Over the past decade, gambling in India has tremendously grown with at least 80% of Indians gambling at least once per year. India is one of the countries with a high demand for gambling. A large part of social and cultural life in this country involves gambling of some sort.
However, the issue with gambling in India is that there is a law, which prohibits the operation of a casino. This is because the critics of gaming believe that it leads to money laundering, crime, and corruption. Those in favour of it argue that it is a considerable source of income for the country.
Apart from horse racing and lottery, online gaming was not quite prevalent in India. Then in 2008, online casinos were introduced to the public. Currently, there are only three states in India that allow land-based casino gambling, and this is why most people have turned to online betting.
Thanks to the rise in e-commerce platforms and easy access to the public internet, online gambling in India is becoming famous. More than 50 million gamers use their PCs and mobile phones to gamble online. Different states have legalized online casino gambling after witnessing a massive annual gambling revenue growth. This has led to the development of more online casino as well as the peoples’ interest in online gaming. The gamers bet using the US dollar, but the payout is in rupees.
Advantages of Online Gambling
Increase in Revenue
Estimates about the size of the gambling market in India vary according to various private and government agencies. It is estimated that the volume could be around $ 50-$60 billion, while other, more recent, studies from financial institution peg the value even to higher numbers.
Creation of Job Opportunities
Apart from revenue generation, legalizing gambling will surely create huge employment. Globally, wherever gambling is regulated, it has created a massive opportunity for employment generation as in the case of India it would generate direct and indirect jobs.
Source of entertainment
After a hard day’s work, some business people find comfort on the entertainment and fun brought about by gambling. These people invest some of their time and money to enjoy the games and amenities provided by the gambling facilities and casinos. Gaming has also provided lots of help to the hotel industry as tourists book hotels adjacent to casinos.
The Future of Online Gambling in India
Reports indicate that every day more and more Indians are turning to online gaming and this shows a bright future for gaming in India. This is because players have the chance to make money and still have fun.
In today’s world, most people are turning their hobbies into their full-time jobs where they can earn real money. Most countries are reaping high dividends after legalizing online gambling. However, Indian politics are yet to make much progress towards the gaming industry.