The regulated and grey markets in India have been engaged in a tug of war for some time, with the country’s government now looking to build a pathway for legalised sports betting.
Fans in the region follow teams religiously, especially when it comes to the national sport of cricket, which subsequently heightens the already significant value of the market for operators.
Who is it?
Domenico Mazzola, Commercial Director of Altenar
William Howie, Head of Premium Cricket at Sportradar
Russell Yershon, Founder of Connecting Brands
Seemant Shankar, Co-Founder & Chief Product Officer of Sports Unity Private Limited
SBC Digital – India is a premier online event for igaming in India, delivering a fully virtual and interactive conference, exhibition and networking experience to delegates with an interest in the igaming industry.
What is being said?
Touching on the potential within the region, Shankar noted: “In India, cricket is a religion. If you’ve noticed, the following of the sport in terms of volumes – even if you look at this on a global level – is one of the largest. Having the second largest population in the world probably helps this.
“If you take a look at the cricket betting and gaming industry, up until now, it has been majorly in the black. It hasn’t been regulated, and has been deemed illegal and banned.
He added: “Over the last year because of COVID, gaming has become a major focus for the government. They do believe that there is massive revenues to be made. Regulation is needed purely because they want to protect its citizens from fraud or illegal gaming. As a nation, I feel that we’re moving in the right direction.”
Mazzola concurred: “We know from our study that the Indian underground sports betting market is a multi-billion dollar market. This means that there’s a substantial amount of people interacting with that market who are currently unprotected and are effectively betting at the hands of criminals who are running the industry.”
Why should I watch it?
To gain an insight into how India is adopting a new outlook on the sports betting industry and transforming its approach to legalised frameworks.
Where can I see more?
Source: SBC YouTube channel