own laws for gambling. For example, Sikkim has legalized real money sports betting on sports like Cricket. Goa allows slot machines in Five Star Hotels and so on. However, whoever wants to set up a gambling area will require proper licenses.
So in case if you want to set up sports betting in your state, it is a good idea to check government state laws. As a result, you don’t end up facing illegal issues.
Find Trusted Betting Websites and Apps
In today’s time, sports betting has started being popularized in India. Hence, there are quite a lot of apps and websites available out there, which allows you to bet on different sports. However, these sports betting schemes are labeled as fantasy sports.
These apps and websites allow you to safely bet in different games offering services like Cricket betting, Football betting, hockey betting and so on.
However, whenever you are choosing a website, make sure it is a real one and has genuine reviews online. As there are quite a lot of fake websites that also exists in the online world.
Apart from the Indian apps and websites, you can also check out foreign websites or betting apps. Since it is legal to bet in foreign platforms. But it also comes with a lot of risks. So, whenever you choosing a platform for sports betting. It would be a good idea to choose popular websites and trusted ones only.
Potential of Legalization
Although betting is an illegal activity in India. However, the Indian government is taking many steps to legalized sports betting in the country. Although, so far, there has not been any changes made to the current act.
According to a report, an anonymous ministry official said that the Indian government is holding a consultation process with stakeholders to legalize sports betting in the country. However, the process will not be fast tracked. And it would take time to pass fair sports betting laws in the country.
However, there is a huge possibility that we might see sports betting being legalized in India in the upcoming years. As it would benefit the Indian economy with the right legalization.
Moreover, it also estimated that that sports betting could generate more than $50 billion per year, which could swell federal tax coffers by $2 billion.
So that was the answer to how big is the sports betting industry in India question. Overall, the current industry of sports betting in India is quite small. But things have already started to change.
As there are quite a lot of companies like Parimatch being one of them have entered into the market and helping Indians with Football Betting In India. And the government of India has been okay with these companies so far.
So we can pretty much expect that India is going to legalize betting. So the Indian betting industry could grow more and more.