In the past decade, India has seen a surge in online gambling websites as well as mobile games. Where online websites are gaining huge traffic from desktop and laptop users, mobile games and apps have flourished due to the boom in the smartphone market in India. To take into account recent statistics, online casino India has seen the most growth compared to any other sector in online gaming. This trend has been synonymous with some other Asian nations as well. And, this can be directly traced back to an increase in investments from MNCs to tap into the new markets.
The Valuation of the Gambling Industry in 2019
The entire gambling industry in India was valued at around 62 billion INR. This valuation includes online casino India and offshore properties as well. The real reason behind the valuation arises from the fact that the assets of the companies are all abroad while their customer bases are in India. Casino tables, sports, and slots have been revamped into their digital avatars by major game developers. At times a single online casino can have more than 1000 different games across a wide variety of categories to choose from.
- The digital revolution in India during the last political year 2014-18 saw a significant rise in mobile devices.
- In 2019, India’s mobile market shipped a record 46.6 million smartphones connecting a significant population to the internet.
- This resulted in a rise in online gaming market revenue in India by 7 times in 2018 as compared to that in 2016.
There is Still a Lot of Untapped Potential
A large portion of online casino India has been supported by companies offshore and pushed forward by Google Analytics and Google Ads. This has not found a general consensus among government and public domain advertising giants in the country. With the lack of such support, India, as speculated by some experts, can miss a lot of opportunities. This would directly mean a lot of potential for strengthening the economy can be missed. To tap into this growth in online gambling industry measures need to be taken.
- A lot of users online are not part of online gambling or online gaming user-base in India.
- A small portion of the tech-savvy middle-class makes up most of the revenue each year.
- India can miss out on up to $1.5 billion in revenue from online gambling if goes unregulated.
Despite the strong potential, the country has seen steady growth in online gambling in the past decade. As more and more people come online and are connected by the Digital India initiatives, the online entertainment industries are making more and more money. They are investing more in resources, better games, and better customer support.
There have been several projections and reports that have studied this ‘New Upcoming Market’ in the country. Being a developing economy a lot of attention from international MNCs, online casinos and sports betting companies is on India. They are eager to sign MOUs and partnerships to enter the untapped markets that go beyond the cities and tech-savvy upper class.