India Online Gambling Market Insights Forecasts to 2033

• The India Online Gambling Market Size was valued at USD 2.85 Billion in 2023.
• The Market Size is Growing at a CAGR of 6.89% from 2023 to 2033
• The India Online Gambling Market Size is Expected to Reach USD 5.55 Billion by 2033

The India Online Gambling Market Size is Anticipated to Exceed USD 5.55 Billion by 2033, Growing at a CAGR of 6.89% from 2023 to 2033.

Market Overview

Online gambling is the practice of using the internet to make bets and potentially win money. It takes place in a virtual setting. This covers sports betting, poker, and betting in general.  To increase one's financial gain or achieve anything that has tangible value, it entails risking or staking money or any other valuable asset that may be referred to as "stakes" in a situation where the outcome is uncertain. Similar to traditional gambling at land-based casinos and sporting events, online gambling takes place on an internet-based platform. Payment cards are used in place of cash when placing bets, and profits and losses are managed electronically. There are numerous varieties of online gambling, such as poker, horse racing, casino slot machine games, blackjack, roulette, and sports betting. The act of gambling online by placing bets on games and events with the hope of winning money or prizes is known as online gambling. It is playable on multiple devices and does not utilize real money, instead using virtual chips or bitcoins.  

Report Coverage

This research report categorizes the market for the India online gambling 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 gambling 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 gambling market.

Driving Factors

Through licensing and taxation, online gambling has an opportunity to bring in a sizable sum of money for the Indian government. Additionally, Indian entrepreneurs who want to build and run their online gambling platforms may find employment prospects in the online gaming sector. This rise is being fueled by the large number of young people in India, as well as by rising disposable incomes, new game genres, and a surge in tablet and smartphone users, which makes online gaming more accessible. Based on a survey from EY FICCI (Federation of Indian Chambers of Commerce and Industry), transaction-based games' earnings climbed by 26% in India, and the total amount of paid gamers climbed by 17%, from 80 million in 2020 to 95 million in 2021. These data clearly demonstrate a rising tendency in the Indian online gambling market.

Restraining Factors

The Indian government has directed state governments to take enforcement measures against outdoor advertisements endorsing online gambling and betting services.

Market Segmentation

The India online gambling market share is classified into gaming type and device type.

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

The India online gambling market is segmented by gaming type into sports betting, casinos, and others. Among these, the sports betting segment is expected to hold a significant market share through the forecast period. In the Indian online betting market, the sports gambling sector held a dominant position with the biggest revenue share. Furthermore, the market's expansion has been accelerated by the growing appeal of sports betting, which involves wagering on events including rugby and soccer, and is linked to high internet usage.

• The mobile segment is expected to dominate the India online gambling market during the forecast period.

Based on the device type, the India online gambling market is divided into desktop, tab, and mobile. Among these, the mobile segment is expected to dominate the India online gambling market during the forecast period. Due to the increasing use of smartphones, it is projected that the amount of mobile gambling will rise quickly. The growing popularity of mobile sports betting is primarily being driven by young people.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the India online gambling 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

• SMA Solar Technology AG
• Siemens Energy AG
• KACO New Energy GmbH
• Fronius International GmbH
• REFUsol GmbH
• SolarMax
• Others

Key Target Audience

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

Recent Developments

• In December 2022, Fronius has committed to investing over EUR 230 million in the upcoming year to develop and convert its manufacturing site in Sattledt, Austria, and its expertise center for reactive elements in Krumau, the Czech Republic, for a total of EUR 187 million.  

Market Segment

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

India Online Gambling Market, By Gaming Type

• Sports Betting
• Casino
• Others

India Online Gambling Market, By Grid Type

• Desktop
• Tab
• Mobile