The sports betting industry is among the fastest-growing segments of the global population. In India, the popularity of sports betting has ballooned in recent years. Thanks to tech advances, you can now access top online casino sites where you can make easy money. Indeed, there are still numerous issues facing the industry because gambling, in general, is yet to be widely embraced. Nonetheless, here’s what you need to know about sports betting in India.
What’s the Legal Status of Sports Betting?
Like other forms of gambling, sports betting is largely considered illegal in India. Nonetheless, there isn’t a specific law that bars you from betting on foreign websites. This clearly shows that sports betting exists in a legal and regulatory grey area. In most states, betting on sports is deemed illegal.
Although Indians can’t place bets with local bookmarkers or websites registered in the county, they can legally bet on international sites that offer their services in India. A recent study established that 40% of Internet users in India engage in some form of gambling. Judging by the significant rise of Indians who bet on sports, the country might be on its way to legalizing sports betting in the coming years.
Popular Sports Betting Markets
Since cricket is the most popular sport in India, it goes without saying that most punters wager on the outcome of cricket matches. The Indian Premier League, in particular, is quite a hit among bettors, although some also place wagers on international tournaments and leagues. Indeed, it’s no surprise that most sports betting sites that target Indian punters primarily feature fantasy cricket in their promotions.
Football is also quite popular among Indian bettors, thanks to the global appeal of international leagues such as the EPL and La Liga. Browsing through betting sites that target Indian customers, you’ll realize that bookmarkers often have special deals for football fans.
Deposit and Withdrawal Methods
Since sports betting in India still exists in a legal and regulatory grey area, one worry that bettors have pertains to depositing and withdrawing money from their accounts. The fact that they have to use international sites adds to their worry all the more. Nevertheless, there are several methods you can use to deposit and withdraw money from an overseas betting site account.
Most of these sites allow customers to make debit card payments using MasterCard and Visa. With such betting sites, depositing and withdrawing money from your betting account is cheap, fast, and convenient. Some betting sites also accept online bank transfers from India, while cryptocurrency payments are also gaining root.
The Impact of Technology on Sports Betting
Technology has opened up the sports betting marketplace. Punters can now bet on overseas sites without worrying about falling foul of the law, which wasn’t the case in the past. Internet and mobile penetration have been the main factors for the growing popularity of sports betting in India.
With more people spending more time on the Internet, bettors have access to more betting opportunities than before. It’s no surprise that most sports bookmarkers have mobile-friendly apps and sites. Tech advances have also made it easier for bettors to deposit and withdraw money from their betting accounts.
Tips for Choosing an Online Sportsbook
Dozens of sports betting sites target the Indian market. If you’re getting started on betting, choosing the most suitable website can be challenging. Several factors should be taken into consideration when deciding on a betting site that suits you. It’s best to keep in mind that choosing the right betting site is as essential as the bets you’ll end up making.
When shopping for an online sportsbook, you should have an idea of what you are looking for. Do you intend to bet on one or two events, or are you looking to become a full-time bettor? Knowing what you want to accomplish makes it easier to find the perfect sports betting site.
When deciding on a suitable sportsbook, you’ll undoubtedly have a list of potential websites. An easy way to find one that’s best suited to your skills and capability is by reading reviews and testing out each site. This doesn’t mean depositing money into a betting account because clicking around the various website sections will give you an idea of how it works.
Final Thoughts
Undoubtedly, India is on the verge of legalizing local-based sportsbooks. The industry is also expanding at a tremendous rate. So, if you’re a bettor, there’s no better time for you to make a few extra bucks.
