Softbank Group, Alibaba Group, and Tencent Holdings are investing in India gambling loopholes. In fact, mobile apps use loopholes to avoid anti-gambling rules and regulations. The apps offer cash prizes, iPhones, and vacations overseas.
An estimated 300 million people play apps, including Play Games24x7, FanFight, and Dream11. The apps allow players to wager on card games and fantasy cricket. According to SportsBettingSolutionAsia.com, sales can reach around $3.3 billion. As a result, Mukesh Ambani, the country’s richest man, declared that the industry would surpass movies, TV shows, and music combined.
People are spending more time on games than other forms of entertainment in India. Also, players are more likely to keep playing when apps offer them prizes in return. That why new companies want to be part of India’s growing gaming industry.
The gaming industry in India is growing at a fast rate. The online industry is going strong due to India’s youth population, which is the largest in the world. Also, the country has the second-biggest online penetration worldwide.
India Gambling Loopholes
Although video streaming and e-commerce are becoming more popular, internet gaming is the better deal. According to bookie pay per head sources, individual transactions make running gaming apps profitable. Also, operators don’t need to invest in inventory, content, or logistics.
Indians prefer playing for prizes and cash, instead of watching videos or playing games that don’t have rewards. A third of the country’s 1.3 billion population use the internet daily. Most of them access the internet through budget phones with affordable data plans.
Based on sportsbook pay per head providers, India’s smartphone industry was growing at a rate of ten percent before the pandemic. Also, 90 percent of gaming in the country is though phones. As a result, Tencent and Alibaba find it attractive because they designed their ecosystem around smartphones.