Online Gambling

Internet Casinos Inc., the world’s first internet casino, began operating on August 18, 1995 with 18 different games. Over 1,400 websites, mainly located in the small Caribbean islands, have created an industry that has grown to more than $3Billion annually. Online gambling generates more revenue than any other business online. Nearly 30% of the 14.5 million online gamblers are from Asia.

You can place a wager in minutes. Anybody with a credit or debit card can open an offshore account with a gambling site. This allows them the freedom to place bets on sporting events, such as Wimbledon, Cricket, Horse Racing, Formula One, and Formula One. Or they can join a virtual Casino to play slots, roulette, blackjack, and poker. Betmart, Flutter, and Betmart allow bets to be placed on anything. Bets can be as small as a nickel up to thousands of dollar and depending on whether you win, the amount will be automatically adjusted to your account. The balance can be sent to you by mail or saved for future wagers.

The Indian law regarding online gambling must be understood in the context of India’s socio-cultural context. Although gambling is not banned in India, it does not receive any encouragement from policymakers. Indian organized gambling has a market value of approximately US$8 billion. Although stringent laws have prevented the expansion of casinos and high street gambling centres like in other countries, the lottery business is still the most popular form.

Although gambling is not illegal it is strictly regulated and controlled. Modern India is a quasi-federal Constitutional Democracy. The powers to legislate can be found at both the federal and state levels. List II of the Constitution of India contains gambling. This implies that the states have the power to adopt laws to regulate gambling. In other words, gambling is not regulated in one country. Different laws govern gambling in different states. These laws are not only applicable across the country but also vary between each state. Some states prohibit lotteries. Other states allow lottery marketing and distribution in other lottery playing states and through private entities.

Regulation of Gambling

Gambling can be defined as the payment of a fee for a chance to win a reward. The game’s nature will be decided by whether the dominant element is skill or chance. Gambling is defined as any game in which the dominant element of skill or chance decides its outcome. Indian courts have decided that betting on horse racing and certain card games is not gambling. Constitution of India doesn’t protect the right to conduct gambling and lotteries. It might be pointed out, however, that state-run lotteries contribute significantly to the state exchequers of several state governments as well as the Union government. This is why there is resistance against total prohibition.

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