The internet is an integral part of our lives today, and one of the industries that have made the most of it is the online sports betting industry. While betters are there in every corner of the world, in some countries, online betting is legal and in some, it may not be, but the fanatics find a way around placing their bets on their favorite sports.
With the Tokyo Olympics underway, betting on the games has been open for the first time in America. Olympic sports have been made eligible for wagering for millions of American betting enthusiasts. It is an opportunity for American fans around the world to place their bets on the team or player in the Olympic Games in Tokyo.
On a survey conducted, it was found that a handsome 43% of people in the States would like to make bet with a sportsbook online. Perhaps 10 million people will put their bets with a legal sportsbook during the Olympics, and that too in modest amounts.
Olympic Sports Wagering
2018 was the year of the last Olympic Games, and it was then that sports betting was only legal in the state of Nevada. But with the Olympic Games now in Tokyo, sports betting has been legalized and lives in 21 states in america and Washington DC, giving access to the legal market for more than 100 million Americans.
While the regulations of wagering on Olympics will vary from one state to the other, betters will place their bets in all possible ways – with friends, wager online, bet at a physical sportsbook, and wager with bookies.
Favorite events bets expected to be placed more on are basketball, gymnastics, soccer, swimming, and the field tracks.
The entire betting industry has welcomed the move and is happy to have more profits out of it. In some states still, betting is allowed only in person in the casinos or stadiums, but with this move and more than quite a few states allowing betting, you can now download an app over your smartphone or visit any online sports betting website and place your bets.
Online Gambling in India
The future of online gambling in India looks bright and prosperous, but challenging. India has a huge population of over 1.35 billion people, and more than 560 million people actively use the internet. This makes India the second-largest online market country in the world.
Off lately India has seen a considerable rise in gambling and with the internet in place, people are more inclined towards online betting on sports and other things. But, despite the popularity of online gambling in India, all the 28 states of the country have separate gambling rules, where, some states allow it as a sport and pass-time activity, some have banned it stating it is illegal.
Let’s face the truth. The Indian economy has been hit drastically by the COVID-19 Pandemic. Immediately regulating the online gambling industry will certainly help the government the much-needed boost in the form of taxes. Considering this fact and all other positive facts of gambling, the future of the gambling industry look bright in the country.
