The gaming industry is one of the fastest growing, most dynamic, yet least understood sectors in the Indian economy. Depending on what game, and in which State, different aspects of the industry, such as betting on sports, are regulated, banned, legal, flourishing, volatile, or prone to drastic policy changes.
In the past decade, however, legislative and judicial decisions present the opportunity to redefine gaming governance. There is now real potential to introduce clear and intuitive central regulation, as recommended by India’s Law Commission in 2018, that will increase investment, create jobs, generate Government revenue, reduce corruption, and support responsible playing.
A recent report by KPMG estimates that Indian gamers in FY 21 totalled 433 million people. At the same time, revenue from the gaming sector was estimated at INR 136 billion (approximately GBP 1.3 billion). In FY 2020, it was estimated that revenue generated from online fantasy sports alone was INR 247 millionGBP 2.4 million). Put simply, gaming is growing at a phenomenal pace. This is particularly the result of technological advancements putting greater access to information and entertainment at the fingertips of every online Indian.
At the same time, the UK already has a well developed sports betting and online gaming market. FY2021-22 (April to March) total for betting and gaming receipts was over £3,000 million, which is £237 million (8.4%) higher than the same period during the previous financial year-to-date. Sports betting, in particular football and also including horse racing and tennis as notable market shares, represents a significant component of the UK market, alongside online gambling and casino.