SBC News Voice of the Sports Betting Industry
Stake.com has benefited from a ‘major surge’ in betting on the Indian Premier League (IPL), as its sportsbook offering has been customized to engage with ‘cricket crazy audiences’.
The cryptocurrency bookmaker announced that it has recorded more than $100m wagered on the IPL 2024 season thus far. IPL betting volumes are expected to reach record-breaking levels as the world’s biggest cricket tournament enters its play-off phase and finals this May.
Record wagering on the IPL has been boosted by Stake.com enabling deposits in Indian Rupee (INR) for the very first time.
As detailed to media: “The Indian Rupee is the latest of six fiat currencies available on the flagship Stake.com sportsbook, along with 20 cryptocurrencies.”
Beyond the currency integration, Stake.com ran one of its most successful promos during the IPL 2024 season.
IPL punters were paid out as winners, even if their team went on to lose the match, on the condition that their team managed to hit a six during the first four overs. The only stipulation applied to the promo was that wagers must have been placed in INR with a maximum payout of up to $25.
The promo’s payout was awarded during 30 of the 48 IPL matches, implying a 63% success rate for Stake.com cricket customers and leading to significant rewards for participating audiences.
Settling its IPL promo, Stake.com declared that it had returned $30m to customers, as the bookmaker detailed that more than “80% of users to have redeemed the offer were new to Stake.com as first-time depositors.”
Ahead of the IPL’s final on Sunday 26 May, Commercial Director Jarrod Febbraio underscored Stake.com offering the best value for cricket audiences.
“We are constantly striving to improve our product and want to make Stake.com easily accessible to as many players as possible,” said Febbraio, “With more than US$100m wagered this season alone, the IPL is soaring in popularity, and so is Stake.com.”
“We wanted to spice things up for the 2024 season, and this promotion was perfect for our customers who don’t just like cricket; they love it.”
