There is simply no denying it, smartphones and tablets have become crucial to how many of us get by on a day-to-day basis. When it comes to online banking, arranging our calendars, or even scheduling posts on social media platforms, handheld devices and the apps on them are often our first port of call.
Their importance was highlighted by recent figures released by Sensor Tower, which revealed that worldwide consumer spending on mobile apps hit $29.3 billion in the third quarter of 2020. In addition, installs across both the App Store and Google Play reached 36.5 billion during the same period.
A Sector Transformed
Many different sectors have been affected by the rise of apps and web-based services, but few have been transformed quite like the world of online gambling.
Earlier this year, a study by Grand View Research examined the state of play in the global online gambling market, which is made up of areas including sports betting, casinos, poker, and online bingo games. It found that the size of the industry was valued at around $53.7 billion in 2019. The report highlighted that high internet penetration and mobile phone usage was driving the market, while the future is looking bright for the area too.
It suggested that revenues in the sector could reach a massive $127.3 billion by 2027, with the rising availability of mobile apps across the world being cited as something that could have an impact on market growth.
Interest And Passion
While many countries may have a role to play in such developments, one which is attracting plenty of attention, is India.
According to the Asiabet betting blog, the country’s interest and passion for sports betting are particularly strong. The site estimates that bets worth around $200 million are placed by Indians each time the nation’s cricket team has a one-day international, while it also highlights several examples of brands that offer services via mobile apps.
In terms of the rules and regulations around gambling in the country, the site goes on to explain that laws can differ from region to region. Several areas have powers to make both betting and casino gaming legal, with some choosing to take the step. For instance, Sikkim has gone on to embrace the pastime by having licensed and regulated sports betting services. Furthermore, Asiabet adds that the Law Commission of India has also recommended the regulation of gambling and sports betting in recent years.
But, what could be behind the rising interest in sports betting seen in India? The nation’s deep love of sport may well be a crucial factor and we have already touched upon the level of activity that has been seen in relation to cricket. However, there are more than just international matches attracting attention, as the Indian Premier League is also developing a significant profile in the world of sport.
This was highlighted by viewing figures released in relation to the latest edition of the competition. In November, SportsProMedia reported on data from the Broadcast Audience Research Council, which found that the number of people watching IPL 2020 was up 24 percent when compared to the previous year. The research revealed that 383 billion minutes had been watched, while a record 200 million viewers took in the tournament’s opening match.
The competition is packed with big-name stars from across the world of cricket and the ups and downs of the tournament make for compelling viewing. If reports are to be believed, there may also soon be even more matches to take in. Sites including Sky Sports recently revealed that the Board of Control for Cricket in India has approved plans which will see the eight-team event expanded to include two more sides from 2022. Of course, massive events have a major impact on online gambling mobile apps your play.
Considering the size, scope, and level of interest in competitions like the IPL, it is perhaps not all that surprising that sports betting services and apps have seemingly become so popular in India. With esports taking over the world, its likely they may have an impact on the world of gambling in years to come as well.
Of course, online gambling trends are routinely change the future of mobile gaming apps. Online gambling in its many forms appears to be on the rise all over the world and it will be fascinating to see how interest in the area develops in India and many other countries across the years ahead.