Gambling is a growing industry in India and enjoys popularity in physical as well as online formats. Over the past five years, the Indian gaming and gambling sector has attracted $2.8 billion in investments from both domestic and global sources.
In India, gambling is constitutionally recognised as legal and states are empowered to make laws governing it. The 1867 Public Gambling Act exempts games of skill from its purview and creates a distinction between skill-based and chance-based games.
A 1967 Supreme Court ruling distinguished rummy as a skill-based game. Post independence many states enacted laws based on the PGA, some prohibiting gambling altogether.
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Online gambling operates in a legal grey area as existing laws don't address it. States like Goa and Sikkim regulate or allow online gambling. Despite this, online gambling continues across the country.
Gaming operators not only entertain but also significantly contribute to job opportunities. Forecasts suggest a 20% growth rate in the sector by FY25, projecting a market value of INR 231 billion.
India has the largest fantasy sports market with a user base of 180 million. Projections indicate a growth of 33%, reaching INR 25,300 crore by FY27. India has seen the emergence of Game 24X7, Dream11, and Mobile Premier League in the gambling segment.
If you want to hop on this train and earn good returns, here is a list of top stocks that are booming in the casino segment:
Delta Corp
Delta Corp is India's sole listed casino operator, managing three offshore gaming vessels in Goa's Mandovi River, an all-suite hotel, an onshore casino in north Goa, an integrated resort in Daman, and land-based casinos in Sikkim and Nepal.
It also operates adda52.com which is an online gaming platform.
Nazara Technologies
Nazara Technologies is a mobile gaming company and sports media platform, offering interactive gaming and eSports. It owns popular titles such as the World Cricket Championship, CarromClash, and Classic Rummy. The company has various gaming and eSports ventures contributing to its revenue, totalling Rs 406.3 crore from gaming in 2022-23.
OnMobile Global
OnMobile Global is into mobile gaming products and offers services through both business-to-business (B2B) and direct-to-consumer (D2C) channels. The company has 28.7 million mobile gaming subscribers as of September 30, 2023. OnMobile Global has low debt and has experienced notable growth in its 12-month trailing earnings per share.
Zensar Technologies
Zensar Technologies is a software services company providing application services for gaming equipment manufacturers and online gaming software companies. It operates a game testing centre offering end-to-end testing platforms for gaming companies.
India offers a variety of factors contributing to its allure in the world of gambling. Here is why India stands out as a prime location for such activities:
- The rich tradition of skill-based games: Alongside games of chance, India has a longstanding heritage of skill-based games like chess and rummy. These games appeal to players who enjoy testing their abilities rather than relying solely on luck.
- Legal framework: While the legal landscape of gambling varies across states in India, certain regions such as Goa, Daman, and Sikkim have established a legal framework for gambling activities. These states have licensed casinos and a regulated and secure environment for gamblers.
- Online gambling opportunities: Numerous reputable online casinos and betting platforms cater to Indian players by offering a convenient and accessible avenue for indulging in gambling from the comfort of one's home.
- Growing casino industry: India's casino industry is experiencing steady growth, witnessing the establishment of new casinos. This expansion not only creates employment opportunities but also boosts the tourism sector and contributes to the overall economic development of the nation.
- Cultural diversity: India's diverse regions harbour their unique gambling traditions, rituals, and customs. Exploring these varied gambling practices can offer players a fascinating and enriching cultural experience.
Conclusion
In recent years, India has emerged as the global leader in terms of mobile gaming market size, with a substantial number of gamers and app downloads. You must approach gambling responsibly and adhere to the legal regulations and age restrictions enforced in respective jurisdictions.
Nevertheless, there's been an increasing demand for regulation within the casino and gaming industry, hence doing proper due diligence before investing in these stocks is advised.
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