Future Prospects of Online Gambling in India
There’s no question that online gambling has exploded in popularity in India in the past few years. And that shouldn’t be a surprise at all. With lengthy lockdowns in the past year due to the COVID-19 outbreaks and gambling being as fun as it is, no man or woman is unsusceptible to its influence. To be honest, we’ve all gambled at least a few times in our lives. Whether it was a football match, a slot, or a simple gamble worth hundreds of Rupees between friends, gambling is deeply rooted in all cultures.
Despite the fact that the government doesn’t allow it, online gambling is pretty widespread in India. Online casinos and sportsbooks are rushing to offer their services to Indian players. The youth in India is pretty focused on making money via online gambling due to financial insecurity and the challenging job hunt. The casino may always win in the end, but that doesn’t mean people will stop chasing that one big win.
While gambling, especially the type conducted online, is illegal in India, Indians haven’t stopped placing their bets at gambling sites. The truth is that the law isn’t enforced. Some states in India have opened the door to gambling sites, which has resulted in an influx of online casinos and sportsbooks with great games and odds. One of the main reasons why the Indian youth is so susceptible to online gambling is the fact that it’s easier to play online than ever.
Most payment methods these days are very easy to use. They are also available on the go, making deposits and withdrawals easy. It’s easy to find a casino accepting Visa credit cards, and we can say the same for MasterCard, Neteller, and Skrill casinos. The future of online gambling in India is bright, and as it seems, it’s also powered by unique payment methods.
Why Do Indians Love Gambling Online?
Well, who doesn’t? Online gambling has spread like a plague all over the world. People are just overjoyed with the fact that they can place their bets from the comfort of their homes. No need to go to a casino to play roulette or slots and no need to visit a betting shop to place bets on the IPL. You can do it from your home in 2021, or even better, on the go.
All of that has been powered by the rise of alternative payment methods with fast transactions and rarely any fees. Sure, nothing beats bank transfers in terms of security, but they are slow and inconvenient. Credit/debit cards and e-wallets are much easier to use, and they’re just as safe and secure as bank and wire transfers.
When online gambling sites first hit the Internet, deposits and withdrawals were insanely slow. It took more than a few days for casinos to confirm a bank deposit. As times passed and new payment methods emerged, the time was cut back to hours or minutes. Revolutionary payment methods such as Neteller, Skrill, and PayPal cut it back to seconds, allowing Indian players and punters to start betting right away.
It was a sign of things to come. It didn’t take long for new payment methods to emerge, including some Indian ones. Of course, other factors played a huge role in the popularity of online gambling in India, especially a large number of games, widespread high-speed Internet adoption, and the variety of bonuses and promotions.
With fast payment methods also in the mix, the online casino growth in India was a ticking time bomb. It exploded in the past few years, and as it seems, an aftershock (or a few) will soon follow.
What Fueled the Growth of Online Gambling in India?
The online gambling growth in India didn’t happen overnight. There were many factors leading to it that had already sowed the seeds of succession. As online gambling grew around the world, so did India’s interest in it. With no strict laws to enforce, no one was scared about placing a bet or two at online gaming sites. Whether it was international cricket or the industry’s top slots, Indians were eager to spend time at online gambling sites.
The growth of Indian online gambling sites was fueled by numerous factors, including fast payments. Below you can see the other ones.
Cutting Edge Tech Availability
Higher Internet speeds and widespread availability are definitely behind the emergence of online gambling in India. Numerous areas of the Asian country didn’t have a stable Internet connection for so long until the past few years. This, along with the widespread availability of smartphones, caused the online gambling boom in India.
It’s easier to access online gambling sites right now than ever. You can do it from your PC, laptop, or smartphone on the go. As long as you’ve got a stable Internet connection in India, you’re golden. As speeds increase with 5G fast incoming, online gambling in India will grow even further.
When gambling online, one of the essential things is to find a safe and secure gaming site. Contrary to what many players think, those don’t come that easy. The truth is that the gambling market is flooded with choices, and not all betting sites and online casinos are safe to play at. There are gaming sites hitting the market every day or week, and they can pile up before the authorities react.
Scam sites are common in India and all over the world. These usually operate without a license. If you want a fair and safe gambling experience, the license is the first thing you check for. Don’t just trust the badge slapped on the website’s footer. A properly licensed casino will also display the license number that you can easily check online.
Besides the license, you also need to choose a gambling site that uses at least SSL encryption to keep your private data and transactions safe and sound. Other features such as a firewall are not necessarily included but welcome addition. Pay special attention to the security features gambling sites have, as joining a scam site will only result in money (and nerves) lost.
Variety of Games
One of the major aspects of why Indians love to gamble online so much is the variety of games. To put it simply, online casinos beat land-based venues with ease. They offer hundreds or even thousands of games, primarily slot games, and all of them can be played for free. That’s not something you can do offline.
The variety of games at online casinos is unmatched. You can play classics with 3 reels and a single payline or slots with hundreds of thousands of ways to win. You can even try progressive jackpots that are fueled by every bet players place on them. It’s a whole new world of games on the web, and you can try them all for free, real money, or with a bonus.
Of course, it’s not just slots we’re talking about. RNG card and table games are also on offer, along with live dealer gaming sites. The latter is a whole new way of playing casino games online, bringing the world of Vegas right to your screen.
Bonuses and Promotions
Another reason why Indian players love gambling online so much is the bonuses and promos. To put it simply, there are dozens of different offers out there, starting with welcome offers. It’s easy to claim these as you register, and more often than not, they come with a 100% match bonus in addition to free spins.
It can also be a no deposit bonus or another type of welcome offer that will make your stay more enjoyable from the beginning. Whatever the offer is, you should claim it if the terms are fair. Make sure to check the wagering requirements and how much time you have to finish. If any of the terms look unfair to you, you should take a look at another bonus.
Besides the increased high-speed Internet availability, fast payments have surely played a large role in the rise of online gambling in India. It’s easier than ever to deposit money in online casinos right now. Thanks to e-wallets, the process is effortless, fee-free, and instant. The top gambling sites will also accept INR, which means no currency conversion fees.
Indian players these days get to use a wide range of payment methods in online casinos. From bank and wire transfers to e-wallets and even cryptocurrencies, betting online is easier than ever. If you’re wondering what the best payment methods for Indians are, we have a list below.
Best Payment Options at Indian Gambling Sites
The great news about Indian online gambling sites is the fact that there are plenty of instant payment options to pick from in 2021. Sure, you can go old-school via the bank transfer route, but why would you do that when there are faster options?
Bank and wire transfers are certainly secure, but they’re also snail-mail slow. E-wallets and online banking services, for example, provide better transactions processing times along with low to no fees.
IMPS stands short for Immediate Payment Service. As the name suggests, it offers immediate payments over the web. The electronic bank transfer service works via desktop PCs and mobile phones and is largely considered the best payment method for Indian online gambling fans.
With IMPS, you can fund your account and withdraw winnings in minutes. All of that comes at low fees and in INR, so you don’t have to worry about currency conversion fees.
UPI stands for Unified Payments Interface. As the name explains, it’s an instant real-time payments service developed by the National Payments Corporation of India. Just like IMPS, it is available at the majority of Indian online gambling sites and is one of the most popular payment methods. UPI facilitates P2P and P2M (payment to merchant) transactions and is regulated by the Reserve Bank of India.
The mobile platform allows easy payments from your Android or iOS phone. Over 200 banks have currently partnered with UPI, and the number should increase over the coming years.
PayTM is a localized Indian payment system based in Uttar Pradesh. It’s one of the top mobile payment systems at Indian online betting sites, with annual revenue of nearly $500 million. Trusted by millions of Indian players, PayTM is a safe and secure payment method that accepts INR and is among the most respected ones online.
You can use the service on desktop PCS, laptops, and mobile devices for on-the-go payments made in online casinos and betting sites. The digital wallet app also allows players to earn special points that can later be redeemed for rewards and special services.
The world’s leading e-wallet is a safe and secure option available to Indian players. PayPal is probably the most secure e-wallet you’ll come across, with the company very picky about who it trusts. Not all betting sites or casinos can join the PayPal list, so we can safely say that security is a priority for the digital payment giant.
What makes PayPal so great isn’t just the security. It offers instant transactions that can be done on the go and with almost no fees at all. At the same time, it’s accepted at the best gambling sites in India, so wherever you see the PayPal logo, you can rest assured that it’s a legit site.
Of course, it wouldn’t hurt to double-check the credentials, as a lot of scam sites can slip through the cracks unnoticed. But, for what it’s worth, PayPal gambling sites in India should be legit and very easy to join and play at.
Google Pay is a similar service to PayPal, except it’s led by tech giant Google. As you can guess, this is a fully mobile payment solution. Google Pay allows you to make deposits at Indian gaming sites via your smartphone, and you can do it securely and in seconds.
It’s one of the most secure payment methods you can use online and very easy to set up and use. Additionally, Google Pay is available in the top gaming sites in India. Much like PayPal, it’s only available at legit betting sites and casinos.
Plus, if you prefer to play on the go, you’ll love the fact that you can do everything from your phone. Thanks to biometrics, a face scan or fingerprint would be all you need to confirm a transaction in seconds.
Neteller & Skrill
Both Neteller and Skrill are most likely the top e-wallets on the gambling market on the web right now. Both are part of the Paysafe Group and are widely regarded as safe and secure options for deposits and withdrawals. The fact that they’re used by the top gaming sites all around the world makes them a huge fan-favorite everywhere, not just in India.
Neteller and Skrill share most of their features and are very easy to use. Deposits are instant, while withdrawals depend on the site itself. The great news is that fees are low, which is music to the ears of Indian players.
Trustly is another e-wallet that gained a lot of attention from players after being the sole payment option at instant casinos – a new type of online casino that don’t require an account for you to play. You just make an instant deposit via Trustly and can spin slot or play at casinos in no time.
Such casino sites are still rare, but many players consider them the future. Trustly is a fully safe and secure payment method for this purpose and has no fees as well. More importantly, it can be used to continue playing from wherever you stopped last time, another great feature of instant play casinos.
Which Technologies Will Usher in a New Era of Online Gambling in India?
There are numerous new technologies in the online gaming industry pipeline that will usher in a new era of online gambling. While casinos are good where they are right now, the industry is working non-stop to deliver new features and technologies that will make playing games and betting online even easier than it is now.
All emerging technologies have a goal to make life easier for players. From virtual reality to augmented reality casino tables, these are the technologies that are expected to hit the market soon.
Augmented reality is already being used in smartphone apps. Apps implement it through the camera, delivering important information about landmarks or objects via the viewfinder. That technology could come in handy at online casinos, giving you an overlook of the tables available when you use VR lenses.
In that way, you can easily ‘walk’ through a casino and see the range of buy-ins or slot jackpots on offer. You can then easily sweep them away with your hand and choose the table or slot you want to play. Of course, this technology will work best when implemented with VR devices. That kind of combination will provide the best results and allow you to make the most out of it.
Virtual reality is probably the most exciting technology that’s set to make a splash in online gambling in India. Virtual reality casino games already exist for game consoles, but the next step is to implement the technology in online casinos. Imagine being able to put on your VR device and browse a casino in a virtual setting – it’s something Indian players have dreamed of for a long time.
Technology is still in its infancy when it comes to online gaming, but things will change soon. Virtual reality is often considered the most exciting technology set to hit the online gambling market. You can bet that whenever that happens, the Indian market will be among the first to enjoy its benefits.
VR gambling is exciting, but the blockchain has much better applications. Cryptocurrency casinos have already hit the market with excellent results so far. They offer a much faster and easier way to make deposits and withdrawals. Not faster, but instantly. If you think e-wallets are fast, think again. Making a Bitcoin deposit in online casinos is done in seconds, as soon as the blockchain verifies the transaction.
And it’s not just Bitcoin. There are plenty of altcoins thrown in the mix as well. Litecoin, Polkadot, Ethereum…the list goes on and on. Even despite the fact that many governments ban cryptos, it’s not illegal to bet with them online. Indian players can enjoy such opportunities even right now, although we’d watch our back in that case. The government isn’t too happy about Bitcoin and the bunch.
However, the number of cryptocurrency casinos will keep rising over the years, and there’s nothing no one can do about it. With lightning-fast and low-fee transactions on offer, players won’t miss that kind of opportunity.
What Does the Future Hold?
With instant payment methods and new emerging technologies, the future of online gambling in India is surely bright. As the market grows, new and improved casinos will land on it and attract more and more players. Experts believe that the industry is set for an even bigger boom, but before that happens, the government needs to push things in a proper direction.
Without online gambling legalization, the market can’t thrive for long. India needs to recognize the potential of online gambling and direct that money within the country rather than the situation we have today.
With that being said, the Indian casino market is thoroughly enjoying all the latest tech trends in online gaming. Web casinos might exist in a legal grey area, but that hasn’t stopped players from spending hours playing games online. It’s simple, fast, and with the aforementioned technologies about to hit the market, the market will surely grow.
Imagine being able to play with cryptocurrencies in a VR setting with AR also included? The future is digital and very bright, and we couldn’t be more excited about the opportunities ahead.