Cricket Craze in America: Ticket Prices Soar for T20 World Cup
Cricket is so popular in America that tickets for its matches are being sold at a higher price than sports events like NBA or Major League Baseball. T20 World Cup tournament director Fawaz Bakhsh said that the ticket prices for Pakistan-India on June 9 and India-Canada matches on June 15 were higher than expected. The most expensive ticket for the India-Pak match is being sold for Rs 1.45 crore on SeatGeek, this website also sells resale tickets. At the same time, the average price of a World Series ticket last year was Rs 91,300, while the maximum price of an NBA final ticket was Rs 20 lakh.
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Betting Bonanza: Cricket’s Emergence as a Popular Wagering Option in the US
Cricket, an option of money, respect, and power in India, is being played for the first time in the US in the form of the T20 World Cup. Betting is the most discussed. Although it is illegal in India, it is legal in America. For him, cricket has become a new option for ‘richness’. For this, the betting website DraftKings has partnered with the NFL. ESPN has created an official sportsbook. So the speculation started from the first match itself.
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According to sports betting evaluator Noah Naparst, bids of more than 200 crores are likely on the first day of the T20 World Cup. 500 betting websites and apps active. Sports and betting go hand in hand in America. If you are watching cricket on a betting app and the bowler is about to bowl, then the app asks whether this ball will hit a four or a six..? Because betting is legal in the US, leagues, franchises, players, and networks contract with betting associations. According to the American Gaming Association, Americans bid more than $1 million at legal sports books last year. This is 30% more than in 2022.
Economic Impact: T20 World Cup Spurs Record-Breaking Betting Activity
According to the US Gaming Revenue Tracker, bids of Rs 87,067 crore were made for the Super Bowl, America’s biggest sporting event, in February 2024. This amount was 24.8 percent more than last year. According to a report by the Coalition for Fair Gambling, this resulted in more illegal betting than legal. Legal betting was Rs 19,920 crore, while illegal betting was Rs 35,690 crore. Betting industry expert Ben Andrew estimates that cricket will lead to a boom in betting. As a result, Americans will spend Rs 4.15 lakh crore on legal sports betting this year. According to the US Census, New York State collects the highest tax in the country through betting. The interesting thing is that most T20s take place in New York.
Last year in 2023, the total revenue from sports betting was a record Rs 91,000 crore, Disney, the official broadcaster of the competition, hopes to earn Rs 2,000 crore through advertising. A 10-second slot was sold for Rs 6.5 lakh, according to Naproast, if the T20 World Cup is successful in terms of betting, the same enthusiasm will continue for the upcoming Major Cricket League. This will also increase the flow of dollars into cricket, which is also expected to shower money on the Indian owners of local cricket teams like LA Knight Riders, MI New York, San Francisco Unicorns, Texas Super Kings, Washington Freedom, and Seattle Orcas.
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