Following the launch of the country's first online lottery by The Essel Group last year, Shapoorji Pallonji Group and Modi Enterprises are among the sector's latest entrants.
Modi is investing US$21 million in advertising with WPP Group's Redfussion DY&R, while Shapoorji is also gearing up to make its foray into the venture with an initial investment of more than $42 million.
The lottery business in India is restricted to a few states in the country, including Maharastra, Manipur and Karnataka.
However, in a country where the average per capita income is less than $50 a month, online lotteries are proving to be money spinners, with internet users clinging to the hope that a single winner could walk away from the computer with 20 million rupees (US$423,146) or more.
Companies in the online lottery business are also forging partnerships with television networks and mobile service providers as part of efforts to take the game into every home. Essel Group's Playwin Infravest tied-up with the country's largest broadcasting network, Zee.