30 September,2021 12:21 PM IST | Mumbai | BrandMedia
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Online and mobile gaming has seen unprecedented growth in India over the past couple of years. A healthy business climate needs clear regulations and government support. Traditional games and industries will also benefit from a digital transition, according to analysts.
The rapid growth of smartphone use and internet coverage has exposed the popularity of online entertainment among desi users, and mobile gaming in particular. Online casinos like 10Cric has gone mainstream, industry analyses affirm, and it has raised the status of the nation as a global digital player.
India is the second largest app download market for online games and one of the leading five gaming markets overall. With currently more than 400 million active mobile gamers, experts predict them to grow to more than 600 in less than two years.
Some of the Union's favourite legal games include Powerball India and other online lotteries that are only accessible over the internet to the majority of desi players. This is due to the lack of a Central regulation on online gambling - giving access to a wider user market and freeing some games from the stigma of having to prove they are legitimate.
The issue has its effects on the nation's gaming industry and the development of digital infrastructure as a whole. There are now more than 400 game studios, developer companies and tech startups that operate in the sector. Investors have poured in more than half a billion dollars in online gaming, in the first six months of 2021 alone.
An industry research into online lotteries in India uncovers the importance of the sector to traditional economic and social balance as well. Besides being a substantial public revenue source, legal lotteries in India have shown an incredible potential to fund welfare programs and generate local employment, the study points out.
Some states, however, have not regulated the sector well or have outlawed it altogether. A federal-level legislation will go a long way towards legitimizing the online gaming sector, including legal lotteries and State-sanctioned online gambling.
Current differences in State laws stifle the business climate and put the burden on companies pushing to make online lotteries and other desi favorites available to a wider consumer pool. After a series of Covid-related lockdowns, the growth in demand was inevitable, bringing online gaming to the forefront of daily needs in place of outdoor entertainment.
Despite such difficulties, India's online gaming industry has fared more than well in the meantime, growing at around 47% and heading into 2022 strong. By 2024 it is expected to be worth almost $ 4 billion, according to financial analysts.
Banning some international operators has given more space to desi companies and local content. In line with both Digital India and "Atmanirbhar Bharat" initiatives, gaming studios and tech startups are pushing for a market inspired by traditional Indian culture.
Some classic real-money games like lottery are allowed in about half of the States, others like rummy and poker are viewed by courts as legally acceptable across the nation. However, a clear distinction of "skill-based" games will allow new-generation businesses to perform better and access more local and foreign funding.
Fantasy sports is another prime example for a growing sector with little legal clarity. While sports betting is formally outlawed, earning money rewards on the performance of selected athletes and sports is actually possible.
A more efficient regulation and monitoring procedures will allow other traditional and new forms of gaming to prosper and raise the status of India as an innovative digital nation.
