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Are you thinking about starting your own gambling venture in India? If yes, then it is also important to understand which type of online gambling business will be a great start in 2024.
As you know, gambling in India is a complex picture wherein defining whether gambling is legal or not legal is already a hurdle. Therefore, understanding the gambling scenario in India is essential for venturing it as a business.
But don't you worry, we've got you all covered. This article will be a great help for you in terms of clearing your vision about the best online gambling business ideas in India.
By reading this piece, you will get a better understanding of which online gambling business will be a profitable venture. Therefore, we recommend you read the complete article and learn the best online gambling business ideas that you can work on in 2024 and become a part of the billion-dollar industry.
Before diving into the details of online gambling business ideas, you should understand why it's a great industry for your new online gaming venture.
Gambling is already a big picture in the history of gambling in India. It has been more than decades since the gambling activity keeps growing and expanding its shadow all over the world.
Here, let us understand the current scenario of online gambling in India. According to the Statista report,
Source: Statista Market Insights
The above image shows the rise in the previous and current market sizes, plus the estimation of future market growth of online casinos and sports betting in India, both of which fall under the gambling category.
These rising boxes are very thriving and have led many gambling entrepreneurs to start their own businesses and become a reputable venture in India and worldwide. By understanding these metrics, you can easily define your core business goals and requirements to venture into the online gambling industry successfully.
Here, let’s explore the best online gambling business ideas in India that can help you achieve great success in the gaming industry.
Online Casino
Operating a land-based casino is something that is way too expensive, and, in 2024, is not worth it if you don't want to run your business in one permanent location. Then the alternative option is an online casino. Starting an online casino is a great and highly profitable venture in the Indian gaming market.
The online casino can be operated through a website or any other online platform. With the advancement of high-speed 5G connectivity and modern technologies, all these have empowered each casino game development company to make flawless casino websites that can handle billions of users' databases. Venturing into an online casino industry is less costly and requires fewer staff members to handle the business.
Also Read - How to Start an Online Casino Business in India
Do you know how advantageous is it to have an online casino website?
On your online casino website, you can include diverse popular games like Poker, Teen Patti, Slots, Dragon vs Tiger, and many more. These games have been a spectacular attraction for the online game lovers in India. By offering these games, your online gambling business success rate increases significantly.
But, what will you need to start your own online casino business in India?
Fantasy Sports Platform
Fantasy sports is another most accepted online gambling business in India. Apps like MPL, Dream11, MY11Circle, etc., are a few examples of successful fantasy sports ventures in India.
These apps allow users to play a wide range of casual, shooter, action, and sports games.
The main headline of these types of apps is they also provide opportunities to earn huge case rewards after winning the challenge.
Fantasy sports app development is a significant online gambling business venture that has the ability to provide you access to a large user base, higher profitability, and spectacular brand recognition in the industry.
The characteristics of fantasy sports, such as challenging cash leagues, have gained the most positive response. The players are more propounded by the quality and value-driven gamification features of fantasy sports applications. This is a great online gambling business idea that can be launched instantly in India.
Sports Betting Platform
Another best gambling business idea for betting enthusiasts is operating an online sports betting platform. Sports betting is one of the most underrated but highly profitable ventures in India that can boost your business to the next level. Starting a successful online sports betting business in India requires consideration of some important points. The key considerations are;
By acknowledging these factors, you can start your sports betting venture successfully in India and other legal regions. So, what comes under sports betting? The answer is all the sports like cricket, football, hockey, tennis, basketball, ice hockey, rugby, etc. In sports betting, users place bets on one side: winning or losing. Moreover, there are some side bets as well that depends on the platform offerings.
As betting comes under illegal affairs, you can start your own sports betting website with in-demand features and functionalities. However, you need to know how to make a sports betting website that stands out the best among others.
You’ll have to decide which gaming content is more beneficial for your platform if you venture into India; only then can you launch your business successfully in the market.
Read It As Well - Sports Betting App Development Cost & Features
Online casinos, fantasy sports, and sports betting are excellent choices for your online gambling business in India. However, these ventures are highly expensive and require proper research, planning, a high budget, and further implementations.
But not every startup can afford these expensive ventures, so what about them? Below are some popular and in-demanding gaming business ideas in India that require low investments:
Rummy Platforms
Rummy is a popular and highly engaging card game in India and also in other parts of the world. It's a game of skill wherein the player's goal is to form and arrange all 13 cards in valid sequences and sets and declare the hands first to win.
You can develop a platform like a dedicated mobile app or website that allows users to play Rummy with their friends or compete in tournaments. There are various revenue models that can be implemented or used to generate revenue for the business.
As an operator, you can charge a commission on the entry fees for tournaments. It's a great gaming business idea in India with low investment requirements.
Might Be Interested In - Best Rummy Earning Apps
Poker Platform
Poker is one of the most exciting and popular online gambling games in India and worldwide. It combines skill as well as strategy that have attracted a diverse player base.
Launching a poker platform is no complex task, but to set it up, you’ll need a robust poker software development solution that can handle heavy users, provide real-time updates, and secure transactions. Therefore, the best way to start a poker business is to partner with a reliable poker software provider.
The platform should be integrated with top-class functionalities like a user-friendly interface, secure payment options, multiplayer functionality, and many more. However, boosting your poker gambling business in India is a complicated task due to uncertain legality aspects.
However, the best way to do that is to leverage social media platforms and affiliate marketing. Features and marketing strategies are a good start, but what about revenue? Gaming businesses use various revenue generation models to boost their revenue. You can generate revenue significantly for your business through multiple models like:
Rake - Operators charge a small percentage of each pot.
Tournaments – Operators host entry-fee tournaments with attractive prize pools.
Freemium Model – This model offer free games with the option to purchase premium features.
Roulette Platform
Roulette is a classic casino game that translates well to online platforms. Its simplicity and exciting gameplay mechanics makes it a favorite casino game among gamblers.
Invest in high-quality roulette software that provides a realistic gaming experience, including random number generation for fair play.
Enhancing the experience with live dealers and ensuring the game runs smoothly on mobile devices are essential.
To attract customers, offer sign-up bonuses and ongoing promotions, and use email marketing to retain customers by sending them personalized offers and updates.
Monetize your roulette platform by earning revenue from each bet placed, displaying ads from relevant businesses, and offering VIP memberships with exclusive benefits.
Also Read - Roulette Game Development Cost
Slots Platform
Slot machines are easy to play and highly addictive, making them a staple in any online casino. Develop a variety of slot games to keep players engaged, focusing on high-quality graphics, sound effects, and themes that appeal to different demographics.
Offer games with progressive jackpots to attract big spenders, including exciting bonus rounds to increase player engagement. Provide games with multiple pay lines for more winning opportunities.
Promote your slot games through targeted social media campaigns and engaging content around your slot games to attract organic traffic.
Revenue opportunities include:
Online gambling in India is skyrocketing as bettors and punters show a heavy interest in this industry. Venturing into the online gambling business in India in 2024 is offering an exciting and potentially lucrative opportunity. With the evergreen market size of gambling in India, it is projected to rise up significantly in upcoming years. There are various avenues to explore, from online casino and sports betting platforms to fantasy sports and card games like Rummy and Poker. All these gaming segments are excellent choices for your online gambling business in India.
Of course, each option has its own set of advantages and challenges, but with proper market research, the right planning, an understanding of legal frameworks in India, and an innovative approach, it becomes much easier to start your business online, even in the competitive market.
Whether you aim to start a large-scale gambling operation or a low-investment online gambling business, the Indian online gambling market is ripe for exploration and growth. Make sure you stay informed about new trends and the latest technologies; this will help your business stand out and flourish in this dynamic industry.
Q: Is launching an online gambling business in India profitable?
A: Yes, the online gambling industry in India is growing rapidly, offering numerous profitable opportunities, especially with the projected market growth and increasing internet penetration.
Q: Is online gambling legal in India?
A: The legality of online gambling in India is complex and varies by state regulated laws. Therefore, it is essential to understand the specific regulations of the state where you plan to operate in India.
Q: How do I start an online gambling platform in India?
A: Starting an online gambling business in India involves thorough market research, obtaining the necessary licenses, choosing a reliable software provider, and ensuring compliance with local laws.
Q: Is it legal to operate an online gambling website in India?
A: It depends on the state. Some states have legalized online gambling with specific regulations, while others have restrictions. Consulting with legal experts is crucial to navigate these regulations.
Q: How much does it cost to make an online gambling website?
A: The cost of developing a gambling website varies depending on the complexity of the website, the range of features, the quality of the software, and many more. However, It can range from a $15,000 to $100,000 with demanding features and functionalities.
Q: How do you get a gambling license in India?
A: Obtaining a gambling license in India involves applying to the relevant state authorities, meeting all regulatory requirements, and paying the necessary fees. It's advisable to consult with legal professionals to guide you through the process.
DC Kumawat is the CEO of Orion InfoSolutions, a leading provider of IT solutions to businesses of all sizes. He has over 14+ years of experience in the IT industry. He is a passionate advocate for the use of technology to improve business performance.