Online Gambling India continues to grow at a rapid pace. In a recent study of Statista, the entire gaming market of the country is valued at around 62 billion Indian rupees in 2019. Furthermore, it was estimated to go up to over 250 billion rupees by 2024. In a separate report, a local news website also reveals that real money gambling in India also continues to grow at a rate of 20% per year.
Interestingly, gambling in India except for horse racing and natural lottery. While there is no law in the country that bans casino online gambling, the government doesn’t issue any gambling license to any online casino in India. Here, we take an in-depth look at how online gambling continues to thrive in India. From various studies and experts’ insights, the following are the key drivers for gambling market growth in the country.
Smartphones and internet availability
The number of smartphone users in India was estimated to reach over 760 million in 2021. The country also ranks second the number of internet users in the world. This year, India had nearly 700 million internet users across the country. This advancement contributed greatly to the flourishing sector of online casinos in India.
Many Indian online casinos nowadays, can be played on any mobile device. Furthermore, with HTML5 technology, all online casino games are compatible with Android, tablets, and iOS devices. Top online casinos also in the country such as Happyluke and 1xbet India offer players a downloadable mobile app for more flawless gameplay.
Sign up bonus and other online casino promotions
Online casino bonuses such as sign up bonus casino, free spins, and no deposit bonus draw a number of Indian players. These casino promotions are being used by different gambling companies to attract more players to play. Depending on the type of bonuses available, this can instantly boost anyone’s bankroll.
Bonuses such as sign up bonus or welcome offer are exclusively available for new players only who made a successful first deposit. No deposit bonus and free credits, on the other hand, are the most famous casino bonuses all players can claim this without the need of spending any amount.
Indian loves to bet
People in India love gambling. Indians enjoy many types of card games and the country has a huge sports market. This is also the main reason why many foreign gambling firms target the Indian online casino market. A recent study revealed that India’s 80% of Indians gamble at least once a year. And because of the strict laws in land-based casinos, many players shifts online to gratify their gambling needs.
Localized gambling contents
To entice many Indian players, different casino gambling websites targeted content. Top online casinos like Jeet Play offer traditional Indian card games such as Andar Bahar and Teen Patti. Online casinos in India offer two versions of these games – the video or virtual game and the live casino game.
The virtual Andar Bahar or Teen Patti games are run by RNG or random number generator to keep the result unpredictable and fair. This type of game can also be played for free. The Live casino version, on the other hand, allows you to play with the real human dealer. You have the chance to choose the color of the table, the game provider, and the dealer. Many players prefer the live casino version because they can see the whole process of dealing with cards in front of them.
More convenient payment system
Top online casinos in Thailand offer several ways to process your finances on the casino online gambling website. International casino websites support several e-wallets such as Skrill and Neteller. The majority of online casinos in India also support Visa and Master cards, while local casinos support online banking and QR payment methods.
Other methods that are quickly on the rise in Online gambling India are bitcoin and other cryptocurrencies. The cryptocurrency allows the player to process their payment and withdraw winning several times faster than the traditional payment system.
Blooming economy
India is one of the fastest-growing economies not only in Asia but also in the world. The country ranks fifth in Investopedia’s top economies in the world. India’s GDP is $2.94 trillion. This means that country produces more jobs and incomes for its citizens every year.
With a number of people who have disposable income, it is not hard to see that some of them would go to online casinos to play gambling, especially the majority of the country’s population is young.