Who won’t like making easy money by playing betting games or gambling over hard labor? Casinos, betting and gambling are risky yet quickest ways to get income without having to work long hours at the same job.
In India, gambling has a long and complicated history dating back to 3,300 BC. Most people in India’s streets play pot-money games like Teen Patti and Andar Bahar.
Now that online casinos are a big industry, and the internet is full of these. To monitor the state of internet gambling and casinos, countries around the world have enacted their own rules, regulations, and prohibitions. However, it is somewhat surprising that a country like India keeps a close eye on gambling, lacks a well-developed gaming industry, and restricts most types of betting.
The Future of Online Casinos in India
What does the future hold for Indian online casinos?
Gambling is a multibillion-dollar industry in India. Despite the pandemic, it has remained unaffected and is expected to grow even more in upcoming years. Every state legislature of India has the right to constitute its laws and regulations. Online gambling is still in its early stages in India. The India IT Act, 2000 regulates all cyber operations in India and ensures that no sensitive or corrupt information is thrown at the public. But in that act, there isn’t a single mention of online casinos anywhere.
Currently, in India, only Sikkim, Daman, Diu, and Goa are among the Indian states that allow legal land-based gambling. It should be noted that Gaming laws differ from one state to another.
The growth of online casinos in India
The growth of online casinos in India is due to many factors. However, the following are some of the most notable factors among them:
Accessibility of smartphones
According to projections, over 470 million mobile internet users would be active by the end of 2021 in India. By 2022, this number is expected to reach half a billion. To be honest, due to IPL and multilevel advertising, mobile gaming has grown in popularity due to smartphones being widely available to the general public. In this growth of mobile gaming, betting apps have grown a lot as well.
The Coronavirus pandemic has had an adverse impact on many sectors, yet the online gambling industry appears to be constantly thriving. The revenues of gambling industries have stayed consistent throughout the outbreak. People are obliged to stay at home due to the strict lockdown and safety precautions. Land-based casinos are closed, and in some areas, they only allow only a limited number of players. The current global situation has forced gamblers to open an online casino account and play real money casino games from the comfort of their own homes.
As a result, despite the COVID-19 problem, chance-based online games have remained firmly in the gambling sector.
Because of the social stigma associated with gambling, some gamblers prefer to play in secret, where they are less likely to be condemned even if they lose. This is where online gambling platforms help them maintain that privacy.
When it comes to online gambling, it appears that the mobile sector is gaining traction. Smartphones and tablets have advanced to the point where we can now play games on them. Because of mobile technology, online gambling has become more accessible, and people can now play their favorite casino games from anywhere in the world.
Whatever casino game you choose to play, whether it’s a slot machine or a casino table game, you can now do so on your smartphone. Additionally, several online casinos let you play live dealer games on your smartphone.
Internet gambling promotes equality because it treats all the players equally. Unlike traditional casinos, the internet allows everyone to play regardless of their financial condition.
Fast internet speed
Internet speed in India was once a major source of concern. But the introduction of 4G and 5G technology has significantly increased internet speed. While the 4G connection is good for gaming and browsing, the 5G network is now becoming more widely available, and it is just getting better and better. People’s gaming experiences are improving drastically with a lightning-fast internet connection. It is now possible to play many casino games simultaneously with a smartphone and a 5G connection.
Easy to navigate platform
Online casinos make sure their gambling platforms to be simple and easy to use so that players of all skill levels can find their way around. Also, making sure, Anyone with basic tech knowledge can play online casino games.
Multiple payment methods
Online casinos accept a wide range of payment methods, which is a prominent factor in their success. Indian players have several payment options, including UPI, Netbanking, Skrill, and cryptocurrency, which are the most fitting payment methods for Indian gamblers. In addition, the majority of online casinos accept Indian Rupees, and payment processes are instantaneous.
Legal Forms of Gambling in India
Speaking of other countries, each country has its regulations, prohibitions, and legislation that regulate the status of online casinos and gaming.
Similarly, in a country like India, online and physical casinos, gambling, and betting are governed by long-standing rules that aren’t always clear. Numerous casinos cater to the Indian market, which you can find by searching “Online Casino India” online, including but not limited to Bons, LeoVegas, 22Bet, Royal Panda, Rizk Casino, etc.
Some states in India are opposing and trying to ban land-based casinos. But, on the other hand, the states like Maharashtra, where online gambling is completely banned and immediately prosecuted under the “Bombay Wager Act.” While eastern Indian states, namely Sikkim and Nagaland, have a free mindset and offerings for the casinos.
To say it briefly, India’s legal system is muddled when it comes to gambling. The Indian government makes a legal distinction between different types of gaming. Games like poker, which are primarily based on ability, are from the statewide ban. However, even poker got its legal status in 2013 with the high court’s decision favoring previously raided poker clubs. Despite this, the majority of Indian states do not yet issue licenses for internet gambling.
In India, suitable statewide legislation to oversee such operations is yet to be introduced. Currently, the online sector is not regulated, with Sikkim being the only state to run both online and land-based betting. However, the Sikkim Online Gaming Regulation Act of 2008 is in charge of regulating this latter.
The Size of the Gambling Market in India
Because of the lack of rules and the large underground market, calculating the size of the gambling business in India is more complicated. However, the total market (including land-based and online gambling) is estimated to be worth more than $70 billion.
With over 100 million gaming fans, India’s gaming sector is undoubtedly booming, with 41% of them visiting gambling websites daily. Around 75% of them come from four major cities (Mumbai, Delhi, Bangalore, and Chennai).
In addition, according to recent studies, internet usage in India has surged 20-fold in the last five years. So overall, the Indian online gaming business is ripe for growth and ready to explode.
Online Casinos and Gambling: Their Scope and Future
It’s only logical that an utterly foreign country like India, which is still not susceptible to the online gambling sector, is becoming a hotspot for many foreign countries and businesses trying to cash in and gain huge profits.
In India, online casinos are not only surviving but proliferating. Even amid a pandemic, the future of online casinos in India is bright and will continue to climb.
The cricket betting app lets you bet on cricket games whenever and wherever you want. Cricket is a popular sport, mainly among bettors. Cricket’s entertainment value, thrills, and rush make it even more appealing to sports and betting fans. Betting is primarily done online through mobile phones, which is why many bookmakers have a dedicated app for this purpose. Bettors can effortlessly bet on numerous cricket tournaments and teams worldwide using a user-friendly and straightforward cricket app.
Additionally, India’s adult population is three times that of the United States. A large adult audience refers to a big market of consumers willing to spend money attracting online casinos and gambling businesses to India.
The causes mentioned above are some reasons for online casinos to stay unaffected even when the world’s socioeconomic situation is going downhill. Although the Indian government is still conservative regarding gambling, it doesn’t have any laws and restrictions on overseas casinos that welcome Indian players. Therefore, we cannot deny that internet casinos have played a significant role in keeping India’s economy out of debt. For the time being, there are no indicators that internet gambling will be slowing down anytime soon. In fact, technological improvements have enabled Indian players to access various gambling sites that offer both casino games and sports betting.
In recent years, the public’s attitude toward gambling has gradually shifted to a more positive one. Lawmakers are slowly discussing legalization due to the benefits it will bring to the country’s economy. Activities that were once considered immoral, such as gambling, are no longer considered so. The scale of the internet gambling sector is rapidly growing, and it’s about time for the government to step in and regulate it.
However, it is impossible to anticipate what will happen to internet gambling in India in the future. Nevertheless, players must relax knowing that it is operating legally under some loopholes. As long as the online casino you choose to play at is based outside of India, gamers can play without any fear of breaking laws. However, there might be more clarity regarding the rules and regulations on this in the near future.
This means for the moment online casinos are far from being illegal. So, you can grab your purses out and start playing!