Indian iGaming Market Hits Record High!

The iGaming market in India has hit record numbers in the last 6 months after IPL 2024 with players flocking to wager on sports and play betting games such as Aviator. There has been a rise from 973,000 to 1.9 million users due to the immensely popular cricket league played in India. As Lalit Modi once said, in the IPL, India wins every day.

What has been more interesting than the number of players has been the change in the industry market share of India for wagering brands as per Faizan Baig. Stake seems to have eaten up Parimatch's market share going from the 4th position to the 1st in a matter of months. But this has come at the back of a large marketing budget with expenditure on singers, actors, celebrities, sports players, Instagram influencers, YouTubers, and streamers. Brands such as Parimatch, Dafabet, 1xBet, and Dafabet have had to take a back seat in this journey and be mere spectators.

Related read - https://theaviatorpredictor.com/parimatch.html

The most popular wagering activity in India remains cricket, however, we see users across the country also play crash games, tables, and slots with the rise in the domestic gross gaming revenue showing higher player lifetime values.
The Indian iGaming market has seen remarkable growth in recent years, marked by substantial increases in CAGR, average time spent, player lifetime value, and user numbers. Despite a slowdown due to new taxation policies and regulatory challenges, including government bans and some operators exiting the market, the long-term prospects remain positive. This optimism is driven by India's evolving economy and cultural shifts, supported by advancements in the micro-digital economy and changing attitudes towards iGaming.
Moreover, the introduction and adaptation of mobile payment methods such as UPI and Paytm have been game-changers, enabling instant transactions as small as £0.10. UPI now accounts for over 76% of local transactions and is the preferred payment method for 62% of online gamers across RMG, video, and social platforms.

Noida, UP

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This release was published on openPR.