World’s Largest Basketball Tournament Expected to Set New Records in Sports Betting

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The Association of Indian Universities (AIU) will host the world’s largest basketball tournament in Chennai, India, from January 12-19. Indian actor/producer Mr. Abishek Bachchan and NBA All-Star and 1992 Slam Dunk Champion Cedric Ceballos will guest host the tournament.

Among 200 businesses surveyed, 74 percent of them believe 'legalizing sports betting will help curb match fixing problems.'

The Association of Indian Universities (AIU) will host the world’s largest basketball tournament at the Catholic Sathyabama University in Chennai, India, from January 12-19. This event will attract teams from 214 of India’s largest universities. It will be hosted by former NBA player Cedric Ceballos and will be televised nationally on Indian television. Because of the size and celebrity cache surrounding the tournament, it is expected that the tournament will set new records in sports betting and stimulate local business activity.

Although India’s economy has much room to grow, Macau’s gambling activity and potential growth far exceeds that of Las Vegas. Many believe it is only a matter of time before the AIU annual men’s knockout basketball tournament will make its mark on every sports book up and down the Vegas strip and Macau. India law prohibits betting on sports, except on selected events such as horse racing. Yet according to the industry association, “The underground betting market is worth almost $52 billion in India.”

While betting may be illegal, it is an activity much desired by Indian businesses. According to a survey conducted by the Federation of Indian Chambers of Commerce and Industry in 2012, among 200 businesses surveyed, 74 percent of them believe “legalizing sports betting will help curb match fixing problems.” Exploring the prospects of underground betting is certainly worth the effort.

With a growing economy in India and expanding interest in Western sports and gaming, odds are certainly in their favor.

For more information on this groundbreaking event, please contact Amy Osmond Cook at amy(at)osmondmarketing(dot)com.

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Amy Cook
@OsmondMarketing
since: 04/2010
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