The Business of Betting: How Sports Wagering Platforms Are Disrupting Digital Entertainment in India

Sports betting in India is not a recent development, it has been around for thousands of years dating as far back 2500 BC. Researchers have learned a lot of this long culture of sports betting by studying the ancient stories of Ramayana and Mahabharata where they discovered that people bet by rolling dice that were made from terracotta.

In India, the era of modern sports betting began in the 1960s and 1970s.  This created an increase in the number of bookmakers around the country which increased the gambling business. It was now easier for Indian sports bettors to place bets and access the bonuses of physical bets. This practice continued until the early 2000s and the creation of many online sports betting platforms. 

The introduction of virtual bookmakers translated into an explosion of rapid growth in the number of users who chose to use online betting in India.  Individuals could now remotely access platforms from the comfort of their homes. The increase in access to mobile devices in the past decade has also meant that many sports betting applications were created. Bettors could now place and monitor their bets from anywhere, even if they were out and about.

India’s Digital Revolution Isn’t Just About Fintech and Edtech It’s Also About Gametech

In the 1990s and early 2000s access to affordable smartphones and a better internet infrastructure meant that India was caught up in a rapidly evolving technological revolution that was originally more centred around fintech and edtech. 

In recent years there has been an emergence of gametech and the gaming sector of which a large sector is sports betting has grown rapidly. This has created an entirely new economy that combines India's national obsession with games like cricket and fantasy sports with their insatiable appetite for digital entertainment. A combination that has immensely contributed to the broader digital transformation that is sweeping across the country.

There has been such an increase in online sports betting in India that the Law Commission of India recommended legalising all betting activities in 2018. Unfortunately these new laws did not pass in all states and many provinces are still governed under the archaic Public Gambling Act of 1967 which regulates most forms of gambling and does really address online betting. Despite these grey areas online sports betting is taking India by storm and it does not look like the demand will go down anytime soon.

To keep up with the rising demand for online betting platforms, developers are creating state of the art user interfaces and a technical infrastructure which includes innovations in cloud gaming, augmented and virtual reality, systems that support multiple users, advanced graphics, and the use of AI so that games can compete with other international providers.

Esports has become very popular and has led to the creation of streaming platforms where followers can watch live steamed sports tournaments and professional gaming leagues. Cheap mobile phones and internet subscriptions helped give access to users in both rural and urban areas and has made India one of the largest gaming audiences in the world. 

There has been a lot of investment and support in favour of gaming policies both on a national and international level and there is a lot of money that is being given to Indian gaming startups and the government finally acknowledging that gaming is a legitimate technological sector that can greatly contribute to the growth of the Indian economy.

As a result, there has been an increase in mobile phone apps that give users access to all of the action on the move, and India has transformed from being a consumer to an important provider of gametech making it one of the fastest developing technological sectors in India at present.

How Platforms Like Puntit India Are Capturing the Attention of Sports Fans Through Real-Time Betting

India's iGaming market is rapidly expanding. One of the most powerful ways platforms can attract games is by offering real-time betting and leading sports betting platforms like Puntit India understand that by offering sports fans a feeling of excitement and immediate gratification they can capture their attention. The 

There is a big potential for market growth as online sports betting continues to gain popularity due to easy accessibility to digital platforms and the continued evolution of consumer preferences. This increase in consumers in the sports betting entertainment sector can be attributed partly to the easy accessibility of reasonably priced smartphones and increased internet coverage, the provision of real time data, live streaming, odds analytics that are continually updated so that players can follow the continually changing odds. There is also a growing interest in major sports leagues such as the Indian Premier League and international cricket tournaments will only help to further drive market growth which is estimated to be more than $16 billion by 2033.

Mobile-first experiences are another way that sports betting platforms can attract and captivate new users. In a recent survey, users indicated that they enjoyed the flexibility of being able place bets from the convenience their smartphones and mobile betting apps are the preferred method ahead of use of a personal computer or going to the booking to place it in person. Therefore in order to stay ahead of the competition online sports betting platforms need to ensure that they can offer their users high speed seamless user access through mobile apps.

Sports betting apps have a massive potential for monetization. One of the most common ways of generating revenue is by taking a very small percentage of each bet that is placed which is called the “vig” or “juice” and the model ensures that the revenue earned is directly connected to the activity of the user making it easy to use to scale. By using a commission model that is profitable but competitive, platforms can attract a larger user base while receiving a consistent income by retaining existing customers and increasing revenue growth by attracting new users. The monetization model is very effective when a platform targets areas that have an active betting culture such as India.

Puntit India Is The Perfect Online Platform for Sports Fans to Enjoy The Thrill of Real-Time Betting

Are you a sports fan who loves following your favourite sports team and the excitement of placing a wager on them? If so then you should explore Puntit India where you can bet on popular sports in a safe and secure environment where your predictions can be transformed into the excitement of winning. All you need to do is follow a few simple steps to set up your online account, deposit funds using the payment method of your choice including crypto and then you can access all of the fun and action. 

You can bet on your favourite sport or team which includes cricket, football, tennis, ice hockey, badminton, Formula 1 and many others. All of the games feature live states so that you can monitor the game in real time. While you are waiting for the results of your sports match or not betting on sports matches you can also try your hand at the wide assortment of casino games and experience the immersive fun of playing at live dealer tables.

New joiners will be offered one of the best welcome bonuses in India with the sports bettors package that includes a 100% Deposit Match up to 20,000 INR, 500 INR Casino Bonus, and a Lucky Dip spin! 

Pundit India is fully licensed by the Curçao Gaming Control Board and adheres to the rules of fair gaming so whether you are playing on your PC, your favorite mobile device or out and about on your smartphone, you can rest assured that all of your personal details, and financial transactions are protected from prying third parties through robust SSL encryption systems.