The India sports betting market is projected to exhibit a growth rate (CAGR) of 10.11% during 2023-2028. The increasing legalization and regulation of sports betting in India, rising internet penetration, and growing consumer interest in other sports leagues represent some of the key factors driving the market.
Sports betting is a form of gambling where individuals wager on the outcome of sporting events, ranging from popular team sports such as football, basketball, and cricket to individual competitions like tennis and horse racing. The basic concept of sports betting involves predicting the outcome of a sports event and staking money on that prediction. Odds, determined by bookmakers or betting platforms, indicate the probability of a particular outcome occurring. If the prediction is correct, the bettor receives a payout based on the odds and wagered amount. Conversely, incorrect predictions result in the loss of the bet amount. Sports betting offers an exciting and immersive experience for sports enthusiasts, adding excitement and engagement to games and matches. However, it also carries risks, and responsible gambling practices are crucial to ensure that individuals participate in sports betting responsibly and within their means. The appeal of sports betting lies in its dynamic nature, offering a wide variety of betting options, including moneyline bets, point spreads, over/under bets, and prop bets, among others. This diversity allows individuals to customize their bet based on their knowledge and preferences, adding an element of skill to the gambling experience. At present, sports betting is gaining immense traction across India due to improved accessibility and the growing popularity of online platforms.
India Sports Betting Market Trends:
In India, the rapid proliferation of smartphones and internet penetration that facilitate easy access to online betting platforms represents the primary factor driving the market growth. Moreover, the country's passionate sports culture, especially the fervor for cricket and the growing interest in other sports leagues, has augmented the demand for sports betting, with fans seeking to enhance their engagement with their favorite teams and players. Along with this, the recent legalization and regulation of sports betting in certain states that creates a safer and more transparent environment, attracting more participants, has accelerated the product adoption rate. Additionally, numerous advancements in digital payment systems and secure transactions that facilitate convenient betting experiences, encouraging more people to try their luck in the sports betting arena, are propelling market growth. Besides this, the rising fantasy sports platforms, where users can engage in virtual sports competitions and win prizes, have catalyzed the growth of the sports betting market in India. Furthermore, the increasing collaborations between sports leagues and betting operators, offering unique betting opportunities, are contributing to market growth. Other factors, including growing digital literacy and social media influence, inflating consumer disposable incomes, strategic marketing initiatives by sports betting operators, and the expanding middle-class population, are also creating a favorable market outlook.
India Sports Betting Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the India sports betting market report, along with forecasts at the country level for 2023-2028. Our report has categorized the market based on platform, betting type, and sports type.
The report has provided a detailed breakup and analysis of the market based on the platform. This includes offline and online.
Betting Type Insights:
- Fixed Odds Wagering
- Exchange Betting
- Live/In Play Betting
- eSports Betting
A detailed breakup and analysis of the market based on the betting type has also been provided in the report. This includes fixed odds wagering, exchange betting, live/in play betting, pari-mutuel, esports betting, and others.
Sports Type Insights:
- Horse Racing
The report has provided a detailed breakup and analysis of the market based on the sports type. This includes football, basketball, baseball, horse racing, cricket, hockey, and others.
- South India
- North India
- West and Central India
- East India
The report has also provided a comprehensive analysis of all the major regional markets, which include South India, North India, West and Central India, and East India.
The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
India Sports Betting Market Report Coverage:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Betting Type
- Sports Type
|Betting Types Covered
||Fixed Odds Wagering, Exchange Betting, Live/In Play Betting, Pari-Mutuel, eSports Betting, Others
|Sports Types Covered
||Football, Basketball, Baseball, Horse Racing, Cricket, Hockey, Others
||South India, North India, West and Central India, East India
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the India sports betting market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India sports betting market?
- What is the breakup of the India sports betting market on the basis of platform?
- What is the breakup of the India sports betting market on the basis of betting type?
- What is the breakup of the India sports betting market on the basis of sports type?
- What are the various stages in the value chain of the India sports betting market?
- What are the key driving factors and challenges in the India sports betting market?
- What is the structure of the India sports betting market and who are the key players?
- What is the degree of competition in the India sports betting market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India sports betting market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the India sports betting market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India sports betting industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.