Online betting has grown exponentially in India thanks to high internet usage and the convenience of online betting. According to statistics, there are approximately 140 million regular bettors, and over 370 million Indians bet during major sporting events. In this article, you will find everything you need to know about online betting in India.
Is Online Betting Illegal in India?
As far as federal laws go, online betting in India is legal. There are no federal laws against it.
However, it’s important to note that online betting has been made illegal in some states. Remember, Indian states are mandated to define their gambling laws.
In Maharashtra, for example, a state that accounts for approximately 10% of the bettors in India, online gambling is prohibited under the Bombay Wager Act.
Best Sports to Bet on in India
The next important thing to know is the best sports to bet on in India. Well, there are so many types of sports to bet on in India, including cricket, basketball, horse racing, rugby, soccer, tennis, volleyball, motorsports, virtual sports, and eSports, just to mention a few.
But then, cricket, being the most popular sport, attracts most of the sports betting enthusiasts in India, especially during top-tier cricket events, where the number of bettors increases tenfold.
How to Bet on Cricket
Cricket betting is just as straightforward as soccer betting and other forms of sports betting. The idea is to stake money on specific outcomes, dubbed as markets. For the record, these markets are influenced by odds, which represent the probability of the outcome.
Cricket Betting Markets
There are four classifications of cricket bets (markets), as explained below.
- General Cricket Bets: These are the most popular cricket bet types and include match bet, tied match bet, double chance, series winner, and outright winner.
- Team Proposition Bets: These bets are founded on a proposed outcome of an event that involves the team as a whole. The betting options list here includes win toss, toss combination, first innings score, over/under score, most match sixes, most runs out, and total fours.
- Cricket Player Proposition Bets: Unlike team proposition bets, these are based on a proposition outcome that involves players. Examples include top batsman, the top batsman team, top bowler, individual bowler wickets, batsman match, the man of the match, player of the series to score 50 runs, etc.
- Cricket In-Play Proposition Bets: Also known as live proposition bets, these are outcomes wagered when the match is underway.
Cricket Betting Odds
Odds represent the probability of the event happening. As a rule of thumb, the higher the odds, the less likely it is for you to win the bet. But then, this is not always true in sports betting; there are upsets.
Now, there are three odds formats; British odds, American odds, and European odds. So, how do they work?
- British Odds: Also known as UK odds, these are represented in fractions. The digit on the left (numerator) is the amount you win, while the one on the right (denominator) is the amount you need to stake.
- American Odds: These odds, also known as US odds, or Moneylines, have two sides; underdog and favorite. Underdog odds have a (+) sign and represent the amount players win as profit for every 100 units staked. On the other hand, favorite odds have a (-) and represent the amount bettors need to wager to win 100 units as profit.
- European Odds: Going by their other name, decimal odds, these are represented in decimals. They represent the total money bettors win for every 1 unit wagered.
While odds are represented in different formats, the payouts are the same.
Best Indian Online Betting Sites
There are so many bookies in India; some are genuine, while others are frauds. While signing up is pretty straightforward, your choice of bookie can be the deal maker or breaker.
To ensure that your money and data are safe, play on an offshore sportsbook that is licensed by a renowned online gambling regulatory authority.
Next, check the betting options’ availability to ensure all your favorite cricket tournaments and competitions are covered, and the betting options are vast. The top tier events, for example, The India Premier League (IPL), may not be available for betting all year round. Still, some betting sites offer extras, such as virtual cricket betting and even eSports cricket betting.
The odds vary from one bookie to another, so compare a few sites and find one that offers the highest odds.
Finally, assess the usability of the particular bookie. Here, aspects such as user-interface, mobile compatibility, banking options, and customer service are essential.
There you have it, folks; a beginner’s guide to online betting in India. For the newbies, free bets will come in handy as they allow you to bet on your favorite sports, be it cricket or soccer, without spending your money. Besides, Indian bookies have plenty of bonuses and promotions for bettors, so be on the hunt for such offers!