Poker Industry In India
Posted : admin On 4/7/2022What led to the success of a gambling industry in India and? The legal status of the gambling. Currently, India is actively considering the full legalization of the gambling business, while illegal bookmakers are flourishing, which mainly rely on football and cricket. Apart from Goa, the excitement can only be experienced in Sikkim and Daman. The booming popularity of poker in India cannot be doubted. Although there is a deficiency of a uniform legal jurisprudence on the matter, but more and more states through the medium of their high courts are conferring the ‘game of skill’ distinction on poker. The Supreme Court of India in its judgment in State of Bombay v. The online poker industry falls beneath the actual money gambling umbrella and India has adopted the electronic medium quite well. Currently, the business is worth Rs 400 crores and is a significant source of trade and earnings in India with many entities exploring and investing in the internet poker space. Any sort of negative ruling against poker in india would definitely set the industry back in general, although the main problem with regard to this is how the game is perceived in the country. Because Indian Poker Market is considered as an emerging market, many people aren’t actually informed or educated in the nuances of it.
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With the Internet and augmented reality in social networks on the rise, we are most likely to deal almost everything online and the game of poker is no exception. Poker, like entrepreneurship, is a game of skill. Keep an eye on the competition and develop a winning strategy. Similarly, entrepreneurship is a high stakes game where you're battling against the odds. Given the similarities between poker and starting your own company, it should come as no surprise that poker pros are drawn to the entrepreneurial lifestyle.
In a study released in May 2018, it stated that the online gaming industry is worth a staggering $116 Billion, whereas Television is worth $105 Billion. Furthermore, we cannot forget that the gaming industry has gone up over 10per cent, while the Television industry’s growth has gone down by 8per cent.
In the last couple of years, Poker has seen increased acceptance and popularity in the US, the UK, China and other European nations and now the card game online has also begun to gain immense traction in India. The ever-growing number of online poker players is a testament to the incredible popularity this sport has gained over the years. People in India have begun to recognise poker as a game of skill rather than gambling. This is one of the major reasons why a large number of players are opting for poker in comparison to other available options.
Statistics published by KPMG shows that the online gaming industry in India is estimated to be INR 4,380 crore (FY18) which is projected to grow at a CAGR of 22.1per cent to touch INR 11,880 crore by FY2023. Within this, online card games are growing at 50-100per cent year-on-year. It is believed that there are more than two lakh active poker players in India. Metros such as Bangalore, Kolkata and Ahmedabad have started to embrace online poker to an extent that the opening of new poker clubs is expected every month from here on.
As E-Sports as a category is gaining traction in India, investors are cashing in on this rapidly growing segment that holds promise for a multitude of monetization opportunities. Investing in poker online offer benefits over traditional land games because:
Device Fragmentation: Over the past two decades, online gaming has grown into a worldwide phenomenon. The ever-growing number of online players among children and adults alike is a testament to the incredible popularity this e-sport has gained over the years. The online gaming industry witnessed a boom when affordable and smartphone scene made it big in the Indian market. Games as simple as Candy Crush and Subway Surfers played casually on smartphones to Dota 2 and Counter-Strike duked out by hardcore players brought a new wave of mobile gaming in India. In terms of revenue, sub-genre games such as Poker dominated the grossing charts and grew the revenue of app developing companies. This will likely continue in 2019 with Poker games sub-genre becoming stronger and bigger.
Ageing Customers: Rising smartphone users created a stable marketplace for the mobile gaming sector, as users are constantly on the lookout for new forms of entertainment. The ageing population in particular, who grew up playing Super Mario, Pacman now have spending power and increased accessibility to online games. They are more willing to access gaming content at the tap of a screen.
Low Infrastructural Cost: It is relatively a lengthy process for obtaining licenses for casino business in India and the time and costs involved in setting up the requisite infrastructure is high. Online poker game cuts off the cost of buying a casino which could be 10 times higher than spending at online poker website.
Larger Target Audience: Online poker game attracts global customers and is easily accessible for the players and sports enthusiasts who do not want to visit a live casino or dislike visiting it to play a poker game. This contributes to esports’ allure and its generation of a globally engaged fan base.
Scalability: Traditional sports have physical/spacial limitations, e-sports is more fast-paced and scalable because of its reliance on digital platforms.
Mobile gamification has certainly brought a new trend and this is the ideal time to capitalize. In business, as in the world of gaming, all you need is the willingness to take risks, hustle to get gain traction and trust in your skills if you want your company to hit the jackpot.
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The market for online versions of games such as Poker has grown tremendously during this period of lockdown as people battle boredom, stress, and loneliness amid continued physical distancing. It is one of the biggest winners in the online gaming industry. Poker, the refuge of the bored, lonely, and thrill-seeking Indian in lockdown.
India’s poker industry was already in a major growth phase in 2019, and now, after the lockdown, it seems to have burgeoned further. There are professional players, too, who make their entire living out of playing the game, like players of any other sport do. Poker is coming up with so many new innovative features such as 3D Poker & Live Poker.
3D Poker: It features 3D formats of personalized Avatars
Live Poker: It provides a real-world experience of playing and conversing with real players online
Benefits:
- The users can invite their friends and family and play the game for real cash or virtual coins while sitting in their own space
- Brought people during the times of pandemic
- Real-world experience to its users like real-world dealer’s commentary exchange mocking gifs, club room ambiance, personalized 3D avatar
Poker Industry In India Rupees
- Advanced secured features, the payment gateway to maintain high-security standards for the userssil