It is estimated that around 140 million Indians gamble regularly. This number gets even bigger every time a major sports event is ongoing, such as the Indian Premier League. MyBetting reported that during such seasons, around 370 million Indians would place their bets.
These numbers only show how popular online betting has become in India, and we can all agree that the latest technologies are one of the driving factors of this phenomenon.
But what technologies are helping online betting platforms get to where they are today? Let’s take a closer look.
The Rise of Mobile Usage in India
India already has over 624 million internet users as of 2023, and that’s around 45% of the total population.
The majority of online users in India are using their mobile devices. Smartphones are now cheaper yet powerful, so more people simply have access to activities such as mobile betting.
More significantly, the median mobile internet speed increased by 26.9% to 18.33 Mbps. This improvement has surely motivated locals to explore online activities such as gaming and betting.
Mobile betting apps have only capitalized on this trend. They keep things more interesting by also offering other services like live streaming, in-play betting, and comprehensive cricket coverage.
Among the popular mobile betting apps in India today are 10CRIC, Parimatch, 22Bet, and Bet365 stand out. These are platforms with mobile-friendly websites. The best betting app in India even has dedicated mobile apps that users can download for easier access.
Innovative Online Betting Platforms
Online bookmakers are always looking for new ways to maintain the value of their services, and most of them rely on the latest technologies.
These are some technologies that many popular betting operators are using right now:
Artificial Intelligence and Data Analytics
AI algorithms analyze vast amounts of data to offer personalized betting suggestions, improve odds calculations, and even detect fraudulent activities. Some platforms would even use this for responsible gaming.
After a long betting session, if you’ve ever received a message from a sportsbook or casino, it was probably sent by their AI system.
Data analytics is also what allows platforms to understand user behavior, tailor promotions, and optimize odds for maximum engagement.
There are now plenty of betting sites offering customized bonuses to their promotions. They’re not just guessing which offers might interest the players. They are analyzing how their customers place bets so they know exactly what could make them claim an offer.
Use of Blockchain and Cryptocurrencies
Blockchain technology and cryptocurrencies have helped to alleviate some of the major problems associated with online betting, particularly those about security and transparency.
More and more betting operators are starting to support cryptocurrencies like Bitcoin. They offer users an additional layer of anonymity and faster, borderless transactions. These are particularly appealing in markets with strict regulations on online gambling.
Virtual Reality and Augmented Reality
Virtual and augmented reality technologies are revolutionizing the wagering experience by obfuscating the distinction between the real and virtual worlds.
Virtual reality (VR) technology creates a more realistic betting environment by allowing players to fully immerse themselves in virtual casinos or sports stadiums.
AR, on the other hand, improves live betting by superimposing current odds and statistics over live sporting events. These technologies also enable social experiences as some betting activities that support VR/AR devices can allow players from all over the world to socialize.
Status of Online Betting in India
In India, the laws governing internet betting are complicated and differ from state to state. The Public Gaming Act of 1867 and the Information Technology Act of 2000 are federal laws governing betting activities, and they do not specifically address anything related to online betting.
Now, some states like Sikkim and Goa have legalized and regulated online betting. However, regulated online betting operators in those states can only offer their services within those territories. Since not everyone is willing to travel to enjoy regulated betting services, they flock to offshore operators instead.
Meanwhile, states like Telangana, Andhra Pradesh, and Karnataka have explicitly banned online gambling activities because of concerns surrounding possible addiction, money laundering, and the potential for social harm.
However, it seems like enforcement is a challenge they’re facing because Telangana, for example, is still one of the states where online betting is most popular
Conclusion
We might see more online bookmakers support features like blockchain and cryptocurrency.
Immersive betting can also continue to evolve. We’re not just talking about live betting. Wearable like smartwatches and lenses can also be game-changers.
Indeed, it would be interesting to see how these and other advances affect India’s online betting sector in the next few years.