As affiliates seek fresh opportunities, India has become a prime target. With a population exceeding 1.4 billion, the market holds undeniable potential. But with tightening gambling regulations and a hefty turnover tax, is the opportunity still viable? We speak to Aryaman Raman, CEO of marketing agency Mediarun Digital, about his journey into India’s igaming industry and its future outlook.
At just 22, Aryaman Raman is one of the youngest CEOs in the igaming affiliate industry. Like many Indians, this Gen Z boss is a passionate cricket fan, having participated in various school sports teams while growing up in his hometown of Jaipur.
“I wasn’t the best at cricket; I just loved it. Being in a sports-dominated industry, the experience has given me a big advantage because I understand the intricacies and what players want,” says Raman.
After finishing high school during COVID, Raman didn’t rush into university, believing “it would be a waste of time”. Instead, he secured an internship at a game development company to learn digital marketing and test slot games.
“I realised affiliates are a massive source of acquisition for traffic, but none of the affiliates were owned by Indian companies,” he recalls. “I wanted to offer something different, a service that’s for Indians and made by Indians.”
Raman officially founded his gambling affiliate marketing agency Mediarun Digital on his 18th birthday, though he’d started running the business a few months prior, working on the casino affiliate site vegascasinos.in. However, the early years weren’t smooth sailing – he dedicated all his time to learning SEO from the ground up and “experimented like a mad person while bleeding money”. Then in 2022, the tide finally turned for Raman and his team, and they started acquiring tons of traffic from Telegram.
I wanted to offer something different, a service that’s for Indians and made by Indians
Now, four years after launching the company, Raman has moved to the UK to study business management full-time at the University of Manchester, all while arranging client meetings and managing his team of 15 employees. The affiliate has expanded to seven domains targeting popular Indian gambling niches such as Teen Patti and cricket betting, in addition to providing a wide range of marketing services from designing Google ads campaigns to media buying.
“Crazy potential”
With over 12 million active gamblers, India is undoubtedly one of the biggest igaming markets in the world. But much like the US, regulatory challenges loom in the country. Chance-based games including lottery and roulette are banned in most Indian states. In October 2023, the Goods and Council Tax Council (GST) announced a 28% turnover tax for gambling operators. Then in January 2025, new regulations were enacted to block gaming sites with tax evasion records.
While Raman acknowledges these barriers, he is not particularly worried about the future of his affiliate business. A key reason for this is that all his operator clients are international brands based outside India, thus exempt from the tax law.
“Only domestic brands are taxed, which means people can just withdraw and deposit to offshore betting sites without an issue,” he explains. “I don’t think the Indian government is going to add more regulations either. Right now, the ruling party has a small majority. If they had a huge majority, they might sneak gambling regulation in. But for now? They have bigger issues to focus on. So for at least the next five years, I don’t anticipate any major changes.”
Instead, Raman emphasises the “crazy potential” he sees in the market. As he previously commented in our 2024 feature on the Indian igaming market, the growing disposable income allows Indians to “take risks experimenting with how to spend and understand how to enjoy their money”. Exposure to international media and visits to casino destinations like Las Vegas have sparked interest among the nation’s population. Moreover, Raman highlights a unique aspect of India’s betting landscape – its obsession with cricket.
If the Indian government had a huge majority, they might sneak gambling regulation in. But for now? They have bigger issues to focus on
“Cricket is not just a sport in India. It’s something we learn to play when we are three years old. It’s the bread and butter for everyone, which is why the market is dominated by cricket betting,” he notes. “I’m a very emotional bettor and I watch my beloved Rajasthan Royals. If there’s a good match going on, I would even tell my employees to stop working to watch it together.”
Beyond language barriers
One of the common hurdles affiliates face when entering a foreign market is usually localisation. But as Raman explains, the biggest challenge within India isn’t necessarily the language barrier – in a country with 121 major languages, it’s naturally difficult to optimise the content for all – but rather understanding regional differences and smart branding.
“India’s population is extremely diverse. Some states do better than others, so you need to know why and what people want. For example, betting on horse racing does very well in Maharashtra; Bengal and Kabaddi do well in Hindi content. There are many things that could have impacts,” he says.
We’ve had multiple Instagram pages with millions of views, and then – boom – banned overnight. It’s such a waste of resources and effort
When it comes to branding, though Raman says he is still conducting “trials and errors” to find the best practice, a useful strategy would be avoiding betting-related terms such as “gambling” and “casino”. One reason is that this could help attract a wider audience through SEO who are looking for sports insights and data. In addition, this approach could help affiliates circle around social platforms’ ban on gambling promotional content.
“We’ve had multiple Instagram pages with millions of views, and then – boom – banned overnight. It’s such a waste of resources and effort. It’s very unfortunate,” Raman recalls.
For those planning to expand their pools of influencers, Raman recommends exploring Telegram channels, given that India has the highest number of users of the app in the world, and bettors typically “believe that their gambling activities will be private” on the platform. However, he notes that “it’s difficult to find the right influencer” to collaborate with, as many tend to charge a small fortune for gambling content.
“I would like to start with micro or mid-tier influencers, but I’m also in the process of building them myself. I’m giving them a platform, growing them from scratch. It’s one of our many experiments,” he says.
Furthermore, as Indian authorities crack down on popular payment systems like Paytm, Raman believes many players will “move towards crypto”. To benefit from this shift, he suggests affiliates work with operators known for crypto, who usually “have their own wallets and systems in place to make the payment experience smooth for players and affiliates.” Another adaptive strategy is to work on sites’ SEO, incorporating crypto-related keywords into content.
This spring, Raman is particularly excited about the Indian Premier League – the world's biggest cricket event – not just as a fan, but as an opportunity to craft innovative digital strategies around it. He also recently signed a charity partnership, pledging to donate ₹100 (£0.92/€1.10) for every FTD generated through his cricket betting site. For him, the road ahead is long yet full of opportunities.
“It’s funny sometimes because the people I work with have 20-30 years of experience - longer than I’ve been alive,” he says. “But it’s absolutely amazing to learn from them, and this learning experience is something I look forward to the most in the igaming industry.”
Raman is juggling it all this year – swinging for sixes with his influencer strategy, cracking the Indian keyword code, and graduating uni – proving that age is no barrier to success in igaming.