Economics and statistics

The Indian gambling economy is decentralized: states set the rules and fiscal regimes, so the income structure across the country is heterogeneous.

The main sources include:

Goa and Sikkim casinos (offshore ships and 5-hotels) are generators of tourist GGR with a high share of tables and premium service.
State lotteries - work selectively by state and give a steady flow through retail and official applications.
Horse racing and sweepstakes at racetracks are a traditional segment with omnichannel sales.
Online games for money - the mode varies by state; the sector is subject to a high indirect tax, KYC/AML and advertising restrictions are increasing.

Distribution channels are rapidly digitalized: mobile payments (UPI, cards), e-KYC and anti-fraud increase the share of online revenue where the format is allowed.

Compliance costs are rising due to identification, limit and reporting requirements.

The demand profile is formed by residents of megacities and tourists; the assortment shows a shift towards localized products (Teen Patti, Andar Bahar, cricket-themed).

Trends until the early 2030s: consolidation of operators, cautious investments in resort formats, development of official digital channels in permitted segments and maintaining a tight fiscal burden as a basic assumption.