The Impact of Technological Innovations on Cricket Betting in India
- By Mukesh Kumar
- May 27, 2020
- 582 views
It goes without saying that technology has transformed almost every sector across the globe, and the betting industry is no exception to it.
Recent technological advancements have helped the gambling industry thrive, given that people can now access their favourite sports on their mobile devices. Also, the online betting platforms offer various incentives and bonuses that can help players in optimizing their payouts.
In this article, we’ll take a look at how technology has impacted cricket betting in India.
The history of cricket betting
Cricket betting is by no means a modern development brought about by the era of televised matches or the internet. Various documents suggest that cricket betting was rife during the mid-1600s.
Numerous large bets were placed during that time which resulted in the parliament placing monetary restrictions on cricket betting. The Gaming Act 1664 was introduced to limit the amount that punters were allowed to wager on a cricket match.
Cricket betting experienced a surge in the 18th century. And with the introduction of new formats such as T20 and One Day International (ODI) in the 20th century, betting on cricket evolved and grew exponentially.
How mobile apps have changed cricket betting
Technology has radically transformed the face of the betting industry. Today, bettors can use their smartphone or tablets to place bets on their favourite players and teams. Currently, mobile apps have a massive influence in the industry and have overtaken traditional bookmakers.
Mobile betting saw an 84 percent increase in 2015. In 2019, the mobile betting industry took over 50 percent of the overall online gambling market. Today, many players prefer mobile betting as it allows them to place bets anywhere, anytime.
The changes in technology have facilitated betting in the new digital era and have been beneficial in India and other countries where sports betting is illegal. Cricket is one of the most popular sports in India, Europe and Asia.
Online betting has increased in popularity thanks to offshore providers that offer online betting services with no regulation from the Indian government. There are various sites that accept bets in Indian currency and cover all the major events and markets.
Cricket generates massive revenue for India and betting on it is seen as a big event. This is changing due to betting fronted by mobile technology, as people don’t need to wait for the next sporting events to place bets.
The future of mobile betting
As seen with other countries, governments can gain a significant amount of revenue from allowing companies to offer legalized gambling services. Various betting organizations have already moved to set up outlets within Sikkim, and a more relaxed gambling environment would surely see India become a valuable nation to casino providers given its size and a massive population.
There is clearly a large demographic for cricket betting in India and only time will tell whether the government will allow companies to offer land-based betting services in India.
Source : NewsOnFloor