Online gambling continues to be one of the fastest growing industries on the market right now. As people seek entertainment options, online gaming becomes the go-to solution for those who want to enjoy a thrilling experience and win rewards at the same time. The rapid growth of the industry triggered a slew of new online gambling websites and platforms.
Online gambling sites in India are also showing a healthy growth. The online gambling industry in India is growing in size, catering to more players and delivering a positive user experience in general. However, is this rapid growth sustainable? Experts are saying that the fundamental reasons for this rapid growth make it sustainable.
The Era of Gaming from Home
There is no doubt that the increase in demand for home entertainment options is one of the biggest reasons why the industry grew so rapidly in India. With a population of more than 1.3 billion, India is turning into a lucrative market for gambling franchises from around the world. The low entry barrier to the Indian gambling market means any gambling site operator can start catering to players in India without having to go through complex procedures.
Gambling from home is also attractive because of the number of games that players can now access. The average gaming platform offers hundreds of games to choose from. Top sites like Comeon offer even more than that, combining unique table rules, hundreds of game variations, and a pleasant user interface to pamper players to the max.
This combination resulted in a rapid boom in market volume. India saw a rise in the size of the gambling industry, from 65 billion Indian rupees in 2019 to a whopping 91 billion Indian rupees in 2020. This trend means that India’s gambling industry will top the 200 billion rupees mark by 2021, and it will go on to account for a substantial portion of the world gambling market cap by 2025. To put these numbers in perspective, the market size in 2010 was less than 10 billion rupees.
Mobile Gambling to Boost the Market Further
Aside from access to desktop gaming platforms, players in India can also play their favourite games using mobile devices. Taking into account the high number of smartphone users in the country, mobile gambling will only make the industry more substantial in growth.
Many newer companies are making their mobile gaming platforms available from the start in an attempt to appeal to mobile players. The mobile gambling experience is just as pleasant, especially with native apps delivering smoother gameplay.
The real barrier for players is deposit and withdrawal, but industry players are taking steps to eliminate those barriers as well. Common payment gateways like credit and debit cards can be used by players in India to fund their account and withdraw their winnings.
The Appeal of Cash Prizes
The biggest factor of them all, however, is the long list of prizes and rewards that players can win. Even games like online slots can have prizes exceeding £100,000. That’s the equivalent of around 10,000,000 Indian rupees.
For certain market segments, the high cash prizes offered by online casino websites present the biggest appeal. The dream of becoming the next online casino big winner and earning millions overnight is within the grasp of many people; more so than ever before.
There have been some big winners too. In early 2020, an Indian casino player won 2 million rupees on a single spin of online slots. The story quickly went viral and aspiring players flocked to online gambling sites hoping for the same change of luck.
It’s not just the cash prizes either. Bonus offers, particularly those that double the initial bankroll of players, are just as appealing. New players can earn up to 100% deposit-match bonuses and immediately double their bankroll.
The free bonuses also come in the form of free spins. This too is very attractive for players who want to start their online gambling journey without risking any of their real money in the process. Being able to win real cash prizes for free is still a big draw.
A Changing Industry
The online gambling industry in India is sizable nonetheless, but the industry is changing. New regulations are being introduced to guarantee a good user experience for players while keeping the industry healthy for all stakeholders. Expect online gambling in India to be even bigger than it already is in the coming months.