The past few years, many countries have passed legislation permitting and regulating online gambling within their jurisdictions. These include the Netherlands, Sweden, Italy, Spain New Jersey, Philadelphia, and more. Still more are still debating the possibility, and the coming years, many more countries and states are set to follow. Other jurisdictions, such as Malta and the UK, have a long history of licenced online casinos and betting platforms. Licenced gambling means more revenue for the state and more protection for the players.
The legal state of gambling in India
The situation of online gambling is still rather unclear for most Indian players. Gambling is prohibited in most of India, with the exception of a few casinos in certain states and state owned lotteries. However, the law currently makes no stipulations on online gambling. This means that Indian players are technically not breaking any law, provided they play on offshore online casinos. In fact, the Indian court declined a request to block all online gambling sites during the Cricket World Cup. Most online casinos are run from the UK, Malta or Curacao.
Why we will only see more Indian players in online casinos
While online casino is still not regulated in India, India has become a booming market for online operators of various games of chance as well as sports betting. With an ever-growing population of 1.3 billion, increased internet coverage and more disposable income per capita, and an already existing gambling culture, it is easy to see why India is set to become a huge growth market for online betting.
More young players
The fact that India has such a young population is also a factor. 65% of Indians are under the age of 35 and 50% are younger than 25. These youngsters have no issue joining an online betting site, where they bet on cricket, kabaddi, but also popular sporting events such as the Champions League or European football teams. Horse racing is also becoming popular for youthful bettors.
More technology and better internet
The distribution of technology and increasing wealth is another factor. Smartphones are available for a wider section of then population, while the country’s mobile networks are slowly getting better. Broadband and mobile internet are becoming widespread in a country that is slowly increasing its wealth.
The income per capita has grown by 8.6%. More wealth means more disposable income. That income can be used for luxury items, but also for playing games online. More weath also means more free time, time that can be spent on various pastimes.
Better payment methods
The last factor we will discuss payment methods. While most banks in India do not accept transfers from online casinos, a wealth of alternative methods are springing up. E-wallets such as Neteller or Skrill are very popular. These are fast and easy ways to transfer money. However, they charge fees, which eat part of the profits of casino and player alike. This is why many Indian players are turning to cryptocurrencies such as Bitcoin. These blockchain methods are safe, reliable, and do not charge any fees. They have the added benefit that they are not taxable, and completely anonymous.
For more information on online casinos, visit OnlineGamblingGuru.com