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The Value of India’s Gambling Market

Updated on by Mattias Fröbrant

India, rich in its myriad of cultures and customs, is also experiencing a remarkable uptick in its gambling market. The Indian gaming domain is transforming rapidly, estimated to touch a whopping $130 billion with a commendable yearly growth rate of 7%, as indicated in a recent study by KPMG.

But which elements are fueling this rapid growth? And how does the Indian gambling arena fare when juxtaposed with other markets, such as Brazil? Let's unravel the statistics and tendencies that characterize the Indian gambling ecosystem.

How Much is India's Casino Gambling Market Worth?

KPMG's 2019 study revealed that the Indian gambling arena clocked in at an astounding $130 billion (₹950,000 crores). This indicates a noteworthy growth trajectory of about 7% in the last six years.

Such figures underscore the immense potential of this largely unchartered gambling realm in terms of both entertainment and economic contributions. The Indian gambling sphere has confidently made its mark globally, and its upward trend appears relentless.

The size of this market hints at a bright horizon for tax collections in India. By the fiscal stretch of 2027-2028, online gambling sites could pour in close to ₹1 lakh crore in yearly tax contributions.

Upon successful streamlining of the entire gambling domain, the tax earnings might eclipse ₹9 lakh crore within the same financial period, marking a critical revenue stream for the Indian administration, far surpassing the current collections.

How Much is India's Casino Gambling Market Worth

With 938 million smartphone users in 2022, coupled with an anticipated mobile gaming market of over $1.1 billion by 2023's end, the avenues for expansion are limitless. By 2023's culmination, projections suggest the Indian cricket wagering segment could hover around 2 billion US dollars.

Comparing With Brazil – Another Unregulated Country

India's surging gambling market invites an interesting contrast with Brazil, another largely unregulated terrain. Brazil's penchant for online gaming platforms is ascending, with annual expenditures ranging between R$2 and 10 billion on international online casinos and betting establishments.

According to https://www.kto.com/pt/, this amounts to a significant R$3 billion in missed tax and social contributions, with added advantages reaching the industry's workforce. Contemporary data pins this at a collective market valuation of 2 billion dollars, a third of which could potentially enhance the nation's tax coffers.

28% Goods and Services Tax on the Gambling Industry

India's decision to impose a 28% GST on online gambling deposits heralds a pivotal change in the gaming sector's dynamics. Set to be implemented from 1 October, this tax is anticipated to wield extensive repercussions for the industry and its enthusiasts.

The Scope of the Tax

Contrary to the hopes of many industry stakeholders, the GST Council has chosen to levy the tax on the total deposit, rather than just the gross gaming revenues. This method signifies a marked shift from the conventional tax frameworks prevalent in the gambling sphere, which typically target the operators' earnings.

From Grey to Gold – India's Gambling Market's Potential

In essence, both India and Brazil's gambling sectors exude considerable growth prospects. Armed with technological progress and a surging mobile user base, India stands on the cusp of monumental growth. 

Concurrently, Brazil's unregulated gaming space flourishes, with vast implications for tax inflows and the broader economic fabric. As both nations sail through the intricate waters of gambling oversight, their markets herald both intriguing prospects and trials ahead.

Mattias Fröbrant is a passionate iGaming journalist renowned for his comprehensive reviews of over 300 gambling sites in India. With a remarkable 17-year gambling experience and a background working for industry giants like Betsson Group, Mattias has earned recognition as a leading expert in the Indian online gambling field.

At GamblingBaba, Mattias’s commitment to providing accurate and easily digestible information shines through meticulously researched reviews, guides, and news articles. His strong belief in honesty and transparency ensures that readers receive the most reliable insights on the Indian gambling landscape.

To get in touch with Mattias, connect via Linkedin.

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