The online gambling market of India is growing at a surprising rate, despite several regulations that prohibit major gambling activities in India. It has been a revolutionary phase for the online gambling industry in India as the online gaming platforms are running lowkey without facing any legal actions from the government. According to recent statistics, 40% of the people in India have gambled at least once on online platforms. At the growing rate at which people are joining the gambling platforms, India will surpass the UK’s number of gamblers per capita. Since land-based casinos are not legal on the Indian territory, people have only one option: online casinos.
There is a great chance that the online casinos will attract 80% of the adults every year in India. Games like poker, blackjack, slots and sports betting will be the major attractions of India’s online gambling scene. New technology and regulatory framework will also play a role in the Indian gambling scene.
Why is gambling becoming popular?
More and more people in India are getting attracted to gambling due to many reasons. First of all, gambling has complex laws in India and is not available in most of the states. Only a limited amount of gambling takes place in the casino boats. Unlike other countries, brick-and-mortar casinos can face a hard time if they fail to follow the regulations of the gambling authority.
It means that gambling is not available completely in India. Each state has its own jurisdiction over gambling. Sikkim, Daman, and Goa are the only states that have legalized limited gambling in specialized establishments. On the other side, Telangana and Andhra Pradesh have banned online gambling as well.
The gambling regulation of India works under the regulatory framework of the Public Gambling Act of 1867. In recent years, there has been a significant increase in the online casino scene. Online casinos remain available in most states. It is a matter of debate that online casinos still function in a grey zone that does not clearly address the regulations and risks involved in gambling. However, the companies that are offering online gambling platforms are registered with commissions.
Offshore casino operators like Pokerstars are making profits in the Indian gaming community due to the internet availability in the majority of homes. However, the government of India has not taken any actions yet to motivate the authorities to update the gambling laws. It is time that the regulations are updated for modern gaming times. India loses $140 million every year because of the lack of a regulated online casino market. There will be other benefits of regulating online casinos, including employment, unique business opportunities for entrepreneurs, software development companies, and more. The unavailable of regulated gambling also stops us from estimating the worth of the Indian casino industry.