India has been traditionally engaged in sports. The interest in sports has grown exponentially in recent years, and the pandemic influenced this sphere dramatically and imposed some long-term changes.
Indian Sports In The Pandemic Period
People were unprepared to face the challenges of COVID-19. There were restrictions on group activities due to the need to solve health issues, which boosted the growth of prediction gaming. The sports industry got good prospects for enlarging its audience, and Parimatch and other iGaming platforms got more traffic. It contributed to involving more people in sports and games, including tournaments, online betting, and different prediction-based games. The Indian Sports market grew considerably to INR 16 billion in the pandemic year.
Global Market, A Source Of Inspiration For India
As iGaming sponsorships are legal, online games have become highly profitable for generating revenue in the global market. The sports industry got additional support owing to the ever-changing dynamics of the prediction gaming platforms. Online gaming sponsorships brought financial benefits for India, and huge sums of money were invested in accelerating the market's growth. Sponsorships and iGaming platforms, including Parimatch, have become fundamental and are seen as mainstream owing to online gaming platforms fast growth and generating high profits (CAGR 4.1 percent).
The Asian region is one of the key players in sports and gaming, with a 32.7 percent global sports betting market share. For this reason, iGaming sponsorship and support are vital for India and its economic development.
IGaming Sponsorships In India: A Win-Win Situation
The Indian economy will gain enormous benefits from iGaming sponsorships as the number of people who invest in the sphere grow exponentially. Also, sponsorships open new employment opportunities. Sponsorships and online platforms make the sphere more attractive and bring more passion for gaming and sports explosive development. Therefore, generating revenue and taxes will open new prospects for India and be highly beneficial for its economic growth.
India is a global player in the iGaming industry, with its share of almost 40 percent, and iGaming sponsorship makes this sphere even more attractive and profitable. Parimatch will render the best gaming experience to Indian fans. Its innovations and new technologies will strengthen the capacity of iGaming and sponsorship in India and raise the engagement rate in sports and entertainment.