Indian Premier League (IPL) and other cricket tournaments have been rising in popularity worldwide and this is leading to an impressive growth in online cricket betting in India and other markets where cricket is popular. India's infatuation with cricket is unquestionable—and this passion is now converging with the booming world of digital betting. As one of the fastest-growing segments within the global gambling ecosystem, cricket betting is evolving into a multi-billion-dollar industry, fueled by technology, changing consumer behavior, and discussions around formal regulation. With nearly half of all global cricket betting volumes stemming from India, the nation stands at the crossroads of opportunity and risk.

Online Cricket Betting Revenue Expected to Surges Toward $36 Billion by 2032

The global cricket betting market is entering a transformational era, with projected growth from USD 14.5 billion in 2024 to an impressive USD 35.80 billion by 2032. This expansion, driven by a 10.9% CAGR, is being fueled by the popularity of cricket in South Asia, the UK, and Australia, along with increasing digital accessibility. The surge in mobile betting, in-play markets, and regulatory changes has elevated this once-niche sector into a dynamic, fast-evolving ecosystem. As legal frameworks tighten and technology becomes more integrated, stakeholders are navigating an exciting but complex terrain marked by opportunity, risk, and intense global competition.

Market Overview: A Decade of Momentum and Modernization

The cricket betting market has witnessed a sharp trajectory upward over the past decade. From an estimated valuation of USD 1.2 billion in 2021, it now stands at USD 14.45 billion, with strong momentum pushing it toward USD 35.8 billion by 2032. This exponential rise stems from the global cricketing calendar's increasing intensity and the proliferation of mobile-friendly online betting platforms. Fantasy cricket is another segment that has been picking up in India recently.

Regulatory support is playing a pivotal role, as governments across Asia-Pacific and Europe begin formalizing betting laws to enhance consumer protection and maximize tax revenue. The shift from unregulated, often illicit channels to licensed operators reflects a maturing industry.

Key Market Drivers: Technology, Tournaments, and Demographics

Cricket’s global popularity, especially in India, the UK, and Australia, makes it an ideal vehicle for sports betting. Mega events like the Indian Premier League (IPL), with over 400 million viewers, provide ripe opportunities for high betting volumes and operator engagement.

Smartphone penetration and 4G/5G internet connectivity have turned mobile betting into a mainstream activity. Platforms now offer live betting, predictive analytics, and seamless digital experiences, catering to both novice and seasoned bettors. In-play markets and AI-powered odds are creating a hyper-interactive space where real-time engagement is monetized.

Mobile-First Betting: The Fastest Growing Segment

Mobile betting is now the heartbeat of the cricket betting ecosystem.

Mobile applications are seeing a meteoric rise, especially in Asia-Pacific markets where mobile-first usage dominates. Betting platforms are optimizing UX for handheld devices, ensuring that everything from deposits to withdrawals is executed with minimal friction.

Geographic Insights: Asia Pacific Takes the Lead

India continues to dominate in both viewership and wager volumes, contributing significantly to Asia-Pacific’s supremacy. Meanwhile, regulated environments in the UK and Australia ensure healthy growth, while North America, especially Canada, is emerging as a new frontier.

Challenges: Regulatory Uncertainty and Stigma

Legal ambiguity continues to cloud the market’s expansion, particularly in India where sports betting exists in a gray legal zone. While there’s growing momentum toward regulation, until legislation is formalized, international players face significant barriers to entry.

Social stigma and addiction concerns also remain deterrents. Operators are under pressure to implement robust responsible gaming frameworks, or risk reputational and financial penalties.

Cybersecurity and fraud prevention are another concern. Platforms need to invest in blockchain and AI-based fraud detection to safeguard user data and maintain trust.

Opportunities: Technology, Untapped Markets, and Strategic Collaborations

The most promising opportunities lie at the intersection of technology and market access. AI and machine learning are being deployed to enhance odds-making, customize experiences, and optimize retention strategies.

Untapped cricket-loving regions such as Nepal, Afghanistan, and Bangladesh present compelling expansion opportunities.

Strategic partnerships between sportsbooks and cricket boards or broadcasters could serve as catalysts for market penetration and brand building.

Leading Operators in the Cricket Betting Ecosystem

India’s Cricket Betting Market: Rapid Expansion Amid Legal Grey Zones

The Indian cricket betting market is estimated to be worth over USD 150 billion annually, according to multiple independent research reports. However, a significant portion of this volume flows through unregulated or illegal channels due to the lack of formal legislation around sports betting.

While lotteries and horse racing are legal under specific state laws, betting on sports like cricket falls under a complex legal vacuum, making it subject to interpretation under the Public Gambling Act of 1867—a colonial-era law that predates modern digital infrastructure.

Why Online Sports Betting Is a Safer Alternative for Indians

With a growing number of users accessing betting markets via mobile phones, regulated online sports betting offers several safety and transparency advantages over illegal offline betting networks:

Regulated Online Betting Protects Users and Adds Revenue to the Economy

Unlike black-market operations, licensed online platforms contribute tax revenue, create jobs, and operate under consumer protection frameworks. Markets like the UK and Australia serve as successful examples of how structured regulation can curb illegal activity, promote responsible behavior, and prevent exploitation.

With increased demand, India is witnessing a policy push, with discussions around legalizing online betting gaining traction. States like Sikkim and Meghalaya have taken steps toward this, and there are growing calls for a central regulatory body to streamline and secure this burgeoning sector.

Technological Safeguards Make Online Betting User-Centric

Reputable platforms integrate responsible gambling features such as deposit limits, time-outs, self-exclusion tools, and behavioral analytics to flag compulsive patterns. AI and blockchain are increasingly being used to ensure secure, transparent, and fair betting ecosystems.

Moreover, user identification processes—like KYC, two-factor authentication, and geolocation—prevent underage or cross-jurisdictional betting and help enforce compliance.

Conclusion: The Case for a Regulated Online Betting Ecosystem in India

India’s massive cricket viewership base, combined with increasing digital penetration, makes the case for a regulated, transparent, and accountable betting framework stronger than ever. Moving away from illegal and opaque offline systems, and toward licensed online platforms, is not just a financial opportunity—it’s a necessity to protect consumers, encourage innovation, and modernize India’s relationship with sports entertainment.

A well-governed betting ecosystem can serve as a valuable economic contributor, a safe recreational space for adults, and a deterrent against the shadow economy that thrives in the current legal ambiguity.