Indian Gambling Market: Forecasts and Prospects Until 2029
The Indian online gambling market continues to show impressive growth rates. According to latest data, its volume will reach $8.65 billion in 2025 and could reach $10.43 billion by 2029.
This growth is accompanied by a significant increase in the number of users and advancements in technology, making India one of the most attractive countries for investors in the iGaming sector.
Key Trends and Forecasts
The Indian gambling market continues to develop due to several key factors:
- Growth of digital infrastructure: Increased internet penetration and mobile device usage contribute to the rapid growth of online gaming.
- Youth demographic: A large proportion of players aged 18-30 makes up 65-70% of the total user base.
- Growing Average Revenue Per User (ARPU): In 2025, the average revenue per user is expected to be $264.69.
By 2029, the number of users in the Indian iGaming market is expected to reach 38.6 million, confirming significant potential for further growth.
Popular Market Segments
One of the growth drivers of the Indian market is sports betting, especially cricket betting. This segment attracts the most attention both from local players and international operators.
Key players such as Bet365, Betway, and Dream11 continue to dominate the market. It is also important to note that online casinos and fantasy sports hold a significant share of the overall market.
Key Market Segments
| Segment | Popular Games | Key Players |
|---|---|---|
| Sports Betting | Cricket, Football | Bet365, Betway, Dream11 |
| Online Casinos | Teen Patti, Rummy, Poker | Adda52, Junglee Games |
| Fantasy Sports | Cricket, Football, Kabaddi | Dream11, Mobile Premier League |
Regulation and Legal Aspects
One of the main challenges faced by iGaming operators in India is the complex regulatory system, which varies from state to state. In some states, such as Sikkim and Nagaland, there are laws regulating gambling, but in other states, the situation is much less clear.
Regulation Issues
- Fragmented rules: Each state enacts its own laws, creating difficulties for operators working nationwide.
- Service tax: The 28% tax on online gaming significantly reduces operators’ profitability.
- Uncertainty regarding game rights: There is confusion between games of chance and skill-based games, creating legal ambiguity, especially for games like poker and rummy.
It is expected that India will move towards centralized regulation in the future, which will help address these issues and create clearer conditions for businesses.
Growth Prospects
The Indian online gaming market will continue to grow due to the following factors:
- Technological innovations: Investments in blockchain, Web3, and augmented reality (AR/VR) technologies could significantly impact user acquisition.
- Popularity of mobile apps: Over 80% of all bets are placed via mobile phones, confirming high interest in mobile platforms.
- Increasing share of women among players: Notably, the number of women participating in casual games is growing, which opens new opportunities for marketing and user acquisition.
Moreover, there is an expected rise in interest in games targeting small towns and rural areas, which will also contribute to expanding the audience.
Conclusion
The Indian gambling market continues to develop rapidly, opening new opportunities for both local and international operators. Key factors driving growth include digitalization, the youth demographic, and technological innovations. However, regulation and taxes remain important challenges that need to be addressed for stable industry development.