India seems to have realized that it is missing out on a potential revenue waterfall by continuing to block online gambling.As a result, a government committee has been set up to consider various angles for legalization.
India is making progress towards legalizing gambling.A team of seven, including the state minister, has been appointed to find a node that will lead the industry.The team's duty is to develop regulatory mechanisms to protect players and create a transparent and well-founded industry.
This panel discussion examines the legal and legislative frameworks currently used by regulators around the world.This information and analysis will help in policymaking to overcome anti-gambling sentiment in certain parts of the country.
Suppression of dark gambling
In addition, the government hopes that the legalization of gaming will reduce the presence of underground gambling.Over the past few weeks, investigations into illegal gambling have been intensified in each state, and authorities have carried out numerous operations to prevent illegal gambling in cricket matches.
According to the media Kashmir Life, the Indian Fantasy Sports Federation (FIFS) welcomed the news.It's a big step to show that the government recognizes the role of the online gambling industry in India. "“The Task Force is a major step towards increasing regulatory certainty for the emerging and fast-growing online gaming industry,” he said.
With the exception of the Supreme Court's case law on skill-based games, there has never been federal law governing India's gambling industry.Each state has its own position. In March, the All India Game Federation (AIGF) launched a campaign to encourage all states to take a proactive approach to developing a strong policy framework for online gambling.
It was a month after the Karnataka state government's futile effort to ban all kinds of gambling last September.Lawmakers enforced the ban, but the Karnataka High Court overturned the measure.
Kerala also attacked online gambling last year.He defined online lamy as a game of chance and tried to stop it.However, the Kerala High Court ruled that the card game was skill-based and overturned the ban.The same scenario was rolled out in Madras State in August.
Challenge to the future
As more states recognize the potential for online gambling revenue, authorities began considering the possibility of imposing restrictions on online gambling in April.As a result, the government has decided to consider establishing a new regulator to lead the field.
The Online Gambling Regulation Act (OGRA) establishes the Online Gambling Commission, the central regulatory body for online gambling.The committee has the authority to monitor the activities of online gambling businesses and punish businesses that do not comply with the law.
It will also allow you to issue, suspend and revoke online gambling licenses.In addition, the committee will be able to create licensing rules, such as who can gamble.
However, some people still want to stop online gambling. Anbumani Ramadoss, chairman of the Pattali Makkal Katchi Party (People's Party of Labor), has criticized India's ruling party for advancing the bill.However, the ball seems to have already started to move.
Increase in online gambling
Ernst & Young and the Federation of Indian Chambers of Commerce published a report on online games in India three months ago.As a result, we found that the number of paying customers in this area increased by 3%, increasing from 17 million in 2020 to 8000 million in 2021.
In addition, the number of online game users increased by 8% during the period, jumping from 3 million to 6000 million.According to the report, this number will increase to 3 million by next year.
The Indian online game market also grew 28% during the period. It was 2020 billion rupees (US $ 790 billion) in 10, but reached 1000 billion rupees (US $ 1010 billion) the following year.
There is no specific schedule for OGRA's efforts to reach a conclusion.However, regulations may be put in place by the end of the year.
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