Online Gambling
Should online gambling in India be regulated? The answer to this question depends on the interests of the industry as well as the law of the land. While some are supportive of the idea, others are against it. In any case, regulating the industry is important for the safety of the industry and its participants. Here are some pros and cons of regulating online gambling in India. Weigh the pros and cons before making a decision.
There are many advantages to regulating the industry, such as taxing profits. The gaming industry is highly transaction-based and has both legal and illegal components. The market in India is estimated at $150 billion, but some parts of the industry are already regulated, such as horse racing betting, casinos in Goa, and certain skill-based games in Nagaland. Despite the numerous benefits of gaming, it is not clear whether online gaming should be fully regulated or left as it is.
While the Indian Constitution recognizes the need for regulation of online activities, it has failed to justify a total ban on games of skill. Its arguments based on lack of scientific evidence and anecdotal evidence lacked justification. Therefore, the state’s arguments were disproportionate to the object it sought to achieve. This means that online gaming in India will continue to be regulated for some time.
Should Online Gambling in India Be Regulated?
While online gambling is not yet legal in India, the government is taking tentative steps to regulate it. The government has appointed a seven-member panel to examine the legal framework for online gambling in India. This panel will take note of the laws in other jurisdictions. The panel should also consider the anti-gambling sentiment in some regions. Ultimately, the goal is to ensure that online gambling in India is transparent and regulated in a way that prevents illegal activity and exploitation.
While there is no centrally-imposed regulation for online gambling in India, certain states are pursuing the idea of regulating the industry. For example, Maharashtra is currently contemplating regulating online betting in order to raise tax revenue. The proposed law may also include games of skill. However, it is important to note that the Indian Constitution does not change certain articles related to online gambling. Moreover, it is unclear whether the Indian government will regulate online gambling.
A major area of contention is the definition of what constitutes “gambling”. While the government can repeal the Public Gaming Act of 1867, this would lessen the power of states to regulate the industry. Perhaps a better workaround is to simply update the definition. Mexico, for example, defines gambling as “any act involving wager.”
The online gaming industry in India continues to expand exponentially. But, the absence of a uniform regulatory framework is a major challenge for operators. The recently merged GST council, the Ministry of Finance, and the E-Gaming Federation, have met to discuss the future of online gaming in India. However, this is not the only problem facing the industry. While online gaming companies are a growing industry, the government must also consider the interests of consumers.