Sports Betting in India and South America: And Why India Has More Potential To Grow
23 November, 2020Sports betting is gaining momentum of unstoppable popularity in the world. Different countries and even continents are dependent on different opportunities and laws in this aspect. In addition, cultural characteristics and sports preferences, level of interest and which sports are most common play a large role. India and South America are the two poles of the world in terms of sports betting, with surprisingly many things in common and indistinguishable. In any case, people as sports betting fans and the market with different bookmaker platforms have a huge impact on the fact that someone is ahead and has more opportunities for the industry to grow, and someone must strive to bridge uncertainties and gaps in order to achieve proper progress.
Sports Betting in India
Sports betting has reached its peak in popularity in the world lately. India, as a fairly developed country, did not ignore these global trends. The situation is such that online betting in India has become an enjoyable pastime for many online amusement lovers with the opportunity to make a profit as a supplement to their entertainment. Many platforms, namely websites and applications, have targeted the growing number of Indian sports betting players. They understand that the Indian market is very attractive. At the same time, Indians are busy looking for the best sportsbook. This lesson is conducted on the basis of various parameters, such as attractive bonuses (especially welcome), promotions, the presence of many options and sections, payment speed, customer service level and other important indicators. This process can be a daunting task for aspiring bettors, but experienced people and experts in the field can help.
One of the best bookmakers in India according to professionals and clients is 4rabet site. This platform stands out among other online betting resources in India for its attention to clients who love sports betting and great offers in the form of megabonus options, promotions, affordable applications, simple design, convenient deposit and withdrawal methods, good football lines, cricket and others. sports such as horse racing and kabaddi.
Legality issues
Online betting is very often referred to as the gray area in India. This is obvious since the laws in force are governed by the Public Gambling Act of 1867. So it happened before the invention of the Internet and other technological innovations. It is noteworthy that in the last decade, some steps have been taken. The 2000 “Information Technology Act” requires Internet service providers and website hosts to block access to certain websites, including anything that encourages money laundering or gambling. The Payments and Settlements Act of 2017 in turn empowers RBI (Reserve Bank of India) to regulate all types of electronic payments, with the power to establish policies for everyone involved in payment processing.
But how do people make bets anyway and what are the consequences of these laws and regulations they face? First, the laws on online gambling are unstable. Therefore, sports betting fans are in an unequal playing field as laws vary from state to state. Some states, such as Goa and Sikkim, have amended state laws and issued licenses to operate sportsbooks. In return, most states allow horse betting on racetracks, but restrict other forms of betting besides regular casinos.
Due to the inherent deficiencies and discrepancies in the current legislation, Indian players can place bets on international betting portals and local sportsbooks without breaking the law. This inconsistency and misunderstanding has resulted in the Indian federal government losing taxes due to the huge sums of money that Indians gain by choosing foreign platform licenses from Curacao and Malta. The action of some states in the form of licensing local betting sites to receive income from betting softens the situation a little, but does not make it obviously understandable and beneficial for the whole country, where there are 29 separate states, 13 of which have legalized lotteries, 2 have legalized all forms of gambling and rates, and the rest are inactive.
As a result, there are no laws yet that would recognize online betting as illegal activity in India. Until significant developments and laws have been passed at the state level, Indian players continue to spend time on licensed betting sites such as 4rabet, Betway or 10Creek. 500 million people in India have access to the Internet and a huge part of these people enjoy spending time betting on sports.
Sports betting options
According to estimates and statistics, more than 500 million Indians have access to the Internet, more than 400 million Indians watch sports events throughout the country and most of them place bets on sports. Let’s take a look at what popular events are considered favorite for Indian sports betting fans:
Cricket and IPL betting
Cricket is the most loved and adored game in India. Cricket matches are garnering a record number of views, as well as the money wagered on these events. India’s national cricket team has been nicknamed “Men in the Blues”. The team has become the pride of India by analogy with the football team in Brazil. Most sportsbooks understand the passion of Indians for cricket betting, so they do their best to cover cricket competitions such as IPL, World Cup, ODI, T20 matches, Ashes and Test Matches. The statistics at this moment are eloquent. Today, about $ 50-60 million are wagered for every IPL match. With 95% of cricket bets being played live, live betting portals with high odds on offer get the most out of it. What is the secret of the IPL? Perhaps popularity and high interest play a decisive role. IPL is not only the largest cricket tournament in India, but also the most popular tournament in the world.
Football Betting
Football is the number one sport in the whole world. The popularity of football in India is also noteworthy. Indian sports betting fans primarily focus on national competitions such as the Indian Super League (ISL) and I-League. Among the rest of the competitions, the most attractive are the World Cup and European tournaments such as the English Premier League, Bundesliga, Serie A, La Liga, Champions League and Europa League. Indians’ growing passion for football has forced bookmakers to embrace lesser soccer events such as the South American Leagues, the China Super League, the Asian Champions League and the US MLS.
Horse Racing Betting
Horse racing bets are considered one of the oldest types of bets. Horse racing is the second most popular sport in India, second only to cricket. Plus, now you don’t need to visit racetracks to place bets. Indian fans can now bet on the races and watch live streams of these events. In this aspect, it is also important to place bets before and before the race on the winner, as well as on your favorite runners and racers.
Kabaddi Betting
Indians love this sport, although not all betting sites offer high odds or gimmicks on kabaddi. Bookmakers such as 4rabet still allow Indians to bet on a variety of competitions, with the most popular being the Vivo Pro Kabaddi League, Kabaddi World Cup and Super Kabaddi League. It is noteworthy that there has been an increase in popularity for kabaddi not only in India, but in other Asian countries such as Pakistan and Bangladesh.
Payment options
With regard to online betting in India, you need to pay attention to payment methods. Indian sportsbooks offer almost all common payments for deposits and quick withdrawals. Among the most popular options are VISA and MASTERCARD credit and debit cards, Neteller and Skrill e-wallets, bank transfers, Net banking and even cryptocurrency.
Sports Betting in South America
Sports betting in South America is distinguished by its diversity. This is not surprising, because different regions and countries have certain characteristics and preferences of their inhabitants in relation to different sports and moments of predicting results. Let’s define the most important aspects of sports betting and their development trends in South America.
Sports betting in Brazil
Brazil is a densely populated country with a huge population. There are many interests in people, but sports betting clearly stands out among the rest. They are very popular with the locals even considering the fact that the Brazilian government prohibits many forms of sports betting. An example is the 2015 online gambling bill that regulates and levies taxes on online betting platforms. Land-based bookmakers are generally illegal, which is why illegal sports betting markets thrive there.
Online sports betting in Brazil is like a gray zone. Brazilian sports betting legislation does not prohibit online gambling, so there are several legitimate sportsbooks on the market for safe betting. Players have little choice and therefore have to turn to international online bookmakers and other offshore platforms that offer real money gambling from Brazil, ensuring the safety and convenience of users.
Brazilians enjoy betting on soccer, basketball, horse racing, MMA and the UFC. Football, which can be called a national sport, stands out especially in this aspect. Everyone loves football, and the national team is praised and equated with heroes. Sports betting fans do not pass by the opportunity to bet on the Brazilian championships or the Copa Libertadores. In addition to the desired options in terms of choosing the best odds, Brazilians need to focus on the bookmaker’s reputation, bonuses and promotions, and convenient methods of deposits and withdrawals in Brazil. Players have access to such deposit and withdrawal methods as VISA and MASTERCARD credit and debit cards, Neteller e-wallets, Skrill, Skrill 1-Tap, Entropay, PaysafeCard, Astropay, Bank transfer and so on.
Sports betting in Argentina
Sports betting in Argentina has a tradition dating back to the 1800s. Argentines are at ease with gambling and betting opportunities that are common among the masses. Football betting, by analogy with Brazil, is leading in terms of audience attention and interest. This is not surprising, football fans are simply delighted with the game of their compatriot Lionel Messi. Other sports like tennis, boxing, basketball and volleyball are also popular betting options in Argentina. But it is worth pointing out that different sportsbooks offer their services in all provinces with different rules and betting aspects.
Online sports betting in Argentina is regulated at the provincial level. It is noteworthy that in some provinces betting is allowed, while in others there are still no laws on sports betting. Therefore, sports betting fans are in different conditions depending on where they live. Of the 24 provinces, fewer allow online sports betting. One of the latest provinces to issue an accurate gambling law is the Argentine capital, Buenos Aires. Thanks to these shifts, each platform receives a maximum of 7 licenses for a period of 15 years.
Payment solutions for players in Argentina are rich in a variety of options. Bookmakers often allow payments in Argentine pesos (ARS), but offer alternatives in the form of US dollars (USD) and euros (EUR). The most significant deposit and withdrawal options are credit and debit cards VISA, VISA electronic, MASTERCARD, MAESTRO and AMERICAN EXPRESS, digital wallets Paypal, Skrill, Neteller, Instant bank transfer, PaysafeCard, Astropay and even cryptocurrency solutions such as Bitcoin or Ethereum.
Sports betting in Colombia
In Colombia, gambling, including sports betting, has a huge history dating back to the middle of the 20th century. The official permit for gambling was put forward in 1943. After that, the legality of the betting case was approved in 1977-1978. Because of these important steps, Colombia is considered one of the most loyal countries in the sports betting permitting jurisdictions in South America.
Coljuegos is a Colombian agency that oversees and regulates all forms of gaming, including online sports betting. An important moment happened in 2016 when Colombia became the first South American country to legalize bookmakers and online gambling. Since then, betting has become a growing industry and reputable betting platforms have been officially licensed.
In addition, Coljuegos also legalized betting exchange and virtual sports betting in 2017.
Major moves by the government have encouraged Colombian players to bet on South American and European football, basketball, tennis, horse racing and dog racing, and many other sporting events. The deposit and withdrawal methods for Colombian players are at a decent level. Among the most famous options are VISA credit and debit cards, VISA electronic, MASTERCARD, MAESTRO and AMERICAN EXPRESS, Paypal, Skrill, Neteller, PaysafeCard, Entropay, Astropay, Bank Transfer and others. Colombian players usually use currencies such as US dollars and Colombian pesos.
Sports betting in Uruguay
Uruguay’s gambling market is well regulated and monitored, with the exception of online sports betting. In this aspect, Uruguayan sports betting fans are looking forward to laws that would ensure the legalization and licensing of all platforms and resources. At this moment, Uruguayan players can place bets at international bookmakers and receive winnings without taxes. In fact, the only form of legal sports betting is Supermatch (a type of parity mutual betting held by the State Monopoly) and the National Lottery (which can be played online). It is important to remember that all Uruguayan gamblers are not protected when betting online, with the exception of some specific options. The rules and laws are required by FENAJU and the Uruguayan sports betting fans themselves, but the standby mode is still ongoing.
Uruguay’s favorite sport to bet on is football. The popularity of football in Uruguay is incomparable and beyond doubt. Uruguayan players also like to bet on sports such as rugby, basketball, motorsport and golf. Payment methods for Uruguayan players are limited to wagering with the peso currency. Bookmakers with foreign licenses provide such methods of deposit and withdrawal of funds as VISA and MASTERCARD credit and debit cards, Skrill, Neteller, Astropay e-wallets, Bank transfer and others.
Sports betting in Chile
Sports betting in Chile has existed in the most incomprehensible and awkward style for a long time. For example, prior to 1990, only horse racing bets were allowed. The growth rate of the market and the interest of sports betting fans as one of the highest in South America forced the Chilean legislation to move towards the regulation of sports betting and online casinos. In this regard, Chilean laws are made so that 20% taxation is observed, which are paid by bookmakers. This is a guarantee that the platform must play by the rules or risk losing the license in the event of misconduct.
It is difficult to single out favorite sports in Chile on which to place bets due to the fact that Chileans are not picky about this issue. They equally love to bet on all sports, from South America’s most popular soccer to horse racing. There is no shortage of markets in which to place bets for Chileans, which they should be happy with. Payment options for Chilean players have been simplified as much as possible. Chileans can make deposits and withdrawals by methods such as VISA and Mastercard credit and debit cards, iDebit, Neteller and Skrill.
India vs. South America: Where does sports betting have more potential to grow?
The definitions of who has the greatest potential for growth in sports betting – India or South America – are not on the same plane. The framework is not limited by the same options, but still it is possible to highlight certain sections, according to judgments and observations of which one can draw certain conclusions. So let’s take a look at the points.
Legality issues. In this aspect, India and South America have similar problems and unresolved issues. Outdated laws, different rules for states and regions within one state equally negatively affect the development of sports betting as a separate industry. Only a few states in India and a couple of states in South America have decided to legalize gambling.
The presence of many large bookmakers. Markets are limited by the problems of the previous section, but still many international and even national sportsbooks are not afraid to give out competition and attract users with their offers. In this regard, the sports betting market in India has an advantage both in terms of the quantity and quality and reputation of the platforms presented.
Convenient options for depositing and withdrawing funds. The number of methods available is of a decent level for both sides. Still, credit cards, e-wallets and cryptocurrency opportunities are most convenient and diverse for Indian users.
Interest in sports betting. For India, the interest in betting on sports events can be called a national process. For many countries in South America, sports betting does not have enough impact on people. Views on certain sports are equivalent. For Indians, cricket betting options are the most important, while for South Americans, football betting is of value.
So it can be concluded that India has more potential and growth opportunities for the sports betting industry. But both India and South America must solve a bunch of issues in order to develop in this matter and benefit from having a full budget and satisfied citizens who can use their leisure time as freely as possible, enjoying bets on various sports events.
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