India has always been a country of contrasts. At times thoroughly traditional but also with hubs of technological advancement and modernity, A place with a huge rural population but also boasting mega cities like Kolkata, Mumbai and Delhi.
Today there is also a sharp contrast between the “official” line on gambling and the reality experienced by large numbers of Indian sports fans.
Because while the activity, with a few notable exceptions, has been illegal since laws were passed in 1867 forbidding it, the arrival of online sportsbooks has turned things upside down.
As a result, it’s estimated that around 140 million people indulge in betting on their favourite sports with numbers increasing to around 340 million during major events like the IPL or the football World Cup.
Because these sportsbooks operate offshore, they enter a kind of legal grey area, opening up the possibility for Indians to use them with impunity.
Globally, it’s estimated that the sports betting market is worth around $76 billion a year, a figure that is expected to continue rising at an annual rate of at least 10% for the foreseeable future.
While India only makes a relatively small contribution to the total at an estimated $2 billion a year, this is a figure that is set to grow exponentially in the next decade.
This will also be reflected in the increasing number of Indian online sportsbooks and other betting sites becoming available to Indian sports fans.
The key sports
It will come as no big surprise that the most popular sport for Indians to bet on by far is cricket. It’s not just a national interest, it’s a natural obsession. For proof of this fact, one just has to look at the fame of players like Virat Kohli and Sachin Tendulkar who are mobbed whenever they show their faces in public.
Of all the events in India’s cricketing calendar, it’s undoubtedly the IPL that generates the greatest interest and, therefore, the highest levels of sports betting. It also helps that it’s a sport that offers many more betting options than simply win or lose. With bets to be made on the total amount of runs scored, winning, or losing margins and even how many catches will be taken, the opportunities are almost limitless.
As previously mentioned, the football World Cup also presented a major betting opportunity for a sport that is becoming increasingly popular in the country. There is now a keen interest in many of the major leagues from around the world providing a wide number of betting opportunities.
With some of the biggest clubs including Manchester United, Barcelona and PSG having turned themselves into truly global brands, it’s little surprise that fans of the beautiful game on the sub-continent are always keen to bet on them.
Looking to the US, basketball is a sport that also has a considerable following among Indian sports fans. Like cricket it also offers a very wide range of betting opportunities adding to its appeal. The NBA, the governing body for the sport in the States, is also very keen to foster extra interest in it in India and has even set up an academy specifically to attract new players and introduce them to the sport.
One sport that has always enjoyed an exception from many of the rules preventing betting has been horse racing. It’s possible that the reasons for this were that it’s always been seen as a sport with a certain social cachet to it. Something that is underlined by events like the Indian Derby and the Indian Turf Invitation Cup. The advent of online betting has made placing wagers on these, as well as the many other races that are held round the year, easier than ever before.
Another emerging favourite for sports fans has been the world of fantasy sports. Already a major betting market in the US, this is now set for huge growth in the Asia/Pacific region as more and more people, and more sports, come on board.
Why India?
When it comes to answering the question about why India is taking such a huge interest in all forms of sports betting there may be two main reasons.
The first of these is that it has a predominantly young population with an average age of around 32 in 2023. Looking for new forms of entertainment, especially those involving tech is typical of this age group.
Add to this the increasing levels of online access becoming available across the country. Currently running at around 45% of the population up from 18% in 2017 this is also creating perfect conditions for recruiting new sports betting fans.
So, looking to the future, it’s fairly safe to predict that this is an activity that is set to grow and grow, to the undoubted delight of an ever-increasing proportion of India’s adult population.
