The Rise of Sports Betting and Online Gambling in India

The Indian sports betting and online gambling industry have achieved tremendous growth owing to technological advancements. From its earlier form, which was mainly restricted to gaming, houses and casinos, sports betting and online gambling in India have come a long way. Players from India can no longer hide in the dark and can pretend to win Jackpots too! clickonlinecasinos.com offers a great wide of online casinos players can register to.

The legal status of gambling in the country is a rather complicated issue. Generally, the state prohibits gambling activities for sports that rely purely on chance while allows gambling for those that rely on skill.

Cricket betting is one of the top sports on which the online gambling market in India is based. Cricket is one of the most popular games in India and therefore one that attracts a lot of online betting activity. The Indian Premier League and international cricket games all attract a commendable betting population every year.

The cricket gambling industry is conducted through a series of secretive online networks that work through invitation-only basis. This makes it hard for the government to monitor the online gambling activities. Gamblers have also found an effective way of circumventing the foreign exchange law, which bans the use of any other currency apart from the rupee.

International online gambling companies targeting the Indian market provide means of payment using e-wallets such as Skrill to receive payment from Indian gamblers. For Indians, it is illegal to use any other currency apart from the rupee; therefore, any investors have to optimize their site to cater to the Indian market.

The gaming and gambling industry in India has yet to fully legalize online gambling. In 2013, an IPL match-fixing scandal led to an appointment of a three member law committed by the Indian Supreme Court. The commission recommended the legalization of online cricket betting. The recommendation was based on the views of citizens and the benefits the country is likely to reap from making the industry legal. Media reports also support the findings that gambling still goes on in underground forums.

The Public Gambling Act of 1867 and the Foreign Exchange Management Act put restrictions on the gambling industry. These restrictions lead many gamblers in unofficial and illegal gambling practices, which lead many to illegal gambling. The government is currently working towards legalizing gambling although with restrictions on the number of bets one can place as well as the amount to gamble.

Legalizing the online betting industry will provide several benefits such as encouraging responsible gambling practices thus protecting the young and vulnerable from bad gambling behavior. Legalizing the industry will earn the government a lot of revenue. The gambling industry in India is worth more than $60 million dollars. By regulating the industry, the government will reap its revenue.

There is a direct connection between gambling and underground clandestine activities such as terrorism and organized crime. By regulating the industry, the government will attract genuine sponsors to invest in the cricket betting industry.

States such as Sikkim have already legalized online gambling making the state a haven for sports betting and online gambling. In the state, gambling provides employment for many people who work in the casinos and many winners such as the ones who registered through www.casinoclubindia.com/.