Social betting to me means adding humanity back into the electronic process. Before computers, humans needed to speak to one another in order to trade (or bet). Even though betting online is more efficient monetarily by several orders of magnitude, intangible and tangible information is lost such as how many people are betting a certain way, what the weather looks like at the pitch, how easily the other person takes the bet. Whether you’re betting against a bookmaker, the market in a exchange or in a pool, you’re playing against other people. Adding “social” into betting re-introduces some of the human element involved with negotiating an electronic transaction.
CONNECTING CULTURE:
India has one of the growing markets for online casinos and sports betting. Each year, millions of Indians would place bets on sports and casinos.
There are a number of ways you can describe social betting, however it usually comes down to bettors being able to discover and share their bets to a range of people including their friends and wider social circle. No longer is it a solitary and individual experience.
Nowadays family, friends and coworkers want to know what bets you place on sporting events they actually watch. Bettors want to share their tips and challenge their friends, making the entire betting process more exciting and rewarding.
Social betting is incredibly popular and typically better suited to younger generations that have grown up using social media platforms.
A game of skill requires substantial skill and no element of chance. This includes casino and sports both which require various strategies to beat your opponent. Although there are many betting infrastructures in India, you should ensure that they have been licensed by the government. While the majority of states consider gambling illegal, there are a few exceptions.
The Indian law allows gambling in sports and horse racing. However, it does not prohibit common betting houses. For this reason, gambling in sports is legal in many states of the country. Even if gambling is illegal, it is still not illegal in India. In fact, some states have lenient gambling laws. Some of these states are home to sports events and a large number of gamblers. There are many other states that prohibit betting on sports.
As for the legality of online betting in India, the government has not specifically addressed the issue. Nevertheless, it is expected to legalize different forms of gambling in the future. While the Indian government has not yet officially enacted specific laws regarding online gambling, a substantial portion of the population in India enjoys placing bets on websites. In fact, gambling is not illegal in the country and is not discouraged.
FUTURE OF SOCIAL BETTING:
If all this talk of the future of the sports betting industry makes you want to be a part of what’s next, you can get in on the action now. As more and more of our lives are shared online it’s logical to think that sharing betting successes will become more common, offering a huge opportunity.
The online betting industry in India is witnessing a constant upsurge in demand.
The increasing popularity of this industry resembles the growing interest of Indians in online betting and shows how it’s becoming a less taboo subject. That’s primarily because of the availability of casinos and sportsbooks right at home comfort, thanks to the internet.
Without the huge shift from high streets to online, social betting would never have taken off. The facts speak for themselves in terms of the growth rates of it.
As the Public Gambling Act, the law responsible for governing gambling activities in India, doesn’t specify any rules and regulations associated with online gambling, there has been no fear of repercussions among the vast population of players online.
This takes you back to the fact that the online betting industry in India, as mentioned before, is a youth market, always prepared to handle new technological changes and advancements. That’s because the technology involved in this industry is subject to constant change to introduce better videos, graphics, themes, and music.
The immense strength of the country in its Tech sector has made them attract a lot of investments from abroad. Thus, it’s no surprise that with such statistics, the development of this industry in India will become far better over time.