With a 1.366 billion population, India is one of the most coveted markets for many industries. Social and economic changes that transformed the country in the past few decades have made it as coveted among investors as many Western countries. And the one industry that seems to dominate the free time of many Indians is gambling.
According to the “The era of consumer A.R.T. – Acquisition Retention and Transaction” report by EY FICCI, online gaming is the fastest-growing segment of entertainment among Indians of all generations. In fact, this popular pastime has noted a 31% growth in the number of gamers.
It is estimated the number of gamers has reached 365 million in 2020. After the COVID-19 pandemic waves that keep the people locked inside their homes, that number can only be higher. The numbers are definitely encouraging, but is this scenario all rainbows and unicorns? The reality is far more complex.
The increasing popularity of gambling in India
India’s gaming industry is no.1 in the world, worth $930 million. It is estimated the number will reach $3.8 billion by 2024. Nonetheless, this information should be taken with a grain of salt. It is important to mention that there is no scientific research on the status of the gambling industry in India, and the word “gaming” often includes another popular industry – esports.
Clearly, gambling still contributes to this massive number, especially if we know that many Indians decide to play on the black market due to the lack of regulated online brands. George Lewis, a casino specialist at CasinoHEX.in, has dedicated his career to the online casino industry and has a detailed insight into who visits the CasinoHEX website and why.
“When thinking of India, many people don’t understand how the internet really changed the face of the country. India is the second-largest internet consumer in the world, with 560 million users. 50% of all Indians are under the age of 25, and 85% of gamers have their daily dose of adrenaline by playing on mobile phones”, he explains, adding that the ever-growing middle class and accessibility of mobile phones makes gaming of all sorts accessible 24/7.
But what do those numbers precisely mean? The more and more powerful middle class is known to have more free time. Professionals of all sorts tend to develop their lifestyles around postmodernist values. Sociology of postmodernity suggests a positive outlook on scientific, political, and technological development.
Mass media, melting pots of nations, and mobility of people (not only in terms of space but also in terms of social classes) result in a more relaxed approach to life, as the everyday struggle of obtaining means of survival is reduced to a minimum.
Modern Indians spend their time in what is known as leisure activities, and gambling is only one of them. Needless to say, it is also one of the cheapest hobbies of this kind, as most online casino brands focus on creating budget-friendly deposit limits.