India Online Gambling Market Overview, 2028

India Online Gambling Market Overview, 2028

The online gambling industry in India is rapidly expanding, with new operators showing an interest in Indian players. The betting sites and sports betting firms operate within the murky confines of Indian gaming law. Horse racing and lotteries are the only two legal forms of gambling in India. If gambling regulations in India were simplified, it could become a hub for large online casino providers. There are two more reasons why online betting is becoming more popular. First, India's middle class is growing steadily, and second, cross-country internet infrastructure is improving and becoming more accessible on a daily basis. Indians' favourite games include Andar Bahar and Teen Patti. These are popularly played at live online casinos that provide an authentic gambling experience. They come with real expert dealers and glitzy studios. Another popular game is Indian Rummy, which is much more difficult to find in foreign casinos than the previous two. The majority of players prefer slots. Then there's baccarat, which is a casino staple. This card game is quite popular in Asia. In India, the growing popularity of smartphones and other mobile devices has also contributed to the growth of online gambling. Many online gambling platforms now provide mobile apps, making it easier for users to access and gamble while on the go. Many people in India find online gambling to be a source of entertainment and excitement. For some, it is a means of passing the time or escaping from daily life.

According to the research report, “India Online Gambling Market Overview, 2028” published by Bonafide Research, the market is expected to grow at more than 29% CAGR from 2023 to 2028. At this point, fantasy sports in India are self-sufficient. Fantasy leagues have grown in popularity in India, gaining widespread exposure not only online but also through other forms of media and entertainment. The Dream11 fantasy sports platform is the first gaming unicorn, and the fact that it is the title sponsor of the IPL lends credence to the idea of a business that has exploded in the last few years alone. In 2018, only a few years after the genre's inception, over 40 million Indians were reportedly playing fantasy cricket, kabaddi, football, or basketball. Dream11 was and continues to be the market leader. Football, tennis, and horse racing are also popular sports for online betting in India. Online casinos, in addition to sports betting, are becoming increasingly popular in India, with users able to play a wide range of casino games such as slots, poker, and blackjack.

Based on gaming type, the market is segmented into sports betting, casinos, poker, bingo, lottery and others. Among them the market is mostly dominated by sports betting and it is expected to dominate during the forecast period as well. In India, sports, particularly cricket, are extremely popular. As a result, many people are naturally drawn to sports betting as a means of participating in their favourite sports and teams. Football is also a popular sports betting sport in India. Many online betting sites provide a wide range of football betting options, including betting on individual players, tournaments, and matches. Tennis is another popular online sports betting sport in India. Bets on major tennis tournaments such as Wimbledon, the US Open, and the Australian Open are available to users.
The market is divided into mobile devices (phones and tablets) and desktop devices. Mobile devices, such as smartphones and tablets, are the most commonly used devices for online gambling in India. People can now access online gambling services from anywhere and at any time thanks to the popularity of mobile devices. Indeed, many online gambling operators in India have developed mobile apps specifically for mobile devices, allowing users to have a convenient and user-friendly gambling experience while on the go. The widespread use of mobile devices has aided the growth of India's online gambling market significantly.

Recent Developments:
• Dream11: Dream11 is a fantasy sports platform that has become extremely popular in India. In 2020, it became the first gaming company in India to achieve ""unicorn"" status, with a valuation of over $1 billion.
• Paytm First Games: Paytm First Games is an online gaming platform owned by Paytm, one of India's largest digital payments companies. In 2021, the company announced that it had raised $20 million in funding to expand its operations.
• MPL: Mobile Premier League (MPL) is a mobile gaming platform that offers a variety of games, including fantasy sports, rummy, and poker. In 2020, the company raised $90 million in funding, making it one of the most well-funded gaming startups in India.
• Nazara Technologies: Nazara Technologies is a mobile gaming company that offers a wide range of games, including sports and casual games. In 2021, the company went public, becoming the first Indian gaming company to do so.

Start-ups:
• FanFight: FanFight is a fantasy sports platform that allows users to play daily fantasy sports games for cricket, football, basketball, and other sports. The startup has raised $1 million in funding to date and has over 6 million registered users.
• 9stacks: 9stacks is an online poker platform that allows users to play real money games of poker. The startup has raised over $5 million in funding to date and has over 2 lakh registered users.
• BalleBaazi: BalleBaazi is a fantasy sports platform that focuses on cricket. The startup has raised over $4 million in funding to date and has over 4 million registered users.
• MyTeam11: MyTeam11 is a fantasy sports platform that allows users to play daily fantasy sports games for cricket, football, basketball, and other sports. The startup has raised over $2 million in funding to date and has over 15 million registered users.
• PokerBaazi: PokerBaazi is an online poker platform that allows users to play real money games of poker. The startup has raised over $5 million in funding to date and has over 2 lakh registered users.

Considered in this report
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• India Online Gambling market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Game Type:
• Sports Betting
• Casinos
• Poker
• Bingo
• Lottery
• Others

By Distribution Channel:
• Mobile Devices (Phones and Tablets)
• Desktop

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Online Gambling industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.