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Where Does The Gambling Industry Stand In India?

Gambling in India is not a new phenomenon. However, on the legal front, it is illegal in the entire country. Many also criticize gambling on moral grounds. Whether it’s legal or not, gambling has continued regardless. This is evident from the news of gambling activities being busted almost regularly. And with the online means now in place, gambling now has newer forms and options. The laws for gambling online are relatively ambiguous and rigid , thus making gambling now more robust than ever before. 

According to YourNews report, the gambling industry in India stood at approximately ₹62 billion in the year 2019, as against 2010, when India’s gambling market was less than ₹10 billion. Over a span of 9 years the industry has seen a growth of about ₹9 million per year. In 2020, the industry rose to ₹91 billion and will easily surpass the ₹200 billion mark in 2021. The industry is expected to grow to about ₹250 billion by 2024. That indicates an annual growth of roughly ₹38 billion per year. This growth can be credited to the increasing use of smartphones, easier and affordable availability of internet, and the rising popularity of online gambling. 

As per DataReportal reports, currently 1.10 billion Indians have a mobile connection and 624 million have an internet connection. Which indicates 79% Indians own a mobile phone and there’s 45% internet penetration in the country. Reports suggest that 40% of internet users gamble online in India and that 80% of adults gamble at least once in a year. 

Adding to the online gambling scenario is the rise of online casinos. Physical casinos in Goa and others were considered to be restricted only to the rich and elite class. However, the rise of online casinos has helped bust that taboo by bringing casinos to everyone’s fingertips irrespective of any such class or financial barriers. The most popular online casinos in India are Roulette, Baccarat, BlackJack, Indian Rummy and Slots. 

A greater factor above all for the rise in online gambling is the rewards factor. One can win huge and exciting cash prizes on online gambling platforms like Jackpot City Casino, Bet365 among others. Even simple slot games can have cash prizes exceeding  ₹10,000,000. And that’s not just a fiction or assumption. There have been real winners who won huge cash prizes in online gambling. In early 2020, an Indian casino player won 2 million rupees on a single spin of online slots. The news spread and many players flocked to try their luck at online gambling. Online gambling platforms also offer bonuses and more, which means players can start their gambling journey without risking a single penny from their own pockets.

The gambling industry in India may be sizable as of now, but it’s sure to grow tremendously in the coming future. With newer gamblers joining the bandwagon everyday, the gambling industry in India is only getting colossal.

For more news and updates, keep reading GutshotMagazine.com. Follow us on our social handles Facebook, Instagram, and Telegram. 

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