Gambling is changing along with the advancement of technology. With the advent of smart mobile devices and the internet, people can easily access the betting world. According to the report, the Bangladeshi gambling market is expected to grow by 4.7% in the upcoming years (2020-2026). Internationally popular online platforms are successfully operating in this country. For a better understanding, let’s try to discuss more the growth of the gambling cricket market in Bangladesh.
Current Situation Of The Bangladeshi Gambling Market
According to the Public Gambling Act of 1867, gambling is illegal in Bangladesh. But the fact is that there is no strict rule about online betting. The National Lotteries and Gambling Board of Bangladesh issued licenses to three companies to operate gambling businesses in 2012. Dhaka Gambling City, Capital Club Ltd., and CineStar Limited are licensed entities. There is indeed a framework for online gambling, but the legality of online gambling is still unclear. Due to this, the Bangladesh gambling market has grown significantly over the past few years.
There are more than 100 online gambling companies currently operating in the country. But the most important fact is that the authorities are thinking of legalizing the casinos in the southeast and southeast parts of the country to attract more international tourism. The establishment of casinos in tourist places like Cox’s Bazaar is under consideration. The former Civil Aviation and Tourism Secretary Mohibul Haque said “I believe if we create an exclusive zone for the foreign tourists, we can provide similar facilities available in other Muslim countries.” Establishing legal casinos in any part of the country can be a game changer. Bangladesh has no recreation centers for tourist attractions, so the government is losing potential tourists. The legalization of casinos in some of the popular tourist spots is just a matter of time.
Online Gambling Market In Bangladesh
Even though physical casinos are not legal in Bangladesh, the online casino landscape has grown significantly. While legal restrictions persist, there has been an observable rise in informal and online gambling activities. Among the most popular types of betting are sports betting, live dealer games, table games, and slots.
Approximately 8.5 billion taka are bet through sports betting each year. Most popular sports bets in Bangladesh are cricket, football, horse racing, and basketball. Besides, people love to play popular games like roulette, teen patti, blackjack, and poker. Most online casino platforms accept local payment systems like Bkash, Nagad, and Rocket, facilitating seamless financial transactions. Due to this, anyone can create an account and place bets. Players have much control over their finances within the casino environment, contributing to its overall appeal and success.
Reasons Behind The Growth Of Online Gambling In Bangladesh
Millions of people in the country are interested in placing bets online, which is growing rapidly. A number of factors influence this shift:
The Digital Shift
With the advent of the digital age, Bangladeshis’ entertainment preferences have changed dramatically. Technological Accessibility: Smartphones and high-speed internet have made online gambling easily accessible to a broader audience, transcending geographical limitations. As of August 2023, Bangladesh has 188.64 million mobile subscribers, indicating a substantial developer market.
Convenience & Flexibility
Growing numbers of people are turning to online gambling for its comfort and accessibility. It is possible to play betting games anywhere and at any time. It eliminates the need for physical visits to brick-and-mortar establishments and fits seamlessly into the fast-paced lifestyles of many Bangladeshis. Even the video gaming market is boosting. By 2028, Bangladesh is expected to have 28.5 million video game users. So, the digital shift is influencing more people to participate in betting.
Diverse Gaming Options
From virtual casinos and live dealer experiences to sports betting, online gambling sites offer diverse gaming options. As a result, players can bet on according to their preferences and win. In addition to that, players can also bet on live games and feel the real excitement.
High Odds & Bonuses
Online platforms lure players with enticing offers such as high odds and generous bonuses, creating a magnetic appeal that attracts more participants. The promise of substantial odds implies that players have the potential to multiply their winnings significantly, often reaching up to 100 times the initial amount.
The recent global pandemic, including the COVID-19 outbreak, has had a profound impact on various aspects of society, including the gambling industry. While the pandemic brought about numerous challenges, it also led to shifts in consumer behavior, with increased interest and engagement in online activities. In Bangladesh, as in many other countries, the online gambling sector experienced a boost during this period.
Most BD online betting platforms provide mobile apps for smoother betting experiences. As we mentioned before, these sites also offer players the option to use the local payment systems along with international payment gateways. As a result, players can enjoy a personalized gaming experience without any hassle.
Gambling Sites In Bangladesh
According to recent report, a total of 1.2 billion Bangladeshi Taka (14 million USD) were transacted in sixty casinos recently. The potential for growth is substantial, and the increasing recognition from both local and international casino sites. It is hard to determine the exact number of casinos that are operating in the country. We have compiled a short list of the most popular online gambling sites in Bangladesh. These sites are successfully running their operation.
1xbet is one of the most popular international platforms in Bangladesh. Founded in 2007, the platform offers secure, reliable, and smooth betting experiences to BD casino lovers.
Jaya11 stands out as a reputable online casino in Bangladesh, providing a broad spectrum of casino games and an immersive gambling experience
8mbet. Known for its extensive game collection and generous bonuses, 8mbet creates a secure and enjoyable gambling environment.
Cricket distinguishes itself by focusing on sports betting, making it the ideal platform for sports enthusiasts in Bangladesh. The site is especially good for cricket bettors who seek high odd.
Jeetwin, a reputable online casino, has garnered a loyal following in Bangladesh.
With an extensive array of games, including slots, table games, live casino, and sports betting, 22bet caters to every player’s preferences. The user-friendly interface, seamless navigation, and attractive promotions contribute to a captivating gaming environment.
Most play caters to diverse gaming preferences with its wide range of games and user-friendly interface.
Is It Safe To Play Online Casinos In Bangladesh?
Yes, in one word it’s legal. Although, land-based casino gambling is illegal in Bangladesh due to religious and legal restrictions. But you can play online gambling in Bangladesh. If you are 18 years of age or older, you are ready to try your luck.
Hope you got a complete idea about the growth of the gambling market in BD. The legalisation of physical gambling is likely to occur in popular tourist destinations first. But the online gambling is rapidly growing in all over the country. Availability of smartphones, internet, high winning odds, easy money transactions, diverse gaming options, and a number of gaming sites, are contributing to the rise in the number of youth playing on betting sites.