The value of the worldwide sportsbook market, which was over USD 57.54 billion in 2021, is expected to rise at a CAGR of almost 10% between 2020 and 2025.
In 2021, sportsbooks generated a combined USD 57.22 billion in handling and USD 4.29 billion in revenue, increasing by 165% and 177% over the previous year, respectively. The sector in India is currently valued at USD 2 billion and is predicted to expand by 20% annually. According to estimates and reports from these gaming sites, more than 140 million Indians typically play these online games, with that figure rising to 370 million during the IPL and other major events.
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The whole online sportsbook market in India is expanding quickly, at a rate of 20% per year, with cricket seeing the most of this increase. Over the next five to ten years, the market for cricket books will continue to expand quickly. One of the major international contributors to this sector is India. Numerous Indians used their mobile devices to pass the time during the Covid-19 outbreak, and statistics indicate that 40% of those with internet access have visited an online sportsbook site at least once.
Owing to the current increase in the demand for gaming and the share trading industry, TigerExch is shattering the glass ceiling by introducing responsible gaming methods to its customers. This platform is assisting the numerous players in the market who are creating a way for themselves to carve out their space. TigerExchange offers players over 300 games and 24/7 payouts with fantastic deals and odds, rewards, cash prizes, and bonuses while constantly updating legislation and reconstructing the sector to modern standards.
A fact which is unknown is that the fantasy sports and gaming industries are supported by Indian legislation. Running or overseeing a public gaming establishment is prohibited by the Public Gambling Act of 1867. However, the term ‘games of chance’ is used to describe the games covered under this statute. Even games like rummy or poker require skill and knowledge, according to the Supreme Court of India, and are not regarded as games of chance. The same holds for online football or cricket. As a result of all this, organisations like TigerExch encourage people to play sports online, win prizes based on their luck, or wager on games using their knowledge and talent. In the upcoming future, it is anticipated that the gaming and sports trading industry will only go upward and portals like TigerExchange will surely be playing an integral role in that.
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