Online casinos in India are relatively novel, but the industry has been on the move in the last few years, accelerating rapidly to become one of the fastest-growing casino markets in the world.
Several factors have contributed to this recent boom in the online casino industry in India. There is of course the massive population, which sets the foundation for the expansion, but the major catalyst has been the sharp improvement in technology in the country.
India has undergone a digital revolution over the last decade, rising to become one of the most tech-savvy countries in the world. The number of smartphone users in India is projected to cross the 400 million-mark in 2020, a figure that towers over the entire population of many nations. In 2019 alone, India shipped a record 46.6 million smartphones, while over 600 million people are said to be connected to the internet.
The digital revolution in India has also covered the payment systems, as online transactions are now a breeze in the country. The National Payment Corporation of India pulled off a masterstroke by introducing the Unified Payments Interface (UPI), allowing Indians to send and receive money, and make payments directly from their bank accounts without any troubles at all.
The UPI has ushered in excellent payment platforms like PhonePe, Google Pay and PayTM, all of which have made our financial transactions very easy.
India is becoming a major player in the global online casino industry
With a great number of people now owning smartphones, having access to affordable internet and being able to use convenient payment systems, online businesses are booming, and casinos have been amongst the biggest beneficiaries. The online casino industry in India was estimated to be worth 62 billion Indian Rupees in 2019, and that figure is expected to shoot above 250 billion Rupees in the next ten years.
According to Mycasino.in, a website that ranks and reviews online casino sites in India, international casinos like LeoVegas have clearly targeted the Indian market, while newer casinos like Pure Casino and Genesis Casino have been established to exclusively cater for India, rendering services that make their sites super convenient for players.
The online gambling industry in India remains unregulated. Land-based casinos are prohibited in most states in India, but there is nothing concrete on online casinos. From a legal perspective, online gambling in the country is neither here nor there, allowing offshore companies to pretty much operate without any restrictions or regulations.
This is something the government may want to act on as quickly as possible. The legalization, regulation and taxation of online gambling will not only generate some decent revenue for the country, but also protect players from exploitation and gambling malpractices.
How online casinos are improving their services in India
Mobile casinos
Given the increasing rate of mobile phone users in India, online casinos are expanding their mobile offerings, allowing players to carry out different casino operations on their mobile devices. The players in India are mostly from the tech-savvy younger generation, most of whom are always busy and often on the move.
Hence, to keep pace with their customers and capture new users, casinos have had to design smooth, easy-to-use and multi-functional apps and mobile sites. Players do not only get to play games on mobile; they can also deposit money, withdraw winnings and perform many other functions.
Easier payment methods
Depositing money into gambling sites has been a major problem for Indian players in the past, with some of the banks not willing to process payments. However, things are looking brighter now.
Most online casinos now allow different payment methods, including e-Wallets like Neteller, Skrill and MuchBetter, and prepaid cards like AstroPay and EcoPayz. By using these alternative deposit methods, players can deposit money into their casino accounts without going through the banks.
Another great thing about payments into online casinos in India is that casinos now accept Indian Rupees. All the top casinos in India allow Rupee transactions, making payments very easy for players, who no longer have to worry about exchange or currency conversion rates.
Great collection of casino games
Casino games are the primary offerings of casinos. The increasing competition among operators has naturally led to a rise in the quality of casino games being offered.
Most online casinos are now loaded with high quality modern games, giving players a variety of options to choose from. An average casino has over 1000 slot games, and a host of table games like blackjack, roulette and baccarat. Popular Indian games like Andar Bahar and Teen Patti have also made their way into many operators’ portfolios for players who want to keep it local.
Online casinos have definitely come to stay in India, and many more companies will join the party in the coming years. The bar has been raised so high by the existing casinos, leaving new entrants with plenty of work to do if they are to gain any foothold in an increasingly competitive market.
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