iGaming leaders watch the Indian market
It’s clear that the online gambling market is soaring in India and with that, they’re beginning to attract a lot of attention from some of the leading industry players. Our country has a population of over 1.3 billion people and for those who don’t already know, we are the second-most populous country next to China.
Is it any wonder India is such a desirable country for industry leaders? Even though it’s easy to put this on the number of people living here, there are a few other clear reasons why operators are watching the country.
Yes, it’s true, us Indians have a pretty keen interest in the sport. Particularly cricket. And we’re pretty good at it too! In fact, the most-watched sports league in the world is actually The Indian Premier League (IPL). This is hugely popular with both local and international spectators and the fact it’s so popular is evidence of just how profitable sports betting is here in India.
The number of people using the internet is also increasing at a fast rate all over India. Even just looking back between 2015 and 2018, the figure grew from 259.88 million people to 483 million. According to Statista.com, the number is forecast to grow to 666.4 million by 2023 which is further helping to make India a key contender in the world of iGaming.
India is seeing growth in both online casinos and online betting, making it a market of interest for affiliates and operators.
Editor-in-Chief of affiliate site MyBetting.in, Tomesh, recently shared some thoughts about gambling in India at this moment. Tomesh said that from an affiliate’s perspective, it’s a fun market to closely follow. He went on to say that the online gambling market has recently seen huge growth, particularly in the last few years and that it is consistently on the rise. However, it has challenges that are different from experienced markets. He believes it’s critical for affiliates to educate and notify the players about where and how they should play, which is true for both sports betting and casinos. He continued by saying that in other already regulated and established markets, players usually have limited understanding of betting online. This means they are more focused on the bonus offers available. Another thing to consider for a company to succeed is to inform the visitors about whether gambling is legal or not.
There is no doubt that India really is one of the most appealing markets at this very moment and looking ahead, there is no reason why it should continue to increase in popularity.
Tomesh was also clear in the fact they are banking on India becoming one of the world’s largest markets for them in the future. So much so, it’s why they chose to launch MyCasino.in which is their second site which provides users with an online casino comparison in India. He was also clear in stating it was important for the operators they partner with to comply with local laws as well as offer deposits and cash outs in the local Indian Rupee currency.
The laws and legalities around gambling in this country is currently a grey area as some current laws date back to the year 1867! This means a lot of these laws don’t work or fit in with the new online gambling market. There isn’t a lot of regulation in this market and online gambling is completely illegal in the state of Maharashtra, the existence of it is accepted in other parts of India.
This is mostly the case in a lot of unregulated markets and it is why global operators located outside of India are often a good alternative for players.
What does the future hold for gambling?
The biggest gambling markets all share one thing in common and that the need for internet and smartphones, which are both growing trends in our market. So, keeping this in mind, the future for gambling in India is forecast to become bigger and more extensive than it already is making it an exciting opportunity for anyone in the iGaming industry, both affiliates and operators alike.