Why Do Indians Spend Millions of Dollars on Gambling from Home?
The laws surrounding gambling in India can be complicated. There are different regulations across the various states in the nation that can confuse matters and leave many people unsure of where they stand. Gambling is a topic that divides many in India, including government officials. There are arguments from both camps being debates – one side looking to increase restrictions or bring about a total ban whilst the other is keen to relax laws and allow regulated gambling to become more widespread across the subcontinent.
As it stands, many Indians are left in somewhat of a gray area but that hasn’t stopped millions of dollars from being spent on gambling from home every year. The following article will explore the growth of gambling in India, some of the difficulties gamblers face, and how Indians are spending their money online.
Growth of Gambling in India
India has strict regulations regarding gambling activities both online and at brick-and-mortar venues. In a lot of states in India, gambling is outlawed but there are certain loopholes.
Online Indian casinos aren’t legal but that doesn’t mean that online casinos outside the country aren’t able to allow Indian players to play. There are lots of Indian players who use VPNs to access a larger selection of online casinos as well as Indian casino sites. Many online gambling platforms offer Indian Rupees as a payment option allowing Indian players to easily play and bet on these websites.
Being able to play online casino games without worrying about government intervention, fines, or even a prison sentence has lead to the increased growth of the Indian online gambling industry. As a result, South Asia (including India) is the second-biggest active gambling region in the world only behind Europe. The demand for online gambling platforms is only growing larger and there is no sign of that easing up anytime soon.
Payment Gateway
One of the biggest issues Indian gamblers must face is the trouble of making a deposit with a foreign operator. Online bank transfers and other popular payment options like Visa and MasterCard might not work.
As a result, many people have opted to use eWallets to make their deposits for online gambling platforms. Online gambling accounts will often provide Indian Rupees which helps get around foreign exchange laws in the country.
Despite the stringent regulations around gambling in the country, it is still incredibly popular. Some experts estimate that the gambling market in India is worth in excess of £40 bn each year with approximately half of that total figure being generated unlawfully.
Many Indians are interested in legal forms of betting and gambling and think that fully legalising the industry would benefit the country thanks to the increased potential for revenue. Because of this, there is pressure building on the Indian government to make a change and ease restrictions in the gambling sector to boost the economy and cut down on illegal gambling.
Where is Online Gambling Legal?
There are different rules for different states when it comes to gambling in India. Maharashtra is an example of a state in which gambling is illegal both online and at brick-and-mortar venues.
However, on the other side of the coin are states like Sikkim and Goa. Both of these Indian states have passed legislation to allow regulated gambling to take place within their jurisdiction. Each state has brick-and-mortar casinos that attract casino players from the rest of India.
In terms of online gambling, India will likely bring in clearer laws sooner or later. However, as it stands Indian bettors and online casino players are in a bit of a grey area but can continue to gamble online with foreign-based operators for the most part.
Best Online Gambling Platforms in India
If you’re interested in starting online gambling in India then you have little to worry about as long as it isn’t banned in your state. There is a great selection of quality online gambling platforms that are able to cater to Indian players. These are all fully licensed and regulated making them safe for Indian players to use.
It is vital that you make sure your chosen platform is reliable and trustworthy by making sure it is fully regulated. Look out for trustworthy regulatory bodies like the United Kingdom Gambling Commission and the Malta Gaming Authority so that you can rest assured that your money and personal details are in good hands.
Another important thing to look out for being getting started with online gambling is to make sure the operator offers your preferred method of payment. This is also worth checking with regards to currency. Many operators now offer crypto as a payment option which may be an appealing choice.
Lastly, it is worth comparing gaming catalogues or betting selections ahead of signing up. This is how you will be spending your time on the platform so it’s important there is a good selection of quality titles/options. Furthermore, a strong signup offer or promotion is another reason so many Indians gamble and is worth bearing in mind when you’re picking your gambling platform.
Online Cricket Betting in India
One of the most popular ways Indians gamble online is on cricket betting markets. Sports gambling is illegal in many forms but Indian citizens are able to place bets on Cricket under some circumstances.
As long as online sportsbooks are based outside of the country, they are free to offer bets to Indian customers. Indian online sportsbooks may not be allowed but Indians are allowed to bet on foreign-based online sportsbooks in some cases.
As such, Cricket is a very popular sport to bet on and sports betting, in general, has become very popular in recent times. There are lots of websites providing a great selection of betting markets and selections for India’s number one sport, leading to an increasing number of punters in India.
