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What Are The Chances Of Legislation On Online Cricket Betting?

Cricket is ranked as the most popular sport in India today, and over a million of cricket fans across the globe. But in India, the craze of cricket is on an all time high with IPL being the most popular one. Taking this into consideration, it does not come as a surprise that online cricket betting has gained a lot of popularity. It is very attractive for the cricket lovers because the thrill of investment in the game is a way to participate in the journey. But the chances of cricket betting becoming legal are a big debate in the country.

The chances of legislation on online cricket betting are medium and a topic of discussion among the politicians. As cricket lovers engage in online cricket betting whether it is legal or not, the country’s leaders are conflicted about its legal status.

Except in some states, cricket betting is illegal in India. The estimated size of the Indian online gaming industry is huge in terms of money. In 2021, the industry was estimated to be around USD 12.36 million. It is estimated to grow up to USD 34.3 billion by 2025. Out of this amount, 40% contribution is that of the sports betting industry.

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ALSO READ: Benefits of Using Online Betting Sites And Casinos In India

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Apart from this, the statistics reveal that the amount of bets placed during the IPL in 2020 was around USD 6.8 billion. These revenues and exchange of funds are being seen as a good source of revenue for the government when it makes it taxable in the future.

Although the Indian government is trying to reduce the online sports betting industry, it has definitely failed to curb it. The demands of cricket betting are increasing despite taking several measures to eliminate it. Along with the offline bookmakers, the industry is witnessing a big rise in the number of online cricket betting apps in India. 

This is the primary reason that there are strong debates being held in the courts and legislative groups about legalization and regulation of the online cricket betting industry. If it is legalized, the government can earn a good amount of money and it will also create more jobs. Pointers from the UK Gambling Commission are being taken by the government to execute the legalization of gambling in India. 

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