India’s iGaming industry has been steadily growing in the last few years. It was able to reach the billion dollar mark in 2021 and by the end of this year, it’s projected to earn revenues up to 1.70 billion USD.
Statista also reports that iGaming revenues in India have a CAGR of 9.79% from 2023-2027. That said, the industry will be worth over 2 billion USD by the end of 2027.
These numbers are telling us how India’s iGaming market will continue to grow in the coming years. But why is this a rising industry? What’s driving the growth of iGaming in the country, and is this even legal in the first place?
We’ll try to answer all that in this article, so keep on reading.
The Changing Entertainment Landscape in India
India’s main source of entertainment has to be movies and sports, especially cricket. Everybody knows how massive cricket is in India, and the popularity of this sport also comes with the country’s interest in sports betting.
Aside from sports wagering, India is also known as a country that loves to play real money games. Just take a look at the popular activities during festivities in the country like Diwali. Many would say that such celebrations aren’t complete without playing card games like Andar Bahar.
While real money games have always been popular in the country, it’s undeniable that this started to significantly grow during the pandemic. According to Play Today, iGaming grew by 40% during the lockdown and 15% of the iGaming traffic is from India.
Even after the lockdowns, many continue to enjoy iGaming activities, especially now that they’re more accessible online.
What’s Driving the iGaming Boom in India?
Aside from the pandemic, other factors driving the growth of the local iGaming industry in India. Let’s go over what these factors are:
- Improved Internet Connectivity – India has witnessed a substantial increase in Internet penetration, particularly with the expansion of affordable mobile data plans. The rollout of 5G also somewhat positively impacted the interest in iGaming.
- Smartphone Revolution: India is one of the largest mobile markets worldwide. Today, it ranks second with the most number of smartphone users with over 606 million. The majority of them are online and are most likely interested in gaming activities.
- Safe Online Payment Solutions: It also helps that people are getting more comfortable in making online transactions. Some of the popular online payment methods in India today include the use of credit and debit cards, UPI, NetBanking, and e-wallets like PayPal, Skrill, and Neteller.
- Generous Promos and Bonuses: More and more people are starting to understand how bonuses can boost their bankroll and give them more chances of winning. To entice more people, iGaming sites are now offering generous bonuses that many think are hard to resist.
- Convenience: Ultimately, convenience plays a huge role in making people more interested in iGaming websites. Indians no longer have to travel to regulated casinos to play their favorite games on iGaming sites like 10CRIC. They can now play anytime, anywhere without any hassle.
The Legal Landscape of iGaming in India
Despite the popularity of iGaming in India, where does it stand in terms of legality? Well, gambling activities in the country are regulated with the Public Gaming Act of 1867 which has no mention of the Internet.
When it comes to Internet activities, these are regulated by India’s Information and Technology Act of 2000. This too has nothing on how to regulate iGaming, so technically, the industry is thriving in the gray area.
However, it’s worth pointing out that the Indian government is starting to show interest in the industry. For now, it’s still a wonder if iGaming will be regulated in the country similar to how other countries like the United Kingdom are doing.
While there is hope that iGaming will be regulated, there are also Indian states that will likely prohibit such activities. In 2020, Telangana and Andhra Pradesh were the first two states to impose a blanket ban on real money gaming.
Whether more states will follow suit is something that we still have to wait and see.
Conclusion
While there is a need to regulate iGaming in India, the locals are still free to bet on iGaming sites that are based offshore. Is this safe?
It depends.
As a responsible online player, it’s important to do your research and only deal with licensed and regulated iGaming sites and apps. Reading reviews can also help you get a better grasp of what an iGaming operator is like.
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