For years India’s casino industry has been slow to develop compared to the pace of its international contemporaries, due largely to strict gambling laws. However, the proliferation of offshore casinos able to get around local laws as well as the industry’s potential to generate tax revenue has seen the steady relaxation of national gambling policies in India. In India online gambling games have been a big hit, with locals flocking to virtual casino websites. As a result, the gambling demographic in India has grown significant enough to catch the eye of international markets.
Europe has long dominated the global casino industry and remains among the most competitive in the world. In an effort to expand their reach, many companies have been looking East, with a particular interest in India. For years, the country remained a mostly untapped market by the global gambling industry because of a long list of prohibitions. However, the advent of online gambling has opened many doors for players and operators alike.
Why do European companies see potential in India?
More and more Indians gain access to the Internet every day, with an estimated 500 million Internet users at this moment. While there are laws that prohibit gambling in the country, these old laws were not made with the possibility of online gambling in mind, and thus do not accommodate or address the dynamic of offshore gambling companies. This is why so many Indian gamblers can still place bets with online bookmakers and play games at online casinos based far from Indian shores.
Technology in India is also steadily improving, which is why the country in recent years has experienced an influx of foreign investment for its gaming demographic. The value of the current Indian gaming and gambling market is at 930 million dollars. Experts project that the market will increase by 41 percent per year. By the end of 2020, they expect that the market for games to be worth over 1.1 billion dollars, with a total of 630 million online gamblers in India.
The number of gamers in India is expected to rise as well, with analysts speculating that by 2021, more than 55% of India’s population will be Internet users. It is important to note here that India has one of the biggest populations in the world. The online gaming market for India in 2021 is projected to be worth 3.3 billion. With these numbers in mind, it’s no surprise that some European casino companies are getting a head start on bringing their business abroad. They are also likely to be met with enthusiasm, as Indians are known for their gambling passion. Aside from casino favorites, Indian love for sports such as cricket generates immense potential for the sports betting market.
What can European businesses offer Indian players?
While most of India’s local casinos offer small, still developing services, those in Europe that have been in the game for a long time have grown into market giants. European casinos often offer over a thousand games to their visitors. Variety is a key factor in enticing players to register at an online casino, as it suits the tastes and gambling styles of a wide range of people.
Interest in India has been made clear through the development of games that cater specifically to Indian culture. For example, more and more software developers are creating games based on classic Indian games such as Andar Bahar and Teen Patti, which European operators have also begun placing in their game selection libraries. Many online casinos and book makers also have begun accepting Indian currency for online transactions and provide Hindi as a language option for viewing their site.
European casino innovation is definitely going to shake things up in the market, and offering Indian players the latest global trends in gambling is only the tip of the iceberg. Now that the existing gambling market faces international competition, it’s going to be a race towards who can provide the best experience possible to draw in players. Indian gamblers can expect better games, better deals, and better service.