There is a trend that many Indians are seeking to bet on sporting events. This is a favorable moment for the sports betting industry, not only in India but also for offshore operators offering their services in the country.
Not surprisingly, many people are now interested in the legality of sports betting in India. They are not just looking for betting odds on matches but also checking to see if it is legal for them to bet online India at all at betting shops. This question is justified because India, after all, is still strict about any gambling activity.
What you should know as an Indian gambler is that sports betting laws in the country depend on the state. As of today, there are only a few states that do not have any form of online gambling, including sports, betting, and those are Telangana and Andhra Pradesh.
Gambling, in general, is regulated in the country by the Public Gambling Act of 1867. This law is so old that it says nothing about the internet, which is why online gambling is neither illegal nor legal in many states of India.
There is also the Information Technology Act of 2000, which regulates all Internet activity in the country. However, it doesn't say anything about online sports betting. Therefore, they are still neither legal nor illegal.
In general, Indians should be able to bet online at offshore bookmakers without any problems. Strict laws regarding gambling in the country are mainly related to gambling companies and the ban on their activities in the country.
In general, online sports betting should not cause Indians any trouble. If anyone has problems with the law, it will be the operators. However, the risk here is that if the operator is detained by the law, his assets will be seized, and it will be difficult for Indians to withdraw their money or they will not be able to do it at all.
So far, only in the states of Goa, Daman and Sikkim there are legal local gambling operations both online and offline. However, of course, not everyone is ready to go to these states just to bet on sports on the spot. Many people prefer to bet online, and this applies not only to India.
Globally, the online sports betting market is expected to reach a value of more than 59,530.7 million US dollars by 2026 with a growth rate of 13.6%, according to Market Watch. This means that this segment of the gambling industry will grow, and there are places outside of India where this is noticed.
The United States is one of the progressive countries when it comes to regulating sports betting. In May 2018, the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992, or PASPA, which made sports betting legal at the federal level. Since then, many US states have moved to regulate sports betting activities on their territory.
Not all US states with legal sports betting initially wanted to have an online market. When New York passed the sports betting law, only face-to-face betting was allowed, and it didn't help. Today, the state already insists on online betting, and this is obvious because it will bring them more revenue.
According to the State of New Jersey, the monthly volume of sports betting accounts for 80 to 90 percent of the online sector. It just shows how much people prefer online betting, even if the state is known for its land-based casinos and bookmakers.
India could learn a lot from the US implementing progressive sports betting laws. However, it is difficult to say whether the country is currently aimed at regulating it. Recently, the state of Karnataka announced a ban on online gambling. This happened after Tamil Nadu and Kerala did the same.
Since these states have banned online gambling, including sports betting, it's hard to say whether India will eventually be lenient on sports betting anytime soon. However, it is worth noting that the country is missing out on potential revenue. Until the relevant regulations are adopted, India is missing billions of dollars that could be spent on something useful for the country's economy.
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today