The more recent history of gambling in India entails transitioning from traditional gambling to modern online options. That came about during the mid to late 1990s after the internet entered the public domain. At the time, very few people knew about online gambling. The government also imposed hefty taxes on online casino operators, which discouraged them from operating. It took several years and influence from Europe and America to popularize online gambling in the country.
Sports betting played the most significant role in popularizing online gambling in India. That is particularly true for cricket, which to date is still the most popular sport in the country.
Significant changes in the history of gambling in India
One significant change to the gambling industry in India in recent history happened in 1867. That was when the Public Gambling Act was passed into law. The law resulted in nearly all casinos closing down as most gambling games and lotteries became illegal. However, the business continued to thrive underground. After gaining independence, the 29 different states in India were allowed to govern gambling themselves. As a result, gambling became legalized in some states, albeit with numerous regulations.
Future of esports betting in India
Currently, eSports betting accounts for approximately 5% of all forms of online gambling, which is significant considering how relatively new it is compared to the traditional markets. Experts predict that the percentage will more than likely triple within a few years. They also expect that eSports betting will eventually be the most popular online gambling market. That is because eSports events are reliable, given that they are typically the least affected by any natural occurrences, as was proven during the height of the COVID-19 pandemic. eSports betting is also quite fun.
eSports betting providers are will also play a significant role in the growth in India. For starters, they will more than likely introduce more betting opportunities, feature more new and innovative games, and provide lucrative offers to attract more punters. Improving technologies and increased access to the internet will also contribute to the growth of eSports in India.