NEWS
25
2021
Feb.
Asia News
Asia News
The regulatory veil of the Indian gaming market is gradually being lifted!
India’s population, which is currently at 1.35 billion, is expected to exceed China’s by 2023 as a result of the latter’s long-lasting one-child policy. As a result, the middle class, which is the driving force of the consumer market, will continue to expand, which has captured the gaming market's attention.
India is already the largest economy in South Asia due to its expanding domestic demand, which has resulted in bullish markets and significant growth potential in many areas. India also ranks among the countries with the highest number of gambling games in the world. The sizzling popularity of mobile games knows no limits. Due to the administrative decentralization of the country, each state and territory adopts a different approach toward gambling. Still, on the whole, there is a general trend toward the legalization of gambling.
We have shown previously how the market anticipates India to turn into the largest gambling market Due to the rapid spread of smartphones and the expansion of the middle class, the Internet infrastructure is constantly perfected in every region. The added momentum provided by the sudden rise of Fantasy sports games and the craze for sports leagues such as IPL, ISL, and PKL has resulted in a greatly accelerated development of the mobile online gaming market in India.
Despite the fact that sports gambling has not yet been legalized by the authorities, a large number of sports fans wonder whether online gambling is in fact, legal. There is no law in India that explicitly defines “online gambling” as an illegal activity. As a matter of fact, all gambling websites accessible in India have been set up in overseas areas and are therefore beyond the jurisdiction of local governments in India. They represent a legal channel for sports betting by the Indian public.
Consequently, the legalization of online gambling in India has turned into an implicit reality over the past few years. Even though the Information Technology Act 2000 explicitly bans the use of Internet technologies for gambling activities, legislators, to a large extent, seem to deliberately ignore questions raised by the public or turn a blind eye to the use of overseas gambling websites by Indian citizens.
India is already the largest economy in South Asia due to its expanding domestic demand, which has resulted in bullish markets and significant growth potential in many areas. India also ranks among the countries with the highest number of gambling games in the world. The sizzling popularity of mobile games knows no limits. Due to the administrative decentralization of the country, each state and territory adopts a different approach toward gambling. Still, on the whole, there is a general trend toward the legalization of gambling.
We have shown previously how the market anticipates India to turn into the largest gambling market Due to the rapid spread of smartphones and the expansion of the middle class, the Internet infrastructure is constantly perfected in every region. The added momentum provided by the sudden rise of Fantasy sports games and the craze for sports leagues such as IPL, ISL, and PKL has resulted in a greatly accelerated development of the mobile online gaming market in India.
Despite the fact that sports gambling has not yet been legalized by the authorities, a large number of sports fans wonder whether online gambling is in fact, legal. There is no law in India that explicitly defines “online gambling” as an illegal activity. As a matter of fact, all gambling websites accessible in India have been set up in overseas areas and are therefore beyond the jurisdiction of local governments in India. They represent a legal channel for sports betting by the Indian public.
Consequently, the legalization of online gambling in India has turned into an implicit reality over the past few years. Even though the Information Technology Act 2000 explicitly bans the use of Internet technologies for gambling activities, legislators, to a large extent, seem to deliberately ignore questions raised by the public or turn a blind eye to the use of overseas gambling websites by Indian citizens.