However, the positive development began before the outbreak of the corona pandemic, which is why various gaming providers from all over the world are positioning themselves. Several Maltese gaming providers have already enjoyed increasing sales figures in the past few months and are tailoring their offerings specifically to the Indian market. Although this raises a big question mark from a legal point of view.
A gigantic market is waiting to be conquered
The Maltese news magazine Times of Malta recently pointed out the leaps in development on the Indian gaming market in a report. Accordingly, the growth of the market offers completely new economic options for Maltese online gaming providers. This is mainly due to the gigantic population of over 1.3 billion people and technical progress. A large part of the population now has access to online gambling via smartphone.
Various reports suggest that over half of the Indian population will be able to access the Internet within the next three years. This also turns them into potential customers, as simple and inexpensive smartphones also enable games to be played on the Internet. In addition, a considerable proportion of the population, the tech-savvy middle class, with their great interest in soccer and cricket, are also potential customers for bookmakers. The generally growing economy is also doing its part. However, the legal situation regarding gambling in India is rather opaque.
Gambling Legislation in India
“According to the“ Public Gaming Act ”passed by the British colonial rulers in 1867 and still officially in force today, almost all forms of gambling are prohibited in India. In terms of federalism, however, three Indian states, Goa, Daman and Sikkim, have allowed gambling in their areas in the form of a few casinos. There are currently 20 licensed casinos there.
“According to the“ Public Gaming Act ”passed by the British colonial rulers in 1867 and still officially in force today, almost all forms of gambling are prohibited in India. In terms of federalism, however, three Indian states, Goa, Daman and Sikkim, have allowed gambling in their areas in the form of a few casinos. There are currently Some Rupee casinos there.
If online casinos and online bookmakers want to legally offer their gambling offer in the country with the second largest population in the future, a legal regulation is required. The influx of online casinos that have officially been operating illegally up to now on the Indian market is putting the government of India under pressure. According to various studies, around 80 percent of the Indian population use an online casino at least once a year. However, due to the unregulated legal situation, the Indian government escapes around 1.5 billion US dollars in tax levies every year. It is therefore very likely that the market will be re-regulated in the near future. “
Gaming companies from the island of Malta sense their chance
The potential growth of the Indian gambling sector is gigantic, especially in the online space. A country with more than a billion inhabitants, more than half of whom can potentially participate in online gambling using new generations of smartphones, is interesting for every online gambling provider. It will therefore be crucial which providers find the fastest, legal route into the Indian gaming market and best adapt their offer to regional interests.
Several gaming companies based on the island of Malta sense their chance and have already been able to improve their sales figures on the Indian market significantly over the past few months. On the one hand, this is certainly due to the fact that almost all land-based gambling facilities have been temporarily closed due to the corona restrictions and the players have switched to online gambling. On the other hand, there is also the increasing popularity of online casinos and sports betting.
The great interest is also evident in the fact that online gaming providers are now offering gaming offers specially tailored to the Indian market. The card games traditional in India such as Teen Patti and Indian Rummy are offered alongside classic online table games and slot machines.
In the area of sports betting, bets can be placed on traditional, popular sports such as cricket in addition to classic sports such as football. Online gambling in India is still at the beginning of its development, but the potential due to the enormous population and technical progress is so enormous that the fight for a good position in the Indian gambling market has already begun.
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