Mobile betting the biggest opportunity for online gambling in emerging markets such as India
Published by: Richard Fleming
16th January 2014
With continued evolution of various emerging markets such as online betting in India potentially become regulated, it seems that the consumer will dictate the way in which companies provide these services. Recently Sikkim announced it had planned to open up a series of betting licences to regulated operators which has everyone talking. (Hindustan Times)
Mobile betting apps the future of consumer interactions
Rather than the land based website approach, it's highly likely that markets such as India and South East Asia will "jump" forward to purely mobile based applications. Given the substantial representation in these markets from mobile penetration, India for example already having over 813M mobile subscribers in October 2013 (Wikipedia) it seems logically that these technologies of convenience, speed and reliability are at the forefront of consumer experiences when betting on sport.
Companies such as Ladbrokes, bet365 and William Hill invest millions of dollars into their mobile betting platforms, offering customers with a smart phone native or browser based apps. With mobile betting contributing upwards of 40% of total turnover for these companies (EGR Magazine. 2013), mobile applications will be the driver for the growth of betting markets in places like India as they become regulated.
Indian betting markets have been estimated to worth up to US$60B per annum, with the large majority being bet on cricket, tennis and NBA.
Growth of online betting & gambling markets
The global online betting & gambling markets have continued to see consistently strong CAGR rates in the double digits. The overall global industry is currently estimated at $330B (H2 Gaming Capital) with mobile betting apps contributing an increasing percentage of betting activities.