Before we give you an in-depth analysis of the future of the online gambling industry in India, let’s first talk about the recent report from Statista on the Indian mobile market, as it is something that is deeply connected to the gaming industry too.
So, the report clearly states that India has seen a tremendous growth in the last few years. Due to the new mobile revolution, the gaming market particularly, is undergoing an enormous evolution.
Moreover, some of the huge investments from giant technology players like Tencent, Alibaba, Youzu, and Nazara has led to a swift development for online gaming in India.
Recent stats to make a note of:
- The market value of the Indian gaming industry is about 62 billion INR in 2019 and is projected to increase more than 250 billion INR by the year 2025. This is largely driven by online cricket betting, lotto and casino.
- The number of new job opportunities in India, catering to the gaming industry is also a clear sign of the continuous evolution in this market.
- The estimated number of employees in the gaming market would be 40,000 by the year 2022.
Besides the key stats mentioned above, let’s also not forget the fact that India is a country with the world’s biggest youth population. This is one of the major reasons why it is embracing the younger generation’s interests in entertainment and digital sports much better than others.
Approximately 66% of the hardcore gamers and 55% of casual gamers throughout India are below 24 years but these stats were as of 2016. It’s going to be 2020 now, and you can imagine the percentage now.
Of these, hardcore gamers prefer to use only smartphones as gaming devices rather than laptops or desktops. No wonder big and reputed operators like Genesis Casino saw a huge incline in their recent Indian sign-ups.
Due to the affordability, availability, and development of smartphones, mobile gaming in India is growing at an unbelievable rate. Mobile gaming in India alone will hold a market share of about 405 million USD by 2022.
In addition, the number of mobile phone gamers are estimated to grow to an estimated 628 million in 2020.Riding the Boom
The increasing traction of online gambling market in India is due to 2 major aspects:
As far as the standards of other developed nations are considered, both these factors tend to remain comparatively small, however, are rapidly growing. Estimates differ, but India is said to have surpassed the 100-million internet user spot way early in 2010 or 2011, which is somewhat less than its 10% of the population.
Even when compared to other new industrialized countries like China (34.3%), this number is still low. When compared with the US (79%), Germany (81.85%), UK (85%), and Japan (80%), it is evident that the internet has an extensive way to go forward in India.
Console gaming and computer have played a crucial part in shaping the gaming industry in India in the recent years.
Happily, things are changing and that too really fast. And experts believe that cricket mobile games and sports betting variations will drive the online gambling growth in the coming years.
Overall, there is a big potential of gambling market in India. The country already tops in the number of mobile gaming downloads. So, it all comes down to how gaming companies will figure things out to monetize effectively for an immense group of gamers.