Asia News
Asia News

India - A highly coveted new market

According to the latest data released by Maple Capital Advisors, the total value of the Indian gaming market currently exceeds US$ 930 million. Experts forecast an annual growth rate of 41% for this market in sync with the pace of industry development. They also predict that the total value of the gaming market will exceed US$ 1.1 billion at the end of 2020 and the number of online gamers will reach around 630 million.

Online gambling laws
In the mid-1990s, horse racing was a legal betting activity in India since it involves skill elements and is not solely based on probability. The government of Sikkim Province requires all its licensed gambling operators to pay monthly taxes amounting to 1% of their total gambling revenues. Online gambling licenses which are valid for one year have to be renewed annually. 

Indian gamers who engage in online gambling do not face prosecution
Although India lacks nationwide laws and regulations, Indian gamers love online gaming. They usually utilize VPN to log onto offshore gambling sites and indulge their habit. However, no record exists of prosecutions of any local gamers by the Indian authorities.

Despite the popularity of online gambling, numerous opponents point out that this habit leads to various problems such as money laundering, higher crime rates, and more serious corruption. On the other hand, supporters of the legalization of gambling counter that it generates enormous revenues for the country, which is a boon for the nation. They argue that gambling doesn’t cause the country any harm.

 The Indian Government doesn’t actively support online gaming, but it has adopted plans in recent years to enable a rising number of citizens to access the Internet conveniently. These netizens can engage in online casino games or participate in e-sports competitions, which in turn benefits the online gaming industry.

Data reference source