Gaming
History of eSports in India from A to Z
Hockey, football, and cricket are definitely among the most popular sports in India. Thanks to the recent technological advancements on credible platforms like 4rabet, the evolution of esports in India took place.
This business has been expanding at an incredible rate since the early 2000s. Call of Duty, Fortnite, Counter-Strike, and other games flew in and spread widely across the markets, and India wasn’t an exception.
eSports in India: Statistic Market Analysis and Forecast
The Indian esports ecosystem is known for its mobile-first nature. At the forefront, you will locate titles like COD Mobile, Battlegrounds Mobile India, and others.
According to an EY India study, this country is among the leading esports powers in Asia. Back in 2021, the esports market size in India reached 3 billion INR (around 35.7 million USD). Given the projected CAGR of 6.92%, this parameter can easily surpass the level of 14 billion INR (174.4 million USD).
Here are a few more predictions from Statista Highlights:
- The user penetration is also likely to keep increasing, reaching 9.6% by 2029.
- The esports betting segment is gaining momentum, too, — 7.6 billion INR (90.8 million USD) in 2024.
Although the US esports market is holding the leadership for the highest revenue, the exponential growth of the Indian esports market shouldn’t be underestimated — a boom of popularity among the younger generation:
- As of 2021, the number of players interested in esports was 150,000 enthusiasts.
- It reached 600,000 people in 2022.
- By 2027, this indicator is projected to hit the target of 1.5 million esports gamers in India.
The Progress of the Indian Esports Market:
It would be wrong to suppose this industrial evolution and the overall popularity of the industry in India is a breeze. Let’s take a closer look at the current challenges to overcome and opportunities to utilize.
| Challenges | Opportunities |
| Inconsistent infrastructure and Internet connectivity | Investment in better infrastructure development |
| Lack of uniform regulations and industry standards | Creation of transparent policies for smoother operations |
| Limited parental support for gaming as a career option | Awareness campaigns to change perceptions |
| Low popularity in remote regions | Expanding access to gaming in underrepresented areas |
As India embraces more innovations and sets new trends, the esports market is set to modify its silhouette and be a vital part of the global industry.
Key Figures in the Indian Esports Sector
What is the modern esports market in India all about? Its ecosystem is incredibly varied and depends on how different members perform their roles.
| Stakeholder | Role and Contribution |
| Publishers | Develop, finance, market, and distribute video games. Own the intellectual property rights. |
| Tournament Organizers | Manage and run video game competitions for both amateurs and professionals. |
| Teams | Professional organizations with staff like coaches and analysts, competing in global events. |
| Players | Compete from grassroots to international levels, ranging from casual to highly-paid pros. |
| Audience | The key element of esports, supporting events through live viewership and community building. |
The Indian Esports Market Future
The present environment for the growth and modification of esports in India is highly promising. With esports-friendly government policies and more events and organizations emerging, it will engage more interested parties. The rise in the number of brand ambassadors and sponsorships is also expected.
These changes are critical for the infrastructure in general. They will help elevate the professionalism and popularity levels associated with the market. The involvement of AR, VR, data encryption, and other technologies for entertainment and security goals will only lead to a thriving ecosystem, attracting more and more attention from the international audience.
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Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
