Following the latest financial news, it is worth noting that the gambling market of India experienced significant growth in 2021. This growth touch on both the increases in the number of players involved in gambling and a significant shift in revenue.
Chamber of Commerce in India, alongside the professional consultancy company Ernst and Young, revealed a report, which included all the shifts within the gambling market of India. As the report states, the total number of players increased from 360 million gamers in 2020 to 390 million gaming enthusiasts in 2021. In terms of percentage, the number was grown by 8%. Moreover, the report includes the forecast for the next year (2023), which says that this number should rise to 450 million if everything goes proportionally.
The increase in the total number of gaming admirers resulted in significant growth in revenue. As to compare, the year 2020 helped the industry to earn a little over 1 billion dollars (79 billion Indian Rupees), while the industry received 1.32 billion dollars (101 billion Indian Rupees) in 2021. So, it means that this growth was increased by 28%.
All these shifts caused an increase in players’ spending, resulting in growth in transaction-based game sales by 26%.
Some officials were not happy about this issue and even tried to attempt a gambling ban in the state of Karnataka. However, Kerala High Court took a decision to reject the ban.
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