Who doesn’t love an additional income source?! While some people opt for part-time work,
others diversify their investments. Then there are individuals who opt for sports betting to
create an additional income stream for themselves. Provided they know what they’re doing,
it can prove to be an excellent way to earn some extra cash. Online sports betting has
become a lot easier today considering the technological developments witnessed over the
past one decade.
While many nations have understood the economic potential behind legalisation of online
gambling, some still haven’t managed to regulate this activity and are missing out on its
revenue potential. For instance, Indians are crazy about gambling, but the country isn’t able to do much to tap into its revenues. As per the recent debate about Indian sports betting online, there are divided sides which extremely passionate about the pros and cons of online gambling and sports betting.
However, that hasn’t stopped European operators to make the most of the opportunity. Let’s learn more about India’s online betting market below.
India’s 1.3 billion population, of which 826 million fall in the age bracket of 18 to 64 years,
makes it a highly desirable market for the online sports betting companies. However,
research has revealed that only 23 million of that population is financially capable of
gambling online. Although that doesn’t sound very promising, it is inevitable that those
figures will increase with the middle-class earnings continuing their upward trend.
Growing internet usage
Irrespective of the fact that only 45% of India’s population is active online, the use of Internet and mobile phones is increasing with each passing month. In fact, it’s witnessing more than 60 million users growth per year. With global social media average usage at 45%, India has a lot of room to grow at just 23%. Nevertheless, it’s growing much faster compared to other markets. And it’s this growth which is encouraging mobile gaming companies to invest here.
An untapped market
Considering that gambling is technically unlawful in India, it can be perceived as a fairly new market. Despite that, there are many online casinos which cater to players from India.
On the whole, India is a fairly untapped market which is being looked up to by various providers to increase their revenues.
Please note, it being untapped is only one aspect. Another major element is that the sports
market of India is by far the biggest in the world. Although cricket enjoys the largest
following, other sports too have a healthy market share. For example, field hockey, tennis,
badminton and football all have a good number of fan following across the country.
It can be easily seen how making online gambling and sports betting legal in India can result in phenomenal revenues for not just the betting and gaming companies, but for the Indian government as well. With Europe getting more and more regulated, India serves as a major hope for betting and gambling companies to increase their customer base.