“Te Indian gaming industry has witnessed a paradigm shift. Te rapid growth in digital infrastructure, increasing smart phone affordability and penetration,
expansion of the internet user base, declining data price, younger audience and evolution of digital and online gaming models have contributed to a surge in the number of online gaming players over the last couple of years. When we have
regulation that governs different forms of online gaming, the grey market and its operators will eventually go out of circulation.” Roland Landers, CEO, AIGF
markets to bring more transparency to a growing industry.
Te Indian Law Commission estimates the Indian gambling market to be worth US$360m and predicted to reach US$1bn by 2021. Te commission has recommended that sports related betting be legalised.
Te estimated size of the Indian betting market was worth US$130bn in 2018 (US$88bn in 2012) with the majority of revenue coming from sports betting.
In the commission’s report (no. 276) outlining
the ‘Legal Framework for Gambling and Sports Betting in India in 2018’ a study was undertaken to deal with the illegal gambling market and also look at the match fixing controversies within the cricket sector. Te thought pattern being if sports betting was legalised then the black market would reduce as current measures are proving to be ineffective. Te questions raised were:
l
Will legalising betting and gambling curb illegal activities?
l
Will licensing help the government earn revenues and generate employment?
l
Will legalising betting and gambling be morally acceptable in India?
l How to safeguard residents? l
If legalised should foreign companies be allowed to operate?
With a third of the Indian population said to live below the poverty line the problem lies in deciding if gambling and betting activities create a platform for individuals to spend money they simply haven’t got. However corruption and illegal operations are rampant and there are problems in curbing such activities.
NEWSWIRE / INTERACTIVE / MARKET DATA P63
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