Online Casino Transfer: News - $5 Billion Potential in India

01/16/2010		Online Casino Style: News $5 Billion Potential in India
Home History Games News Dictionary		Some fantastic new numbers have become available, estimating that the Indian internet gambling market could be worth as much as $5 billion in profits, if the rate of growth continues. Online gambling’s penetration is on the rise in India, and an analysis of the demographics by Tech2 shows that billions of dollars in revenue potential is within reach in the next couple of years. The article was published in the Indian publication Tech2, which adeptly pointed out that gambling has played a dominant role in the Indian culture for hundreds of years, though the recent decades have replaced physical cards, dice and boards with internet gambling sites and personal computers. In the cities Mumbai, Delhi, Chennai and Hyderabad combined, more than 2,000 small poker tournaments take place a week, showing a healthy interest in traditional casino games. The nation currently has about 81 million internet users, most of which reside in major cities such as Bangalore, Chennai, Delhi and Mumbai. Seventy-six percent of all users are men, between the ages of 18 to 35, and more than half (52 percent) are e-commerce customers, spending an average of $2,100 in online transactions last year. Of those who frequent the web, 90 percent carry a Bachelor’s degree. College-educated men, under the age of 40 – the statistics of those who mostly use the internet in India is the perfect breeding ground for a successful internet gambling industry. With more than 4 million potential customers at hand, the interest that many online casinos are showing in developing products for the region is far from surprising. India’s current market is primarily black, meaning that the bulk of gambling is done over the internet, in prohibited sites. Internet sports books do a lot of profitable business, and should they become legal, combined with online casinos, the result would be upwards of $4 billion annually in profits. The first step has already been taken, as the local province of Sikkim has legalized official licensing, provided companies join with local operators in their site establishment.

01/16/2010

Online Casino Style: News
$5 Billion Potential in India

Some fantastic new numbers have become available, estimating that the Indian internet gambling market could be worth as much as $5 billion in profits, if the rate of growth continues. Online gambling’s penetration is on the rise in India, and an analysis of the demographics by Tech2 shows that billions of dollars in revenue potential is within reach in the next couple of years.

The article was published in the Indian publication Tech2, which adeptly pointed out that gambling has played a dominant role in the Indian culture for hundreds of years, though the recent decades have replaced physical cards, dice and boards with internet gambling sites and personal computers. In the cities Mumbai, Delhi, Chennai and Hyderabad combined, more than 2,000 small poker tournaments take place a week, showing a healthy interest in traditional casino games. The nation currently has about 81 million internet users, most of which reside in major cities such as Bangalore, Chennai, Delhi and Mumbai. Seventy-six percent of all users are men, between the ages of 18 to 35, and more than half (52 percent) are e-commerce customers, spending an average of $2,100 in online transactions last year.

Of those who frequent the web, 90 percent carry a Bachelor’s degree. College-educated men, under the age of 40 – the statistics of those who mostly use the internet in India is the perfect breeding ground for a successful internet gambling industry. With more than 4 million potential customers at hand, the interest that many online casinos are showing in developing products for the region is far from surprising.

India’s current market is primarily black, meaning that the bulk of gambling is done over the internet, in prohibited sites. Internet sports books do a lot of profitable business, and should they become legal, combined with online casinos, the result would be upwards of $4 billion annually in profits. The first step has already been taken, as the local province of Sikkim has legalized official licensing, provided companies join with local operators in their site establishment.