Over the past few years, Bangladesh has emerged as a booming market for online sports betting websites. This rise in popularity comes as no surprise to experts. The ever-existing craze of sports like cricket and football in Bangladesh and the advancement of technology in the region are prime reasons for this exponential growth.
In this article, we aim to trace the historical significance of gambling in Bangladesh, examine the reasons behind its growing popularity, and identify key trends in the Bangladeshi betting industry. Finally, we will look at the future of this burgeoning industry in the subcontinent.
Laws Around Gambling in Bangladesh
The Public Gambling Act of 1867 prohibits all forms of gambling in Bangladesh except horse racing. First drafted by the British during the colonial era, this is the single legal document on gambling in Bangladesh. It was formed to regulate all forms of gambling and had provisions for punishing offenders.
Only state-regulated horse racing is legal in the country and falls under the Bangladesh Race Control Authority (BRCA). This organisation oversees horse race betting and related activities like licensing, registration, and organising and promoting derbies.
Online Sports Betting – The Grey Area
The Public Gambling Act of 1867 has been amended several times, but surprisingly, despite 50 years of independence, Bangladesh still adheres to such colonial-era legislation. The act does not address online gambling and regulations required in the digital age.
Modern online gambling is pretty complex and needs a robust legal framework. It does not need to be curbed entirely, as most people access it for entertainment. However, a nuanced approach similar to horse racing will go a long way in regulating it. The legal framework can help control and regulate this largely unregulated market. It can even become a potential revenue-producing sector for the government.
The Impact of Technology
While discussing the recent popularity of online sports gambling in Bangladesh, you cannot neglect the role of advanced technology. Bangladesh has recently undergone a technological revolution, with ubiquitous computers and smartphones. This, coupled with the availability of cheap internet, has laid the foundation for online gambling in Bangladesh.
The young generation, die-hard sports fanatics, yearns to do more than merely watch cricket and football matches. With online bookmakers, they can get into the action, predict score lines, and place bets in real-time.
Popular Sports for Betting in Bangladesh
Now, look at some of Bangladesh’s most popular categories among bettors.
Cricket Betting: The South Asian subcontinent is cricket-crazy, and Bangladesh is no different. Bangladeshi punters can log on to online bookmakers and get access to betting on popular cricket matches and tournaments from across the globe.
Bettors enjoy matches and tournaments involving the Bangladesh cricket team and international tournaments. Domestic T20 leagues like the Bangladesh Cricket League or the Indian Premier League are also in high demand.
Cricket betting sites like Banglabet88 provide fans with hundreds of betting markets and additional features like attractive promotions, live streaming services, and fast payouts for seamless betting.
Football Betting: Although football is not as popular as cricket, it still holds a special place in the hearts of Bangladeshi sports fans. Online bookmakers allow players to follow and bet on international tournaments like the FIFA World Cup, UEFA Euro, and Copa America, to name a few.
Bangladesh is one of the top followers of European football clubs in Asia. Bangladeshi punters enjoy football betting on popular football tournaments such as the English Premier League, La Liga, and the Champions League. These bookmakers offer pre-match and in-play betting on the website and mobile with features like live notifications, highlights, and statistics.
Other Sports Betting: Apart from cricket and football betting, Bangladeshi punters also enjoy staking on different sports like kabaddi, hockey, motorsports, tennis, etc. Recently, esports betting has taken off in Bangladesh, where enthusiasts can watch and predict competitive online games like Dota 2, League of Legends, CS: GO, and Valorant.
Latest Trends in Online Sports Betting in Bangladesh
Let us look at recent trends related to online sports betting in Bangladesh.
Mobile Betting Apps
Smartphone penetration in Bangladesh is increasing. According to a study conducted in 2022 by BankMyCell, there were 53.3 million smartphone users in Bangladesh by December 31, 2022, which was 32.36% of the total population. This number is only projected to rise in the future.
There has been a drastic surge in mobile betting combined with low-cost data. Based on this phenomenon, online bookmakers are developing mobile-compatible betting apps that cater to this growing demand. These apps provide a similar experience to desktop sites with the same level of functionality and accessibility.
Live Streaming with In-Play betting
Bangladeshi punters engage in in-play betting, where they can place bets while the match continues live. Bookmakers also provide live-streaming features that help them place bets in real-time.
Crypto Betting
Cryptocurrency is digital money that has become popular in online betting websites. Bangladeshi gamblers prefer betting with crypto tokens like Bitcoin, Ethereum, and Tether since they offer anonymity compared to traditional payment methods.
Crypto transactions are generally faster than conventional bank transfers and charge no additional fees. Lastly, cryptocurrencies are acceptable worldwide, making it easier for bettors to play on betting sites and transact for other purposes.
Betting Automation
Automating bets uses technology to place bets automatically, often based on algorithms and data analysis. This trend is gaining traction in Bangladesh, particularly among experienced bettors. AI bots are used to make bets at specific intervals. More advanced systems can analyse sports data in real-time, identify patterns, and make bets at the right time for the highest returns.
How to Bet at Online Sports Betting Sites?
Want to get started with online betting in Bangladesh? Follow these steps:
- Choose a betting site: Pick a Bangladeshi sports betting site like Banglabet88.
- Create an Account: From the homepage, click on the sign-up option.
- Enter Details: You must now enter your details, such as your username, password, mobile number, and verification code, and click on submit.
- Make a Deposit: Choose a suitable deposit method and fund your betting account with the minimum required amount.
- Place Your Bet: Now that you have funded your account, head to the sports betting section. Select your preferred sport and check betting markets, odds, formats, and minimum stake requirements before placing your bets.
Conclusion
The betting culture in Bangladesh is flourishing. With new bookmakers employing advanced features and fast-paced technological advancements in software, graphics and AI, the future of gambling is expected to have unimaginable growth.
