India has strict regulations that prohibit different gambling forms, with Sikkim, Goa, Daman and Diu being the only two states that have brick-and-mortar casinos. But there are no clearly defined laws on internet-based gambling activities in India, which allows foreign-based gambling platforms to accept Indian players. On the one hand, operators enjoy the benefit of gaining millions of customers from India, and on the other hand, Indian players get to enjoy the excitement and fun of playing at online casinos.
So, how big is the online casino industry in India? And how profitable is it to invest in the industry?
History of Online Casinos in India
After the internet went live in 1991, it didn’t take long for casinos to appear online. The concept of online casinos became a reality between 1995 and 2000, and a few of the first operators launched their platforms within this time. From here on, the online casino industry quickly picked pace and became popular all over the world.
In India, the interest in gambling gradually started to increase, and by 2010, some online casinos were already starting to accept Indian players. The past decade saw a huge growth of the online casino industry in India, as many reputed and well-established platforms began taking in Indian customers. It became more convenient for Indian players to make payments as casinos started accepting popular Indian payment systems like UPI and Paytm. With all these gradual changes today, we can witness the online casino industry growing rapidly in India.
Benefits of Investing in Online Casinos
If you want to know how massive the online casino industry is in India, just look at the numbers. A report from Statista states that the total revenue from the Indian online gaming industry in 2018 was about INR 44 billion, and the figure is expected to rise to 120 billion by 2023. This is an industry that’s growing faster than ever, and that’s the first reason why it’s a good idea to invest in online casinos.
Another factor is the huge population of internet users in India. When you’re targeting the Indian audience, you’re looking at millions of potential customers. It’s the very reason why even top platforms are focused on the Indian market. And the good thing is that it’s easier to set up a casino platform now than it was before because the technology behind casino sites, such as gaming software and payment systems, has become much more advanced.
Considering how big, high-value, and progressive the casino industry is in India and looking at the growing numbers of potential customers in the country, it’s really profitable to invest in online casinos.
How to Enter the Online Casino Industry
To enter the online casino industry, you need a proper license and a casino platform (website or software). Different licensing authorities provide casino licenses based on certain formalities, so you’ll have to get in touch with one of them. Setting up your platform can be difficult, especially if you’re not an expert at software and web development yourself.
The games and features in a casino platform are powered by advanced casino software and it’s not something you could handle all by yourself. But there is a solution for that, too, as there are many third-party gaming software solutions that can do all that for you. Such casino software services have a team of experts who can take care of every aspect of your casino platform so you can readily enjoy a finished product and not worry about the technicalities.