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  • Exploring The Trends In Online Betting Growth In India

    Published on February 22, 2024

    Online betting has been prevalent in many countries for several years – it is relatively new in India. But interestingly, India has already caught up with the other nations and is now recognized as a booming online betting market. Market studies suggest that India’s online betting industry is expected to grow at a CAGR of nearly 7 percent between 2024 and 2028. (Source)

    Today, Indian legal sports betting websiteshave not just surged massively in numbers but also experienced significant transformations. Let us find out the ruling trends in the evolution of India’s online betting market.

    • Rise of e-sports betting

    E-sports betting is a comparatively recent form of entertainment that has gained rapid popularity in India. E-sports, or electronic sports are like multiplayer competitive video games, which are extremely popular among Indian youngsters. Betting on virtual e-sports tournaments is known to have immense mass appeal leading to enormous viewership. So fans can engage with these competitive games at a much deeper level via betting.

    • Dominance of cryptocurrencies

    Now that India is witnessing a skyrocketing popularity of cryptocurrencies, it is no surprise that cryptocurrencies will have a major impact on the country’s online betting market. A growing number of leading and trusted online casino platforms are nowadays supporting popular cryptocurrencies for deposit payments and fund withdrawals. This is primarily because cryptocurrency transactions, owing to their underlying blockchain platform, offer a superior level of payment security as well as user discretion.

    Of course, conventional modes of payment will still be supported by online betting sites alongside crypto payments.

    • Enriched user experience through immersive technologies

    Both cutting-edge immersive technologies, Virtual Reality and Augmented Reality, can push India’s online betting market towards a major paradigm shift. VR glasses and smartphones powered by AR, have paved the way for creating a highly immersive experience whether you consider online casino games or poker tournaments. VR can enable users to take part in specific tournaments on virtual online casinos assuming their own avatar. AR-powered online betting sites can offer a whole new level of gaming experience to users.

    • More live dealer games

    Live dealer games where players can engage with an actual dealer rather than AI, are in great demand. These live dealer games offer a realistic and legitimate wagering experience that users can relate to. With the steady adoption of AR and VR in online betting platforms, users can look forward to playing more live dealer games, using simply their smartphones or other mobile devices.

    • Popularity of microbetting

    Microbetting is tremendously popular in online cricket betting in India; it involves placing very specific bets on highly specific events or moments. As per experts, this trend is likely to gain more traction in the upcoming days, leveraged by groundbreaking technological advancements. Microbetting is set to become the most preferred mode of betting for many people and is likely to become the game-changer in India’s online betting market.

    Conclusion

    Trends and further technological innovations, along with clarity in legal regulations, can surely catapult India’s online betting market to newer heights.

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