India’s rapidly growing online gaming and betting market
Indians enjoy card games and skill-based games. Card games are widespread throughout the country, and different regions have different variations of popular games. While individuals used to play card games mostly at social events in the past, the younger generation now has the option of playing games on their phones.
Gaming studio developers have been working hard to provide live dealer versions of popular games. The user interface, speed, and responsiveness of games have improved significantly in recent years. Fast internet connections and high-end smartphones have also helped improve the user experience for gamblers online.
Sports betting the big favorite
Indians have embraced cricket, as evidenced by the coverage given to cricket matches on television, the internet, and in the news media. Advertisers save a sizable portion of their marketing spending for cricket events. Other sports are also gaining popularity in India, such as Kabaddi or football, but nothing can truly compare to cricket.
Cricket betting has evolved away from illegal, off-site networks and toward well-regulated online sports betting platforms. These platforms allow sports enthusiasts to enjoy gaming activities and place bets on a wide range of sporting events from around the world. New players usually claim a bonus when trying a new site. Therefore, it may be a good idea to compare many welcome bonus betting sites and choose the one with the best conditions.
The enormous rise in this industry demonstrates that Indian sports fans are already at ease betting on these platforms. This area has a bright future in the Indian market. Major platforms from Europe and North America have planned significant future investments in this industry. In the future, Indian bettors can only expect improved gambling options and platforms.
Real money games are experiencing rapid growth
According to a KPMG report, internet gaming has been a rapidly growing industry in India in recent years. After the Covid-19 lockdowns, online services and shopping have grown rapidly.
Playing online games and streaming online videos has become a standard for Indians, thanks to quick and low-cost internet access. On social media, people share films and multimedia content with their friends.
Real Money Gaming (RMG) has also expanded from card games to fantasy sports. Due to large media campaigns sponsored by Dream11 and My11circle, the fantasy sports area has seen a surge in popularity. According to FICCI-EY estimates, fantasy sports might be worth $2.5 billion this year, and with robust user growth, it is predicted to reach $3.7 billion by 2024. For the fiscal year 2020, Dream11 earned Rs 2070 crore.
Along with card games, sports betting and casual games are gaining popularity among Indians. Many companies in this area are developing games for the Indian market.
The Indian government has been encouraging Indians to make online payments. The Unified Payments Interface (UPI) has grown rapidly as banks and financial organizations have embraced the network. Online transaction value increased from INR 2 trillion in January 2020 to INR 4 trillion in January 2021. People have grown more comfortable spending money online as online payment networks have become more widely available.
India’s land-based casino future
The Indian government has severe anti-land-based casino rules. Because gaming is a state matter, only a few states (Goa, Daman, and Sikkim) permit land-based or floating casinos aboard ships. In India, floating casinos include Casino Deltin Royale, Casino Deltin JAQK, Casino Pride, and Casino Pride 2. While there have been requests to change the rules, the Indian government has yet to do anything. According to statistics, casinos in Goa contributed INR 180 crore to state income in 2018. Local governments could benefit greatly from regulated gaming operations. The Indian gaming market might be worth $60 billion, according to industry estimates.
Today, online casinos can operate in India (excluding the states Telangana, Andhra Pradesh, and Odisha) provided they are controlled by offshore corporations. There are reputable businesses situated in Europe and North America that have specialized websites for Indian bettors to engage in online gambling and sports betting. These platforms are audited and overseen by respected gaming authorities, like the Malta Gaming Authority, the Gambling Commission of the United Kingdom, and the Gibraltar Regulatory Authority.