ENV Media Acquires Top Indian Lottery Site
The biggest online lottery platform in India has been acquired by ENV media in a sweeping deal that will see tremendous growth prospects for both parties. The acquisition of the online lotteries domain by ENV Media is the biggest such purchase in the history of the firm and will enable them to reach a much wider audience in the Indian lottery niche.
With online lottery gaining tremendous traction in India, both agencies and operators in the region are attempting to fill their balance sheet with valuable assets in the sector. This particular acquisition has been on the cards for several months, with the upwards potential of these sectors representing a tremendous business opportunity.
The online lotteries domain purchased by ENV media is surpassing all expectations thus far in 2020. The performance of the domain is 65% stronger than a similar period in the previous year. The acquisition of new players being driven through the site represents a lucrative investment opportunity for ENV media, as they will enjoy a huge share of the associated revenues.
Lottery Vertical in India is Huge
It goes without saying that the Indian gambling market has an enormous upwards ceiling in terms of revenue potential. The 1+ billion people living in the country have been largely sheltered from free-market gambling products. Savvy investors and product developers across the world have identified India as the main target market for iGaming going forward.
Lottery represents one of the biggest verticals in the Indian gambling sector. It’s a fun and highly accessible activity, due to a massive increase in the userbase of smartphones with cheap data plans across the country, the residents are more connected than ever before. The structural transformation and growth in the digitalization of the populace have accelerated the growth of mobile gaming and lotteries.
A big trend in India is growing in the mobile gambling space, app developers across the world have taken note and are in the process of collecting valuable data to help navigate the new frontier. Formulating a working synergy of what appropriates a good gambling product in India is still something very much undefined, but things are rapidly progressing towards a similar landscape we see in the western markets.
Regulators Clamping Down Across Asia
Despite the huge upwards potential of the Indian gambling market, regulators have been swift to stamp their authority on the apparent lawlessness of the industry. A number of listed brands have had to pull out of branded casino and sportsbook deals in order to respect the demands of the regulatory authorities in their jurisdictions.
Bodog Pulls Out of Asia
The Bodog list of online gambling options which includes products across the full spectrum, sportsbook, poker, and casino – is now under serious regulatory pressure across Asia. Many Asian players have been unable to access the product line for several months after receiving a ‘site down’ and ‘under maintenance’ message from the admins.
Customers with funds deposited in the account were told they had 30 days to process withdrawals from the accounts, and any unsettled bets will be automatically canceled with funds returned back to the players. The shutdown came as a shock to many loyal customers across Asia as the firm had been operating steadily for a number of years before the closure.
Bodog confirmed that they were being put out int the cold by the regulatory authorities across Asia, and the firm had to respect these actions in order to protect their players. Many anticipate the site to return in the near future, but thus far there has been no significant action in either direction.
India Allows Bodog to Continue
Across the Asian continent countries including China, Cambodia, Indonesia, Vietnam, Japan, and South Korea have stepped up efforts to crackdown against offshore gambling operations. China has been particularly prevalent in the fight launching a major purge against POGOs and other illegal operations. China has previously expressed its concern over a major capital outflow that is ongoing.
India and Thailand have also been heavily involved in the recent crackdown against offshore gambling providers. Both countries have made hundreds of arrests in an attempt to stifle the activity in its early infancy. Bodog is a special case though, withdrawing from practically all of its Asian business interests, the firm decided to remain in India due to a rapidly growing poker market.