Lawmakers in India to Consider Legislation to Regulate Online Gambling
Various Indian states are moving forward with legislation to regulate online gambling. Some states have even banned online skill games. Some lawmakers have suggested the legalisation of online skill gaming. However, it is difficult to tell how such a bill would affect the Indian economy.
In fact, the size of the online gambling industry in India is estimated to be around $1 billion. The size of this industry is expected to rise by around 40 percent over the next year. Enhanced technology is boosting the growth of the industry.
The Sports (Online Gaming and Prevention of Fraud) Bill, 2018 was introduced by Shashi Tharoor in the Lok Sabha in 2018. Its objective was to regulate the unorganised online gaming sector. It includes the Sports (Online Gaming and Prevention of Fraud) Act, 2018 and an online gambling bill. It also mandates licensees to maintain accounts.
The Gambling Commission of India recommended that a gambling law should include a link between betting transactions and the use of Aadhaar cards. It also recommended that gambling be only permitted by licensed operators from India. It recommended that the income generated from gambling should be taxed under the relevant laws. It also recommended that cashless transactions between operators and participants should be allowed.
The Indian government has taken a strong stance against online gambling. It claims that gambling is a negative social activity and that it will harm the youth. However, the country loses millions of dollars each year to foreign online gambling sites.
Are Casinos Ban in India?
Several Indian states have taken a stand against gambling, especially online gambling. The government has been trying to regulate the industry by passing gambling legislation. However, many states have yet to pass any legislation.
The new law prohibits online gambling and rummy, but the draft ordinance has yet to be implemented. The ordinance has also been challenged as unconstitutional by the All India Gaming Federation. Besides a ban, the new law includes punishments for those who visit or operate gaming houses. The maximum fine is INR 100, while the maximum imprisonment is one month. The ordinance also prohibits the use of payment gateways in gambling-related transactions.
The government of Tamil Nadu has introduced a bill to regulate online casino games. The bill was introduced in the state assembly on Wednesday. It also includes a blanket ban on games like poker and rummy. In addition, the government has issued a ban on gambling ads. A Ministry of Information and Broadcasting (MIB) statement said that gambling ads promote illegal activity and are harmful to the public. The ban is aimed at keeping gambling from being exploited as a financial opportunity.
Although the ordinance has yet to come into effect, it will probably be announced in the next few days. The draft ordinance is being sent to the Raj Bhavan. The new law is expected to help the economy by taxing gaming revenue.