by Richard Hill
1 min read
1 min read

IGaming Investment in India Experiences a Slowdown

The article highlights a slowdown in iGaming investment in India due to the impact of the Goods and Services Tax (GST). It underscores a notable decrease in foreign investments in this sector. Additionally, the piece emphasizes the potential of the Indian market for iGaming.

According to the debate over the timing of changes to India’s Goods & Services Tax (GST) is causing a halt in investments in the iGaming sector.

A Significant Drop in Foreign Investments

The Financial Express of India highlights a significant drop in foreign investments in online gaming from $500 million to $61 million between 2021 and 2023.

Specifically, investments in real-money iGaming have plummeted by 87.8%, falling from $400 million in 2021 to just $2.6 million last year.

Why iGaming?

The initial interest in iGaming among Indian players has been impressive, driven by a rise in consumerism, especially in major cities.

However, the lack of clarity regarding the implementation timeline of GST revisions, which would elevate iGaming taxes from 18% to 28%, has created uncertainty.

Consequently, international investors are adopting a cautious “wait-and-see” stance, as noted by Sreedhar Prasad, formerly of KPMG India’s Internet Business division.

India, a Promising Market

India, with its vast population, advancing commercial landscape, sports enthusiasm, and growing individual prosperity levels, represents a promising market.

The broader iGaming industry eagerly anticipates a swift transition to a proactive approach by concerned parties.

They hope that a ‘sooner-rather-than-later’ shift can be made to seize this opportunity, benefiting all stakeholders, including the government.

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