As the old cliché goes, cricket is not a sport in India, it’s a religion. Right since its inception in 2008, the IPL has been a money-spinner not only for the cricketers, but also for the franchise owners, the cricket board, the sponsors, and everyone else associated in any way with the tournament. It is a two-month long extravaganza of fast cricket, adrenaline-filled encounters among players, cheerleaders, and jam-packed stadiums filled with a roaring audience looking for entertainment.
As the popularity of the league has soared, it has caught the attention of various online portals, which are now offering dedicated IPL betting sites for customers in India and around the world.
Is betting on IPL legal in India?
The first question that pops up in the mind of an individual looking to bet on IPL in India is `is it legal?´. And the answer to that is, yes, as of now it is completely legal to bet on IPL matches in India. There are no government laws that currently observe online betting as illegal, nor has anyone been convicted so far for online betting.
On the contrary, many offshore betting sites are allowed to take online bets in India, including Betway and Bet365.
Safer compared to traditional betting
Traditionally, betting was done in the arena where a game was being played, with bookmakers collecting cash from prospective bettors. As the interest in betting evolved, bookmakers started taking bets over the phone, so that bettors can bet even from homes, increasing the revenue for both.
With the advent of online betting, it is safer and easier for bettors to transfer money easily and quickly, via net banking or bank transfers via credit or debit cards.
However, it is always safer to bet on sites allowing transactions in Indian rupees, as in some cases, betting by converting money into foreign currency may be considered illegal.
How does online betting work?
The most simple form of betting is on the outcome of a match. This is the easiest way to bet, on who do you think will win the match. As the competition in betting sites increase, they are providing options to bet on live matches with various wagers like
· Toss winner
· Runs in the power play
· Number of runs in an over
· Runs scored by a batsmen
· Chances of a wicket in the next over
· Total scored in each innings
· Man of the match
Since these are dynamic bets, the odds of winning or losing can swing wildly during the course of the match, making it riskier.
There is also a daily fantasy gaming, in which you can make a team of your choice, including players from any or all franchises, and collect the maximum number of points at the end of the game or at the end of the tournament.
How to improve the odds of winning
Unlike gambling in a roulette wheel or Blackjack, which can be considered as a game of chance, online betting is a game of skill, in which a bettor can increase their chances of winning by honing their skills.
It is of paramount importance to have a burning passion for cricket, and `follow the game´, without which it is impossible to be up to date with the various developments in the sports and upcoming tournaments.
It is important that you bet only on the teams or players that you have studied about, rather than placing bets impulsively and on a hunch.
And most importantly, it is good to shop for odds that suit your speculation. Since all betting sites have different odds for the same event. You can follow multiple reputed sites and place bets accordingly.
In conclusion, betting is one of the few types of gambling, by which, if you have the right amount of skill and passion, you can make enough profits to live off them.