Reasons Why Should Invest in Cricket Betting App Development in 2024
What to expect in 2024? Year 2023 ended with the Cricket World Cup(CWC) celebration for cricket lovers and a setback for Indian fans. Cricket has become a major sports industry, generating billions of dollars annually. It offers opportunities to players, sponsors, broadcasters, and the most important cricket betting sector, among others. Moreover, The Indian Premier League (IPL) season has become the world’s most watched and lucrative cricket league. It has played a significant role in cricket industry growth, with its franchise-based model attracting top players from around the world. The 5G internet and cheap smartphones have led to a significant surge in online fantasy cricket betting app development.
Just looking at the popularity of cricket and making millions of faithful fans around the globe shows the great potential in cricket betting app development of your own. If you are thinking of getting into the cricket betting industry then invest in cricket betting software development now. Read on to know about All the reasons to invest in cricket betting app development in 2024.
Industry Potential of Cricket Betting Apps/software
The online betting industry in India is on the rise at a high rate of 20% annually. With more and more people participating in cricket betting every day, the Indian online cricket betting business is estimated to be worth billions of dollars. Cricket fans now have appealing opportunities in online cricket betting because it’s convenient and easy to use. They can wager on their favorite players and make teams at any time and can win the biggest prizes in lakhs and crores(INR).
Look at the potential of the cricket betting industry and you will be shocked and convinced to invest in cricket betting app development.
- According to MyBetting’s online betting statistics, More than 140 million people in India bet on fantasy cricket on a regular basis. IPL alone has not only boosted the popularity of cricket but has also created new opportunities for the cricket betting industry with more than 370 million participants worldwide.
- According to cricket world article, The future of cricket betting in India is a subject that has captured global attention, especially as the online gambling market is projected to grow by 8.59% annually between 2023 and 2027. Multiple cricket events and leagues with frequent matches are going to increase in 2024 and upcoming years.
As cricket is an evergreen sport, thereby, it is a highly profitable business. Accomplish your sports betting app development project into reality with the aid of Vigorous IT Solutions, industry-leading cricket betting software development company.
What is a Cricket Betting App?
Cricket betting App is interactive and engaging platforms that bring the excitement of cricket into the digital world through fantasy cricket league. Here Fans can select a team of their favorite players in these leagues, and teams can compete against one another based on actual performance. These apps enhance the whole cricket betting experience by offering a user-friendly interface, real-time updates, and secure payment methods. In the ever-evolving landscape of online entertainment, fantasy cricket betting software have emerged as a game-changer, promising an immersive and interactive experience for cricket enthusiasts.
Look at the Major Cricket Events and Leagues in 2024
Great to know that Year 2024 will be a year as fulfilling as 2023, with three World Cups – Under-19 as well as the Women’s and the Men’s T20 – and two five-match Test series, not to forget the most entertaining and awaited event Indian premier league(IPL) and other leagues. With such a packed events schedule, you can estimate the courage of cricket fan following and revenue in the cricket betting industry. This is the high time for a cricket betting app development app of your own and get into the betting business. You just have to approach the best cricket betting app development company and be competitive in price. For all types of cricket betting software development, Vigorous IT Solutions is the best choice among all.
| ICC Cricket Event | Location and Date |
| ICC Under-Nineteen World Cup 2024 | January 19 – February 11, 2024, Willowmoore Park, Benoni |
| ICC T20 World Cup 2024 in West Indies & USA | June 4 – June 30, 2024, Bridgetown, Barbados |
| ICC Women’s T20 World Cup 2024 | September-October 2024 |
| Other Cricket Event | Date | Location |
| India vs Afghanistan T20Is | January | India |
| India vs England Test Series | March onwards | India |
| Women’s Premier League (WPL) | February | states of India |
| Indian Premier League (IPL) | Schedule not available yet | Various venues in India |
| India Women vs Australia ODIs & T20Is | Dates not specified, spills into 2024 | India |
| India Men’s Tour to Sri Lanka | July | Sri Lanka |
| Australia Women’s Tour to India | July | India |
| India vs Bangladesh Men’s Tests & T20Is | September | India |
| New Zealand Men’s Tour to India | October | India |
| India Women’s T20 World Cup | October | Bangladesh |
| India’s Tour to Australia | November-December 2024 | Australia |
Reasons to Invest in Cricket Betting App Development in 2024
You have just gone through the long list of cricket matches which is going to commence in 2024. Cricket matches are not only watched in India but are equally watched in other countries also i.e. England, Canada, Australia, Bangladesh, the West Indies, the Srilanka, and so forth. As we step into 2024, the demand for fantasy sports applications, especially in cricket, is reaching unprecedented heights. The following are some of the most prominent reasons which might inspire you to invest in cricket betting app development.
Legalization of Online Cricket Betting
Due to people’s awareness, just a handful are willing to engage in illegal betting activity. For a long time, sports betting, including cricket, was made illegal in most regions of India. As a result, only a few people have participated in the movement for fear of facing legal repercussions.
However, that’s not the case. Yes, you have heard it right, fantasy cricket betting apps are completely legal and secure. The rising popularity of cricket betting software development has led many countries to legalize cricket betting software, and India is not an exception. Cricket betting has also been legalized in all states of India except Sikkim and Goa. Such evolution has shaped India’s cricket betting landscape for the better.
Secure Payment Gateways and Transparent Regulations
Aside from legalization, cricket betting in India is subject to a variety of rules. Because of its existence, people are willing to gamble without worrying about losing their hard-earned money. The encouraging cricket betting environment has caused the field to evolve quickly. From safe payment gateways to transparent laws, these reasons are attracting more fans to cricket betting in India.
Rise of Cricket Popularity
Cricket and India have an unbreakable bond because the game is popular among a large population. Many people participate in cricket activities, such as playing, watching, and betting. Again, this contributes to the fast evolution of the nation’s cricket betting industry.
Use of Smart Phones
As technology evolves, many sectors, including cricket betting, adopt it. That is why there are numerous cricket betting apps readily available. With India’s large number of mobile users, the cricket betting market has grown swiftly.
Cricket betting apps make it easier to wager because viewers already own and are comfortable with smartphones. Bets can be placed effortlessly from the palm of the palm of your hand. Therefore, cricket mobile betting is increasing and you can invest in your cricket betting software development.
5G Internet and Fast Connection
One needs the internet to interact with the various cricket betting platforms, including websites and mobile applications. Fortunately, internet coverage is rather widespread in India. Furthermore, the connection is solid which allows more people to wager on different cricket events. The cricket betting market is huge since almost everyone can access stable internet in India. So, there is big scope for cricket betting apps to target Indian fans for the same reason.
Big Revenue Opportunities
Fantasy cricket betting apps present various revenue opportunities, including in-app purchases, premium memberships, and sponsored content. As the user base grows, so does the potential for revenue generation. Smartly implemented monetization strategies can turn the app into a profitable venture.
Global Expansion Opportunities
Cricket betting apps have the potential to transcend geographical boundaries. With a well-developed and scalable platform, your businesses can explore global expansion opportunities, reaching cricket enthusiasts beyond national borders and diversifying their user base.
Read Also: Top Cricket Betting App Development Company in India
To Sum Up
Given how rewarding cricket betting is, there is a high chance that its future is bright. The high demand for cricket betting means the activity isn’t ending soon. There are millions of cricket fans. The landscape of cricket betting is changing for the better. It has been doing well and will most likely improve. All the factors contributing to investment in cricket betting app development include popularity, accessibility, A stable internet connection, wide internet coverage, and friendly regulations exist. Emerging trends are also brightening the cricket betting sector’s future. As the attraction for immersive and engaging gaming experiences grows, making investments in fantasy cricket betting app development offers an intelligent move towards a future of growth and development. When you will Partner with experienced fantasy cricket app development company and skilled developers. Then you can surely unlock the full potential of this dynamic betting market. If you have an idea for the best cricket betting app development, then contact the experienced team of Vigorous IT Solutions to transform your dream app into reality.
