Data shows the iGaming industry in Nepal was hit hard by the recent protests in the country.
While Nepal is not particularly well known for iGaming compared to many other Asian nations, the country’s sector has been experiencing solid growth in recent times.
However, the recent announcement that social media would be banned in Nepal has had a huge impact on the state of the iGaming industry there.
Blask, which produces an iGaming market power ranking among its industry research, has uncovered the extent to which the social media ban affected iGaming.
According to the company’s findings, Daily Blask Index figures were at 26.3k for Nepal on Tuesday 2 September, but a week later had fallen by almost three-quarters.
This indicates a huge drop-off due to iGaming being heavily tied to social media use.
What Happens Next?
A U-turn on the social media ban was swiftly completed, but perhaps the damage is done.
Nepal’s iGaming industry will be looking to bounce back as quickly as possible, but the country has a lot on its plate as a result of the headlines it has made around the world.
All eyes are on Nepal to see what happens next and iGaming operators will be watching closely to see whether or not the country’s market is worth targeting.
While iGaming can be big business in parts of Asia, Nepal has proven to be a unique case.
During the course of the past year, the Nepal Blask Index had risen by 72% but data monitoring will be necessary to see how the industry responds to the crisis in the country.
There had been dozens of iGaming brands – 48 to be precise – operating in Nepal prior to the crisis, but political upheaval and uncertainty could put them off targeting this market further.
U-turn On Ban Came After Protests
Nepal does not often make the news, but deadly protests after social networks such as X and Facebook made headlines across the planet.
Young people took to the streets to show their disapproval with the announcement, with only a handful of networks such as Viber and TikTok having been given approval to continue in Nepal.
The clampdown on the protests was swift and vicious, with local police forces not holding back. In all, at least 19 people died from serious injuries sustained at the Nepal social media ban protests, with reports stating that this included bullet injuries to the head and chest.
Media said most of the protesters who lost their lives were in the Nepalese capital city of Kathmandu, but a small number were in the eastern city of Itahari.
“We are shocked by the killings and injury of protesters in Nepal today and urge a prompt and transparent investigation.”
– UN human rights office spokesperson Ravina Shamdasani said.
Nepal’s home minister, Ramesh Lekhak, stood down in the wake of the killings and it was not long until there was a further change at the top of the country’s political system.
The prime minister, KP Sharma Oli, saw his fourth term in charge come to a sudden end and the protesters helped to put Sushila Karki in place as Nepal’s first ever PM.
Karki, the former chief justice of Nepal, will now lead the country through a time of crisis.
How Big Is iGaming In Nepal?
Nepal is often seen as being a gateway to tourism in South Asia due to its location between India and China, but big business is seeing the same advantages.
The country’s gaming market has an estimated compound annual growth rate (CAGR) of 10.7% from 2020 to 2026.
Nepal has a land-based casino industry, which is mainly aimed at tourists, but iGaming is also on the rise in this part of the world.
Many Nepali gamblers use offshore casino and betting websites with operators offering them a chance to sign up and play games.
As the majority of the Nepali gamblers preferring online are under the age of 35, this suggests a boom period for iGaming could be on the way.
But with memories of the protests unlikely to fade any time soon, a period of flux may follow.