Brazil attracted substantial investor attention following its regulatory changes, with expectations that it could rival India’s market scale. Sethi indicated that early enthusiasm has moderated as comparative market data became clearer.
He noted, “Brazil was a talk-of-the-town for a while when it was regulated, and everybody believed that it would be the biggest market, but eventually India emerged as a bigger market hand-down. Investors are wary of the Brazilian market now, while India continues to be the number one preference.”
At the same time, Sethi argues that domestic operators should strengthen their international presence to avoid losing ground to global competitors. He encourages greater collaboration with established regulatory jurisdictions and more international industry engagement within India.
Sethi expressed, “We need to realise that we have the biggest market at hand and that we need to use the power of this market to represent ourselves globally. It excites me when I think about how we could set precedents for the world out there and come up with new models of regulation for the industry.”
Looking ahead, the advisor considers India one of the most commercially attractive iGaming environments, while cautioning that broad regulatory restrictions can introduce uncertainty for investors. He added, “India is a very lucrative market, and operational risks like these are the last thing any business would want.”
Market observers continue to monitor how regulatory clarity, technological adoption and investment flows shape India’s position within the global online gaming sector.
Source:
RMG ban fails to shake India’s iGaming market growth: Expert, sigma.world, February 18, 2026
