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Indian Online Gambling | Growing at an Exponential Rate
A Look at the Growth of Indian Online Gambling Scene
Due to their unregulated online gambling market, India is losing huge amounts of money in tax revenues each year. India has an ever-growing online gambling scene that is predicted to become one of the biggest in the world one day, and many see the government’s lack of regulations and legalization as a missed opportunity to cash in.
Calls for Legalization
India’s government have been welcoming gambling in India in recent years. However, this new attitude has not yet been translated to the laws and regulations that support the country’s gambling industry. With regards to online gambling, no updated regulations have been put forward by the Federal government as of yet, despite the fact that it has been a topic of theirs for a number of years now.
The lack of gambling laws in India have led to more disadvantages than advantages. Some might argue that online casinos are able to operate in India without intervention due to the lack of clear online casino regulations, but others argue that India is losing a lot of money because of it, so legislation should come into play.
There is a huge black market gambling scene in India, and this is another reason why the government are considering legalizing gambling. They believe that if gambling is made legal, then the black-market scene will become less of a problem for them. Indians are always going to have an urge to gamble, and if they cannot do it legally, they will find a way to do so illegally. Therefore, you could argue that if gambling is going to happen anyway, the government might as well make money from it, and this is probably their reasoning behind their thinking.
The Huge Gambling Market in India
The gambling market in India, according to a report released in 2020 by Maple Capital Advisors, is worth about $67 trillion. It is expected to grow by as much as 41% as the country begins its recovery from the Covid-19 pandemic.
Above we mentioned that the lack of regulations is costing the Indian economy a lot of money. To give you an idea as to how much the country is losing in tax revenue due to the lack of online gambling regulations, it has been estimated that they lost 10 billion rupees in 2020. It is estimated that in 2021 they will lose 14.2 billion rupees and in 2024 this will increase to a staggering 40 billion rupees. This is all extra money that could be used on healthcare services and better infrastructure.
The projections above are based on a tax rate of 15%. If the Indian government pursues online regulation and increases taxes to around 30%, then by 2024 the country could generate 80 billion rupees in gambling revenue.
What is Fueling This Online Gaming Boom?
There are a handful of factors that have driven the gaming boom in India. In 2016, it was estimated that India had around 120 million online gamblers. Since then, this number has tripled, and it can be put down to factors such as mobile gaming. Smartphones are becoming more and more affordable for those in India and more Indians have access to the Internet now than ever before, and this has definitely played a large part in the online gaming boom.
The aforementioned lack of online gambling legislation is another factor that has helped this boom. Unlike in Europe or some other jurisdictions, the laws make no mention of online gaming. This is not surprising since the Indian government are still using regulations that were put in place when the British had control of India. This lack of regulation has led to hundreds of online casinos outside of India offering their services to Indian gamblers. At the time of writing, Indian gamblers are permitted to play at international online casinos that are fully licensed.
Another factor that has contributed to the online gaming boom in India is that new digital payment options have been introduced. Systems such as UPI and IMPS allow Indian gamblers to deposit and withdraw money easily. When players can fund their accounts in seconds, it stands to reason that it would help the gambling industry to boom.
When you combine all of the above, it is clear that the online casino India craze will be sticking around for a long time. Indian-targeted online casino content is on the rise too as those in the industry know how much revenue they can make from online gambling scene in India. Over the next decade, it is estimated that the gambling market in India could show a 400% rise.
One of the Latest Online Casinos Available to Indians
One online casino that has jumped on the Indian online gambling bandwagon is Pure Casino. This online casino came into existence at the end of 2019, which means that it is a relatively new one. However, despite their newness, they have shown that they have what it takes to stick around in the competitive world of online gambling. This online casino was developed with Indian players in mind, meaning that they accept rupees as one of their main currencies and as well as providing favourite Indian games such as Teen Patti and Andar Bahar.
Since Pure Casino caters specifically to Indians, it will come as no surprise to find out that they have put in the effort to develop a very good mobile app. As we mentioned above, Indians love mobile gaming and they use their mobiles for gambling far more than they use desktop devices. Therefore, if an online casino wants to be a hit in India, they need to have an appealing mobile app that is compatible with Android and iOS devices. Thanks to this app, Pure Casino players can enjoy all their favourite games wherever they happen to be.
The payment options available are very important when it comes to deposits and withdrawals in India. Some online casinos that accept Indians can be a bit lacking when it comes to payment options, but since Pure Casino was designed especially for Indians, it has all the best payment methods that Indian casino players will be looking for. The following payment options are:
- VISA
- Bank transfer
- EcoPayz,
- Skrill
- Astropay
- CryptoPay
- ECOBANQ
The minimum deposit that you can make stands at 1,000 Indian rupees, while the maximum deposit stands at 10,000,000 Indian rupees. The deposits are instant, meaning you can start playing right away. With regards to withdrawals, the process can take up to three days, which is nothing unusual.
If you are in India and you want a great mobile gambling experience and are looking for an online casino that caters to all the needs of Indian casino players, you need look no further. When it comes to Indian dedicated casinos, they do not come much better than Pure Casino.
Gambling in the USA
BetConstruct to Display Its Products and Services at Sigma Americas
BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.
Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.
BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.
Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.
Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.
Latest News
Strategic Deal: Expanse Studios Seals Media Partnership with Geek Spins
Expanse Studios is proud to announce its strategic partnership with Geek Spins, a leading platform dedicated to providing comprehensive and reliable information about online gambling. This collaboration marks a significant milestone in Expanse Studios’ commitment to enhancing the gaming experience for players worldwide. By joining forces with this renowned media platform, Expanse Studios aims to revolutionize the way players engage with online casinos and slot machines, offering unparalleled access to the latest and most reliable gaming content.
About Geek Spins
Geek Spins was founded in 2018 by a passionate group of enthusiasts with a singular goal: to provide players with accurate and up-to-date information about online gambling. Since its inception, Geek Spins has expanded its team significantly and has become a trusted source for players seeking the best gaming experiences. With over 500 reviews of top online casinos, 1500 slot machines, 2000 bonuses, and content from over 100 providers and payment systems, Geek Spins continues to set the standard for excellence in the online gambling industry.
Expanse Studios’ Vision
At Expanse Studios, we believe in pushing the boundaries of innovation to deliver exceptional gaming experiences to players worldwide. Our collaboration with Geek Spins aligns with our vision of providing players with access to the latest and most reliable gaming content. By leveraging their extensive database and expertise, we aim to empower players to make informed decisions about their online gambling activities and elevate the overall gaming experience.
Synergy and Added Value
The partnership between Expanse Studios and Geek Spins brings together two industry leaders with a shared commitment to excellence. By combining Expanse Studios’ cutting-edge technology and game development expertise with Geek Spins’ comprehensive database and industry knowledge, we are able to deliver unparalleled value to players. Together, we will work tirelessly to enhance the online gambling experience, providing players with access to the latest games, reviews, and bonuses.
Why It Matters
This collaboration is significant for both Expanse Studios and Geek Spins, as it represents a shared commitment to innovation and excellence in the online gambling industry. By joining forces, we have the opportunity to reach a wider audience of players and provide them with the best possible gaming experiences. This partnership also underscores our dedication to transparency, reliability, and player satisfaction, ensuring that players have access to the information they need to make informed decisions about their online gambling activities.
Damjan Stamenkovic, CEO of Expanse Studios, commented on the collaboration, saying, “We are thrilled to partner with Geek Spins to enhance the online gambling experience for players worldwide. This collaboration represents a significant step forward for both companies and underscores our commitment to delivering exceptional gaming content to our players.”
The post Strategic Deal: Expanse Studios Seals Media Partnership with Geek Spins appeared first on European Gaming Industry News.
Compliance Updates
GoldenRace is now certified in the Netherlands
GoldenRace, global provider of award-winning Virtual Sports and betting solutions, has recently obtained a certification for its highly acclaimed Virtual Sports and Games in the Dutch market.
GoldenRace successfully navigated the stringent regulatory landscape of the Netherlands, and now will be providing its impressive betting products into the Online Dutch market, which will be an important advancement in our operational expansion.
The Netherlands betting scene is on the cusp of a substantial growth phase and with GoldenRace’s latest certification, we introduce to the Dutch market a range of highly popular games tailored to desktop and mobile, in both scheduled and on-demand modes.
Among the offer, players will enjoy our most-played Virtual Football line-up – including Football Single, Leagues, World Cup and Euro Champions-, adrenaline-pumping 3×3 Basketball and MMA and top-notch races as Horse Racing, Greyhound Racing and Grand Prix Indianapolis 60. Last but not least, our Number Games, such as Spin2Win. All ready to captivate Dutch players.
The post GoldenRace is now certified in the Netherlands appeared first on European Gaming Industry News.
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