The Internet has been a phenomenon in the last twenty years and it has changed our world almost completely. Our world will never be the same again. Almost all aspects of life cannot escape the influence of the Internet, one of which is gambling.
Today, online gambling occupies the largest proportion of total gambling turnover globally. There is hardly a country that is untouched by online gambling. India, as the country with the largest population in the world, is a very large market. It can be said to be a giant market where millions of people gather who like betting.
In recent years India has witnessed a surge in popularity of online casinos especially those focused on betting on cricket games. This surge is supported by technological advances, a shift in the mindset of the younger generation, and the popularity of cricket as a major sport in the country.
The global online gambling market is worth billions of dollars and surprisingly, in the last five years, India has been in the top five contributing countries. Why? Is it simply because of the large population?
Increased comfort
Convenience is one of the important factors in the increasing popularity of online casinos in India. This is closely related to the ease of playing on any device, especially mobile devices. Most Indians own smartphones but only a small fraction of them own desktop computers.
Of course, it is a must for online casinos to facilitate players to be able to play their favorite games on their smartphone screens. The ease and comfort of playing on a mobile screen is hard to match with other games. A player can play at any time on the best cricket betting app in India, for example when he is waiting for the train or relaxing for example. There are almost no limits.
Development of digital technology
Digital technology is the backbone of any online casino. Today online casinos look a little different than they did ten years ago. There are many innovations, one of which is the ability to interact with real dealers. And it happens in real time! Overall, the player experience has improved tremendously and the improvements don’t seem to be stopping.
The availability of secure payment gateways ensures that potential players’ worries are significantly reduced. Reduced worry means increased trust and in any business world, increased trust in potential customers is an indication of business progress.
Changes in attitudes toward viewing gambling
Gambling is almost always considered bad by many cultures including Indian culture. However, there is a change in attitude in viewing gambling in many countries including India. It cannot be denied that gambling is a huge industry and employs so many people. Many people depend on gambling and the economic cycle flows rapidly there.
The massive onslaught of online casinos and the increasing number of players involved seem to be contributing to a change in the attitude of the general public in viewing.
The face of online casinos tends to be more positive in many countries including India. It seems that more and more people are equating online gambling with a form of online entertainment. That’s not wrong but with a few caveats.
Legal aspects
Legal factors are always determining when we talk about legality and security when gambling online. In India, all forms of gambling are regulated by the General Gambling Act which was issued almost 150 years ago.
In essence, it prohibits anyone from running a gambling house. However, it is an archaic law that is no longer relevant when faced with online gambling. In some states like Goa and Sikkim, some forms of gambling have been legalized but online gambling is still difficult to define. Each state has different policies regarding online gambling.
Positive impact
It cannot be denied, that online gambling has a significant economic impact on a country if it is legalized. There is a lot of income that comes in as taxes and don’t forget employment. India is experiencing an employment crisis where the number of jobs is not proportional to the number of job applicants.
Legalizing gambling, especially online gambling, can ease the burden on the country. There is a KPMG report that states that the Indian online gaming industry will generate revenues of up to INR 11,900 crore by the end of 2024.
When the legalization of land-based casinos comes into effect, it is estimated that the valuation of the Indian gambling market will reach more than 30 million dollars in just the next few years, and casinos’ land means increased tourism.
After all, India is the country with the largest population in the world and it is clear that this country is a giant market for any industry, including the gambling industry.
If the Indian government is really serious about working on the legality and development of the Indian gambling industry, of course, it will set a good precedent for the country. And of course, it will all be pushed first by online casinos as a game changer!
