How Much Will You Bet on the Indian Casino Industry?
Indians have been indulging in the casino scene abroad for a while. Macau, Singapore and Las Vegas are some of the favourite casino destinations of Indian gamblers. Moreover, it is estimated that as many as 70% of the visitors in Kathmandu casinos are Indians.
Things have, however, been changing significantly at the domestic front. Goa is attracting the affluent, urban Indian gamblers in large numbers. As soon as you enter Goa’s airport, you are overwhelmed with the casino options in the region. If you set out for a picturesque walk near the Mandovi River at Panjim, you will surely be mesmerized by the numerous neon signboards of casinos. India’s very own sunset strip is all-set to takeoff the casino business in the country.
So if you are planning to bet on the Indian casino industry, you should know that the Goan casino business is projected to do a business of Rs 300 crore by the end of 2011. While this may not match up to Macau’s August revenue of $3 billion, it is worth noting that Goa’s casino business was generating merely Rs 50 crore in 2007. The Indian casino industry has indeed come a very long way.
Indian Casinos: Where to Put Your Money?
Casinos in India offer a plethora of options, from slot machines and blackjack to mini flash and derby games. However, the most sought-after games by Indian gamblers are:
- 21-card Rummy: Played with three decks of cards, this is a very popular household game. Therefore, it is no surprise that some casinos in Goa have introduced this game.
- Texas Hold ‘Em Poker: Thanks to the globetrotting IT professionals and the affluent business class from Bangalore, Delhi and Chennai, this game is fast becoming a popular casino attraction. Texas Hold ‘Em Poker is a game of skill, and is usually played with large sums.
- Roulette: Definitely a crowd-puller at the Goan casinos, roulette is extremely popular among the women as well as novice gamblers.
Betting on Indian Casinos: A Final Word
The social angle of casinos is steadily changing. What was once perceived as a social menace is now indulged in by men and women alike. In fact, women are now game to bet big. Conventionally, women would accompany their male partners to casinos and observe from the sidelines. Today, they are sitting in on the high-stake games, where the winnings are over Rs 1 crore.
There is also a change in attitude of the casino owners, who were once majorly targeting the Caucasian backpackers. These days, their focus is just as much on the affluent and regular Indian gamblers.
Rakesh Wadhwa. Ever since, I was a school boy, I knew India was on the wrong path. Socialism was just not what we needed to get ahead. Government controlled our travel; government controlled our ability to buy and sell; and government controlled our freedom to move our money. My life has focused on the inherent rights people have. When I was in college, I never understood, what the governments meant by their "socialistic attitude". If people are free to buy, sell and move their capital themselves without any restrictions by state, then the welfare of people is inevitable & hence the countries they live in will become wealthy. The government has no right whatsoever, to point a finger at me or my business. I am not a revolutionary. I just want to light up my cigarette and not get nagged about it. I believe in non-interfering attitude to attain more. 
The Bastiat Award is a journalism award, given annually by the International Policy Network, London. Bastiat Prize entries are judged on intellectual content, the persuasiveness of the language used and the type of publication in which they appear. Rakesh Wadhwa won the 3rd prize (a cash award of $1,000 and a candlestick), in 2006.
15 Comments
Priya
November 2, 2011Yes, the Indian casino industry’s future does seem bright, especially because Goa is already frequented by many tourists. But will the govt actually let it happen?
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