Many wonder whether betting is a popular activity in today’s world. After all, new forms of entertainment and things that compete for our time show up almost daily. This question is even more interesting regarding Cricket since there may be an increase in other types of betting but not on this particular sport.
As it turns out, betting has increased steadily over time, mainly thanks to the advent of smartphones, which allow placing bets anywhere. Is it the same with Cricket? How popular is the sport anyway?
Cricket Is Surprisingly Popular
Let’s take a look at Cricket as a sport first before analyzing the rising popularity of cricket betting. When guessing about the most popular sports in the world, Football probably comes at the top for most people, which is correct. Football is the most popular sport worldwide.
But it’s perhaps surprising for many to discover that Cricket is the second most popular sport worldwide. How is this possible? After all, other sports like American Football or Baseball are widely portrayed on TV and in movies. The critical fact is that Cricket is the most popular sport in India, with 1.393 billion inhabitants.
While India probably makes up the bulk of Cricket fans worldwide, the sport still enjoys a broad audience in the United Kingdom, Pakistan, Australia, South Africa, and many other countries.
There are an estimated 2.5 billion Cricket fans worldwide.
The Indian Premier League is also one of the most followed tournaments in the world. It’s always among the top ten most-watched tournaments, along with the Football World Cup and the NFL.
Cricket Betting Matches its Popularity
Since there’s such a massive interest in the sport, there’s an enormous betting market around it too. Because of how many fans Cricket has in India, most betting comes from this country.
Some online sportsbooks get many new registrants each month from India. To get an idea of the numbers,
Online -Adda UK with an average of 5,000 monthly registrants. Most of these people join to bet on Cricket.
Betting on physical locations is primarily illegal in India, but there’s a grey zone regarding online betting. Since it’s not legal nor illegal, most people in India bet online, which increases the number of online bets on Cricket even more since there are almost no brick-and-mortar alternatives. Most bets occur around the period of the Indian Premier League.
Why Is Cricket Betting More Popular Each Day?
There are several reasons for Cricket betting becoming more popular over time. First, the sport enjoys growing interest from people worldwide, mainly in India. Since the world population keeps increasing, more Cricket fans join the ranks each day. Naturally, the more fans a sport has, the more bettors it’ll have.
Aside from this, new technologies have emerged to make everything easier, including betting. Years ago, betting on a sport meant going to your local bookie. When online sportsbooks appeared, you needed a computer with a good Internet connection. Today, smartphones allow you to place bets fast and easily from anywhere. This increases betting interest exponentially.
There are also some perks of betting online. For instance, some sportsbooks offer detailed information on matches, including analyses. Others let you watch the matches live on their platform. And since there are so many online sportsbooks, it’s easy to browse until you find one with the best odds and offers more features.
New payment methods are also behind the increase in the popularity of Cricket betting. New, simpler-to-use eWallets, Cryptocurrencies, and other methods allow more people to bet on Cricket than before. Now, having a bank account or credit card to place a bet on an online sportsbook is unnecessary.
Has Its Popularity Peaked?
The short answer is not by a long shot. While there are no explicit Cricket betting numbers, the online betting market is growing at a splendid pace and will continue to do so at a rate of 11.7% per year. This includes all forms of gambling, including casino games.
In 2021, the global value of all online gambling was 57 billion USD. By 2030, it will reach 153 billion USD, making Europe the biggest-growing market. This will open up the possibility of reaching new Cricket fans in places the sport still needs to be more popular.
Summing Up, Cricket Betting Is Here to Stay
There are many reasons why Cricket betting is so popular. The important news is its popularity is only growing and will continue to do so in the foreseeable future. Gambling platforms innovate all the time to provide more effortless betting experiences.
If you’re interested in Cricket betting, remember to research before joining any online sportsbooks. There are many factors at play, including your safety, which one has the best odds, and if there are good promotions.