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Why are Indians so fond of iGaming activities and what does its future look like? We’ll have a look at all that in this article.
Klynveld Peak Marwick Goerdeler (KPMG) reported that India is now home to 420 million online gamers. This info makes the country the second-largest online gaming market worldwide.
Meanwhile, Statista reports that India’s iGaming market is expected to reach a value of over 7.5 billion USD by the end of this year with a 12.05% CAGR from 2023-27. With that, the industry is projected to be valued at over 12 billion USD by 2027.
All these numbers show how popular iGaming has been in the country over the last few years. But why is this the case? Why are Indians so fond of iGaming activities and what does its future look like? We’ll have a look at all that in this article.
The Appeal of iGaming Apps
Having an iGaming app on your mobile device is like having your favorite casino place right in your pocket. With smartphones becoming an extra limb for most Indians, these apps simply bring the thrill of the game to their fingertips, 24/7.
In addition, iGaming doesn’t have to feel isolated anymore. It’s become quite a social affair, and some would even say that there are online casinos that have already built a gaming community. Most online casinos these days have chatboxes where all players can talk about the games they’re playing, their wins, and even their losses.
Variety also won’t be an issue compared to visiting casino establishments in states like Goa, Sikkim, and Daman. Players can easily switch from one casino to another to play different real money games. Well, in the first place, online gambling sites usually have hundreds of casino games to offer – some even have thousands.
Technological Advancements Used in iGaming
iGaming companies are also continuously evolving. It’s an industry that also hops on the latest trends and innovations. Take a look at the ways technology has been helping the industry revolutionize its consumers’ experience:
Security on Lock:
Online security is a big deal and iGaming apps understand this. They use top-notch encryption to make sure your information is safe and secure. After all, they’re dealing with your hard-earned money, so they make this a priority.
Mobile Marvels:
iGaming platforms know the language of smartphones, and this is why their websites are optimized for mobile usage. They carry games that won’t require you to download anything as they are instant play. Unless, of course, you choose to download a jackpot earning app.
Immersive Tech:
Virtual and augmented reality are looking like the future of iGaming apps. While video games are the ones leading this charge, casino game providers are also trying to get on to this trend. There are now VR casinos you can download so you can completely immerse yourself in the games you play. Think of Facebook’s Meta universe when it comes to this.
Graphics That Pop:
Forget blurry pixels; iGaming apps are all about high-definition. That’s especially the case for live dealer games. Once you click on a live casino, you can immediately tell that their casino studio setups are no joke.
Regular casino games can also offer you a high-quality experience. Many modern real-money games have sharp graphics and atmospheric sounds. Gone are the days when online casinos look like old-school Microsoft Solitaire games.
What Lies Ahead: Will India Regulate iGaming Activities?
As of now, the legal status of iGaming in India is a bit of a maze. While certain states like Goa, Sikkim, and Daman have regulations in place allowing land-based casinos, the online counterpart has been more of a gray area.
However, the winds of change might be blowing. There’s an ongoing dialogue among policymakers about the need for a comprehensive regulatory framework for online gaming, including iGaming.
One of the key driving forces behind the push for regulation is the need to safeguard consumers. A regulated framework can ensure fair play, responsible gaming practices, and protection against fraudulent activities. This, in turn, can boost the credibility of the industry and create a safer environment for players.
Some states seem to want to ban iGaming activities, but for now, this is only official in the states of Telangana and Andhra Pradesh. We still have to wait and see if states like Karnataka and Tamil Nadu will be successful in doing the same.
Conclusion
In conclusion, the allure of iGaming activities is undeniable, and its popularity in India appears unwavering, particularly with the seamless transition to mobile platforms.
It’s crucial to acknowledge that the industry currently operates in a regulatory grey area. To ensure a secure and trustworthy gaming experience, players should stick to regulated platforms.