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The Indian gambling industry is currently worth around $60 billion, so certainly one of the bigger markets in the world. It is said that this is split roughly down the middle, half of this is legalized gambling while the other is not.
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The gambling laws in India, particularly those around casino gaming and online play, are very complex, and considering the size of the industry, it is no surprise to see the country looking to change things.
Online Casino Laws in India
India is currently reconsidering making online casino gaming legal, many people already do it, but as of now, India doesn’t see a benefit to the money spent by players. If the rules changed for the better and made this legal, then the country would start to see a benefit.
At the moment, many offshore gambling companies offer legal casino sites to people in India according to luckydice.in. The law as it stands now doesn’t prohibit Indian players from accessing these casino sites and some of the bigger names even allow players to deposit and bet in rupees, so they are clearly targeting Indian players with their service.
There are a couple of laws in place, the Information Technology Act of 2000 and the Federal Information Technology Act of 2011 that both try to stop online gambling taking place in India. However, neither of them has specific laws attached which says that online gambling is illegal in the country.
Land Based Casino Gaming in India
The only gambling products that are fully licensed and available across the whole of India are lottery gaming and horse racing betting, even betting on other general sports is not yet allowed. However, there are two states, Goa and Sikkim that offer relaxed gambling laws to those inside, and they both allow casino gaming as a result of this.
Many gambling companies are now targeting Sikkim as a place to offer gaming or sports betting, as the area offers licenses specific to that part of India. The belief is that when India does eventually open up, those with a license in Sikkim will be at the front of the queue for gaining an Indian license to offer gambling in the whole of the country.
The Future of Casino Gaming in India
As a basic starting point, it seems that eventually India will officially legalize gambling point across the whole country. This would be welcome by players, prevent any grey areas that are currently in place and allow the country to profit from those who are already gambling.
Should this happen then Indian licenses are going to be very lucrative, and many of the big names in gambling will be looking to acquire one so they can offer their services.
Those already attracting Indian players will want to get in their first, as they risk losing existing customers. However, there are millions more Indians who will be ready to sign up and play, if and when gambling is finally legalised, so look for a big push and a new powerhouse market created in the betting industry.