Gambling has been widely popular throughout history let’s have a look at what the future of online gambling might hold. Whether you’re talking poker, blackjack, or any other game, you’ll have numerous people ready to play and gamble at a moment’s notice. It’s human nature to feel excited when taking risks, and there’s no risk greater than the one involved in gambling games. You’re going against the odds, hoping that your luck pays off. When you win, you feel the euphoria surging through your body.
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Gambling in India and Future of Online Gambling
As technology has advanced, new forms of gambling have opened up for the masses. Gambling has gone from back alleys and casinos to an online medium. People have taken to online gambling ducks to water. After all, nothing’s more appealing than being able to gamble on your favorite games from the comfort of your home.
India has a storied history with gambling. However, it’s also home to one of the largest online gambling populations in the world. Research shows that approximately 40 percent of all internet users in India gamble. Moreover, experts forecast India to leapfrog the United Kingdom for gamblers per capita.
The Growth of Online Gambling
Several reasons exist behind why online gambling has become so widespread in India. For starters, India’s successfully managed to supply mobile internet to most of its population. Statistics show that India was home to 749 million users in 2020. Over 744 million of them used their mobile phones to access the internet.
In addition, you also have to consider that India’s a highly decentralized country. Each state has separate rules and regulations for gambling. As a result, some states permit land-based casinos to operate, while others restrict operations. Most of these regulations stem from The Public Gambling Act of 1867. However, the issue is that it has created confusion among the general populace, leading many to flock in droves towards online gambling as their only resort.
However, this leads to a crucial question.
What’s in store for the future of online gambling in India?
The Future of Online Gambling in India
The COVID-19 global pandemic had a significant impact worldwide. As countries shut down because governments instituted lockdowns, various industries suffered. Sectors like retail, transportation, and tourism all suffered. Likewise, land-based casinos experienced a similar fate. As people found themselves confined to their homes, they resorted to digital entertainment. While most businesses experienced significant losses and revenue declines during the pandemic, the online gambling industry blossomed. The Indian populace found themselves playing mobile games and betting online. As a result, the number of online Indian gamblers grew. However, more importantly, more people started to get a taste of how enjoyable online gambling could be.
Depending on who you ask, you’ll receive varying responses about the future of online gambling in India. However, the reality’s more nuanced. Let’s take a look at some of the factors propelling the growth of online gambling in India. They include:
India has one of the most prosperous IT development industries globally. It’s also home to some of the world’s top gaming studios. More and more gaming studios are now adapting local games and pushing them to the global stage. In the past few years, game developers have created mobile iterations of various Indian gambling games. These include local favorites like Teen Patti, Jhandi Munda, and Andar Bahar. As a result, you’ll find many of the top-rated online casinos in India offering these games. Players now no longer have to contend with playing poker or blackjack. They can play the games they grew up playing with their friends online.
Another factor contributing to the rise of the online gambling industry in India is the technological advancements the country has made in the past few decades. According to statistics, approximately 748 million Indians held access to a smartphone in 2020. Moreover, those who don’t have smartphones still have access to feature phones. Although feature phones lack the sophistication of smartphones, they’re still capable of accessing the internet.
However, the staggering thing to notice here is that India is converting an increasing percentage of people into smartphone users. Experts project that by 2030, India will manage to equip nearly 1.3 billion people with smartphones. Naturally, as more people get access to smartphones, they’ll shift their attention to online gambling. Therefore, nothing’s going to stop the online gambling industry in India from continuing to boom.
Regulation Revenue In The Future of Online Gambling
The online gambling industry in India is currently unregulated. Most online companies hold licenses under the Malta Gaming Authority or the Curacao Gambling Commission. While they can still operate in India, it comes at a cost to the Indian government. Research shows India loses approximately $140 million annually because they haven’t regulated their online casino market. The government will likely try to monetize the online casino industry as a revenue stream by regulating it soon.
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