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Friday, March 29 2024
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The marvels of India’s online casino market

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The dot com era has given birth to several opportunities on all fronts. The growth and penetration of the net to all tiers of society has led to many enjoying its offers and advantages. Industries can expand and widen their audiences, in turn paving the way for tremendous turnover and popularity. These industry leaders are always on the lookout for places worldwide that have the potential to carry out trade and commerce.

So far, India has always been a promising market to capture, especially when it comes to the online gaming department. Gambling enthusiasts from India have embraced the online gaming industry like no other.

The highlight of online gaming is online casinos, cranking up the revenue to 62 billion rupees in 2019.

Let us go over why online casinos are so well-loved among the Indian audience, as well as the current state of online casinos and other concerns.

What is the current state of online casinos?

f there is anything else that Indians love apart from cricket and food, it is gambling. No wonder it explains why more than 80 percent of the population loves to gamble.

India’s affinity for gambling goes long back to mythological stories of the Ramayana, that mention board games and dice games as variants of gambling. However, the Public Gambling Act of 1987 had forbidden on-land and online gambling as illegal. This seriously affects the scope of online casinos in India, as a casino owner or individual breaking the law could amount to a fine of 200 rupees and 100 rupees respectively.

Lawmakers fail to define the meaning of gambling clearly, leading to some confusion over which games can be considered as gambling and which cannot be considered. Critics of the Gambling Act evaluate this law and say that casinos should be made legal, as they are games based on chance. The government argued with statements that gambling is a vice and can be damaging to the self and the people around them.

State legislation in India governs which kind of gambling can be played. Only in thirteen states is lottery legal in India. Goa, Sikkim, and Nagaland have legalized physical casino outlets. Sikkim and Nagaland are also the only two states where online casinos are permitted.

What are the reasons for the growth of online casinos?

There are many reasons why Indian customers have been so open to online casinos. Let’s go over them one by one:

Technology being readily accessed by a large portion of the population has allowed people to get a hold of mobile phones. Phones are the direct portal for online gaming content, casinos being included in this bracket. The affordability of the internet has amounted to many players willing to spend their money to make deposits on those online casinos. For this reason alone, the online casino industry can envision a revenue of 250 billion rupees ten years from now.

India’s population means online casinos are open to a much wider range of people, from all backgrounds, cultures, and languages. This also means India can surpass other countries in terms of the number of online players.

India is one of the world’s leaders in financial technology and especially so with the digital payments’ revolution. Convenient payment systems like UPI have made sending and receiving transactions easier to do.

Online casinos are increasingly molding their systems to fit the needs of the Indian audiences. Online casinos have removed the facility of currency conversion and exchange rates, to accept payments in Indian rupees. These casinos give customers the option to browse in Hindi while other casinos give Indian players the luxury of playing popular Indian gambling games like Teen Patti and Andar Bahar.

Some governments are helping to make the internet accessible so that some parts of the Indian youth can compete in various eSports.

What online casinos can Indian players visit?

Some online casinos that Indian players can visit can be Pure Casino, LeoVegas, and Royal Panda, as mentioned in IndianCasinos. These online casinos provide several provisions that are catered specifically for Indian audiences. They give players the benefit of playing in the comfort of their homes. However, Indian audiences must take regular updates of the online gaming industry and be sure not to fall into any trouble as per the Public Gambling Act.

What future do online casinos hold?

The casino industry is an emerging industry that impacts some of India’s economy. Between now and five years later, the online casino industry is predicted to earn billions. Although many states do not consider online gaming as legal, some states are leaning towards relaxing the conditions imposed on the booming industry.

One can only hope that governments realize the benefits of online casinos and use it in a beneficial way for the country.

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