In numbers, they estimate that there are around 124.2 million cricket fans in the country, and the three other sports mentioned earlier are in close competition with around 23 to 28 million fans. Unsurprisingly, the Indian Premier League has the biggest fan base with over 95 million in population.
The popularity of cricket has always been hand in hand with cricket betting. MyBetting India reports that around 370 million Indians would place real money wagers on major and minor sports events each year, and around 80% of these wagers are on major cricket matches like the IPL.
It’s no wonder why many online betting operators like 10CRIC – best place for cricket betting online, are now more interested in the Indian cricket betting market.
But Why Are People Betting on Cricket?
Besides cricket being extremely popular in India, there are other reasons why the cricket betting market in the country is ever-growing. Let’s have a look at some of them:
Cricket Has a Busy Calendar
The cricket calendar worldwide is jam-packed with major and minor events. Some major tournaments would even overlap each other or go back to back.
Last year, the IPL ran from April to October 2021 and the Vitality Blast in India started in June and ended in September 2021. The Hundred Men’s Competition happened from July to August 2021. Tours are also happening year-round. The bottom line is that cricket punters will always have something to wager on.
It’s a Great Way to Make Quick Cash
Cricket betting and other forms of gambling are always a fun way to earn a few bucks. It’s no secret that India has a massive population and it’s not hard to understand why there is a shortage of job opportunities.
That said, many of them have to get creative in earning more money. Some are easily turning to cricket betting because it’s something that they know best. Indeed, Indians are well-versed in cricket, so they’re more likely to place logical bets with great chances of winning.
Good Way to Show Support to Their Favorite Teams and Cricketers
Some punters don’t necessarily mind winning or losing their bets. What’s important is that they feel satisfied with trusting their favorites to win. While teams don’t earn from online betting, it’s likely that once they know they’re the favorites, they’re motivated to perform.
Betting is Made Easier and More Accessible
Nowadays, it’s so easy to place bets thanks to online sportsbooks. Almost gone are the days when people have to line up in sportsbook shops before the matches begin. In India, sportsbooks are not legal in the majority of states.
Since the Public Gaming Act of 1867 and the Information Technology Act of 2000 has nothing on online betting, the locals are free to place bets on offshore bookies without getting into any trouble. And of course, they’ll do that because gambling businesses are only regulated in three states. Not everyone has the time to travel to Goa, Sikkim, or Daman to place their bets in licensed gambling establishments.
Mobile phones are also now powerful enough to make online betting easier. No need to rent a PC or buy one so people could bet online. Even in-game or in-play betting is now conveniently available even on a mobile device.
Some cricket punters surely only place bets for entertainment. It’s known that Indians also love to gamble, so it’s not surprising that they’ll mix their favorite sport and activity for a much more fun experience.
Some punters also love the challenge that online betting has, especially the ones who enjoy in-game betting. It’s a fast-paced way to bet on their favorite sport which can be more thrilling to some. Of course, it’s also pleasurable to win big, and that’s the ultimate fun anyone can have when betting on cricket.
Cricket will remain the most popular sport in India for a long time and as long as it is, nothing will also trump cricket betting. India’s online betting market has a CAGR of around 12% from 2022 to 2030, so we can only expect that more people will be betting on different sports events including cricket in the coming years.