Gambling has been a part of the Indian culture since ancient history and the Indian gambling market today is estimated to be worth around 60 billion dollars annually. However, most of the states in the country do not even have a single legal casino where people can enjoy gambling in a regulated and legal manner.
Interestingly, due to some legal grey areas, many online casinos are allowed to operate in India and have been steadily capturing a share of the Indian gambling market. As long as they follow a few rules and regulations, they are considered to be completely legal in India.
This has effectively legitimized online gambling in India and today it is a booming business as more and more world-class online casinos position themselves to enter the growing market.
The current status of online gambling in India
The individual states in India have the power to decide if land-based casinos are allowed to function in the state or not as laws regarding gambling is a state subject. Additionally, Indian casinos are also not allowed to create or promote their own online casinos in India.
However, if a non-Indian company has an online casino site that accepts Indian players and also allows the Indian Rupee as a currency on its platform then it can legally function in the country and allow Indian players to enjoy their online casino and the full range of gaming services they provide.
Most of the online casinos in India are thus established international companies like Betway or 10Cric that have decided to enter the lucrative Indian online gambling market. Some of the online casinos like JeetWin have based their entire brand around India to be more appealing to the Indian market.
In a way, it is a good thing for Indian players as these companies are regulated by strict gaming licenses and they offer a transparent and regulated environment for gambling which means there is almost no chance of getting scammed.
In a country where half of the gambling is done illegally, online casinos are not only making it safe to gamble but also increasing the tax revenue for the government.
The future of online gambling in India
The online gambling market in India is considered to be one of the largest and fastest-growing markets around the world. Companies like Alibaba, Tencent, and Softbank have been investing hundreds of millions of dollars into the industry so they can position themselves better against the established players in the market right now.
While the laws regulating online gambling in India remain ambiguous, the entrance of new players in the industry is a pretty big sign of where it is heading. For Indians who like the thrill of online gambling, this means better services, bigger welcome bonuses, and better options in the future.
With more than 1.3 billion people and a demographic that is most young adults, it is no surprise that most companies are willing to bet big when it comes to the online gambling market in India.