Virtual Betting Rises in India

Indians love to gamble. And though online sports gambling is technically illegal in the country, that hasn’t stopped virtual sports betting sites from proliferating in the digital space. It’s due in part to the popularity of cricket among Indian consumers.

One online company reports 22,000 visitors a month

Betting on the ICC Cricket World Cup, which began last month and runs through March 25, has drawn attention to a rise in virtual social gaming sites in India, reports the Indian Economic Times.

According to the website, the Indian gaming market generates Rs. 3 lakh crore (US$60 billion) annually. About 40 percent of internet users in India have admitted visited an online gambling site, reported SBC News.

Betmockers CEO Tabrez M. Shaikh, whose company offers virtual cashless games, told the Times that its virtual betting services are popular among Indians and India’s expatriate communities, including Europeans and people from the U.S.

“The season of seasons is here for all the cricket aficionados,” said Shaikh. “Where during IPL we clocked 13,000 visitors a month, with World Cup, even before it began, we started clocking around 22,000 visitors a month.”

Revenue for companies like Betmockers are derived from advertisements by online shopping portals on their sites and in-app purchases.