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India’s gambling boom: Google Pay’s role in the industry’s growth
India’s gambling boom: Google Pay’s role in the industry’s growth
Growth trends in gambling in India
In 2021, legal sports betting was valued at more than $2 billion. Cricket, the most popular sport in the country, stands out in particular, accounting for 80-90 per cent of all bets. More than 140 million bettors regularly bet on cricket, and during major tournaments like the Indian T20 League, the number of bets can rise to 370 million.
As for offline gambling, despite the bans, the industry is thriving. It is estimated that around 80 per cent of Indians gamble at least once a year. The offline gambling industry in India is projected to be valued at over $1.2 billion.
The online sector is witnessing growth, thanks to the proliferation of internet and mobile devices. More than 700 million people in India are expected to use the internet by 2024. This makes the country the second largest online market in the world. The growing middle class in the country is also fuelling increased spending on online casinos.
In India, gambling is growing in both offline and online formats, fuelled by increasing internet access and rising middle class incomes.
Google Pay vs Traditional payment systems
Google Pay in the context of gambling represents an attractive option for online casinos. This is due to a number of its advantages.
Google Pay provides high security for transactions and instant transfers. This is possible thanks to the use of modern encryption standards and additional security including fingerprints and PIN codes.
Google Pay is supported by many casinos, offering players a variety of games and fast deposits. This allows players to start playing immediately and enjoy a variety of bonuses.
At casinoss.in casino expert Krishan Prasad provides a good list of google pay casinos for real money.
There are also traditional payment methods such as credit cards and PayPal. These are also popular due to their ease of use and accessibility, but may have certain limitations.
Google Pay competes with other digital platforms like Paytm, especially in the Indian market. It stands out due to its user-friendly interface and integration with Google, as well as its cashback offers.
Gpay combines security, convenience and speed, becoming an attractive choice for online casino players.
Security technologies in Google Pay
Google Pay ensures the security of personal data and financial transactions. One of the key features is the PIN code required to confirm payments. This prevents unauthorised access to the account. Device identification technology is also used.
With the development of Web3 and the emphasis on decentralisation, Google Pay may introduce blockchain. This will allow users to use private keys and wallets to manage cryptocurrencies.
Convenience and accessibility of Google Pay
The most important advantage of Google Pay is the instant transactions. As soon as you deposit funds into your casino gaming account, you can start playing almost instantly.
Google Pay works through the Unified Payments Interface (UPI), which ensures that payments are quickly received and sent from other apps that use UPI.
However, one of the key things that makes Google Pay so attractive to gamblers is its licensing and regulation by the National Payments Corporation of India (NPCI).
Another advantage is that there are no casino deposit and withdrawal fees.
Google Pay also provides several payment methods including QR codes, phone numbers and UPI ID.
Not all casinos accept Google Pay, and payments to casinos using this service are only available in Indian Rupees (INR). Some casinos may take time to process payments and Google Pay is not always available for withdrawals.
Users must first download and set up the app by linking it to their bank account. After that, they can easily deposit and withdraw funds at the casino.
