Why India is Attractive to the OnlineGambling Industry. India’s online gambling market’s evolution is being driven by the growth of its middle class, and the growing ubiquity of the internet. With a 50% penetration rate, there are over 560 million Indian internet users, putting it second in the whole world behind China. With a market that The online gambling industry in India has so far been allowed to exist as an untamed giant. And while it is technically possible for Indians to gamble online on any of the betting sites in India or play on real money apps and games, it would be in the collective interest of both the government and the people to formally legalize gambling. The Future of Gambling in India Despite the want for a broader, more legal gambling industry, the government won’t bring money to the state coffers. Since The Public Gaming Act was established in 1967, land-based casinos are prohibited, and breaking this law received significant jail time. In COVID-19 outbreak, Chapter 2.2 of this report provides an analysis of the impact of COVID-19 on the global economy and the Online Gambling & Betting industry. The Indian locals are surely at risk with illegal gambling activities and there’s really no better way to fix this than to regulate the local gambling industry. With how much the Indians are already spending on online casino games and sports betting, India will surely gain a lot from legalizing these activities. Growth of Online Casino Industry in India. The online casino and gambling space have been on a success roll in India over the past few years. It is not only the inclination of people towards online gambling but also the unprecedented suite of services offered by the firms which have attracted Indian people significantly. An online gambling industry in India that is regulated makes sense for many reasons including: It allows domestic casino companies to compete with foreign players. The final factor, which is leading to growth in the online gambling industry in India is the increasing regulation in Europe. That may seem to be an obscure reason, but the reality is the UK, Sweden, Italy, and Germany regulators are all placing heavy restrictions on gambling companies. The issue of online gambling in India laws in India still remains a grey area which is yet to be adjudicated by Courts of India. Having said that, necessary inferences can be drawn from orders passed by the Court while deciding the issue of whether a particular game is a ‘game of skill’ or a ‘game of chance’. Online gambling industry in India 2020. India has one of the fastest-growing online gambling industries in the world, with the market value estimated to be worth over 60 billion Indian Rupees at the end of last year. This figure is always rising and is projected to push beyond 250 billion Rupees in the next ten years.
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