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We are witnessing a staggering growth of online sports betting in India: what’s driving it?

India is one of the fastest-growing markets in the global online sports betting industry, with estimated revenues of nearly 1.70 billion for 2023, almost 22% up compared to the previous year. Interestingly, it is projected that the market will experience further growth in the years to come, due to various driving factors, triggering a rise in the demand for online betting services. 

From the genuine love for sports to the upgraded access to high-speed internet and smartphones and from the increase in betting supply, fueled by the growing availability of bookmakers and platforms that provide ranking betting sites in India, to the growth of online gaming and eSports, all these factors are actually pushing the frontiers of the current state of the market. 

Strong interest in sports and hardcore fans

Indians have traditionally been a population attracted to gambling, which means that the whole culture works as a fruitful ground for sports betting to develop. But what makes the Indian population more prone to sports betting is the love for the sports themselves. 

With cricket being the most popular sport in the country, people have grown into hardcore fans of games, competitions, and leagues and have extended their enthusiasm and support for the sport into the betting realm. 

Now, just watching a cricket game. for instance, is no longer sufficient for the fans. They want more action and more engagement and they are able to have these with sports betting. And the more the sport grows in popularity and achieves global attention, the more people seek to gain a more immersive and interactive experience while watching cricket games. 

Cricket may be the number one driver of growth in demand for betting on sports, but it is not the only game that Indians get to be interested in. Football, field hockey, and even basketball are getting fans largely excited and thrilled about wagering. 

Access upgraded!

The interest in sports betting begins with a genuine love for sports, but what makes it materialize is the fact that Indians have access to incredibly fast internet speed and that a very big share of the younger population has mobile and smartphone devices. Having a smartphone and high-speed internet access is what you want to be able to have access to sports betting platforms and sites, such as those that are reviewed at Allbets.

 

People can place wagers 24/7 from their whereabouts and with the greatest convenience possible. It only takes a click on their mouse or a tap on their smartphone and a sports betting app - nearly all new Indian bookmakers and HI betting sites now have mobile apps- to begin placing bets on their favorite sport and back their favorite teams and athletes. 

More supply

The demand for online sports betting has grown remarkably and it has been accelerated by the easier access of people to platforms and online bookmakers, but it is also the huge availability of these sites that is driving further increase in the market. 

There is now an extended list of betting sites offering Indians the chance to perform one of their favorite pastimes. The number of bookmakers keeps on growing and growing, only to verify that we are talking about a really big industry, a booming market, and consequently a wealth of opportunities for profit-making. 

More supply also means more opportunities for betting as far as the Indian bettors are concerned. Greater competition means improved services, prices, odds, and markets, while all these eventually make online sports betting more attractive!

Online gaming and eSports

Both online gaming and eSports are thriving in India. Both are also making their own, big contributions to the growth of online sports betting. 

In the past few years, online gaming has experienced a rising popularity in the country, with more and more Indians reporting that they are playing online games and this has extended to betting on these games, which brings us to eSports and the whole competitive video gaming hype!

India is now one of the biggest eSports markets in the world, meaning that there is very high penetration in terms of participation and viewership. eSports have become so popular that the number of tournaments organized in the country is continuously rising, dragging global attention. As leagues, competitions, and tournaments get to have widespread popularity, they also get to be more appealing from a betting perspective as well! 

 

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