The Mind Of The Indian Bettor — How India Bets Online
Since fantasy sports are deemed as a game of skill and not a game of chance, Indian courts have ruled in favour of online fantasy platforms, paving way for country-wide acceptance and popularity.
Much has been said about the size of India’s betting market - be it online or underground. It is in order of billions, to say the least, with punters finding ways to satiate their betting appetites - whether it is ‘directly’ on sports or through fantasy gaming. But what hasn’t been touched upon much is the psychology of these Indian bettors - how do they approach the whole sphere of online gambling? What do they like and dislike? In this article, we attempt to shed some light on the topic.
One Thing is Certain - India Loves to Gamble
Going to a YouGov Research on Global Gambling Attitudes, a study found that up 25 per cent of adults in India agree with the statement ‘I really enjoy betting.’ This is interesting, considering that India is still somewhat of an emerging and grey market owing to the ambiguity around the legal status of online sports betting and online gambling. But the fact that the proportion is still higher than the regulated, developed markets in countries like the Netherlands, Germany, Australia, and France is worth noting.
Within this, another subset emerges - among the Indian adults who enjoy betting, 29 per cent of them are intrigued by the idea of making money through fantasy sports.
If we think about it, it does not come as a huge surprise. The fantasy sports segment in India has grown exponentially over the last several years, with platforms like Dream11 and others slightly displacing the traditional betting patterns. Another thing that has helped them a great deal is their legal acceptance by the Indian judiciary system.
Since fantasy sports are deemed as a game of skill and not a game of chance, Indian courts have ruled in favour of online fantasy sports platforms, thus paving the way for country-wide acceptance and popularity.
That said, the fact remains that regular sports betting is still largely prevalent in India. Punters can go on any Indian betting site, place their wagers on sporting events of their choice, and make profits. To put things into perspective, the gambling revenue in India is upwards of $130 billion, as of 2018. By contrast, Dream11 - India’s largest and most prominent fantasy sports platform - made close to $260 million (Rs.2,075 crore) in FY 2020.
The Core Reasoning Behind Gambling
It would be an understatement to say that online betting in India is shaped mainly by a cultural perception. More often than not, the negative connotations associated with sports betting give it a bad rap. Some of them include:
- Unregulated money flows
- Loss of tax income for the government
- Corruption in sports
- Financial implications for the bettors
- Gambling addiction and consequent psychological repercussions
However, what drives people to bet in India is to get more out of the sports. A majority of sports enthusiasts believe that getting closer to an immersive, all-around media and sports experience is the essence of real-money gaming. In other words, those who follow sports want to get more of it, and if it makes them money in the process, that is an acceptable outcome. Hence, some take the way of fantasy sports while others adhere to traditional betting.
Whatever may be the case, people want to use their knowledge of sports and their analytical skills to make money on it, despite the fact that Indian laws heavily distinguish the two as a game of skill and a game of chance.
But there are a few other reasons why Indian bettors love to gamble. Of course, the thrill factor or risk-taking is at the top of the list - the adrenaline rush you get when placing a wager, which may sometimes also lead to greater risks, higher bets, and possibly higher losses.
Then, you also have the element of escaping the monotonous routine of daily life and connecting with peers. In this case, betting is sought as an escape mechanism for bettors to deal with emotional issues, loneliness, or boredom by joining a new reality and enjoying it with friends.
As pointed out in ENV Media’s Market Paper on Sports Betting,
“It has been found in psychological studies, however, that it offers an easy way out to cope with stress and other emotional issues. The temporary escape of being slightly anxious about a sports game outcome (even if tied to a certain sum of money) is a sought alternative to worrying about daily demands on a personal, professional, or another level.”
Another aspect that appeals to Indian bettors is the glamorous lifestyle associated with big monies. It seems like an easy, quicker route to becoming rich overnight and the same has also been elucidated often in film and mass media culture - the Dream11 ads in this regard take the cake. People consume these advertisements day in and out (thanks to lucrative sponsorship and ad deals) and sooner or later, are likely to give it a try.
Parting Thoughts
The emerging betting market of India holds a lot of promise from a business point of view, but also offers an exciting insight into how the market functions. While people love to bet online, there is a growing userbase of those who prefer fantasy platforms over the traditional betting avenues. Nonetheless, the psyche behind them is quite similar - varying from the thrill of it to leveraging sports knowledge to make money or finding emotional reprieve in the space. But the lack of regulation at the moment still means many are open to the pitfalls of gambling addiction - regulating this market will undoubtedly go a long way in protecting the interests of the users.
DISCLAIMER: “This advertisement is an advertorial and a paid feature and the views expressed are that of the Author. ABP and/or the channel neither endorse any gambling activity nor in any manner whatsoever glorifies or supports gambling and is not responsible and/or liable in any manner whatsoever to all that is endorsed/opined/stated in the sponsored Article and/or also with regard to the views, opinions etc., stated/featured in the same. It is solely the responsibility of the reader(s) to verify and confirm anything stated/featured before attaching any credibility to it. Gaming/gambling activities are highly addictive and are also illegal in many states/jurisdictions of our country. The readers are strictly advised to be extremely cautious, careful, updated and to be well advised on all Gaming Laws and also not to engage in any illegal gambling/gaming activity. Accordingly, reader(s) discretion and thorough due diligence is advised. The said advertorial feature does not in any manner whatsoever lead the reader to engage in any gambling or any unlawful gaming activity and ABP shall not be in any manner responsible for any losses incurred or for any other consequences that the reader may suffer by placing credence and reliance on the contents of this Article.”
Top Headlines
Trending News
