The Indian gaming industry has been rising rapidly in recent years. Although the increased tax burdens did dampen its growth for a while, it is still expanding fast.
The reports revealed that the Indian gaming industry is expected to grow with a massive CAGR of 15% till the end of 2028.
And the online money games played a big role in it.
The Rise of Online Money Gaming as Digital Sports
The gaming industry in India is expected to cross $3.22 billion by the end of 2024. At this moment, it has already surpassed the national film industry, becoming the fourth-largest entertainment industry in the country.
Surprisingly, money-making games make up for up to 80% of the whole yearly revenue of the gaming industry.Â
From the point of view of finance experts, the growth of online gaming apps and platforms is closely related to the growth of the Indian gaming industry.
According to the reports, nearly 100 million Indians stay online to play games every day. And a large portion of them spend their time playing online money games like rummy, dice, cards, etc.
Even though the government has imposed a massive GST on the gaming sector, it does not seem to discourage Indian money game players. As a result, the tax burdens have a very limited influence on the expansion of the online gaming vertical.
The Expansion of Online Money Games around the Nation
The reach of online gaming in India has expanded far beyond the urban areas. Since over 90% of Indians prefer playing online games on their mobile devices, the gaming industry has expanded as fast as smartphone sales.
A report revealed that 60% of mobile gamers play games at least once a day. Meanwhile, a lion’s share of online money gamers log into money-gaming platforms at least once a week.
Moreover, over 43% of the money game players actually live outside of the metro cities and urban areas.
The growth of the gaming industry in India is faster than any other country in the world. Right now, the Indian gaming community is 558 million strong, which downloaded nearly 9.5 billion games in 2023 alone.
144 million of these gamers participated in online money gaming.
Experts expect the national gaming community to grow to 916 million by the end of 2028. Around 240 million of these players are expected to be involved in online money gaming platforms.
By then, the market share of the gaming industry would inflate to $6 billion, with 79% of its revenue coming from money-making games.
Techs that Secured the Rise of Online Money Games
The latest tech developments played a big part in the continuous expansion of the online gaming sector.
Fraud detection, bot detection, foul-play identification, and many other tech innovations made online money gaming apps more secure, earning their users’ trust.
Plus, the introduction of blockchain technology makes online transactions and game results more secure and verifiable.
But there’s more. The tech innovations played a big role in increasing the entertainment value of online games, especially money-making games. AR, VR, and cross-platform compatibility made the gaming experience smoother and more fulfilling.
Thanks to these technologies, the user base of money games like rummy, color prediction, fantasy sports, and poker games increased rapidly. And the growth rate hasn’t slowed down yet.
Wrapping Up
Online money games are playing a significant role in the revolution of the Indian gaming industry. The growth of the national gaming sector is so fast that the Indian gaming market is attracting the attention of many global leaders in the sports industry.
The recent tech innovations, the popularity of smartphones, and many other factors are influencing the growth of online money games.Â
These elements played a vital role in making money sports one of the biggest influencers of the national gaming market.
