The gaming industry is expanding and many countries around the world are adopting it. There’s no denying the fact that people are fond of playing games on their desktops and mobile phones. In recent times, mobile gaming has experienced massive growth and is set to have massive revenue as soon as 2025.
Two countries that are set to take over the world in this sector are India and the UK. Although we will focus on India's expansion, we'll compare this particular market to the UK as they are both leaders in their sense of the word.
Online Casinos are Where Gaming Differs in the UK and India
Both the UK and India are leaders in gaming. The UK is the second-largest market in Europe, whereas India is the most prospective market in Asia. However, there's one sphere of this industry in which these countries are opposites – online casinos.
The UK has the best-regulated market for gambling sites in the world. The Gambling Act 2005 states that online casinos are allowed to offer their services, as long as the UK Gambling Commission licenses them. Thanks to the fact that gambling is regulated in the UK in such a manner, it is the most desired option for operators. A popular option for British gamblers is Amazon Slots, a real money casino regulated in the UK.
Interestingly enough, India is the second-largest market for online casinos. The pun here is that they are not regulated. According to the Public Gambling Act of 1867, casino sites formally cannot offer their services to the people. Authorities do not have any regulators that are set to block these platforms.
So, even though online casinos cannot set up shop in India, offshore operators don’t have any restrictions in terms of offering their services. That is why there are millions of players from India that enjoy casino games such as slots, roulette, blackjack, and live dealer games.
The Expansion of the Gaming Industry in India
In terms of the general gaming industry, India is a rapidly expanding market. In 2022, the market’s worth was around $2.8 billion. It grows at a CAGR of slightly less than 30%. That is why statistics show that its worth can reach as much as $5 billion by 2025 and $8.6 billion by 2027.
Moreover, the number of gamers will likely increase from around 500 million in 2022 and 2023 to 600 million in 2025. Online and mobile gaming will play a huge role in this expansion. India’s New Paying Users are number 1 in the world. Between 2020 and 2021, their number rose by 10%.
The World Economic Forum states that mobile gaming is a huge influencer in these numbers. Over 300 million people are playing games on their mobile phones. Many of them are playing online games due to India’s fantastic Internet speed.
The only challenge that the industry has now is its regulation. This especially concerns online gaming. After reviewing the industry, the Ministry of Electronics and Information Technology shared a few recommendations. This includes the creation of a central-level law for online gaming as well as forming a regulator that will oversee this sector.