IPL 2021 Likely To Crank Up Numbers For The Online Gaming Industry

by TrendingNews Desk

The IPL 2021 is right around the corner and the excitement for the sporting season is at an all-time high. The IPL Auction also left fans excited for the many new players that have been added to the teams and how well they’d be performing during the IPL season this year.

And with IPL 2021 comes the boom in the IPL betting industry. Online gambling and real-money gaming have recently climbed up the success ladder in the past couple of years. And the IPL season is definitely one of the most successful periods throughout the year for online bookmakers and betting sites.

So how will IPL 2021 affect the online gaming and sports betting industry in India?

The Recent Rise of Cricket Betting

IPL betting has always been quite popular in India, especially through illegal betting rings and local bookies that con people out of their money. But not many people know that physical gambling in India is illegal under the Public Gambling Act of 1867. This means that engaging with local bookies during the IPL season can land you in jail or with a hefty fine that you’d wish you didn’t have to pay.

However, for those fans who cannot stay away from the adrenaline rush of placing wagers and maybe making a wad of easy cash, online bookmakers and IPL betting sites have come up as alternative and safer options.

Since Indian gambling law has not yet mentioned the use of off-shore betting sites as illegal, these websites exist in a convenient grey area of Indian jurisdiction. Thanks to this legal loophole, most people in India can safely bet on the IPL online, without the fear of prosecution or fines.

The Growing Surge in Online Punters

One of the few reasons why real-money gaming and betting sites have recently gained a lot more users and popularity is thanks to the digitization of payments in India. Until a couple of years ago, Indians were only reliant on cash, making online betting almost an impossibility for them. But thanks to Demonetization and last year’s pandemic, the use of payment methods such as UPI and e-wallets have made it easier to bet online.

The resulting lockdown also brought more people onto their phones, seeking quick and profitable entertainment. This came in the form of real-money gaming apps, where people could enjoy a game of online rummy or teen patti, while also making a bit of extra money.

Combine these factors with the passionate love for cricket that was already existing within the Indian populace, the use of IPL betting sites was sure to shoot up and IPL 2021 is not looking to be an exception.

Will IPL Betting be Legalized?

With the growth in this multi-billion dollar industry, many experts have begun to guess that legalization and regulation of the online gambling industry is not a far-fetched notion in India. A lot more countries in the world have had more success with controlling the negative aspects of gambling by proper government regulation.

In fact, many Bollywood celebrities are of the opinion that if online gambling cannot be stopped entirely, then it is better to just embrace the tradition and bring a lot of black money into the open.

Since regulation is better at protecting the users as well as earning the government a hefty amount of money in taxes, then it seems that the IPL betting industry may soon see a change in policies.