IMARC Group, a leading market research company, has recently releases report titled, “India Sports Betting Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the India sports betting market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the India sports betting market?
The India sports betting market is projected to exhibit a growth rate (CAGR) of 10.11% during 2023-2028.
What is sports betting?
Sports betting involves placing a wager or bet on the outcome of a sports event. It includes predicting the result and placing a monetary stake on a team, player, or specific outcome. This practice is popular in sports such as football, basketball, and horse racing. Based on their predictions, individuals engage in sports betting for entertainment and the potential to win money. However, it is crucial to exercise caution and responsible gambling practices while participating in sports betting. The industry is regulated in many regions to ensure fairness and prevent issues like addiction. At present, sports betting is gaining immense traction across India due to its accessibility through online platforms and the growing popularity of sports events.
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What are the growth prospects and trends in the India sports betting industry?
The India sports betting market is primarily driven by the rising digital accessibility owing to the widespread adoption of smartphones and affordable data plans. Moreover, the growing popularity of international sports leagues, particularly cricket, coupled with the emergence of fantasy sports platforms, has accelerated the product adoption rate. Apart from this, inflating disposable incomes among the young and tech-savvy population has catalyzed market growth as more individuals seek entertainment and potential financial gains through sports betting. Furthermore, the rapid shift toward regulatory discussions and potential legalization across the country that spurs cautious optimism among operators, investors, and consumers is propelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Platform Insights:
- Offline
- Online
Betting Type Insights:
- Fixed Odds Wagering
- Exchange Betting
- Live/In Play Betting
- Pari-Mutuel
- eSports Betting
- Others
Sports Type Insights:
- Football
- Basketball
- Baseball
- Horse Racing
- Cricket
- Hockey
- Others
Breakup by Region:
- North India
- South India
- East India
- West India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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