Gambling has always been a part of Indian culture - the Mahabharat dating back to 1500 BC involved a dice match and the rest is history.
Today cards, dice and the board have been replaced by PCs and the internet and the Indian online gambling market is estimated to be $5 billion.
Asian Poker Classic, which attracted players from all over the world, had about 80 Indian players in the tournament. Poker has been gaining traction as more and more urban young Indians take up this Card Game. More than 2000 small poker tournaments a week reportedly happen mainly in Mumbai, Delhi, Chennai and Hyderabad.
India now has 81 Million internet users of which nearly 75% are from just 4 cities (Delhi, Mumbai, Chennai and Bangalore). Men within the age group 18-35 still constitute 76% of all users. It is estimated that 52% of all users are active ecommerce users who spent an average of $2100 for online transactions in 2009
Taking an assumption of target demographics of an online gambling user -
- Age 18-35-(76% of all Users)
- Male (86% of all users)
- Active Ecommerce User (Spending $2500 a year)
- Bachelor Degree (90% of all users)
- So that gets us to 4+ Million potential users and, it is assumed that they will deposit $250 a year (Worldwide Beer Index), that's potentially a market size $ 1 billion or Rs 4600 Crores at current exchange rate.
Apart from that India's illegal betting market, which currently wagers on International sports books and Other Casino sites is more than likely to wager (at least 10% i.e. $4 Billion) with local operators as and when Online Gambling is regulated.
Published Date: Jan 06, 2010 12:07 pm | Updated Date: Jan 06, 2010 12:07 pm