How the emergence of iGaming is disrupting India’s traditional gambling landscape
As one of the world’s fastest developing countries, India is increasingly finding itself at the forefront of technological advancement. During the last 20 years in particular, new technology is finding its way to the nation’s cities much quicker than before.
India’s status as an emerging economy, coupled with the sheer size of its population, makes it the perfect target market for businesses. And although the GDP rate has remained steady in recent years, its take-up of new innovation means it is becoming known as more than just one of the world’s biggest manufacturers.
In particular, India’s assimilation into the global marketplace for new sectors has been noticeable. The emergence of high-speed internet access has made it easier for the country to become part of broader business networks.
In this article, we will be focusing on one of those sectors – gambling – and examine how the emergence of iGaming has affected the marketplace.
Gambling in India
As is the case in the vast majority of countries, gambling activity in India is subject to comprehensive regulations, with the rules differing depending on the state you’re located in. For example, the rules in Goa, Daman, and Sikkim, where casinos operate, are distinct.
Advocates for the relaxing of regulation believe gambling has the potential to generate revenue for the country, with some of the casinos opening in recent years already making a significant financial contribution to the broader economy.
India is also a nation that is passionate about sport, with cricket recognized as the country’s favourite game. And many believe that the legalization of sports betting could help provide funding for clubs and players both at the elite and grassroots level.
The impact of iGaming
Online, the industry remains in its infancy, but the emergence of iGaming has helped broaden the possibilities for the industry. The state of Sikkim permits online lottery games, and players from throughout India are able to participate.
And industry observers predict that other states will follow suit following the success of this initial roll-out. Furthermore, leading casino brands are registering new operations in order to engage with Indian players, including websites like Genesiscasino.com/en-in which offer a localized guide to the games available.
The games available to players do not appear too dissimilar to those on offer in countries with more established gambling industries. The global nature of brands allows products to be rolled out into new international markets relatively easily.
The potential
The gambling industry online is hugely lucrative, with significant growth recorded during the last ten years. Reports like this article on forbes.com provide an insight into what the future could hold for India after the legalization of sports betting in America recently passed the $10bn mark.
With a global value estimated at $53.7bn in 2019, it’s clearly an industry that any growing economy should seek to be a part of.
And with those figures, and that potential, front of mind, it will be fascinating to see how the traditional gambling landscape in India evolves in the years ahead.
