The burgeoning landscape of online betting apps in India has sparked debates about their legality and the opportunities they present for gaming enthusiasts. Embark on a journey to explore the complexities of this industry, where excitement meets regulations.
In 2022, the Indian Supreme Court upheld the constitutionality of the Public Gambling Act of 1867. However, the act does not explicitly address online betting. Several states have taken the initiative to regulate this domain, including Sikkim and Nagaland.
State | Regulation |
---|---|
Sikkim | Sikkim Online Gaming (Regulation) Act, 2008 |
Nagaland | Nagaland Prohibition of Gambling and Promotion of Online Games of Skill Act, 2015 |
According to a report by KPMG, the online betting market in India is expected to reach a staggering USD 136 billion by 2025. This growth is attributed to the widespread adoption of smartphones, increased internet penetration, and a surge in gaming interest.
Key Market Metric | Value |
---|---|
Market Size | USD 3.6 billion (2021) |
Projected Growth Rate | 21.4% CAGR (2021-2025) |
Dream11: A pioneer in fantasy sports, Dream11 has garnered over 100 million users and raised USD 840 million in funding.
MPL (Mobile Premier League): MPL offers a diverse range of skill-based games and boasts over 80 million registered users.
Betfair: An international giant in online betting, Betfair has established a presence in India, offering sports betting and casino games.
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