Mobile and online games have continued to grow during a difficult year for everyone. Its social and economic importance to desi consumers and technology companies is increasingly recognized. Yet little is done in terms of legal regulations and national standards.
A constantly growing industry
Online gambling had already shown its potential in India when affordable smartphones and cheaper internet plans gave everyone the chance to try a new digital hobby. Casual games and card games were an instant hit, even before the Covid-19 pandemic.
But when a series of lockdowns forced most of us to stay home – to work, shop, and have fun on the internet – the trend became unmistakable. Online games have become an extremely popular type of digital entertainment. The segment picked up speed and was one of the few remaining sectors that did not suffer from physical distancing and other restrictions.
The game user base is estimated at 365 million as of mid-2020 by KPMG Media and Entertainment Report, a figure that significantly exceeds previous forecasts for the size and growth of the market. In fact, another of the Big Four Global Accounting Firms, Deloitte India determined At the start of 2021, India’s online gaming industry has recently grown by 40% per year and will reach nearly $ 3 billion by next year.
Mobile games have propelled India to second place in the global market rankings, with some data sources indicating an overall share of game downloads of 17%. During confinement, Google Play and Apple’s App Store both reported additional increases, an average of 50% over the periods. The time spent with gaming applications has also increased, Nielsen surveys to confirm. From 151 minutes, Indians now spend an average of 218 minutes playing games each week.
While games of skill are the ones providing the greatest growth – as well as excitement and competitive advantage similar to real-life activities or even sports – the distinction of the macro-segment is neither clear nor clear. legally correct as is.
Regulators must step up their game
The point is that if a online casino in india were to reveal its actual growth over the past two years, we’ll see similar numbers and trends. The real money gaming (RMG) segment has been growing steadily beyond most of the media and entertainment segments, websites like 10Cric offers a wide selection of casino games.
However, while some traditional genres like rummy or poker are considered games of skill and could be formally permitted, others like teen patti (or “Indian poker” as outsiders know) would escape the control. any practice or legal recognition. The same goes for timeless classics like ludo, carom or even chess. If played in free formats, they could be perfectly legitimate, while paid gaming apps could be formally banned in some states.
In the end, the online RMG sector has been developing âin the darkâ for several years. The lack of clear market regulations and legal definitions – mainly at the central level – does not hinder it as a social phenomenon. But this prevents the industry from capitalizing on a growing trend and offers Bharath’s tech companies the opportunity to attract more (foreign) investment, crucial for the sector’s innovation potential and competitive advantage, experts say. .