The online gaming market has been ever-evolving and ever-growing. It is presently undergoing a never seen before revolution. According to a recent report by Deloitte India, our country is one of the top five mobile gaming markets across the globe. The coronavirus outbreak along with the pandemic-induced social distancing norms has significantly pushed the growth of the market in India. The study by All India Gaming Federation highlights this very trend and states that in the year 2020, India recorded 365 million online gamers during the lockdown and that there was a 21 per cent increase in the online gaming community. It also points out that the real money gaming segment is a prominent market of the Indian online gaming industry and is presently experiencing a growth of 40 per cent. Thus, it can be rightly put that the sector has been growing exponentially and will boom in the times to come.
The emergence of the real money gaming era
While the online gaming market is constantly developing, a noteworthy trend that has been witnessed is that the business model of the gaming platforms has also undergone huge transitions. They are now gradually moving away from the volume and ad-based models to the ones that focus on diversified revenue streams built on user engagement and upscaled gaming experiences. This is where real money gaming receives a special mention as it treads on this very path!
The new-age business strategy seems to have been working in favor for this market as it has been flourishing significantly over the period of time. The sole reason for this is the shift in the user preference from video games to real money gaming. As per a report by the All India Gaming Federation, the Indian online gaming market is no longer associated with the entertainment factor. Rather users now spend time playing online to earn money and develop life skills. Surveying more than 2400 Indian gamers, the report stated that 24per cent of the players consider online gaming to earn money. A whopping 70 per cent of the gamers further claim that they play games and earn money through their smartphones!
Real money games: The players’ go-to gaming destination
Aiming to leverage the potential of the growing market, various gaming platforms are now adopting the real gaming path. How amazing is it that gamers can play their favorite games and earn real money in a safe and secure space! Some platforms also offer unified wallets where users can deposit a considerable amount of money and earn real cash by playing the games of their choice. Earlier, usually, real gaming platforms offered long gaming formats. However, over the period of time, various players have resorted to the shorter formats to capitalise with their offering of the shortest game-formats with popular titles like Mini-Ludo where users can play a whole game of Ludo for real money within three minutes which would usually takes 15-20 minutes to complete one game.
The key to earning real money is choosing the right gaming platform. These platforms require you to spend a considerable amount of money so that you can potentially earn money. With this, players get a chance at winning big with minimal efforts of playing their beloved games if their luck and hard work is in their favor!
The future of the Indian real money gaming market
As per Research and Markets report, the Indian real money gaming market is projected to grow to $3.8 billion by the end of 2024. The growing digital revolution, increasing smartphone penetration, low cost of data along with robust digital payment infrastructure allowing gamers access to instant real-time bank transactions are contributing to the growth of the market. As per a joint report by EY-All India Gaming Federation, online real money game players are expected to grow from 80 million in 2020 to 150 million by 2023.
These statistics depict that the Indian real money market is projected to grow at a significant pace in the times to come. Needless to say, players will be increasingly drawn to the real money gaming platforms primarily due to the monetary benefits that they offer.
Online gaming is no more a leisure activity in India. It has now turned into an immersive, engaging, and interactive experience. The real money gaming segment has indeed taken the online gaming experience a notch higher. Platforms are providing players a plethora of opportunities in esports, casual and cards verticals to the players to earn real money. Due to this very reason, the sector has been gaining prominence and will witness a significant growth in the number of players in the times to come!
(This article has been contributed by GMNG product head Aakash Taneja and AnimationXpress does not necessarily subscribe to these views)