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Stake.com Enjoys Huge Success in the Indian Betting Market Thanks to IPL

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Global gambling business Stake.com has reportedly enjoyed recent success with its Indian betting venture. This is partly due to the country’s eagerness to place bets on the Indian Premier League (IPL) cricket season. The company has revealed that its bettors have already bet over $100 million on these markets.

The betting company, which, like many new businesses is headquartered in Cyprus, has been pressing on with its Indian expansion plans. This comes at a time when many of its competitors are exiting the Indian market due to worries about the GST flat tax on turnover.

As well as the excitement surrounding the IPL, this spike in bets could be attributed to the fact that Stake.com now allows for deposits to be made in Indian Rupees. This change was heavily promoted via an extensive marketing campaign that inevitably piqued the interest of Indian bettors. The website change was cleverly rolled out just in time for the IPL 2024 season.

Bringing the company immense success, Stake.com confirmed how pleased they were with the “unprecedented levels of betting activity”.

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“We are constantly striving to improve our product and want to make Stake easily accessible to as many players as possible,” commented Jarrod Febbraio, Stake’s Director of Commercial.

“With more than $100 million wagered this season alone, the IPL is soaring in popularity, and so is Stake.”

The Indian Rupee is the latest in a long line of fiat currencies that Stake’s flagship sportsbook has made available to its users.

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To market the introduction of the Rupee, the company has launched a holistic marketing campaign, many activities of which include customer offers. One noteworthy offer rewarded players if the cricket team they had backed hit six during the first four overs. There was, however, a stipulation that the selection needed to be made in Rupees. A maximum payout of $25 is also applied.

“The promotion also served as a savvy customer acquisition strategy. More than 80% of users who redeemed the offer were new to Stake as first-time depositors,” Stake noted.

“We wanted to spice things up for the 2024 season, and this promotion was perfect for our customers who don’t like cricket; they love it.”

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