IPL Betting in Numbers: How Much do Cricket Fans Spend on It?
The Indian Premier League has to be the most popular annual cricket event. Last year, the IPL had a total of 268 million viewers during its first eight matches. This is according to Star and Disney India and according to their data as well, the viewing minutes per match last year reached 6.62 billion.
Now, the IPL has always been popular in India because the country simply loves cricket. But what’s gaining more popularity not only in India but elsewhere in the world is sports betting. In India alone, there are over 140 million people who would bet on sports regularly and 370 million would do so during major sports events like the IPL.
The IPL combined with betting just makes the fans’ viewing experience a whole lot better. Their favorite sport just really becomes more thrilling and exciting when mixed when gambling. IPL-betting related sites are also flooded by cricket fans every time the IPL is on. Many would find TheTopBookies IPL tips extremely handy when placing their bets.
Why is IPL Betting a Hit?
People have different reasons as to why they enjoy placing bets on the IPL matches. Some see this as a fun activity or a great source of entertainment. Others place bets to earn money. In some instances, some people treat sports betting as a business. These are people who most likely not only bet on the IPL but also other sports.
Aside from these reasons, sports betting has become a more common activity and less of a taboo subject. Thanks to online casinos and sportsbooks, it’s something that people are more comfortable doing because they can place their bets anytime and anywhere they are.
Since the betting industry has gotten bigger, sportsbooks and casinos are now capable of luring more people in. They can now offer promos and bonuses that customers find hard to resist.
Another worth mentioning reason why more people showed interest in betting is the pandemic. When this started, people had to stay at home because of lockdowns. They had to find ways to entertain themselves without going outside. Many then resorted to gambling.
Even if there was a time when there weren’t a lot of sports to bet on when the pandemic started, people still found sports and non-political events that they can bet on. When sports came back, new punters continued with placing their bets.
It’s also easy to understand why more people are showing interest in betting whether it’s the IPL or not. Online gambling sites have made it easier to enjoy the activity. Plenty of bookies now offers in-play or in-game betting too which takes this activity to a whole new level.
Who are Placing Bets and How Much are they Willing to Spend?
According to a report released by MyBetting India last year, 88.4% of punters in the country are men and the rest are women. When it comes to age, 44.6% of people who place bets are between 18 to 24 years old. 32.5% are between the ages of 25 to 34 years.
With those numbers, it means that the majority of punters in the country are the young generation. The older generation is the ones who are still quite conservative and are likely to avoid any gambling activities. Also, even if they are placing bets, they are probably doing it offline.
When it comes to which states in the country are betting the most, MyBetting found that Telangana is on the top spot with 18.7%. This is followed by Karnataka with 13.2% and Maharashtra with 9.6%. This is very interesting because these states have been attempting to place a ban on online gaming and gambling activities since last year.
Conclusion
These are the numbers that MyBetting found based on legal gambling. It’s no secret that underground betting is thriving in India. Even before the pandemic, the underground market has been getting bets from people around India.
In 2013, a report was released about how white collars are the ones who are betting the most in the black market. According to this, IPL bets underground would go as high as Rs 40,000 crore. This was back then when betting wasn’t as popular today. With that, we can only guess that this number has gotten bigger in recent years.
According to sportsbooks operators when asked about why many people are betting illegally back then, it’s likely because the minimum bet underground is lower compared to how much legal bookies are accepting. Underground bookies also likely have a lower house edge.
Today, things have already changed and man sportsbooks are accepting low minimum bets. However, the illegal market is still there. Many would say that the only way to combat it is to regulate online betting in the whole country but right now, it’s hard to say whether this will happen anytime soon.
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