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Initiate Vendor Registration via Multiple Channels
In the last couple of years, all sorts of gaming genres – especially the real money gaming segment, have grown by leaps and bounds. Some key findings are indicative of the fact that people are now more willing to pay to play.
As reported by the India Times, analysts have claimed that over 24 million Indians were added to the payment-linked gaming market during the lockdown. The Indian gaming market is expected to grow at a CAGR of 28-30% – from $2.8 billion in 2022 to $5 billion in 2025. The number of gamers is projected to witness an uptick from 420 million in 2022 to 450 million by 2023, which will hit 500 million by 2025.
An EY FICCI report shows that transaction-based games’ revenue has shot up by 26% in India from 2020 to 2021.
Initiate Vendor Registration via Multiple Channels
Naturally, online real money gaming space attracts the attention of fraudulent players and money launderers, due to its sheer accessibility and financial transactions involved on a daily basis.
One such major fraud is ‘underage gaming’ which can put businesses on the wrong side of the law, cause regulatory and compliance costs, and also put up a question mark on the brand reputation.
Underage gaming, it’s a significant risk!
Not only to the gaming operators, but also to minors accessing the platform illegally. The legal age for real-money games for players is 18 years, but some tend to start real-money games at a very young age. Minors who are around 15 are more susceptible to accessing real money gaming platforms illegally.
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