India is one of the most prominent gambling markets globally, but it is also among the most unregulated. The country relies on the Public Gambling Act of 1867 as the general law governing the industry. Under this law, it is illegal to run or be in charge of a public gambling house, and the penalty for doing so is Rs 200 or a three-month prison sentence. The act also prohibits anyone from visiting such establishments and hold a Rs 100 fine or one-month imprisonment.
However, even with the Public Gambling Act, state legislators are granted significant freedom to create their own gambling laws. Goa, Daman, and Sikkim are the only states that have altered this regulation to allow the activity within their borders. With the Goa, Daman and Diu Public Gambling Act, 1976, Goa and Daman allow slots in five-star hotels and card-rooms in offshore vessels approved by the state government. Sikkim also supports gambling with the Sikkim Regulation of Gambling (Amendment) 2005. The state also planned to start offering three online gaming licenses in 2010, but they failed to take off except one that focuses on online lotteries.
Even with the mounting popularity of online gambling sites like https://onlineslotsx.com/ across India, almost all states ignore adopting laws regulating the industry. The country enforces pre-independence regulations applied by British rulers, despite the UK having altered its gambling laws to accommodate almost all gambling forms. The pernicious ignorance of internet gambling has led to an unregulated prevalence of the sector, most of which operates with impunity. The indifferent judiciary, inadequate legislation, and lack of law enforcement leave India’s online gambling industry untaxed, unregulated, and unclear.
Considering the equal success and destructive nature of online gambling in India, there is a dire need to regulate it. Most nations that have a handle on the sector experience soaring success for all involved parties and mitigate the downsides caused by the practice. Below are the reasons that support India’s regulation of the niche.
Legalizes Online Gambling
Despite your inclinations on whether or not to legalize online gambling in India, there is no denying the activity will still find its way to the people’s basements. Even with the current state of internet casinos falling in a grey area, millions worldwide still engage in the activity. Legalizing online gambling will provide defined boundaries within which the industry functions to mitigate the impunity that currently riddles it. Once it is legalized, the next best step is to put a regulatory body in place to ensure that the letter follows the stipulated laws. The institution should be so reliable that players can trust its opinion of casinos worth their attention.
The current state of online gambling in India does nothing to protect gamblers from malpractice by online casinos. The lack of regulations means that anybody can open a casino and have an absolute say on how player and payment information is used and what counts as customer satisfaction. In essence, controlling the industry ensures that casino sites meet predetermined guidelines and minimum standards. Before the body in charge approves a license, casinos will have to undergo lengthy tests that;
- Run extensive background checks on the gambling den owners
- Audit the procedures and methods used to accomplish gameplay
- Confirm the randomness and fairness of provided games
- Ensure the site is in a positive cash flow position
- Check the security measures in place to protect money and personal data
- Handle complaints to resolve conflicts between players and casinos
The most prominent licensing bodies that apply these measures include the UK Gambling Commission (United Kingdom), Malta Gaming Authority (Malta), AAMS Italy (Italy), and Gibraltar Gambling Commission (Gibraltar).
A regulated gambling environment also has its advantages for casinos. In the online gambling space, reputation is everything, and nothing boosts this element more than holding a reliable license. If India proceeds with regulating the gambling market, it will promote local casino business by establishing a positive rapport with residents. Most Indian gamblers hardly trust local online casinos and prefer those with international licenses. Holding a valid Indian license will confirm to players that the listed services have been vetted for fairness and security. In turn, it will bring in a lot of business.
Creates Legitimate Job Opportunities
Currently, the Indian gambling sector operates a lot like the black market. Therefore, the repercussions of impunity and lack of law enforcement affect players and those who rely on the sector as income sources. Without legal recognition, software developers, money transfer channels, and casino operators work without the promise of job security. The niche’s regulation will offer defined lines within which these careers can operate, opening doors for more to join the venture.
Offers Economic Alternatives
Despite the lack of proper online gambling regulation in India, the country boasts a booming sector that makes it the target of most casinos. The 276th Indian Report of the Law Commission estimates that the market is worth a whopping $360 million. The widespread growth of the services makes it likely to hit $1 billion by the end of 2021. Regulating the industry can increase revenue generation for the country and individual states through taxes. Also, fees from license acquisitions can boost the economy.
Limits Gambling Addiction
The lack of online gambling regulation in India means that anybody can access casinos despite their age, financial status, or impulse control. With regulatory measures in place, the government can set a legal gambling age, which is 18 years in most countries, to restrict children from being exposed to the practice. Registering casino accounts will require players to produce identification documents to prove they are of legal gambling age. Also, gambling clubs will be required to put responsible gambling measures in place to limit problem gambling. This habit has traverse effects on individuals, their families, and the community, most of which compare to drug addiction.
The importance of legalizing and regulating online gambling in India is evident. With the federal government and state legislators involved in manning the sector, criminality will be squeezed out to preserve the integrity of one of the country’s fastest-growing industries.