Analysis of the Markets of India, Nigeria, Brazil, and Vietnam

Gambling Sector in India

Positive characteristics of the local market include:

• increased availability of Internet access;
• different regulation of entertainment for money depending on each state;
• high population density;
• the wide distribution of gadgets.

Which Gambling Verticals are Legalised

The following activities of operators are considered lawful and are controlled at the regional level:

1. Online casinos. They function smoothly in 3 jurisdictions. These include Sikkim, Goa, and the combined territory of Daman and Diu. Such digital platforms can host slot machines, roulette, blackjack, and other card solutions.
2. Games of skills. Land-based and online poker tournaments can be held in Sikkim and Nagaland.
3. Lotteries. They are allowed in all states. Licences for this type of activity are issued by the central government.
4. Horse racing. Such a niche is legal in Karnataka, Telangana, West Bengal, Maharashtra, and Delhi.
5. Virtual and fantasy sports. Entrepreneurs can accept bets on this kind of events only in Nagaland.

Thus, the regulatory framework of India fully covers the gambling sector. Operators can legally launch a virtual casino, organise an online poker tournament, open a bookmaker’s office, etc.

The work of offshore sites is not regulated at the legislative level. In practice, this means that local users can legally play on foreign digital resources and then withdraw money through payment services.

Secrets of Success in the Indian Market

It is worth considering the following factors:

1. Local traditions. First of all, this is the addition of national entertainment to the brand’s library. These are Tin Patti, Andar Bahar, and Rummi table games, as well as slot machines made in local style. Bookmakers should offer bets on cricket since it is the most popular sport in the country.
2. Localisation. Gaming sites should be translated into Hindi and English (both are official languages in India). The national currency is the rupee, and most transfers are made in it. Alternatively, people can use cryptocurrency. Players trust such payment systems as UPI, Paytm, and RuPay.
3. Focus on mobile technologies. Indian gamblers visit many popular resources, including YouTube, Yahoo, Google, and Reddit. They also spend hours on Instagram, Facebook, Telegram, WhatsApp, and other social networks. The number of views and clicks through mobile applications is growing rapidly (80% of all Internet traffic in the country is accounted for by them).
4. The right marketing strategy. It is worth emphasising local folklore, using different advertising channels, and offering an interesting bonus program. The most popular content option is video, and the age group involved in gambling more than others is young people aged 18–24.

Gambling Industry in Nigeria

The document is necessary for those businessmen who want to:

• open an online casino;
• launch a bookmaker's office;
• organise lotteries (national, regional, or advertising ones);
• manage a land-based complex;
• hold online poker tournaments.

Gambling is regulated by the National Lotteries Act of 2005 and 2007, as well as by regulations in each of the 36 states. Since 2013, digital entertainment platforms have appeared in the jurisdiction as well.

The NLRC is the main regulatory body in Nigeria. The issuance and revocation of licences are matters that are resolved at the local level, for example, by the LSGLA.

Obtaining a permit in Nigeria is quite simple due to the minimal financial requirements:

• the authorised capital of the candidate is $19.3 thousand;
• the fee for submitting documents is from $32.2 thousand to $64.5 thousand (depending on the type of activity).

Applicants can get discounts on starting fees. The terms of registration vary depending on the state. Thus, in Laos, it is necessary to join an accredited sports betting association.

Gambling Vertical in Brazil

The country is often called the “sleeping giant” of LatAm due to the enormous technological and economic potential in many spheres, including gambling.

In 2023, a law that legalised sportsbook brands (online and offline) was adopted. The launch of the virtual casino sector is next in line, which is eagerly awaited by investors from all over the world.

The Development of Betting: Key Features

Let us consider principles based on which legal companies work:

1. Clear regulation. The National Secretariat for Gaming and Betting (SNJA) is responsible for the issuance of licences.
2. Balanced event line. The country's national team is the most successful in FIFA history, so it is not surprising that football is the favourite sport in Brazil. Popular disciplines also include volleyball, Formula 1, athletics, and martial arts (including jiu-jitsu and capoeira).
3. Responsible gambling. The National Council for Advertising Self-Regulation (CONAR) operates in the country. It assesses the legality of any marketing activities. Entrepreneurs should encourage an adequate approach to the placement of bids. For this purpose, limits and self-restriction tools are used.
4. Taxes and fees. The GGR charge is 30%.

How to Create a Successful iGaming Startup

Nuances worth paying attention to:

1. A wide range of odds. For example, football should be presented at 3 levels at once: international (World Cup), regional (Copa America), and local (Serie A).
2. Mobile compatibility. The penetration rate of gadgets is 83%. Brazilians solve any issues using smartphones, from paying utility bills to viewing favourable bookmakers’ quotes.
3. Local symbols. Creatives with heraldry and colours of the cultural code or national flag give the best response from the audience due to its patriotism. The same tones can be used when developing the design of a wagering platform. An excellent choice is the image of traditional game elements in combination with local symbols of good luck (tigers and rabbit feet).

Gambling Market in Vietnam

The Ministry of Information and Communications (MIC) has issued 288 G1 class licences for offline electronic solutions, which is 30% more than in 2023. In addition, the regulator has set a rather ambitious goal of reaching the $1 billion revenue milestone in the next 5 years (until 2030).

The main income comes from the work of land-based casino resorts. Until 2017, the establishments were focused on foreign tourists, after which they became available to locals.

The most famous gambling complex is The Grand Ho Tram Strip. It includes several hotels, restaurants, modern CPA zones, and colourful rooms with slot machines and card tables.

The State of Affairs in the Niche

iGaming is still prohibited in the jurisdiction, but its authorities do not block offshore sites. It is expected that the vertical will only grow in the future, attracting wealthy players from China, Singapore, Cambodia, and other regions.

Let us consider how to open a profitable digital casino in Vietnam:

• add national table entertainment;
• connect live products;
• integrate local e-wallets and crypto payments;
• create a website design that uses the colours of the national flag and native symbols..

Popularity of eSports

The development of gambling in the country is closely linked to betting on cybersport. This area is fully legalised and actively supported at the state level.

Vietnam annually hosts dozens of international eSports competitions, attracting large sponsors and a multi-million audience.

The most popular genres in the segment are:

• Mmorpg (multiplayer online role-playing game);
• Turn-based (tactical combat entertainment);
• Moba (online battle arena where many people can participate);
• Casual (standard mode);
• SLG (tactical simulator);
• RPG (walker).

Advantages of Investing in the Described Gambling Markets

They are located on different continents and have various approaches to licensing, as well as a unique history of the entertainment’s development.

However, the states have a lot in common, which makes them extremely promising for investment.

Flexible Legislation

Despite the official ban on the operation of online casinos and virtual bookmakers’ offices, the local government does not interfere with offshore sites. Gamblers only need to turn on a VPN to visit their favourite gambling resource. Fines for the work of foreign establishments are either non-existent or minimal.

All this makes India, Brazil, and Vietnam some of the largest grey markets in the world. Current entrepreneurs do not violate the law in any way but take advantage of gaps and inconsistencies in the local regulatory framework.

Against this background, Nigeria stands out. In 2024, the government introduced a special permit for offshore companies that can provide online services for 5 years.

The amount of fees for international firms is $500 thousand, including:

• application fee;
• costs of checking key persons;
• the price of annual audit;
• the amount of financial guarantee.

Offshore operators can run digital casinos and poker rooms, as well as accept bets on sports, eSports, and bingo draws. To conduct lotteries, it is necessary to obtain a separate permit.

High Population

Let us consider a few facts:

• India has a population of about 1.4 billion people. This is the most densely populated country in the world.
• Nigeria has over 200 million people. This is almost twice as many as any other African country.
• Brazil has more than 214 million citizens. It is the largest Portuguese-speaking state and also the leader in South America.
• Vietnam is one of the most densely populated regions in Asia. About 100 million people live in an area of ​​331 thousand square kilometers.

Working in any of these markets will bring good dividends to operators, such as a huge audience reach and rapid growth of Internet traffic. It quickly converts into a decent profit.

Even taking into account small initial bets (the above-mentioned countries are not distinguished by the high incomes of residents), the provider's earnings will still increase due to wide coverage and interaction with different age groups.

Penetration of Mobile Technologies

India, Brazil, Nigeria, and Vietnam are characterised by a high prevalence of gadgets. They are gradually replacing desktops. In many jurisdictions, the volume of mobile traffic has already reached 80%.

Brazil is the absolute world leader in daily use of personal devices. The average citizen uses a smartphone more than 5 hours a day. The turnover indicator is 86%.

In India, Nigeria, and Vietnam, compact gadgets also predominate, providing 80% of views on the Internet. The main reason for the spread of mobile phones is the population’s low income.

It is worth entering local markets with a high-quality casino or betting application.

Sportsbook software should have the following features:

• responsive design;
• good navigation;
• synchronisation with local payment systems.

Simplicity and convenience are what gamblers value the most.

Low Competition

This is explained by the imperfection of the regulatory framework, as well as the fact that the described jurisdictions were considered third-world countries for a long time.

However, India, for example, has become one of the technological leaders, along with the United States and China. The country has achieved impressive results in the development of innovative payment services that are currently used all over the world. These are UPI, Paytm, RuPay, and other financial solutions.

Nigeria and Vietnam are regional leaders in Africa and Southeast Asia, respectively.

Despite the huge advantages, the regions still have a low level of competition in the gambling field. Many top providers are just eyeing the markets but some are taking their first steps.

The international bookmaker Betsson, for example, has already received a licence to accept bets at the Jockey Club in Rio Grande do Sul. The EveryMatrix software vendor is ​​actively developing the Nigerian entertainment industry, seeing its huge advantages.

The Main Things about Promising Gambling Markets

Key aspects that entrepreneurs need to take into account:

• The advantages of working in the regions include flexible legislation, high population, and penetration of mobile technologies. The jurisdictions are characterised by low competition, which is beneficial for a quick opening and comfortable scaling of the gambling business.
• Foreign operators can work legally in Nigeria. Providers from India receive a strong technological base in the form of progressive payment services. Brazil and Vietnam are convenient due to the high level of penetration of mobile devices.

We also offer the following useful services:

• integration of games;
• preparation of a business plan;
• security package;
• acquisition of a licence, and much more.