The term iGaming is generally used to refer to online casino games, as well as the software that goes into supporting this endeavour. The industry has been steadily growing in India, and many now believe that it could actually turn out to be an essential part of the nation’s plan to become a $5 trillion economy. Promoting tech-enabled development is one of the main aspects of this plan, meaning that online casinos would obviously have a part to play as well.
Cross-industry growth
India has something of a reputation as a country of gamers. According to studies, as of 2023, the nation has approximately 442 million online gamers. This shows a considerable increase compared to 2022, when the figure stood at 421 million players, which in turn delivered a growth rate of 8% compared to 2021. Some, however, estimate that the numbers still don’t show the full reality and that there are, in fact, over 500 million active gamers in India. Despite the size, the industry is still in its incipient stages.
Less than half of the country’s population is currently engaged in online gaming. However, the engagement rates will likely become even higher as time passes. This is especially true for the younger generation, as young adults are certainly more familiar with the internet and online space than their parents. The iGaming industry is part of this trend as well, playing an important role in the growth of the ecosystem.
The development of this sector has signalled the introduction of more opportunities for several other related industries. Affiliate marketing and media buying are the most prominent examples, but even digital marketing and TV advertisements have benefitted from the rise of iGaming companies. Therefore, when online casinos reach wider audiences, other industries get a significant boost in their growth as well.
Bonus schemes
Most casinos offer match bonuses after the initial welcome bonuses. This deposit matches the first deposit a customer made into their casino account and can be used to play games that will get you actual returns. The expected amount depends on the initial deposit as well as the set percentage. It can be 50% or even 200% or more, meaning that you are eligible to win rewards twice as large as the initial sum.
The welcome bonus, however, remains the most popular one. It combines the deposit bonus and free spins. However, it is chiefly available to new players that are signing up for the first time on an online platform. The main advantage of a welcome bonus casino is that it provides players with extra cash, and this is something that nobody could ever refuse. More funds mean an increased chance of winning the larger prizes or jackpots, so it is plain to see why they’re a popular addition to the games.
These bonuses also typically include additional features, such as direct access to VIP or other special programs. For this reason, they’re considered one of the main contributors behind the development of this sector.
The advantages
It would be reductive to claim that the only way in which bonuses are helping online casinos is by increasing wins. There are several other essential aspects to be considered. One of them is the increasing variety of games. The bonuses enable players to try different games without risking their own finances. This is important, particularly if you’re trying something new and aren’t sure how likely you are to be successful. Therefore, some of the risks associated with playing a particular game can be minimised. Some games also require more complex strategies, and getting the hang of them from the beginning can be difficult. Bonuses allow you to try them out even if you haven’t perfectly honed your skills.
Bonuses also mean that there are higher payouts. Players can make the most of their time and money when gambling online. This is a crucial factor in the continuous growth of the business area, positioning bonuses as one of the main reasons online casinos have enjoyed increasing popularity recently. The rewards are also a way to attract a more diverse player base that can help the establishments remain relevant despite the challenges of a competitive market that’s constantly changing and developing.
The future
Players want to be rewarded for their loyalty to a casino platform. There’s no better way to achieve this than through the use of bonuses. As technology develops and the use of artificial intelligence becomes more commonplace across all business sectors, online casinos can use data analytics to bring personalisation into the bonus offers. Tailor bonuses to an individual’s interests based on preferences, gaming habits and user behaviour is the best way to ensure a smoother, seamless customer experience.
Moreover, these bonuses can foster the development of long-term loyalty among customers. This is no small feat considering the fact that there are so many companies out there that offer roughly the same services. The ones that have been in business for longer might be unable to keep up with the newcomers. Yet, retaining customers is an essential aspect of business development. Customisation goes above the one-size-fits-all marketing approach and ensures customers feel valued.
For instance, someone who enjoys slot games could receive free spins as a personal reward. Blackjack enthusiasts can get bonus offers that are specific to different tables, and so on. Enhanced player experience can help all businesses stay afloat and even increase their revenue. The industry can develop and become more profitable when individual companies perform well. This, in turn, means that the economy will receive a boost, showing that a chain reaction promoting higher gains and development can be started solely by introducing bonuses.
To sum up, the iGaming industry in India is set for continuous growth over the next couple of years. While it has been developing over the past few years, it shows no signs of halting its progress anytime soon. It could even be a key part of India’s plan to become a $5 trillion economy by 2025, perhaps a $10 trillion one five years later. iGaming has been a trailblazer for the larger gaming environment, and it seems set to help even more industries grow.