Cricket is beyond a sport in India. It is not merely played. It is also celebrated. The game of cricket contributes a whopping 85% of the Indian sports economy. On the streets, you'll find all age groups playing the famous 'gully cricket', and over the internet, cricket betting is popular.
How big is the cricket betting industry? : An insight
Players who play off the field add to the fascination of a cricket match. Cricket prediction makes the game of cricket a lot more intriguing. The cricket betting industry in India has a huge acceptance among the masses. Because online betting is legal (there is no law against it), it has become a massive sport in itself. Cricket prediction requires skill, so it can be termed legal when viewed in concordance with the Public Gaming Act of 1867.
There are around 140 million people who bet regularly, a number that shoots up to 370 million during IPL. Because cricket is the most-watched and the most played game in India, 80% of online betting is directed towards it.
As the number of online gamers increases, so will the number of those involved in online betting. Hence, this has led to an increase in cricket predictions. Any growth in the betting industry will automatically affect the growth of the cricket betting industry as more betting giants are expected to enter the industry, providing betters with several options. Cricket betting is already legal in 6 out of 10 World Cup-playing countries. The taboo around it is set to reduce with time. The Federation of Indian Chambers of Commerce and Industry (FICCI) has vociferously advocated legalizing betting in India. It had put out its estimates of India's illegal betting market at over Rs. 3, 00,000 crores in 2019. This estimate of 2019 was almost parallel to India's defense budget.
Cricket betting: the types and legalities involved
Both legal and illegal betting takes place in India. Here's the difference between the two:
Illegal Cricket Betting | Legal Cricket Betting |
This industry is worth 10 crores per annum. It takes place on the city streets or in villages and is surprisingly more popular than legal online betting. Because of unevenly spread internet connectivity, players try to make cricket predictions offline. In such cases, no oversight mechanism exists, and there's an element of risk involved. | Legal betting is only possible through online betting portals based 'outside' India. Statistics show that 40% of Indians with the internet get involved in online betting at some point. The online betting market is growing rapidly, and with the increasing internet connectivity, it'll receive acceptance. |
In a diverse country like India, cricket betting is a favorite to thrive. Its popularity is set to increase with the introduction of fantasy leagues and online live betting. Cricket Players who make their cricket predictions enjoy the game on two fronts.
