The new era of entertainment: How online gambling is growing in India
By TOI Staff
October 26, 2023
Update on : October 26, 2023
With a huge growth in online casinos and online gambling, India is set for a record 29% rise in gambling from 2023 until 2028. 80% of citizens in India gamble on a yearly basis, making the world of betting a new era of entertainment for the country. However, The Public Gambling Act from 1867 declared that any gambling which considers betting for money illegal, unless it is used for a bet that includes skill – though different states don’t abide by these regulations, and games like ‘Rummy’ are not included in the ban, it’s still a preventative for many who choose this sport. Now, with that 80% of the population choosing this new world of entertainment for their pastimes, many are either using their skill to win the big bucks or going underground to the illegal casinos.
Where did gambling come from?
Though many claim that Gambling was influenced by the British upon entry to India during the British Raj in the 17th century, it actually has a lengthy history in its own right. With a diverse and cultural history, betting has seen all stages and all kinds of regulations that have constantly been changing. Dating back to 2000 BC, you can see in Hindu Mythology that gambling was mentioned there and then. Though it was worlds away from the online pokies we know and love today, the game was actually played using nuts to be thrown as dice, and makeshift pieces. A complete difference from the variety of options we have on our phones today, this form of gambling was a far lighter touch approach to the sport.
Though it was mentioned in some of the historical books, Europeans are the ones who created the gambling tax all the way back to the 15th century – when the taxes were to be paid directly to the King. This was the beginning tax in the gambling world as we know it, and since, the globe has experienced a categorical influx in all forms of taxes and legislations.
The biggest boost in the world of gambling in India was thanks to their love and devotion to Cricket. By the end of the 18th century the sport managed to take the top spot for being the number one sport to bet on. Though things have changed monumentally, the game of sport is still India’s most watched and played, and it is certainly the place where citizens choose to place a bet.
The move to online casinos
From nuts as dice, to scouring the web on your newest iPhone, gambling in India has changed to a more universal game. According to Statista, India’s market for online gambling is expected to have a market share of over 12.17 million users by the year of 2027 – and seeing that India has the biggest population in the world, these rates are sure to increase. Online casinos are the one-stop shop for people across the globe, given that access to mobile phones is more prominent than ever.
These online gambling platforms are available via the internet or by downloading an app straight to your phone. From casinos, fantasy sports, poker, blackjack and much more, the general population has access to all this in a few clicks. The market value is now estimated at a couple of billion dollars, which is exactly why the 28% tax on allonline gambling, casino and horse race betting companies comes into play by 1st October 2023. This is in a bid to crack down on these gambling companies becoming wealthy from a form of entertainment that the government isn’t happy about.
The opportunities it brings to India
Though it’s evident that gambling and casinos are growing, there can be both negative and positive attributes to this new era of spending. New jobs have been created via technological advances of the online gaming and gambling world, meaning there is an influx of more qualified job roles. The revenue, however, is the biggest positive to India’s infrastructure. Once the new taxation hits in 2023, the government will see a huge boost to their economy, as though it will affect the gambling companies, it will in turn assist with building the country’s wealth. Wealth, skill building, and growth in the economy are a huge necessity for this growing country and may see India’s poverty rate lessen.
Right now, there has never been a better time to indulge in this form of pleasure, as gambling will be on the rise for many years to come. You can expect laws to constantly change, but one thing that will never disappear is the devotion that India has for both sport and betting, and its search for a fun pastime.
Legislations happening now
The Ministry of Information has come forward as of late to discuss the ban of all gambling advertisements in the lead up to some of the biggest cricket tournaments around. The advisory has explained that there is always a notable interest when it comes to sports games, and they wish to crackdown on all advertisements to lessen the number of individuals turning to gambling – but it is doubtful that this will make much of a difference, given the rate of increase is exceedingly more than any other country.
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