Inside India’s iGaming surge from villages to cities with CEO SB Rathore
India’s iGaming and affiliate marketing sectors are witnessing explosive growth, driven by fantasy sports, micro-payments, and regional content consumption. As mobile usage deepens across rural and urban areas alike, influencer marketing is playing a pivotal role — but the lack of clear regulation is raising concerns around addiction, trust, and underage access.
In this exclusive SiGMA World interview, SB Rathore, Founder and CEO of Promotion Bazaar, shares sharp, experience-driven insights into the evolution of the market. From Tier-3 towns to digital-first cities, Rathore highlights how small-value players are spending significant time on fantasy apps, often without understanding the risks. He stresses the need for upfront KYC checks before deposits, and warns that brands chasing short-term scale without regulatory clarity may eventually collapse.
He also makes a strong case for supporting regional content creators and local influencers who, when empowered responsibly, can build trust and drive meaningful engagement. According to Rathore, long-term growth in India’s gaming industry hinges on compliance, transparency, and ethical marketing.
Rathore also calls attention to the unchecked influence of celebrity and influencer-led promotions in India’s iGaming space. “All big companies and agencies are promoting them. All celebrities are promoting them. And they are giving the addiction to the player,” he says, pointing to the widespread yet often unspoken role of brand endorsements in fuelling user engagement.
Drawing from his rural background, Rathore highlights how even low-spending users in villages are deeply immersed in fantasy platforms like Dream11. “They invest ₹50 or ₹100, but they spend the entire day on it,” he notes, underscoring how time—not just money—has become the addictive hook.
He argues that while top-tier influencers have access to major brand deals, there is a missed opportunity in nurturing regional content creators. These local voices, especially those passionate about cricket, can drive deeper trust and engagement in their communities if given the right platform and support. “If you’re from Chennai and speak in your local style, you’ll connect faster with your audience,” he adds.
Rathore believes brands should responsibly sponsor such creators, offering guidance and monetisation while staying compliant — a strategy he says is not only more ethical, but more sustainable.
In the conversation that follows, Rathore offers grounded perspectives on influencer marketing, regulatory risks, KYC challenges, and sustainable strategies for long-term brand success in India’s iGaming space.
SiGMA News: What are some common mistakes brands make when promoting through social media and running ads?
SB Rathore, Founder and CEO of Promotion Bazaar: Brands, what they do is—they want to promote directly, like they are launching ads. They think, if I am going to publish my ad, people will show interest and they will act. Rather than directly spending money on ads, they should go another way. If I hear about any brand multiple times from my people, and then I see an ad, I will trust it more. But if I’m just seeing the ad without hearing anything earlier, I’ll just watch and ignore it.
Maybe I’ll sign up on the platform, but while putting money into my account, I will have fear—definitely. I’m putting in my credit card or something else, so I’ll think twice. I haven’t heard about this product or company from any person I can trust.
The other way is, if a local influencer is talking about a product in their area, and then you’re launching ads, people will connect. Somebody is watching a reel about you; they saw your logo somewhere. On Instagram, you see so many brands that have some kind of watermark on funny content. If I watch a brand’s name or content repeatedly and then see its ad, the probability of me becoming a paying user is higher.
Otherwise, I’ll just ignore it. Maybe, if they promise a lot for free, I’ll sign up—but that’s it. So this is the mistake: they invest in social media directly. They want to jump into this pit, spend money, and get users.
And on the other side, there are so many regulations for advertising. You’ll face blocked accounts, banned accounts, ad rejections. If you don’t have an expert with you, you can’t even launch it—like in the case of Facebook Ads.
SiGMA World: What are some alternative platforms for brands, especially when facing restrictions on mainstream channels?
Rathore: Google has strict policies for both advertisers and publishers. Many publishers get rejected from AdSense due to content that doesn’t comply—this could include sensitive or adult material. So where do these publishers go? They turn to alternatives—platforms operated by DSPs (Demand Side Platforms) and SSPs (Supply Side Platforms).
These DSPs and SSPs serve as alternatives for both sides: publishers who can’t get into AdSense, and advertisers who are restricted by Google’s advertising policies. Essentially, the alternatives for publishers become the same alternatives for advertisers.
There are many DSPs in the market today, but using them effectively requires a deep understanding of their algorithms. You have to invest money, monitor returns, impressions, clicks, registrations, and learn how the traffic is working.
Of course, there are also loopholes. If someone is operating in the grey area, they may exploit those gaps to their benefit.
SiGMA World: How do you see affiliate marketing evolving in the next few years, especially in India and across Asia?
Rathore: Affiliate marketing has two sides. On one hand, someone might create their own product, launch it, and build a business. On the other hand, affiliate marketing allows someone to focus entirely on promotion strategy — without the need to invest in product development.
The advantage of affiliate marketing is that there’s no initial investment required. The downside, of course, is that you’re promoting someone else’s product. Still, with zero investment, it’s possible to start earning money from day one just by running ads.
If you’re skilled in Google Ads or Facebook Ads, you can quickly become a successful affiliate. In fact, around 70% of affiliate traffic comes from Facebook, more than any other channel. So if you’re good at leveraging Facebook, you could become a strong influencer or an effective agent for a brand.
This model has a solid future. India is one of the fastest-growing internet markets, and that gives every individual an opportunity. Anyone can become an affiliate instantly — there’s no long onboarding process. Just ask, “Can I sell this product? What commission will I get?” and the process begins.
More people are becoming aware of affiliate opportunities and showing interest, especially because there’s no risk involved and no upfront cost. This applies to mainstream affiliate marketing — not just iGaming affiliates. Affiliate marketing overall is poised to grow 3x or 4x, or even more, depending on how quickly internet access expands across India.
SiGMA World: With growing internet access in India, how do you view the issue of underage users joining betting and fantasy platforms, especially in the absence of strong regulation?
Rathore: The government is already quite strict about this, but there should be firm rules in place — at any cost.
Some smart brands let users sign up and deposit money first, and only ask for KYC at the time of withdrawal. Then it becomes a legal issue — what’s yours, what’s not. Instead, there should be a rule that KYC must be done before depositing any money, whether it’s Dream11 or any other company.
This rule should be standard for all platforms: complete KYC first. If someone is under 18, they won’t be able to complete it — and if they can’t deposit, there’s no risk.
Every brand should follow this policy. KYC should come first, then talk about deposits — not the other way around, where the user deposits first and is asked their age only at the time of withdrawal. That’s how people — especially minors — end up losing money.
Sometimes they use their parents’ accounts, but without proper ID checks like PAN cards, it’s easy to bypass. So, regulations must be very strict. No one should be able to deposit without completing KYC.
SiGMA World: Given India’s socio-economic setup, even users over 18 often rely on their parents financially. How do you view age restrictions in this context?
Rathore: So, raise the minimum age — make it 25 instead of 18. Don’t allow successful KYC completion below 25 years. You could even set it at 27 or 30—whatever works best for the country. Wherever you feel the youth is truly safe, that’s where the limit should be. As a promoter, I would always put India first. I want our people to be safe.
When it comes to addiction, people drink alcohol at any age—even though there are rules. Cigarettes aren’t allowed below 18 either, but people still smoke. So yes, there will always be some who gamble.
We can’t control everyone, and I won’t promote irresponsible behavior. But still, the more regulations we have, the better. We should definitely shed light on these issues.
Sigma World: Several Bollywood celebrities have faced investigations for promoting certain platforms. How can such situations be avoided?
Rathore: They need to be aware of what’s legal and what’s not. Before promoting any brand, they should carefully read about it and consult with a legal advisor or someone who understands the legal framework. Only then should they proceed.
If someone blindly accepts money and agrees to promote a brand without knowing the legal implications, that’s where problems begin. It’s important to understand how your name or face will be used.
For example, fantasy is legal — you can use my words or image for that. But not for things that aren’t legal. So, reading carefully is essential.
Those who are facing issues now likely didn’t consider the legal aspects. They didn’t think through the pros and cons.
Sigma World: Many celebrities later claim they didn’t know the platform they endorsed was linked to betting. How can this be avoided?
Rathore: They should read the agreement thoroughly. And they should ensure there’s a clear clause in the agreement stating: If my photo or identity is used for betting or gambling purposes, I will take legal action against you. This should be written and agreed upon. If such a misuse happens, the celebrities should fight against it.
Sigma World: What advice would you give to brands looking to build a lasting presence in India or Asia’s evolving iGaming market?
Rathore: For long-term success, brands need to align closely with regulations. You might bypass rules for temporary growth, but that won’t sustain you. You may grow for two or three years, but if you’re not compliant, anything can hit you and bring the entire business down. It’s better to understand what’s legal, what works where, and move accordingly. That’s how you avoid long-term problems.
If your user base grows, you’re building trust. Say you’ve spent ₹10,000 to acquire a user like me, and my lifetime value (LTV) is ₹50,000 or ₹1 lakh. You’ll reach breakeven in 5 to 10 years. But if your brand doesn’t survive that long due to non-compliance, it’s all wasted. If you rushed and didn’t invest in the right licenses or legal frameworks, then even acquiring users cheaply doesn’t help. You might have spent ₹5,000–₹6,000 on fantasy user acquisition and earned some profit, but if you get banned in 2-4 years, it’s a loss.
That’s why marketing money should be spent with proper legal backing. Otherwise, if your brand gets caught, all the money is wasted. Once your name is in the news for the wrong reasons, users will hesitate to trust you.
Legalisation and regulation are critical. It takes just one wrong move to ruin a brand, no matter how good it is. Look at comedian Samay Raina—everyone knows him, not because of one joke, but because of consistent work. Similarly, brands that survive in this space are those that invest with a long-term vision and follow the rules. Many brands come and go, but only a few stay—and that’s because they invest in doing things the right way.
Sigma World: What challenges do gaming companies face in complying with ASCI (Advertising Standards Council of India) guidelines, and are these regulations evolving to support the industry?
Rathore: In India, people turn to movies, music, cricket, and other sports for entertainment. Similarly, iGaming can become a part of mainstream entertainment — but only if it’s legalised. I keep emphasising legalisation because without it, everyone is playing with fear — fear of being penalised or shut down.
The moment iGaming becomes legal, the growth of the industry will skyrocket. If, by chance, the government recognises how many players are involved and how much global attention India is receiving, investments would pour in at a speed that’s hard to imagine.
We were just discussing — if India legalises gaming like Thailand or Sri Lanka, those markets won’t be able to compete. Everything could happen here. Legalisation would elevate gaming to a true form of entertainment.
Right now, nearly every individual in India has internet access, and there’s already a wide variety of games — casual, fantasy, skill-based — growing faster than ever. Even in Tier-3 towns and villages, people have games like Ludo and poker on their phones. The reach is massive, and the potential is huge.
