The Indian gambling market has witnessed significant growth over the years, especially over the last couple of years. As a result, India is now a favorite destination among the offshore casinos to extend their business that offers special promotions and bonuses.
The Indian online gambling market statistics show that India is expected to grow into a 250 billion dollar gambling industry in the upcoming decade. However, gambling is not something new to the country.
The history of gambling in India can be traced way back to the 7300 BC where gambling was mainly done in the form of sports. However, with the evolution of civilization, the game evolved too.
By the 15th century, many gambling houses started popping up and have grown increasingly popular and sophisticated. Finally, the places were properly regulated and came under legal jurisdictions.
The games were monitored closely, and great efforts were made to ensure fair play. Players were taxed on winning, and the tax was sent directly to the kings.
By the 18th century, as cricket and football gained a foothold in India, gambling grew notorious and was soon banned under the Gambling Act of 1867.
Current Scenario of Gambling in India
Currently, with the advancement of technology, casinos have turned online too. With 748 million smartphone users in India, it is one of the most lucrative markets for online casino bookmakers.
Another factor that propelled the expansion of the gambling market in India is the young population.
The rules and regulations surrounding the online gambling market in India are complex as the country has 27 autonomous states. This means the legal procedures of the online gambling industry vary from one state to another.
In India, the gambling industry is monitored on a state and national level. The regulation of the online gambling market can be outlined on three pieces of legislation, that are:
- The Public Gambling Act of 1867,
- The Prize Competition Act of 1955, and
- The Information Technology Act of 2000
As the date suggests, the laws were made before the inception of online gambling in India. Currently, the online gambling market falls under the loophole of the law even though gambling is banned in India, except Sikkim and Goa.
Why is the Indian online casino market growing?
Since there is no law surrounding online gambling in India, it has become an easy and fun way to make money. The four main reasons why online casinos are so popular in India are:
Convenience
Only casinos are now the most convenient way to gamble. Regardless of your location and time, you can start playing online casinos. All you need is a smart device that is compatible with the internet.
If you have both, you can visit an online bookmaker’s website, open a free account, and start playing casinos from anywhere and anytime. Moreover, since there are no geographical boundaries, you are free to visit websites based abroad in India to win even bigger prizes.
Easy Payments
Another crucial element in the growth of online gambling in India is easy payment. Indian players have always faced a hard time playing anything online because of the limited payment option.
However, the online casinos have ruled out the payment limitation. Most online casino websites have a wide range of payment options and accept Indian currency, which makes it easier for the players to play.
The websites of the reputed online casinos are also secured with SSL, which ensures that whatever payment details you are using on the page are encrypted.
Bonuses and Promotions
The online casino brands have ensured that their players are entertained and hooked on their websites. They spoil the players with bonuses in every step and lucrative daily promotions. It makes it an exciting opportunity for the players to win more than they lose.
Endless Gaming Options
Unlike offline casinos, there are endless options to choose from for the players when it comes to online casinos. In addition, most casino websites have different varieties for the same game types, which makes it exciting for the players.
Constant Growth
The Indian gambling market is thriving with opportunities, and it is going to get better in the upcoming years. Be it in terms of security, games, or bonuses, and it will get better. More platforms and themes will emerge to make the experience of gambling one-of-a-kind.
