A seismic shift is underway in India’s gaming landscape, and online casinos are some of the beneficiaries of this change.
Now, factors like increasing internet access and smartphone adoption are fueling the surging interest in games of chance. However, we also can’t deny that Indians simply love gambling and have a long history with this activity.
As of last year, the country already has over 430 million online gamers, and in terms of online casino games, the local online iGaming market is projected to hit a value of over 52.50 million USD by the end of 2027 with a CAGR of 13.78%
In this article, we’ll take a closer look at how online casinos are redefining the gaming scene in India.
Online Casino Boom in India
As disposable incomes and internet connectivity rise among India’s digitally native demographics, online casinos are experiencing exponential interest. Aside from the numbers reported by Statitsa, other reports suggest India’s online casino gaming market will grow at 16% CAGR to exceed $1 billion by 2024.
Driving this boom is the rising awareness of international online casinos backed by robust technology and features catering specifically to Indian players. The thing about offshore casinos is that many of them are allowing transactions in the local currency, so more Indians are simply more comfortable in joining their platforms.
Consequently, myths around legal barriers to gaming on international online casinos are dissolving.
Luck and Chance in Casino Games
Luck plays a pivotal role in the fundamental nature of playing online casino games. To many players, the essence of wager-based gameplay is rooted in the unpredictability of the games they’re playing. That’s mostly thanks to random number generators (RNGs) that online casinos use on their games.
The allure of potentially winning money solely based on chance is also what forms the addictive appeal of casino games like online slots, roulette, and Baccarat. This stands in stark contrast to traditional Indian games of skill like Poker or Rummy which require some strategizing.
Luxury and High-Stakes Gaming
As many would notice, online casinos project an aspirational lifestyle using their ties with celebrity brand ambassadors, high-profile sporting partnerships, and advertising glamorous wins.
They also somehow serve as a temporary escapism into an elite world for mass players. Moreover, online casinos enable high-stakes gaming at levels rarely offered legally in India earlier. That too contributes to the luxurious feel of online casino gaming.
Mobile Gaming Revolution
India’s unrivaled mobile internet consumption rates have sparked a revolutionary shift in general gaming. Having the ability to access online casino games anywhere, anytime through smartphones has emerged as the primary driver of this.
Leading casino operators are capitalizing on this trend by introducing features and sometimes even promotions specifically tailored for mobile platforms. With India having more mobile users, we’ll likely see more online casino sites introduce their mobile apps in the coming years.
Legal Landscape of Online Casinos in India
Unlike land-based casinos, online casino gaming falls under a regulatory gray area in most Indian states. That is mostly because there’s no mention of online gambling in the Public Gaming Act of 1867 which oversees gambling activities in the country.
Even the Information Technology Act of 2000, despite being revised throughout the years, has no mention of online casino gaming and betting. This creates a leeway for players to access international casino sites legally.
Moreover, recent judgments by the High Courts of Bombay and Kerala against outright bans suggest a receptive judiciary for calibrating gambling legislation instead.
So, India may eventually regulate the online gambling scene just like other popular gambling countries including the United Kingdom.
However, it’s still hard to say if that’ll happen shortly. It’s worth noting that some states in India like Karnataka and Tamil Nadu are still looking into prohibiting online gambling activities.
Conclusion
In conclusion, online casinos are rapidly reshaping India’s gaming landscape by introducing elements of luck and luxury that have garnered significant attraction.
But despite the current momentum, India’s online casino craze has only scratched the surface of its disruptive potential.
With the implementation of progressive policies and responsible oversight, there is immense potential for the industry’s ascent to significantly expand entertainment opportunities for various stakeholders in and outside the country.
Still, we can say that the stage is now set for the Indian gaming scene to align with global entertainment trends, marking the inception of another Internet revolution in the making.