India is, by far, one of the most intriguing markets that gaming companies all around the world are keeping a close eye on. The curious contrast between the country's heavy ban on gambling and gaming activities as opposed to the undying love for sports betting and casinos shown by Indians are at the core of the paradox here.
In 2013, around 30% of all passengers flying to Goa were gamblers eager to spend their cash in the most exciting land-based and river floating casinos in the country. Today, there are still plenty of passionate gamers who are fine with the idea of wagering using casino houses that are not officially licensed, which could easily bring them a fine. Players in India are interested in doing their gambling legally and the growing number of players is living proof of that.
If you would like to know what the Indian gaming industry looks like in figures, you have reached the right page.
Top Online Gambling Sites In India
Gambling In India In Figures: Past, Present and Future
At the moment, Goa, Daman and Sikkim are the only states where tourists and locals are allowed to fully enjoy traditional casino games. The Goa, Daman and Diu Public Gambling Act issued in 1976 continues to set bans and limitations to casino venues that can only be run inside 5-star hotels and floating vessels on rivers. This means all companies and entrepreneurs who are interested in opening a land casino in a different location will be placed outside the law. In terms of online gambling, there aren't any licensed casinos online managed by Indian companies. Negotiations for 888 and William Hill to receive a license to operate in the country failed in 2010 in Sikkim.
However, offshore companies are able to provide their gaming services online to Indian players as long as they accept deposits, wagers and withdrawals in Indian Rupees. This means players continue to have plenty of solid choices when they wish to gamble real money online, leading to official 2024 projections that are said to reach a whopping 250 billion Indian Rupees in terms of the gambling industry value. At the end of the current fiscal year 2020, the country is also expected to be worth close to 88 billion. The growth might sound far-fetched. To understand the fast pace at which the industry is growing, you should know that during the previous year (2019), the industry was worth 62 billion Indian Rupees.
India seems to be closely following the current international trends in terms of mobile gambling, and this is also contributing to the success of the industry. People's interest in engaging in more mobile casinos and mobile sports betting can be traced back to a large number of mobile players in the country. We are talking about 201 million mobile gamers in 2016, with 326 million players expected by the end of 2020. In the upcoming two years, experts speak about 370 million eager mobile players ready to get lost in their favourite games of poker, roulette, horse race betting or blackjack.
India is also in the top five mobile international gaming markets when it comes to the number of active players, and players have expressed their interest in doing mobile gaming instead of playing computer games or using gaming consoles. With a continuously growing number of the affordable tablets and smartphones and the introduction of 3G and 4G technologies during recent years, India is also an excellent market for eSports and interactive forms of gambling on the go. The future will most likely hit the mainstream entertainment scene in the country sooner than later. Mobile gaming in India is projected to reach $105 billion in value by the year 2023.
Mobile games like PUBG mobile and top casino software developers like NetEnet are also important factors influencing the gambling business in India. Their fresh, original and Indian-friendly content that is directed toward domestic gamers and the success of the game development industry is also creating the perfect breeding ground for an emerging gaming and gambling industry.
The Influence Of Gamers' Habits On The Indian Gambling Market Growth
Indians have always had an impressive desire to play fun games as a means of befriending their foes or staying entertained. This has always impacted the general gaming market to a large extent and things stand the same way today. In 2018, more than 24 per cent of a survey stated they were spending between one and three hours a week playing video games. The same data said that forty per cent of Indian men and thirty-five per cent of women choose to play games n their mobile devices at least five days a week.
Most players are aged 18 to 24 and their preferred mobile game is PUBG Mobile. This game easily reaches $7 million in profits on a monthly basis in the country. By extrapolating the numbers to other popular titles players enjoy engaging in periodically, it is easy to understand that average gamers have a huge impact on the industry.
New technologies that are making their way on the Indian market, with special emphasis on Artificial Intelligence, are also contributing to the impressive developments. The global market for AI gaming is worth more than $20 million and India would is definitely expected to grab a big piece of the pie as well in the near future. Computer Vision is a special scientific field that studies the way computers can gain a deeper understanding of videos and digital images. It is a field that is expected to bring even more growth in the gaming market in the country, as well as other parts of the world, as lots of gaming developers are interested in tapping into the amazing potential of this technology. The international market for Computer Vision is projected to be worth over $48 billion by the year 2023, so Indian game developers have a lot to
The Future Of The Indian Gaming Industry In Numbers
A study that has been completed by PlayWin, which is a popular state lottery in Sikkim, showed that the country is expected to lose over $1.5 billion in taxes on a yearly basis simply because the government officials are still choosing to ignore the virtual casino industry. This means the overall economy in the country is losing important money as well.
Lots of voices are asking for how long will the government continue to ignore the thriving online gambling industry. During the Holi festival, which is a famous ancient Hindu festival, statistics show that gambling activities rise up to 40%. They also usually take place in illegal and often times improvised gaming houses and casinos that are not in any way regulated by state laws. This, however, does not stop passionate gamers from pursuing their favourite activities. Without a doubt, gambling has an impressively rich history and it would appear that no restrictive rules could ever stop people from enjoying their gaming. The government could take advantage of the huge revenue taxes and fees that both players and land and online gaming houses would pay to the state's budget.
In fact, India is expected to soon walk into the shoes of the Italian and English governments and start issuing licenses to online casinos. The effect on the state budget is easy to guess once these licenses will start to turn into reality. At the same time, the same measures should better protect players and offer them the ideal regulatory framework so they can keep enjoying their fun time online. At the moment, Sikkim and Nagaland are the only Indian states that have some regulations regarding online casino gambling.
The Growth Of The Sports Betting Market In India
Lots of virtual casinos and sports betting platforms focus on sports betting and Indians are eager to watch this market segment rise and grow as well, and not be solely limited or restricted to horse race betting. Punters in India are big fans of other sports such as football or tennis and we should expect to see a number of legal sport betting platforms in the upcoming years.
Indian punters also have an undying love for cricket bets and the sport is oftentimes defined as a genuine religion. More and more Indians choose to wager on cricket today and, provided cricket betting and sports and fantasy sports betting, in general, would take off the right way in the country, they would definitely turn into one of the most successful markets on the planet. That government would no longer be able to ignore the mind-blowing earning potential in terms of tax revenues. In the UK, players are not asked to pay any tax for their winnings. However, remote casino and sports betting gaming operators are asked to pay 15 % in taxes to the UK government.
India could follow the lead and take advantage of the 300 million gamers' market and it's very bright looking future. Online gambling revenues have already doubled in the last 5 years, and experts speak about a growing trend with huge potential. In the next decade, the country could become one of the most successful gambling nations in the world.