With the estimated value of the Indian betting market sitting at around $60 billion per year, it is easy to see why this would attract betting and casino sites from around the world.
The lucrative nature of the betting market in India is attracting lots of attention, particularly from European casino sites, with them looking to grab a piece of the Indian gambling market as soon as they can. In most cases they can market their casino sites in India by using an existing gambling license, whether it be from Malta, Curacao or UK.
Taking Advantage of the Pandemic
With the current COVID-19 crisis taking a firm grip on countries across the world, people have been forced indoors for weeks now. India is one of those countries affected, and with a population of around 1.35 billion people, there is a lot of restlessness in the air.
European casino sites are looking to take advantage of this while they can, as millions of Indians have to use online methods of gambling where they could once head out to the casinos
The rise of betting sites, in general, is no secret across the world, and most of them also offer casino options alongside their traditional sports betting markets.
This has brought in a new wave of bettors, keen to try their hands at slot machines and card games like from the comfort of their own home. This has led to huge growth in the markets, with the online betting industry in Europe alone valued around the €22 million mark.
This doesn’t seem to be enough for European betting sites, however, as they are showing signs of wanting to edge into the lucrative Indian betting market as well. Although the coronavirus pandemic has also affected those in Europe, the big names in online betting want to set their sights further afield in their hope to draw in more customers.
Online Casino comes to the Forefront
Online casinos give bettors great opportunities to make money in a different way, and with most sporting events across the world being either postponed or cancelled, there is virtually no market availability at the moment.
Some sites are still offering odds on current events and celebrity markets, but there is no doubt that the casino sections of the big betting sites will be getting the most traffic.
With people unable to bet on football games and tennis matches, their urge to win money has to be satisfied in other ways. This is why online casinos are very strong candidates for the route of expansion for existing betting sites.
Although nothing can truly emulate the atmosphere of a real casino, online versions offer almost all of the same games in various formats, making it very easy to get involved for those that are keen.
European betting sites are growing themselves internally, with more people taking up online gambling every year. However, in order to speed up that growth and grab even more of the market share, European online betting sites are looking to try and take their services to countries across the globe.
This will undoubtedly come with its own complications, both legal and technical, but with such large markets in countries like India, there is no reason for the biggest names in the business not to try and take advantage. The route to entry is much simpler when it comes to countries that are unregulated with their online gambling laws.
With the world in its current state, it will be easy for the big betting sites to put all of their focus into casino expansion.
With everyone indoors for the foreseeable future, the potential online gambling market could be at its biggest in years, and it will only continue to grow as more and more people want to try out online casinos in order to pass the time and try and make some money while they are at it.
Watch this Space
Whether or not the European sites will be able to capitalise on the COVID-19 situation, or if they will even be allowed to enter into the Indian betting market nobody knows at this point.
All we do know is that they will be trying their best to expand as quickly as possible. With a lot of businesses dangling in uncertainty amid the crisis, most betting sites will be doing all they can in order to ensure they survive. With sports betting unlikely to return to its former glory for several months at least, online casinos have their time to shine, and the European betting sites are looking to shine with them.