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Online Gambling Market Size & Shares by 2027 | Revenue, Cost Analysis, Gross Margins, Future Investment | Segmentation by Types, Applications – European Gaming Industry News
Online Gambling Market Size & Shares by 2027 | Revenue, Cost Analysis, Gross Margins, Future Investment | Segmentation by Types, Applications ” />
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India is the world’s largest mobile gaming market in terms of app downloads. Thanks to evolving technologies, the gaming business is expected to grow in new ways, with platforms that host games creating a wide range of employment prospects. According to an EY – AIGF (All India Gaming Federation) report, the Indian online gaming market, presently valued at $1.8 billion, is predicted to reach $4–5 billion by 2025. Additionally, it is predicted that there will be 510 million online gamers in India by 2022, up from 360 million in 2020.
While online gaming is growing exponentially and opens a world of connectivity and fast-paced fun, it is imperative for companies behind these popular games to put in place best in class security and privacy measures to protect the interests of the ever-increasing user base.
Here we list down a few noteworthy initiatives you can familiarize yourself with and keep in mind the next time you pick up your phone to play.
Protecting your money: Loss Protection Policy
Love playing chess, carrom or ludo in your free time? There are many notable apps right now that allow you to monetise your skills when playing these games. But sometimes, it’s easy to get carried away while gaming, regardless of whether you are winning or losing. What if you lose your money in the process? Do not worry! A few gaming companies are trying to address this with novel initiatives. For instance, MPL, one of the gaming unicorns in India, recently launched a ‘Loss Protection Policy.’ With this, you can play risk-free and get a refund of up to 100% of your net loss in case you lose a game.
Safeguards against cyber threats
Gaming has always been a great source of entertainment. But what happens when a game is hacked or your information is stolen? Cybersecurity in gaming is on everyone’s mind, both gamers and gaming companies alike. A few months ago, there were reports of a data breach on popular games such as Roblox and Grand Theft Auto. To protect user data, big gaming platforms like Steam have introduced 2FA (Two Factor Authentication) protocols to give players more control over their accounts. Indian companies are taking active steps in this regard too. MPL, PokerBaazi, WinZo, all have systems in place to scan for threats and bad actors and preempt any attacks. Incidentally, MPL and PokerBaazi were recently announced as winners of the SHIELD Trust Awards 2022, awarded by SHIELD a global risk intelligence company, based on the strength of their security measures.
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No more bots or troublesome players
There’s no denying that games are a lot more enjoyable when played against friends and other people. But one of the biggest issues facing gamers is the prevalence of bots. We’ve all seen it before — they are programmed to act like real people but are system-generated. And they ruin the fun of a game well-played —afterall where is the fun and challenge in shooting down automated opponents in, say, a First Person Shooter? Another common issue is gamers using cheat codes to get ahead in the game and gain an unfair advantage. Fortunately, many gaming companies monitor such accounts in real-time and permanently ban them if any illegal programme or activity is traced. For instance, Krafton, the South Korean video gaming giant, recently removed 25 lakh accounts in a month to eradicate cheating on Battlegrounds Mobile India, popularly known as BGMI. Epic Games, the maker of Fortnite, also regularly ejects gamers who are found guilty of cheating in games.
Keep your gaming in check: Time Lock
Like all good things in life, gaming is best enjoyed in moderation. That’s where time locks come into play. iPhones and Android phones already have in-built features or third-party apps available to help you check and reduce your screen time. Going a step further, several online gaming apps have also introduced methods to warn you if you are going overboard when playing your favorite game. For instance, the poker platform PokerBaazi has something called a Poker Break, a way for you to walk away and cool down for a duration of your choice. Other skill-gaming companies like Rummy Circle and MPL also have similar features to ensure you are gaming within reason.
To sum it up, gaming is a great way to unwind and have fun. And the above-listed player-first initiatives will go a long way in keeping it that way.
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