About the IPL

The brainchild of the Board of Control for Cricket in India (BCCI), the IPL has developed into the most lucrative and most popular outlet for the game of cricket. Matches generally begin in the late afternoon or evening so that at least a portion of them is played under floodlights at night to maximize the television audience for worldwide broadcasts. Initially, league matches were played on a home-and-away basis between all teams. But with the planned expansion to 10 clubs (divided into two groups of five) in 2011, that format changed so that matches between some teams would be limited to a single encounter. The top four teams contest three play-off matches, with one losing team being given a second chance to reach the final, a wrinkle aimed at maximizing potential television revenue. The play-off portion of the tournament involves the four teams that finished at the top of the tables in a series of knockout games that allows one team that lost its first-round game a second chance to advance to the final match.

Audiences across the globe will tune-in this April to relish the action. India’s sports betting market has a surprising estimated worth of over $100 billion, combined with a steady rise of 7% annually makes it a major attraction for bettors and betting providers across the globe. While mostly unregulated, the betting environment flourished in the past decade with states looking to enforce regulation individually where possible ensuring higher transparency in the local iGaming industry.

2021 season

This year, the season will kickstart on 9th April 2021 in Chennai with a high-octane clash between defending champions Mumbai Indians and Royal Challengers Bangalore. The World’s Largest Cricket Stadium – Narendra Modi Stadium in Ahmedabad will host the Playoffs as well as the final on 30th May 2021 which promises to be a visual spectacle. The newly-built stadium that hosted India’s second Pink Ball fixture at home with great grandeur will host its first-ever IPL.

We are looking forward to seeing the Indian Premier League’s new season start!

The post Indian Premier League (IPL) overview first appeared on Delasport.

Gambling in India – market Intro

The Indian betting market has been estimated to be worth over $100 billion, with an exceptional rise of 7% yearly. Despite being prohibited a great part of the population that has access to the internet doesn’t miss the opportunity to enjoy gambling on different sports leagues. Research in the past few years shows that this has been fuelled by the significant increase in the population’s disposable income, faster internet connection, and access to smartphones. This makes the burgeoning of the Indian betting market something well expected.

Regulations, limitations, and a bit of history

Although regulated in some states on a local level, only traditional lottery and horse racing are legal in all states, as well as games of skills like Fantasy sports, where you have a human player as an opponent rather than a bookmaker. An interesting fact is that Poker, Rummy, and Fantasy sports are considered games of skills and therefore allowed. On the other hand, games of chance are prohibited with the reasoning that the element of chance prevails.

Limitations exists also when it comes to e-casinos and venues. An Act passed in 1976 (Goa, Daman, and Diu Public Gambling Act of 1976) limits legal betting activity to five-star hotels and floating vessels, thus creating restrictions for anyone who is looking to venture into the landline and online gambling industry.

Read more about the 2021 top online casino trends

Even though Indian casinos cannot have sites that encourage online gambling such as casino, bingo, and sports betting, it is not illegal for offshore companies to have websites that focus on Indian players. The only requirement from a legal point of view – offshore companies need to offer Indian Rupees as a payment method for Indian players, which includes deposits and withdrawals. A popular payment method for eCommerce in India is NetBanking which allows integration to 61 of India’s domestic banks for access to all banking across India.

Legal side of the Indian gambling market

Despite being illegal, online sports betting in India is gaining popularity among the population considered to be the only way to place bets because bricks-and-mortar bookmakers’ shops and casinos are banned.

The consequences of illegal sports gambling are measurable with the lack of traceability of funds, huge revenue losses caused by the lack of taxation, possible corruption in sports, and match-fixing. With 60% of sports bets placed globally on the black market, it’s indisputable that India’s entire economy loses from the lack of legalization and regulation of this business market niche. It is estimated that the country loses more than $ 1.5 billion from taxes annually potentially coming from online casinos, also missing out on providing services to offshore companies.

*For other gambling business destinations, read more of our overview of the Latin American gambling market.

Off-shore story & recap

At this stage, it is hard to estimate how profitable it is for an offshore company to invest in sports gambling and online casino on the Indian betting market, considering the complexity of providing gaming regulation not only in particular states but all across the country. Statistics and research clearly show the increasing amount of funds invested in non-regulated gambling activities and the rising demand for legalized venues along with accessibility to regulated online sports betting and casino websites.

It’s in the hands of the government to initiate a change and make the best out of the current situation for both the country and its budding online gambling population. If the right decisions are made, the Indian betting market can become a financial injection of the country’s GDP.

The post The untapped Indian betting market first appeared on Delasport.