What Are the Prospects of the Indian iGaming Industry?

Indians’ appetite for iGaming is on the rise. Given that India is the second most populated country worldwide, this rise represents a significant number of punters. The impressive smartphone penetration rates in India and the improving economic situation have driven this growth. 

The future of iGaming in India is bright, as we shall see from the analysis of the following prospects.

The Domestic Market Size Will Cross The $2 Billion Mark By 2023

India’s growth of the iGaming industry has assumed a positive trajectory for years—especially in the recent past. Today, it’s estimated to be worth $930 million. Even more impressive is its 2014-2020 CAGR—which stood at 22%. These statistics explain why India has the fourth largest iGaming industry globally. 

If the current growth rate continues, the industry will earn $2 billion in raking fees by 2023. 

This sharp growth in raking fees is also reflected in the growth of online gamers in India. As of 2020, there were 360 million online gamers in India. Interestingly, this number is close to the entire US population and almost six times that of the UK. 

By 2023, the number of Indian gamblers is expected to cross the 500 million mark.

Multiple factors drive these impressive statistics. The over 500 million internet users in India and an improving economy are examples. With an improving economy, an increasing number of Indians acquire significant disposable income.

The improved economy also means Indians are looking for areas to entertain themselves. An online casino is a favourite option for many.

These statistics indicate that India will continue to be a lucrative iGaming market—and you can never go wrong by investing in the Indian iGaming industry.

If you were to invest now, the investment should be very profitable within a few years. 

Lots of Business for Gaming Software Developers

The growing popularity of iGaming in India has also improved the demand for gaming software development. This appetite for iGaming has already captured the attention of many local and international software developers.

What's more, the Indian business climate has many characteristics that make it ideal for business.

For example, India has one of the largest populations of youth worldwide. The youth in India, as are youths in other places worldwide, love iGaming, regardless of PC gaming or console gaming. 

A considerable number of this youthful population love casual games. Meanwhile, an increasing number of young players are heavy gamers. 

This population will always drive the demand for quality games, an attractive investment opportunity for developers.

Moreover, young populations are typically very demanding. When it comes to iGaming, this demand is for a wide variety of quality games. 

This need for more innovative iGames creates plenty of chances for gaming software providers. 

Many local and international gaming providers already exist in the Indian market. 

Indeed, the profitability prospects of the Indian industry have already attracted many international gaming providers to the sub-continent. 

The growing appetite for games means there will always be room for more software developers. As long as you can generate high-quality games, Rocket Casino will provide you with a good market. The Indian business environment is perfect for investors.