Globally there are millions of casino customers whether be it in a physical casino or online which is the current trend & India has not been left behind in this race, yet again boasting over 30 Million gamblers spread across the subcontinent entertaining themselves with thousands of online gambling websites both from India and offshore.
With a click of a button, they enter a casino table in Bulgaria or Mexico depending on the offer of these websites but few names echo for them irrespective of the choice of games, viz, Evolution, Ezugi, Netent and SSG gaming as these companies have built a certain trust among the average Indian skeptical gambler.
Evolution Gaming being the mammoth it is today with a SEK 220 Billion market cap raising its flag high in the European stock markets climbed at the top of the ladder and keeps maintaining its position for a relatively long time now.
The Hindi-speaking European casino tables spinning roulette wheels live from global studios doesn’t come with a surprise considering their inclination towards the Indian market. The company has a significant amount of revenue coming from so-called emerging markets which indeed is in millions of Euros but the caveat to this is they are losing another hundred of millions of Euros with the so-called, “Jugaad” practices of the local Indian illegal gambling websites which operate without any licenses, and have the least credibility among gamblers as they keep disappearing when and how they want.
These websites found a way of manipulating the currency conversion factor to lower the amount of revenue share they have to pay to companies like Evolution and stealing in millions from them, not forgetting the shady presence of these websites which are not ideal for any gambler to keep their recreational funds with them.
Generally, these online casino companies do a revenue share deal with the partners they work with in exchange for live casino feed and the certified software they provide for seamless entertainment across the globe.
These illegal websites acquire such services through a middleman a.k.a an “aggregator” who are usually unaware of these practices where the illegal website developers change the currency of gameplay to deceive the technology coming from companies in exchange for unethical profits they generate by lowering their ratio of real revenue to fabricated revenue by 50 times almost and bailing out with peanuts instead of paying for the caviar they enjoy at the cost of services of these companies and also running away with funds from innocent gamblers who then blame the big companies like Evolution for stealing their funds.
So, the question stands, is the house really winning? but sadly here neither the house nor the gambler wins but someone takes away the bag home and it is very difficult to find someone unless these companies step up and do proper due diligence before engaging with such groups to protect their customers and shareholders’ hard-earned chips.