Potential of Indian markets for gambling industry
In the future years, India’s gaming sector is predicted to grow at an exponential rate. The gambling industry also contributes significantly to the growth of the country’s total gaming industry. When we consider the variables that will influence the growth of this industry, we can see that regulatory changes are a big contributor to the growth of the gaming scene.
Based on many researches on Beyond the Tipping Point: A Primer present on Online Casual Gaming in India, the gambling business in India is projected to reach INR 290 billion ($3.91 billion) by 2025. These projections show a 113 percent increase over this year’s market size of INR 136 billion ($1.83 billion). Casual gaming, casino and card gambling, and fantasy sports are all included in these figures.
Regulations that have an impact on the growth of the gambling industry
The restriction on well-developed overseas iGaming companies is one of the regulations that has aided the establishment of the local gaming industry. This form of legal action allowed Indian gaming companies to expand and enhance their foothold in the local online gaming market. India’s government has started the Armanirbhar Bharat program to aid the country’s self-sufficiency. The program also includes support for the local gaming sector as well as the production of games influenced by Indian culture.
The legislative structure that governs the gambling business in India is another issue that will have a significant impact on its future development. Because there is no national agreement on how gaming should be governed, each state has its own gambling laws and regulations. The Public Gambling Act of 1867 is still in effect in the majority of states. That law is incapable of regulating internet gambling because it did not exist at the time, and it also lacks a precise definition of “games of skill.”
Factors that have influenced the gambling industry’s growth
It wasn’t long ago that the gaming industry in India was reserved solely for those who could afford pricey systems. However, with the increased integration of online and mobile gaming, the industry is currently seeing a massive expansion. There are currently over 400 gaming firms or start-ups in India that have produced enough products to outperform the console-based sector.
Because games are now freely accessible online and on a variety of handheld devices, the number of active online players between the ages of 18 and 24 has increased dramatically. This age group accounts for over 60% of all online gamers in India, contributing to the growing popularity of online gaming in the country.
The global pandemic is another reason that has fueled the rise of the gambling sector and the broader gaming business. As the country was put on lockdown as a result of the alarmingly high number of Covid cases, more people turned to online gaming. During that time, a particular gaming platform reached new heights, with more than 100,000 new members joining every day. Meanwhile, several traditional casinos launched online platforms to cater to gamblers who were unable to leave their homes.
Indian gamblers are drawn to online gambling because it provides localized content that is easily accessible. Many internet casinos cater exclusively to Indian players’ preferences, offering games such as Andar Bahar, Rummy, Teen Patti, and Texas Hold’em Poker. These games’ live-dealer versions are frequently hosted by dealers who are fluent in local languages, allowing Indian players to fully immerse themselves in the action.
In the future years, India’s gaming sector is predicted to grow at an exponential rate. The gambling industry also contributes significantly to the growth of the country’s total gaming industry. When we consider the variables that will influence the growth of this industry, we can see that regulatory changes are a big contributor to the…