Sports Betting in India is not Legal but that doesn’t stop the bettors from Betting on their favorite sports and earning lots of money in a short period of time. The market for Sports Betting has increased manifold with the starting of online Betting and Fantasy Sports which we talked about in a previous article and it will only grow further. Let’s look at the scale.

As we said before that Sports Betting is not legal in India but it should be made legal because it will only increase the money that the government will receive from all the bets that will be done in India during different sporting events. Only Horse Racing is given legal status to bet on as it has been going on for centuries. To identify the scale of sports betting in India is difficult because of the missing regulatory standards and government recognition.

Also Read | Positive and Negative Effects of Sports Betting on Sports

Main Points driving sports betting in India

There are a few main points that are driving the sports betting industry in India which we will talk about here. The first is real money gaming and a close connection to the favorite sporting events that one loves to watch and Betting on them whether it be based on knowledge or emotions of the person involved. The legality of sports betting is not a detracting force for the bettors as they look for the Cultural specifics such as territory of the type of sports involved, or technological constraints or personal preferences of the Bettors which can range from back alley markets to fantasy Sports on mobile phones.

Horse Racing is the only exception to the rule where it has both social and legal acceptance as it involves a game of skill as to which horse to bet on and how much to bet on that horse? And as far as the other sports betting activity goes the central government has given the right to the state governments to form their own laws. Different States have different rules for online send for example Sikkim has allowed online sports betting since 2008. On the other hand there are some states that are totally against the idea of sports betting and they are Telangana in 2017 which was amended, Assam since 1970 , Odisha since 1955.

Also Read | Who bets on Sports in India?

The numbers of Sports Betting in India

There are no definitive numbers that are there for the sports betting industry in India because of the government legality issue but for example when the Indian team plays an ODI match then the illegal Betting amounts to 20 crores or more per match. Every year the sports betting market in India touches the $60 billion mark and it will only grow in the years to come and the amount of betting that is done in the IPL is the highest in the whole year. And if Sports Betting is legalized in India the amount will increase to 3 lakh crore and the government can charge 30% tax and get a lot of money to help the poor people of India.

Also Read | Top 5 Reasons Why Sports Betting should be legalized in India

The Future of Sports Betting in India

The future of sports betting in India is bright even with the no legal status as more and more people are coming into online sports betting and earning money this industry will soon be ay $90 billion a year from the current $60 billion a year and the user base will also increase to many crores of people across the nation in both urban and rural areas and then only the true potential of sports betting will be realized in this nation and with it hopefully the legal status will also be given

Also Read: How Fantasy Sports became a New Generation Online Betting?