Gambling is prohibited in India where the Supreme Court has illegalized betting on games of chance from a federal point of view. However, states in India have been allowed to form legislation on gambling and institute their own laws. Physical casinos can be found in Goa and Sikkim.
In spite of that, the online gambling industry is flourishing. The 1867 Public Gaming Act does not indicate a ban on participation in online betting. The list of Indian betting sites has grown steadily over the years.
This is the most popular sport in India, with industry estimates placing ODI betting values at USD 200 million. As the nation’s top choice, estimated annual figures on cricket match wagers come at about USD 15 billion. The Indian Premier League (IPL) has gained a large following in the past few years, making it one of the largest, most popular cricket leagues in the world. It has also influenced the sport of choice for Indian nationals, with 62% of fans playing the sport.
The IPL betting market has faced a few setbacks over the years, with market fragmentation and low liquidity making it difficult for small traders to compete. The unregulated market has made it difficult to protect punters in case of disputes. The IPL stepped up its pull on the market by introducing Augmented Reality. The enhanced fan experience was an attempt at making up for the lack of in-stadium fan attendance.
Following the ruling made by the Supreme Court through the Public Gaming Act of 1867, a 1996 ruling showed that to win a horse race, one has to have significant knowledge about the horse & its training regiment, jockey skills, as well as the race track. This therefore shows that it is a ‘game of skill’ and not a ‘game of chance’.
This ruling makes horse racing the only sport in which online and offline betting is legal. The popularity of horse race betting has been encouraged by the fact that horse racing has been part of the Indian culture for many centuries. For those who would want to add the thrill of horseracing in their portfolio, here is the list of Indian betting sites to choose from.
Football is the second most popular sport in India, the first being cricket. The English Premier League happens to be the most watched league in India, with 41% of all Indians following football throughout the year. The list of Indian betting sites all provide betting on the outcome of each match, and bets such as doubles, trebles or goal scorers.
Field hockey was introduced in India when it made its way into the Indian army during British rule in the 1850s. The country’s first hockey club was formed in Calcutta in 1855. This was made possible by the availability of playing fields and the simple equipment required for a game.
In 1928 on their first attempt, the Indian hockey team clinched the Olympic Goal. The national team won six gold medals in a row from 1928 – 1956, adding two more in Tokyo in 1964 and Moscow in 1980. This international recognition catapulted the popularity of hockey all over the country.
The future of online betting continues to show more potential for revenue generation. With the list of Indian betting sites investing in fantasy sports growing, the industry is bound to hit unprecedented highs. Dream11 which is an Indian fantasy sports platform, holds the IPL title sponsorship. This endorsement goes to show how big the online gaming platform will be in the next few years.