When it comes to online betting, punters mostly gravitate towards the UK, Germany or Sweden. These markets have had dealt with online gambling for decades and with recent regulations coming into place, have made the market safe for both the punters and bookmakers to operate in. While this is great news for established bookmakers that have the resources to deal with ever changing regulation, it is not so good for the small to mid-tier bookmakers. These bookmakers have had to abandon such lucrative markets in search for new ones to keep their business afloat.
India is turning out to be one such market where cricket betting sites are rushing to. Upon close inspection, it seems like a no brainer. India is home to more than a billion and while many are below the poverty line, those that are above it have enough disposable income to enjoy online betting. Furthermore, India is determined to increase connectivity within the country and also with the rest of the world and have made huge strides in providing internet to the masses. Now you are most likely to find an internet connection even in the most remote parts of India. The internet is only good if your customers have devices that they can use to connect to it.
Over time, the prices of smartphones have been falling due to greater choice that is available amongst the consumers. Specifically, phones manufactured by Chinese companies are significantly cheaper than those offered by Apple or Samsung. They provide enough power and features to allow punters to access the betting sites they can use to place bets on their favourite cricket matches.
The only downside to the entire business case for online betting in India is with regards to the legality of it. Gambling in India is still governed by the Public Gambling Act of 1867. As per this act, gambling in India is considered illegal and those involved in it are to be fined and thrown in jail. This outdated law unfortunately has given rise to several illegal outfits that are operating regardless of the guidelines set by the government. One such outfit that managed to make a good amount of money was the King Exchange.
King Exchange started off as a betting portal allowing customers to place on local cricket matches and tournaments. This then expanded to international matches and was even providing odds on the matches hosted during the Indian Premier League. With punters flocking to the site, King Exchange then added casino games to their library. Variations of popular games such as roulette, blackjack and poker were provided much to the satisfaction of their customers.
However, King Exchange were not operating as a licensed outfit. This meant that they could at any point in time shut down their operations and essentially run away with the money from the customers. Their plans became more nefarious as time went on and they were finally convicted of funding match fixing related activities as well. As it stands now, King Exchange are no longer operational which is great news for genuine players looking to enjoy a bit of online gambling.
This also means that it has given offshore bookmakers an opportunity to enter the Indian market. These bookmakers are licensed either by MGA, UKGC or Curacao. This means that they deploy the latest in SSL encryption technology to safeguard customer data. Customers creating accounts on this site do so with the peace of mind that their sensitive data will be kept safe and secure.
In the event that something does go wrong, these betting sites have fantastic customer support. Most can be contacted via live chat while some even give you the option of calling them. If the above methods fail, you can always send an email detailing your query and are most likely to get a response within 48 hours.
To conclude, we would urge you to stay away from banned and illegal outfits such as the King Exchange. Instead focus on cricket betting sites that are licensed, genuine and safe to play with. With increased competition, these sites will throw everything but the kitchen sink to get you to create an account with them so best to stick to a site that will treat your personal and financial data with the respect it deserves.