India to take a biggest stake in the global casino market
$6,000 Welcome Bonus
The online real-money gaming sector keeps growing at a fast pace year after year. According to research on the online gambling market by IMARC Group, the global online gambling market hit a value of USD 72.3 Billion in 2021. The report further predicts that the industry will reach USD 131.4 Billion by 2027 and will experience a 9.96% CAGR between 2022 to 2027.
Some of the reasons for the large growth of online gambling around the world are rapid urbanization and the increase in access to the internet. Furthermore, governments of many developed countries are legalizing and creating frameworks for online gambling to strive in their jurisdictions.
India is one of the biggest contributors to growth in the global online casino and betting market. This of course is a result of the Indian population which is over 1.3 billion and the availability of internet access and smartphones in the country. According to Economic Times India, the country is expected to have more than 900 million internet users by 2024.
Other sources predict that the total revenue from online casino gaming in India will reach USD 34.32 million by the end of 2022. At the same time, the number of downloads in the casino games section is projected to hit 67 million downloads while the revenue from in-app purchases is projected to hit USD 24.81 million.
How the industry is spreading in India
Although the population plays an important role, some things attract people to online casinos and betting sites. One of them is the availability of local games on the platforms.
For example, you can play Andar Bahar on almost every casino targeting India today. There are several innovative versions of the game online, both video and live dealers. The live dealer Andar Bahar games are even more popular as players get to interact with themselves and even the human host of the game. Another example is Teen Patti which can also be found at several Indian online casinos.
And for the casino sites that also offer sports betting, you'll find out that they pay special attention to cricket betting. They offer special cricket odds, bonuses, and promotions to encourage punters to wager on events. Some sites also offer betting markets on Kabbadi.
Another reason for the fast growth of online gambling in India is the mobile compatibility of the platform. Almost all casino sites today work seamlessly on smartphones, whether Android or iOS. The games (both video and live) are also built with HTML5 technology which ensures that they are playable on mobile browsers. Some casinos offer downloadable mobile apps too.
Fast and easy payments at casino sites further enhance the experience. Online gambling sites accept payments in rupees and also partner with Indian local payment processors such as PayTM, UPI, Netbanking, and Rupay.
Finally, casino software companies, such as Betgames Tv, are beginning to employ the services of Indians to host their games in popular languages like Hindi. Many Indian betting sites also offer customer support in Hindi and make their websites available in the language. Other languages that you may find at online casinos are Telugu, Kannada, and Bengali.
With all these factors combined, the online casino and betting industry is attractive to the regular Indian passionate gamer. As Statista predicted, the total revenue of the casino gaming industry in India will likely experience a CAGR of 9.66% between 2022 to 2026 and hit a market value of USD 49.63 million.
