The breaking news is that India’s online gambling market is now the largest in the world. No doubt, 2021 has been a good year for India’s online gambling market is outgrowing the market share of top European and Asian countries. The Indian gaming industry is now valued at $930million, making it the most valuable gaming industry in the world.
Not only this, but India is also the second-largest internet user in the world with over 560 million users. This is an indication that online gaming in India will continually be on the rise. As a result, there is a consequent increase in the number of online casinos and players. The India casino list is now growing at an unimaginable rate to cater to the teeming number of online players.
Factors Responsible For Growth In India Online Gambling In 2021
The staggering growth of the Indian online gambling industry is traceable to numerous factors which include;
● The Covid-19 effect
The Covid-19 was instrumental in the surprising growth of India’s online gambling industry. In an attempt to curb the widespread of the 2020 pandemic, the lockdown strategy was implemented, which saw people stay at home. Interestingly, many gamers were born in the online gambling industry and that led to growth in the media, entertainment sectors as well.
The demand for entertainment became increasingly high during the lockdown. Virtual and mobile entertainment became important to stay out of boredom. As such, gaming companies increased their products and services to meet the demands. Maple Capital Advisor reported that there are now 400 gaming companies in India alone catering to about 400 million users. The whopping number of gamers represents about 15% of global internet gaming traffic.
● Increase in the number of mobile games
The improvement in the usability plus entertaining features of online games is also instrumental to the rise of the Indian gaming industry. The advent of technology gave room for flexibility, which encouraged people to play games on PCs and mobiles from the comfort of their homes. As such, gaming software companies saw the need to create attractive games why the casinos implement responsive websites that are accessible on mobile devices. Also, online casinos now have mobile apps that can be installed and used for quick and easy gaming. This ease in gaming resulted in a rise in the number of online players and revenue in the year 2021.
● India young population
India is the second most populated country in the world and 50% of the country’s population is under 25 years. Also, 75% of India’s population is under the age of 45 years. This age bracket is the target audience of casino games and the gambling industry. Players in the 25 to 75 age range seek entertainment with the hope to win money in gambling. As a result, many engage in gambling as a way of earning extra income. The Indian online gambling industry, therefore, is witnessing consistent growth as the number of players increases.
● Increase in the number of internet users
The Indian internet users’ estimate is over 560 million people in the year 2021. Such a number positions India as the second largest online market in the world. The gaming market in India will continue to see staggering growth with forecasts of hitting 630 million users by 2023.
Consequently, there has also been an increase in the number of online gaming sites to cater to the growing population. Google search for casino sites in Q2 and Q3 of 2020 shows that internet users were all over searching for gaming sites to engage and entertain them.
● Advertisement and bonus factors
Besides the desire to be get rid of boredom and win real money, advertisements were another vital factor in the growth of India’s online gaming industry. As many casinos were launching, it resulted in fierce competition between the companies in winning players. Many of the gaming companies adopted different strategies to obtain a reasonable market share. Advertisement is one and bonus offers are common strategies that many online casinos employed in India to win and retain users. Many offer attractive welcome bonus packages to new subscribers with robust plans to reward their existing customers.
The Indian online gambling industry witnessed unprecedented growth in the year 2021. Such growth is not accidental because it can be traced to numerous factors. Covid-19 is one big player in the Indian gambling market growth. We anticipate more figures in the number of users and revenue as many factors show a pointer to a huge growth come 2021 and 2022.