India evaluates bigger lottery market
At ICE London this week, lottery operators discussed potential expansion of Indian market.
India.- Representatives of Indian gaming market discussed the possibilities of expanding the operations during this year’s ICE Totally Gaming, which is currently held in ExCel, London, until today. Sugal & Damani Chief Executive Officer Kamlesh Vijay said that the market is ready to be at least four times its current size.
However, legislative restrictions prohibit gaming expansion in India, although the National Law Commission is preparing a proposal to present to the Congress in order to set legal and licensed online gaming operations. The market could grow four times its current size if further states are able to legalise the industry and implement new business models to grant gaming licenses.
Vijay explained that the lottery market is currently worth US$3.5 billion, based on nine state legal states. Meanwhile, the country is missing out on revenue of about US$2 to US$3 billion, compared with the US$350 million it currently collects from the lottery industry. Furthermore, the businessman revealed that half a million jobs could be created once lotteries are legalised nationwide.
The Law Commission of India has urged the contribution of state associations to carry out the official assessment about potential legal gaming operations. The government of India is determined to evaluate the possibility of legalising the gaming industry in order to boost the economic and touristic sectors.
