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.