The Intersection of Global Sports Betting and Cryptocurrency
The global sports betting market size was valued at USD 32.86 billion in 2025 and is projected to grow at a CAGR of 10.8% during 2026–2034. Regulatory reforms in several countries are opening new markets for licensed sports betting operators. Legal clarity encourages institutional investment, consumer participation, and revenue growth across digital and land-based platforms.
Market Projections and Stablecoin Adoption
The sports betting market is expected to reach USD 111.9 billion in 2025. By 2035, the sports betting market is projected to reach USD 298.1 billion. The rise of in-play or live betting enables bettors to place bets on live matches, which positively impacts the expansion of the sports betting industry. During a long tournament, many bettors also prefer stablecoins (like USDT) so a match result doesn’t get overshadowed by a sudden crypto crash.
IPL Market Scale and the Crypto Betting Boom
Renowned for its electrifying cricket matches and massive fanbase, the Indian Premier League (IPL), is embroiled in betting scandal that has raised serious concerns. The two-month-long cricket league… is a major catalyst for annual Indian gambling demand in excess of $100 billion, according to analysts. In IPL 2024, reports put JioCinema’s viewership at 620 million viewers for the season. That scale creates fertile ground for IPL Bitcoin wagering and stablecoin-led deposits, especially for bettors who already hold crypto.
Surrogate Sponsorships and BCCI Interventions
Indian Premier League (IPL) teams will be banned from signing commercial partnerships with cryptocurrency and betting companies… The Board of Control for Cricket in India (BCCI) reportedly told franchises in the domestic Twenty20 league that ‘no sponsorship deals with cryptocurrency and betting companies via surrogate measure will be allowed…’. A BCCI official also told InsideSport that the organisation was ‘concerned about some of the betting companies advertising via surrogate methods as news platforms or other measures’. ‘We will not allow the same in future,’ the official added.
Fraud, Mule Accounts, and Regulatory Crackdowns
This time, the cyberfraudsters are using cryptocurrency, mule accounts and fake government sites to dupe the audiences. Further, the reports have also said the online bookmakers located overseas provide illegal access to residents via cryptocurrencies, and also use mule accounts in the local banking system. Dhiraj Gupta, Co-Founder and CTO, mFilterIt… said, ‘What we’re witnessing is a sophisticated laundering pipeline where crypto is used to bypass conventional financial oversight, while mule accounts within Indian banks help move money discreetly’.
Enforcement and Industry Action
Recently, in a significant crackdown, the Rajasthan Anti-Terrorism Squad (ATS) dismantled a massive IPL betting ring with transactions amounting to ₹495 crore. Simultaneously, the Enforcement Directorate (ED) attached assets worth ₹219 crore linked to the Fairplay betting portal. The portal was found to have illegally broadcast IPL matches and engaged in online betting activities. Experts suggest that a multi-pronged approach, including stricter monitoring of online platforms, public awareness campaigns, and harsher penalties for offenders, is essential to curb the menace of illegal betting in cricket.
Leo Falsafi is a digital marketing veteran and senior journalist at Virlan.co, where he covers the intersection of digital marketing, gaming, and breaking US trending news. With nearly two decades of hands-on experience in SEO and digital strategy, Leo has consulted for and scaled hundreds of companies. His deep industry roots allow him to deliver sharp, fact-checked insights and analysis on the trends shaping today's digital landscape.