The US, UK, and Scandinavian countries remain the market leaders in online gambling – however, other countries, even if they lack market maturity, are registering significant growth.
One of these countries is India. Boasting a population of over 1.3 billion, everything in India is on a massive scale. And for any industry to make headway within this context – it’s like hitting the proverbial jackpot.
Online gambling is one such industry that is experiencing a boom. This is driven by two main factors. First is the increased access to reliable internet access. India is improving its ailing infrastructure to improve internet access – it is estimated that by 2023, there will be over 650 million internet users in the country.
This – together with the availability of affordable smartphone devices – gives people access to payment methods like credit cards and e-wallets, as well as to entertainment outlets like gambling.
The second factor is the gaming legislation – which is a veritable minefield. Online and land-based gambling in India remains largely unregulated – and technically, gambling is prohibited. However, betting on horse racing is legalised at state level, while state governments can also authorise lotteries within their jurisdictions. Government has also regulated certain organisations to license titles.
Moreover, these two factors are in motion within the context of India having a rich sports heritage, a tech-savvy middle class and a flourishing economy.
Due to this online gambling boom in India, many local companies which provide their offering to the Indian market have seen an increase in new revenue, and also in their demand for staff to maintain and grow this new market. Moreover, industry players are trying to accommodate Indian players by developing games which are new to the traditional online casino industry, but which have a strong hold over the Indian gambling market.