Goa Goal: SBGI to Bring iGaming to India Next FebruaryPublished June 29, 2017 by Lee R
A great opportunity to bring needed revenues to India via iGaming shapes up.
The iGaming world is spreading to more and more developing economies whom have been relatively cut off from global economic prosperity or exchange until now.
India is an industrious country with overwhelming population and poverty issues. But like other nations, struggling or no, they do have internet lines, which provide a refreshing realistic source of hope for economic infusion via iGaming.
Eventus Brings iGaming
To this end, Eventus International has announced the launch of the first The Sports Betting & Gaming India Conference (SBGI) next year, scheduled for February 27 - 28, 2018 at Goa Marriott Resort & Spa, India.
Designed as an introductory business conference, the opulent venue in which SBGI will take place shapes up as a full service event covering the impact and opportunities of clear and well-defined legalized gambling in the India region.
Themes and Topics
The event is promising no shortage of proactive presentations covering incoming themes in India ranging from the optimization of gambling and gaming; licensing opportunities; and responsible gambling to generate actionable steps towards clearly defined business, operating, and investment objectives goals that can most effectively provide needed financial relief for the region at the same time.
Timing Enhanced Opportunity
The event takes place just the Indian government displays a full willingness to consider and clarify gambling legislation, rendering the timing of the SBGI opportunity even more fortuitous to all attendees, including but not limited to operators, suppliers, and investors.
Current Climate in India
The current regulation climate is beset by heavy restrictions on gambling and sports betting in India, with the governing legislation embedded in the Indian Contract Act prohibiting all agreements based on wager or chance as void.
Currently, the CII (Confederation of Indian Industry) values the Indian Gaming Industry at USD 890 million, with an estimated annual growth rate of 14.3 percent and mobile gaming holding 71 percent of the share.
Illicit Gambling Factored
As to be expected in regions where gambling is strictly curtailed by local government, there is no shortage of illicit activity also taking place across the region. The Doha-based International Centre for Sports Security values India's illegal sports betting market at USD150bn annually. Regulation in India will clearly seek to push all that activity to within the regulate model, and add those activity totals to market volume.
Eventus Director’s Praise
Eventus International Managing Director Yudi Soetjiptadi praised the opportunity for early entry into India, a market which she characterised as “highly competitive and increasingly saturated,” expressing her organisation’s confidence in SBGI’s being received as “a constructive initiative presenting an opportunity to both the Indian government and regulator and the gambling and gaming industry.”
In a region known for its technical savvy, industriousness and IT leadership, India’s economic landscape remains made up of a vast majority of have-nots living in extreme poverty with little or no infrastructure.
Operators looking into Indian market can support a true iGaming social transformation in the region. In February in Goa, SGBI will empower attendees to learn how and get started.