Latest News
21 May, 2022
India
28 ° C
Back
online gambling

Online Gambling: Everything You Need To Know

2021 was a momentous year in terms of economic recovery for the country of India. Coming from a global pandemic that ravaged the entire world’s economy, India was one of the countries that got hit the hardest. Fortunately, towards the end of 2021, the Indian economy showed signs of growth and recovery—a welcome symbol of hope for the Indian people and its government. One of the major drivers of that growth was the online gambling industry. And while this particular sector of the market managed to help push the economy forward in the aftermath of a deadly pandemic, the industry itself was not free of any controversy. The online gambling activities in India served as a topic of hotly contested debate in the media, courts, and government institutions.

The Controversy Surrounding Online Gambling

There’s no denying the fact that online gambling is an industry on the rise. It’s been showing an upward trend ever since the concept was first introduced to the market back in the 1990s. And as society grew to further embrace the wonders of technology and as more customers managed to gain access to high-speed internet, the online gambling market only continued to rise. A lot of that had to do with the convenience that comes with being able to access these gambling platforms from any kind of internet-ready device. Whether it be desktop computers, smartphones, tablets, or laptops, people are now virtually capable of accessing their favorite online gambling sites regardless of wherever they are at whatever time of day.

However, as online gambling continued to rise in India, many sectors of Indian society have come to a crossroads with regards to how the industry should be handled and regulated moving forward. Many proponents of online gambling in the industry say that the online gambling sector is providing so much in terms of economic contributions to the state. Aside from that, the industry has generated employment and growth opportunities for many of India’s workers. However, on the opposing side, many members of the Indian Parliament and the media have questioned the morality of online gambling and how it could potentially lead to addiction, mental health problems, and financial losses.

Continuous Growth

As it stands, the online gambling industry in India is estimated to be worth around Rs 13,600 crores. Experts also say that the number is expected to double in size within the next four years. By the time the year 2025 comes rolling around, analysts say that the industry will experience a compounded annual growth rate of approximately 21%. It’s also been reported that there are more than 43.3 crores documented users of online gambling apps in India alone. That comprises around 50% of the total population that falls within the 15 to 64 age range. It’s no surprise that a site like Betnero can garner tens of thousands of visitors in any given week within India. The gambling market in India is one of the most lucrative in the entire world.

The Legality of Gambling

Strictly speaking, online gambling is illegal in most parts of India. However, it’s not always so cut and dry as the laws surrounding gambling in the state don’t necessarily account for online gambling at all. India grants autonomy to all of its states to create their own individual laws when to gambling. As of now, there are only three states that allow the establishment of gambling operations. These states are Sikkim, Goa, and Daman. Indian citizens are free to travel to these states and engage in their gambling services legally.

However, when it comes to online gambling, there aren’t any established operators within India itself. That’s why Indian citizens typically access offshore platforms that have licenses from other countries. This is where most of the controversy lies as there are no provisions in the law that explicitly prohibit this practice. Yet, it’s becoming more difficult for the government to turn a blind eye to Indian online gambling activity as it continues to gain more prominence across the nation. 

Looking Forward

Only time will tell whether the parliament is going to take a harder stance against online gambling. But as it stands, the industry is on an upward trajectory and it’s likely to stay that way unless government chooses to intervene. 

guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x