Sport can be a shining light even in the darkest of times. The Covid-19 pandemic has cast a pall of gloom world over even while people are making determined efforts to beat the virus.
Resumption of football sporting events has been a welcome sight in times of the Covid-19 disruptions. Football indeed gave Europe a much needed escape from the boredom caused by the pandemic. Cricket for India is undoubtedly the greatest of the sporting extravaganza.
Now that England’s wonderful yet strange summer of cricket comes to a close, it is the turn of India and the Indian Premier League’s turn to make a sporting spectacle like none other.
The IPL 2020 is not going to be anything like the previous seasons. It will be much different. The IPL is not only the sporting event for the budding talents to sparkle on the big stage accompanied with cricketing drama, but also a catapulting opportunity for India’s online betting and real money gaming industry - which has already been on an unprecedented rise during the lockdown.
While betting in India is unlawful, there is no law to prohibit “online” betting, a major factor behind the industry’s current worth, estimated to be well over $30 billion. And it is expected to continue to further fatten, given that a large number of people are invested in sports in India, besides those who are investing in this market.
Japneet Singh Sethi, an industry veteran and a renowned marketer who has nearly a decade of experience, firmly believes that the online betting industry, once regulated in the country, can have a substantial impact on the Indian economy.
“We are already witnessing a digital revolution in India. With more than half the population now having access to the internet, thanks largely to the efforts of the Indian government, online gaming is penetrating minds, and reaching the households like never before,” said Sethi.
Sethi is convinced that a regulated market will help boost employment in the country. “This is not just an industry that simply helps people earn money. It will generate employment, and become an additional revenue stream for the government and the people to help the economy to soar further. The potential is just unparalleled,” noted Sethi.
Sethi hopes that the incumbent government and the leadership are well capable of taking bold decisions. “The current regime has proven time and again that it is not afraid to partake in a revolutionary course of action. Regulation of the online betting industry would just be revolutionary and path-breaking. I am sure that sooner rather than later the government will tap into this market and utilise it to the full,” Sethi exuded confidence.
Sethi is himself currently a part of this revolution, having teamed up with “Parimatch International” as their “Marketing Lead”, helping them in the International markets. He will also be in the vanguard of their upcoming project in India: Parimatch News.
Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.