One of the biggest emerging gambling markets definitely is the Indian market. Some bet on the IPL (cricket) and others play games such as Teen Patti, Andar Bahar and also exclusive Bollywood Roulette games. Truth be told, Indians have shown a passion for Indian betting sites through the years. Many gambling sites are available offering some of the best IPL odds out there and the Indian player just craves that.
When we talk about laws and regulations, unfortunately, gambling is still a big taboo in India. Yet, this does not stop the Indian gambler from heading to Indian betting sites. Slots, jackpot games, football and betting on the most celebrated sport in India: cricket. The Indian gambler does it all. So, is this time for India to look into legalising gambling once and for all? The market is still illegal, unregulated, yet betting is still happening and on the rise.
Whilst Indian gamblers are taking their business elsewhere, playing at sites that are undergrounds, unregulated and sometimes working on their own accord and rules. If we look at some gambling figures for India, it is quite evident that just like America, India is missing on some golden revenue that gambling could bring to the table.
Statistics and data never lie. A report that was conducted by KPMG during March 2019 highlighted the massive potential the Indian sports market has. The market has seen significant growth through the years that top 130 Million. This figure is quite fluid, and as more Indian betting sights flourish, the market is set to continue with steady growth in revenues.
So why should Indian betting sites be legalised?
Many casino experts argue that the worse type of gambling happens at illicit and unregulated sites. These sites do not abide by any rules, apart of their own. Not being licensed means freedom from a regulator, laws and regulations. Whilst underground sites would make a buck or two from their activities, the gambler suffers the aftermath of lack of regulation. Winnings could not be paid out as promised, and complaints procedures would be out of the window. This is the main reason that India should legalise betting. Indian gamblers will play and will continue to play, the best option for anyone would be to harbour them via laws that Indian betting sites would need to abide by. Once gambling is legalised, a government would immediately eradicate black market activities, money washing and laundering. All actions being taken to safeguard the Indian player.
Once Indian betting sites are legalised, the market would grow further. Many sports sites and casinos would opt to set up a home in India, and as the competition grows, so does the desire in the market. Sporting events would have a better platform to operate, the IPL could be taken global, and the possibilities would be endless.
What does the future hold for the Indian gambling market?
Some of the pillars in leading the GDPs scale globally can thank online gambling for the massive figures. Scandinavia has always recorded gambling growth and revenues and so did countries like Latin America, UK and even Germany. One cannot say for sure the amount of gambling revenue that was recorded form Indian betting sites, this is due to the blend of playing at legal and illegal sites. Yet, the potential is there. It has been there for some years, and many sports and casino experts predict more growth.
Countries mentioned above who have excelled at structuring gambling activities have invested in a legal framework that protects the player, the country and generated revenue. Many operators have shown interest in the Indian market, and many Indian affiliate sites are popping up daily. So what is the next step for the government? With a country so high in culture and love for sports being evident, the next step is quite evident. The lawmakers, the government and stakeholders need to sit down and launch legalised gambling.
This is the future for Indian betting sites. Being able to operate freely in a legal fashion, always placing the gambler at the centre of all the action.