Gambling online is just taking over the minds of people; it has managed to make as many people as it can to engage into itself and get into the wrong means of earning money. Online gambling has now been part of a glamorous world now. People consider it as part of their status to showcase to the society.Gambling or betting is illegal or restricted in most forms throughout India, except lotteries and horse racing. However, the existing legislations governing gambling in India are too old and do not speak about online gambling as they were all enacted prior to the advent of internet.
The gambling act!
The Central Act in this regard is the Public Gambling Act of 1867. It doesn’t speak about online gambling.Furthermore, in absence of adjudication on legality of online gambling by Indian courts, it continues to be a grey area.
It is noteworthy that despite restrictions, gambling continues to be practiced illegally throughout the country. In fact gambling in India goes a long way. It has been practiced traditionally and culturally also in major festivals like Diwali.
The marketing strategy:
It is said that the illegal gambling market in India could be worth billions of US dollars.Most of this money changes hands through illegal channels creating a huge underground economy.This means there isa huge loss of revenue to the government,which could have been earned,had the gambling been legal and taxable.Thus there is a strong argument in favour of allowing regulated gambling in India.
The final thought:
However, given that gambling is considered as something against moral fabrics of society by most authorities, Courts and public opinion in India it has still not been possible.If we look at the worldwide scenario, the online gambling industry has witnessed tremendous growth since the advent of online casinos some two decades ago, and it is still growing fast.
Online gambling and betting has been legalised in many countries. As a consequence, the governments are collecting sizeable revenue in taxes. Sports’ betting forms a significant part of online betting. It has given rise to entities which not only bet on but sponsor sports teams as well. This means better earnings for all parties concerned.
Legalizing thus provides many advantages which can’t be ignored. In today’s world, access to online gambling is easy and it would be difficult to stop people from gambling.