The online gambling or real-money gaming sector in India has undergone a recent boom. What is it about the betting industry that has seen steady growth, even as the Indian economy is being ravaged by the side effects of the pandemic?
Gambling has long been a part of Indian culture, whether over small wagers card games in family gatherings, or larger bets placed on India's favorite sport, cricket. Thus, it is hardly surprising that India is one of the fastest-growing markets for online gaming and sports betting.
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But what are some of the factors that have contributed to the rise of online betting in India?
One of the biggest reasons behind the rise of the online betting industry to the top is the easy availability of cheaper and more efficient technology. With more and more mid to low-tier smartphones flooding the Indian market, every citizen has access to the internet and betting apps.
Every citizen has access to the internet and betting apps. Pixabay
The more people become dependent on the smartphone for all their needs, the more they get exposed to apps that are meant for pure entertainment. And the lure to make some extra money while playing a simple casino game on your phone seems like an irresistible offer indeed.
We have Ambani to thank for the dirt-cheap data packs that we can now buy to make content consumption easier than ever. Gone are the days where we would make a 1GB data pack last half a month.
With most telcos now offering cheap data packs with 1GB or 2GB to spend per day, people are enabled to use the internet to their hearts' content. And before long, the many real-money gaming apps flooding the market are bound to attract users.
How would digital payments help people bet online? The answer is simple – the more easily you can spend online, the more you actually do!
Digital payment apps that run on the UPI infrastructure – Paytm, Google Pay, PhonePe, BHIM, Samsung Pay, Amazon Pay – have all made it possible for people to easily deposit money on betting sites or apps and enjoy wagering at any time.
Digital payment apps run on the UPI infrastructure. Pixabay
Since more and more real-money gaming apps now accept these RBI-approved payment methods, Indians are more inclined to quickly deposit some spare cash and begin trying their luck at the games!
This may seem like a frivolous reason behind the rise of online betting in India, but it is one that cannot be ignored. 2020 saw an incredible increase in the number of players that were betting online. And that trend has continued into 2021.
And there is a simple explanation for the same – the lockdown having cut down entertainment options for the general public, people already have very few choices. And real-money gaming or online betting happens to be one of those fun activities that you can engage in, without ever having to interact with another person, making it the perfect sport for a pandemic.
(Disclaimer: The article is sponsored and hence promotes some commercial links.)