The Future of the Online Gambling Industry in India
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Gambling is a beloved pastime that many people throughout the course of history have found much joy, fun, and excitement in. However, not all parts of the world have embraced gambling as well or as readily as others. When it comes to certain state governments, gambling falls within a grey area within society’s moral fabric. This is the case in India despite having most of the population engaging in regular gambling even today. Gambling is an incredibly taboo and complex area of discussion in India. It’s an incredibly popular recreational activity among the masses, but the Indian government hasn’t always echoed this sentiment.
When the COVID-19 pandemic took hold of most of 2020, much of the world was forced to quarantine themselves indoors and minimize mass gatherings in public spaces. In India, there are a few land-based casino establishments in very few states. This is because the regulation of gambling activities is under the jurisdiction of state law. However, once these land-based establishments were forced to cease operations in response to the pandemic, many people sought digital landscapes to get their fill of their favorite casino games. Finding and playing on an isn’t technically illegal because citizens merely access offshore casino websites that are beyond the jurisdiction of the Indian government.
Why Has Online Gambling Become so Popular in India?
Much of the rest of the world might consider India’s laws surrounding gambling to be archaic. In fact, the primary piece of legislation that the Indian government uses to enforce gambling regulations is the Gaming Act of 1867. Despite that, the Indian public has not been shy in its modern approaches to gambling on digital platforms and websites.
One of the main reasons that gambling has become so popular in India is the sheer accessibility of gambling websites. Again, India is a technologically advanced country, especially when compared to neighboring nations within its region. That means that access to technological devices like smartphones, tablets, and computers with a high-speed internet connection is abundant. Earlier, it was mentioned that only select states in the country have laws that legalize gambling in a physical form. This means that people typically have to travel to these states in order to partake in any kind of organized gambling. However, online gambling has effectively negated the necessity of having to physically travel to these locations in order to play standard casino games. The process has been radically reduced to merely hopping onto a specific casino platform and choosing from the variety of games that are available to play.
That’s another reason why online gambling has become immensely popular. Online casinos are essentially able to mimic the variance and abundance of games that traditional casinos are able to provide. And the best part is that players have access to all these games without even having to leave their homes.
What Does the Future of Online Gambling in India Look Like?
Reports have shown that the online gambling industry in India actually makes up over 15% of the world’s online gambling activity. This should come as no surprise as gambling is a nation that has always had a strong gambling culture despite what state legislation may imply. Aside from that, India is a technologically developed nation with people who are more adaptive and receptive towards emerging technologies and trends. It’s estimated that around 80% of the Indian population engages in some form of gambling at least once a year. Experts say that given the size of the online gambling industry now, it will still continue to grow by as much as 41% by 2024.
There is a lot of pressure on the Indian government to start adopting more modern legislative approaches towards the regulation of gambling in the country. The tax opportunities that the gambling industry present may just be too much to pass up for any kind of developing nation. Many nations across the globe have used their own individual gambling industries to help strengthen their economies. This should be a serious option to take into consideration, especially since India suffered great economic losses as a result of the COVID-19 pandemic. Whatever the case, the online gambling industry in India is going to continue to thrive as technology grows to become more sophisticated and accessible to the mass public.
