Will there be legalised betting in India by 2025?

With an estimated population of more than 1.4 billion and a growing number of households having access to cheap and fast internet, it’s little surprise that offshore operators have been dipping their toe into the unregulated Indian sports betting market over the past few years.

Some of these are international brands that will currently be at the forefront should any regulatory framework be established in India. There are also sportsbooks which have successfully created products with a distinctly Indian feel.

While there’s a clear ambition on the part of operators to be well-placed when the dial moves regarding the legalisation of betting in India, it’s still not certain as to when that time will arrive, although the US and Canada have laid down a blueprint.

The US online sports betting market has changed irrevocably over the past two years and multiple states have granted licences to selected sportsbooks under varying legislation. Indeed, it’s conceivable that we might eventually see a similar kind of scenario when it comes to the 28 Indian states that make up this cricket-mad nation.

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But when exactly will that threshold moment occur? Certainly not in 2022, a year which ends with a bang in the sporting calendar thanks to India’s participation in the T20 World Cup and that is followed by the first winter FIFA World Cup.

The various Indian states are aware that legalisation would bring a multitude of benefits. Top of the list would be the substantial boost to the coffers thanks to the sort of taxation that is being leveraged by an increasing number of US states.

On the flip side, the second-most populated country in the world would have to tread carefully and ensure that responsible gambling was at the heart of any legislation passed at state level, with safeguards sure to be put in place as and when the time arrives.

Conservative estimates have recently suggested that the Indian online betting market is close to ₹6,000 crore and growing at more than 25% annually, although it’s hard to arrive at exact figures when it comes to an unregulated market.

It’s clear that the offshore operators that are accepting customers from India have made great strides in ensuring that a player can sign up and find a suitable payment option in order to fund their account. Bet365 reports that UPI, Indian Net Banking and AstroPay card are their most common payment methods in India, while Paytm also enables a growing number of customers to bet.

The bottom line is that there’s a distinct absence of legislation in place, with CricketBetIndia.com discovering that there are a growing number of operators which can structure their operations to avoid legal action being taken by the state of India.

Furthermore, there are bookmakers that are also aiming to boost credibility by entering into sponsorships or ambassador deals with cricket teams and players. Parimatch’s news arm recently became the title sponsor of Pro Kabaddi League franchise Tamil Thalaivas and there’s also an agreement in place with Chelsea Football Club.

Earlier this year, Parimatch International chief executive Anton Rublevskyy told the Economic Times that he foresees a time in the not-too-distant future where India follows the lead of the US and we see a number of states put a regulatory framework in place.

He said: “We foresee state-by-state legalisation in the next three-to-five years, the same way the US market has been doing it.

“India is a highly populated country hence introducing and imposing certain rules sometimes gets a bit difficult keeping different sentiments in mind but, in the long run, if betting is legalised in a proper way in India, it can become a great revenue source for the country.”

Simons Collins is the founder of Gaming Realms, Cashcade and is the executive chair at Backstageplay.