MUMBAI, 6 SEPTEMBER, 2020 (GPN): Online gambling is on the rise all over the world. According to many, online gambling will become one of the most popular activities in the world. The games are attractive, both visually and auditory. The simplified gaming consoles make up for exciting gameplay in the comfort of your own home. What separates online casino games from the rest is the possibility to earn some cash prizes while playing the games. Casino games are well-known and popular, and games like roulette and poker can now be played online thanks to the platforms. Online gaming is growing in popularity in many countries, and India is definitely one of them.

Local entrepreneurs in India have shown interest in the online gambling industry. India can easily become a pioneer in the online gambling in the region. Steps away from being an online gambling destination. According to the Federation of Indian Fantasy Sports, the Indian fantasy sports market counts 90 million users. 20% of them are paying for the services, while the rest are playing it on multiple platforms.

Delta Corp, the largest and the only listed company engaged in India’s casino gaming industry, has informed the bourses about the effect of the temporary suspension of the operations due to lockdown Phase 1 from March 2020 on the company’s business.

The company said that since the third week of March 2020, the company’s operations have been stopped across all the casinos and hotels. This suspension has affected the company’s revenue of the casino and hospitality business. At present, the company’s hotel located at Daman has started its operations since June 16, 2020. Looking at the current scenario, the company’s management hopes that normalcy is likely to be gradually restored by the financial year ending March 31, 2021.

Further, the company’s online skill gaming business continues to operate and grow. Under this segment, to capitalise on the emerging trends, the company has expanded into online skill-based games such as poker and rummy. The company had strategically acquired ‘Adda52.com’, India’s largest online poker destination in 2017. With this investment, the company has consolidated its position in India’s gaming industry.

The company operates into all the formats of gaming i.e. live casinos, electronic casinos, and online gaming. As a leading player in the country, the company has established its presence at all the casino destinations in the country i.e. Goa, Sikkim, and Daman, under both offshore and land-based licenses, supplementing the casinos with hospitality assets. To spread its wings in the international markets, the company expanded its geographical operations by setting up Deltin International Casino at Hotel Marriott, in Kathmandu (Nepal). Meanwhile, the operations of Deltin International Casino started in February 2020.

Looking at the financials for the recently concluded quarter ended June 30, 2020, i.e.Q1FY21, the company’s consolidated revenue came in at Rs 48.34 crore vs Rs 186.51 crore in Q1FY20, registering 74.1 per cent YoY decline. There was no revenue under the Gaming operations segment in Q1FY21, however, revenue from online skill gaming operations jumped nearly 1.6 times in Q1FY21 as against in Q1FY20. The company has turned negative on the operational front with an operating loss of Rs 33.02 crore in Q1FY21 vs operating profit of Rs 67.72 crore in Q1FY20. The net loss for Q1FY21 came in at Rs 28.67 crore vs net profit of Rs 42.3 crore in Q1FY20.

Laws and Regulations

A large number of the Indian population enjoys gambling. One of the most popular entertainment forms in India is sports betting. Horse racing and cricket are some of the most popular sports in the country. When it comes to the regulation part, gambling in India is still prohibited by law. Only three out of 26 states have gambling legalized by law. However, online gambling wasn’t there when the law was reinforced, so no one thought that technologies would make it possible. In other words, online gambling is not prohibited by law like gambling in land-based casinos. The issue was overlooked by many professionals in the field and they found it hard to decide what’s legal and what’s not in India. Interesting enough, the law that regulates gambling in India is more than a hundred years old. Clearly, it isn’t regular online gambling in any way because it hasn’t been introduced back then.

Popularity of Gambling in India

Reportedly, 80% of Indian consumers gamble from their homes playing slots, sports, or casino games. An important thing to consider is how trustworthy and licensed the online casino site is before deciding on investing your money on it. The main reason why online gambling is gaining popularity in India is that it has a variety of online casino games that players can choose from. Leading software companies develop online casino games, which is another reason why Indians enjoy online gambling a lot. The most popular casino games like roulette and poker are also available for online gambling. Online casino sites update their offers regularly, either weekly or monthly, so players can easily find new slots on their sites. No deposit bonuses, free spins, sign-up bonuses, and how online jackpots work are some of the benefits that online casino sites in India put at your disposal.

Unlock 4.0 Improvements in Online Casino Games

One of the reasons for the huge popularity of online gambling in India are surely online casino slots. The slots have gone a long way to these slots that players enjoy playing nowadays. While it still can’t be compared to Vegas gambling and the whole glamorous gambling experience, technology has still improved a lot the visual graphic presentation, the backdrops, the sound performance, the gaming consoles, that online gambling today is really convenient in the comfort of your own home. Lately, the live dealer roulette has been a trend in the online gambling world because of the realistic gaming experience. ENDS