Indian Online Casino Market Review
Previously, we explored the key considerations for developing casino apps tailored for the Indian market. Now, we will take a closer look at the Indian online casino market review. Explore the exciting and rapidly growing Indian online casino market, where expanding possibilities and changing trends in online gambling entertainment coexist with legal ambiguities…
It is estimated that the Indian online casino market, which is growing rapidly, will generate revenues of $0.93 billion by 2024. Several factors are contributing to this growth, such as the increasing use of smartphones and internet connectivity as well as the rising level of disposable income in India.
However, the legal status of online gambling in India is still unclear. A central law that prohibits gambling in any form except horse racing and lotteries does not specifically target online gambling. The online casino market thus operates in a gray area.
Despite the legal ambiguity, there are many online casino operators offering services to Indian gamers. Typically, these operators are based overseas, in countries where gaming regulations are weak. Virtual private networks (VPNs) and other technologies are available for Indian players to access these online casinos.
Indian Online Casino Market Size and Growth
It is estimated that the Indian online casino market will generate revenues of $0.93 billion by 2024. Revenue is expected to grow at a compound annual growth rate (CAGR) of 5.05% by the year 2029, reaching a market volume of $1.19 billion. It is projected that by 2029, the online casino market will have 0.00 users. User penetration is expected to reach 0.00 by 2024 and 0.00 by 2029.
Additionally, it is projected that the average revenue per user (ARPU) will be zero. When compared globally, the United Kingdom will generate the most revenue ($6,468.00 million in 2024). The online casino market has the highest user penetration, with a projected rate of zero.
Gambling Laws in India: Central vs State Regulations
Gambling laws in India are the result of complex interactions between central and state regulations. Public gambling establishments are prohibited under the central Public Gambling Act of 1867, although “games of skill” are exempt from this law. Each state has to pass its own gambling law. With the exception of lotteries and horse racing, most states prohibit gambling, but some states, such as Goa and Sikkim allow casinos.
Major Players in the Online Casino Market in India
In India, the legal status regarding online casinos is ambiguous. Nevertheless, many foreign casino operators offer services to players from India. Following are some of the major players in the Indian online casino market:
- Casino Tropez
- Royal Panda
- Joya Casino
- Genesis Casino
- Betkwiff casino
Popular Casino Games and Trends in India
The casino market in India offers a unique blend of international favourites and local games. Apart from the popular classic casino games like poker, blackjack, and roulette; teen patti, andar bahar, and rummy are also popular among Indian players. These games are particularly popular in the live dealer versions, which let users enjoy the thrill of a real casino right from their homes.
Marketing Strategies for Online Casinos in India
Influencer Marketing
Influencer marketing is the process of leveraging well-known social media users, also known as influencers, to promote your product. This is usually done by getting them to write a nice product review or something similar. With over 750 million social media users in India (this figure has tripled since 2018), influencer marketing has a lot of potential there.
Furthermore, India has 180 million Instagram users, making it by far the biggest Instagram nation globally. This means there is a huge audience of potential Instagram users who are eager to learn about your fantastic online casino.
One drawback of influencer marketing is that it requires extensive research. If you choose the wrong influencer, you risk getting a low return on investment because their fan base includes the people most likely to visit your online casino. This means you can refine your approach, target demographics, and spend a lot of money on influencers for some time without seeing a significant return.
Affiliate Marketing
In a new market like India, affiliate marketing is the safest and most effective strategy to promote your online casino brand. You can start recruiting new gamers in a very cost-effective way using affiliate marketing. Partnering with an affiliate partner often involves featuring you on your website, which will allow visitors looking for the best online casino sites to locate your site and register as a player.
When you use affiliate marketing partners, you essentially don’t have to pay anything upfront to be accepted on the affiliate site. You simply have to enter into a revenue sharing agreement with the affiliate, outlining how much you will pay them for each dollar spent by a referred player at your casino.
One disadvantage of using affiliate marketing is that you do not control the players. As long as the referred player plays at your casino, you and the affiliate partner will have to split the income.
If your only source of players is your affiliate partners, you become very dependent on them to provide results; and if you and they cannot agree, they have the right to stop your stream of players at any time.
However, the good thing about affiliate marketing is that you only have to pay for the players you get. Usually, a player can start spending money at your casino without you having to pay a single penny before they make a deposit. Because of this, starting an affiliate program is the most economical way to attract new players.
Both of these marketing strategies will be effective in promoting the brand and achieving success for online casinos in India.
Final Word
The Indian online casino market is complex and rapidly evolving, with legal ambiguities surrounding online gambling. Despite this, the market is expanding rapidly. Potential benefits associated with the online casino market include convenience, entertainment, and potential financial gain. However, there are also significant risks, such as addiction, financial loss, and security concerns.
It is important to weigh these factors carefully before participating in online casinos in order to make informed-decisions and protect personal wellbeing. Understanding the legal landscape and ensuring participation in regulated platforms can help mitigate some of these risks.
