India Online Betting Market Insights Forecasts to 2033

• The Market is Growing at a CAGR of 8.8% from 2023 to 2033

• The India Online Betting Market Size is Expected to Hold a Significant share by 2033

The India Online Betting Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 8.8% from 2023 to 2033.

Market Overview

Online betting is the process of utilizing an online platform to place bets or gamble money on the results of different sports or events. Online betting enables bettors to use PCs, smartphones, or other devices that can access the internet to place wagers while at home or on the move. The ease of being able to place bets at any time of day or night is combined with a large selection of betting options and games offered by many online betting sites. Furthermore, forecasting outcomes in sports and making money on them is known as betting on sports. There is a lot of unlawful betting in the nation even with the current prohibitive laws. About half of the estimated US$60 billion annual value of the Indian betting sector is made up of illegal bets.

Report Coverage

This research report categorizes the market for the India online betting market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the India online betting market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the India online betting market.

Driving Factors

Only the states of Goa, Daman, and Sikkim have legalized online betting in 2022. A lottery that accepts wagers from people all over India is also permitted online in Sikkim. More states were predicted to follow Sikkim's lead, creating a sizable online betting business known as "matka gaming" over the whole country of India. Additionally, Sports betting is a type of betting where bets are made on game outcomes that are predicted. It is well-liked in many sports, such as football, cricket, and horse racing. It is anticipated that the sports betting sector would advance due to the widespread use of the internet.

Restraining Factors

More strict restrictions on online betting advertisements will be implemented by the Indian government. The government had previously ordered the removal of advertisements for foreign online betting firms from a number of app stores and blacklisted a number of betting apps.

Market Segmentation

The India online betting market share is classified into betting type and platform.

• The sports betting segment is expected to dominate the India online betting market during the forecast period.

The India online betting market is segmented by betting type into sports betting, casino games, fantasy sports, horse racing, and lottery. Among these, the sports betting segment is expected to hold a significant market share through the forecast period. The population's rising purchasing power in India as a result of rising per capita income is anticipated to support the segment's expansion.

• The mobile segment is expected to hold a significant market share through the forecast period.

Based on the platform, the India online betting market is divided into desktop, app-based, and mobile. Among these, the mobile segment is expected to dominate the India online betting market during the forecast period. It is anticipated that the increasing number of freemium and reasonably priced smartphone applications would propel the segment's expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the India online betting market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Betway
• 10Cric
• Bet365
• Parimatch
• 1xBet
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, the male squad of English Premier League club Arsenal has signed an agreement to serve as the Official Worldwide Betting Partners of Betway, a well-known international online betting and gaming business.

Market Segment

This study forecasts revenue at India, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the India Online Betting Market based on the below-mentioned segments:

India Online Betting Market, By Betting Type

• Sports Betting
• Casino Games
• Fantasy Sports
• Horse Racing
• Lottery

India Online Betting Market, By Device Type

• Desktop
• App-Based
• Mobile