According to our Indian constitution, gambling is any activity or tasks whose main agenda is controlled or influenced by chance or accident or any activity which is entered into with consciousness of the risk of winning or losing, e.g. – a wager or a prize money, etc.
Now what is online gambling?
In simple words, it is ufa สล็อต done through internet usage like playing online games, e.g. virtual poker, casinos or sports betting. Winning money through virtual games depends on the level of the game, its complexities, commitment and most importantly whether the player is playing for fun or professionally. Today, a large number of sports betting operators use various websites or mobile apps to offer games and bets to its players. All the interested players play by depositing money in the operators’ account and then use that money for betting on games.
The Indian ufa สล็อต market is estimated to be worth $60 billion per year out of which half comes through illegal gambling. The virtual betting games alone could cross a billion dollars in value and are growing at around 30% each year. India is moving towards an improved age and gender parity among online gamblers. Today, casinos in Goa alone provide more than 100cr rupees in tax revenue to the state which shows that how states can benefit from a legalized gambling market. The global gambling market is expected to reach revenues of over $525 billion by 2023, growing at the rate of 4% annually.
Factors that are boosting the online gambling market –
- Rising disposable income
- Internet reaching every corner of the country
- Young India
- Increase in smartphones
- Rise in digital payment
- New affordable technologies
- Localized virtual games
The ongoing Covid-19 pandemic had an impact on the gambling market. It’s not like demand of gambling has decreased or something. Earlier these gambling mostly took place offline. Now it has shifted to online gambling. Here, all the players can maintain anonymity and there is a complete ease of operation.
In conclusion, if gambling is done in a more legalized manner then the states could benefit from it. However, no matter what gambling always has risk of negative effects. It increases the population of money laundering, it makes the players addicted which could lead to crimes and because the growing rate of online gambling the issue of hacking and phishing is very common.