As we all know, the world is talking about the industry of Online Gambling in India. Every one of those people who wants a big piece of the pie is trying to figure out ways to do just that. And that begins by carving for themselves an internet gambling market right there in India.
Indians are no strangers to Gambling and betting on entertainment like sports to placing bets on a chicken fight. The ability to take a risk can be a talent, or it can also be someone’s ruins. Besides, as it is with Gambling, huge risks bring huge returns, well, at the very least, sometimes. Since laws don’t cover the aspects of Online Gambling in India, everybody is trying to make use of that loophole. Especially for casinos and betting sites based in Europe, India is a market they need to tap into.
Laws Treat Different Games Differently
One thing to know about not just internet gambling, but Gambling in general, has different provisions for different games. In India, casinos, horse betting, and Poker are not the same in the eyes of the law. In total, three laws govern the principles of Gambling and Online Gambling in India. There is a provision that says that playing games under the category of skill-based games are not Gambling. Poker is one such game that falls under the game of skill category. In contrast, games such as horse betting and casino are games based purely on luck, and hence, it is Gambling.
Foreign Exchange Management Act (FEMA) and IT Act
These two laws are probably the only Indian Acts that have provisions for the purpose of Online Gaming in India.
Regarding FEMA, it is illegal to accept payments in a currency that is not Indian Rupee. Also, keeping a currency other than Indian currency in the internet gambling account is illegal. That is because the govt considers that an illegal method to exchange currency.
Although, at the same, the govt also offers alternatives. That is, to accept payments or make transactions via geolocation. Even though it is not the most convenient way, it offers a legal method. The other, a more popular method is by making use of electronic wallet payments.
Advertisements
The avenue of ads for internet gambling in India is, in simple terms, huge. It is pretty common to see banners or ads on websites across the internet for Online Gaming in India. Also, you might think, why don’t such companies distribute flyers or anything along those lines. It is because the laws do not permit such activities. As mentioned earlier, the laws regarding Online Gambling do not have regulations. Also, that means there is a chance that it might lead to an offense under Indian laws.
But there is a silver lining. That is, the whole picture changes when we talk about Poker. Websites are free to show ads on whatever medium they want to. That is why Poker sites are among the widely used tools of Online Gambling in India.
