The iGaming industry is always on the move. This market, which has previously been dominated by a large number of online casinos under a small selection of gaming licences, of which the Malta Gaming Authority has been one of the leaders, has in recent years faced significant competition. This due to the fact that, more and more, especially European countries, have implemented or are well on their way to achieving their gaming licences.
Meanwhile, the Indian iGaming market has kept on growing and was in 2019 estimated to be worth around 62 billion Indian rupees or about €750 million. The very same number is expected to exceed 250 billion Indian rupees in 10 years. This is mainly due to the increasing internet access that is spreading through the country. Also, other technological advantages contribute to the increase.
Land-based regulations in place
The Indian gaming market is heavily regulated when it comes to land-based gambling but has no real regulations for online gambling. The lack of regulation is one of the reasons that it hasn’t been a sought-after marketing by MGA casinos. Because of this, many casinos did not even accept Indian players and even less made any effort to market themselves to Indian players.
Another reason has been limited access to the internet and mobile devices for the Indian population. The situation is, however, very different today than a few years ago. The amount of internet users in India has enjoyed a growth of about 18 per cent each year in recent years. By the end of 2020, the number of internet users in the country is expected to reach 730 million.
Recently, partly because of the change in gaming licences within the European market, online casinos have started to look for new markets to break into and aimed several marketing efforts towards the now more open Indian market. As a result, Indian players have a wide selection of online casinos with an MGA licence to play on and a high number of casino games to choose from, which in itself attracts even more players.
Indian gaming market potential
The significant potential of the Indian gaming market, together with the pure size of it and the lack of its gaming license makes this an excellent opportunity for the casinos operating under MGA licence to put less effort in complicated markets such as the Polish and Swedish markets and more energy in the promising Indian market.
If everything continues in the same direction as it is doing right now, we can expect online casinos to have great success in India in the future. How big online casinos will grow within India is hard to say, but it is safe to say that the Indian gaming industry will benefit online casinos with MGA licence greatly.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/