Valued for four trillion rupees, the online gambling industry has been on a massive rise, since the first online casino was launched in 1994. What’s the secret behind the successful industry? We take a look.
Ever since the first games were invented, gambling has been closely associated with games. The early Romans liked to gamble when they threw dice, and they liked to bet on who would win the chariot races. Gambling has been a part of most human cultures, but also under quite constant regulation over the years.
But never has the gambling industry been bigger than it is today. With online access basically, everyone over 18 with an internet connection has 24 hours access to online casinos, slot machines, and bookmakers.
The global market for online gambling was in 2019 valued at 4 trillion rupees and is estimated to grow year by year. The estimates say that it would have more than doubled already in 2027 with a revenue forecast of 9,5 trillion rupees. But how did online gambling become such a multi-trillion-rupee industry? We will give you the answer to how this industry has been successful at making money on the internet.
More internet and fewer restrictions
Since the first online casino was born in 1994, it’s been a no-turning-back journey for online gambling companies. Year after year the industry has increased, with markets expanding year by year. As the internet came into more and more homes, online gambling also increased its popularity. The old variations of gambling like sports betting, poker, blackjack, bingo, lotteries, or horse betting could easily be transformed into online games at gambling sites.
With more households connected to the internet, the more popular online gambling became. And with the introduction of smartphones and mobile data, even more, players could be connected to the industry. The increased availability is one of the main reasons behind the popularization of online gambling.
Multiple nations have also changed their gambling laws that previously made online gambling illegal. Some nations only allowed gambling games through national lotteries and physical, licensed casinos. But through the internet players quickly gained access to international online gambling places placed in other nations, where the companies would offer their services to worldwide users.
So, in the 2000s and 2010s, multiple nations started to liberalize their gambling laws, so habitants could do online gambling at state-licensed casinos and betting sites. This also meant the states could gain tax revenue from the gambling companies.
Rise during COVID
With the COVID-19 pandemic, many people got introduced to online gambling, as people had to stay at home. This led to multiple new first-time gamblers. It is tempting to give the pandemic the honor of making online gambling a multi-trillion-rupee industry, but the numbers already indicated that the growing revenue would continue year after year.
If you want to try online gambling by yourself, you can find some of the best, licensed casinos at an online casino guide. Here you will find a rated overview of the best Indian casinos that will also give you information on bonuses and potential free spins for slot machine games. Furthermore, you can find essential info about online casinos in India, the newest and most popular games, safe payment, casinos regulations, and the latest gambling news.