While betting on sports has already been an established industry in many western countries, some countries, particularly in Asia, are only being introduced into it with India a prime example. Although gambling is legalized in India, the sports betting industry is still new and exists in a rather grey area.
Betting and gambling is legally accepted in India but the idea of sports betting is still not widely accepted in the country. In fact, many states in India consider sports betting illegal and impose hard legal repercussions to offenders.
In some parts of the country, bookmakers and sports betting are completely illegal and can send a man into jail if found guilty of engaging in these activities.
However, there is a strangely grey area that is used to circumvent these strict rules, especially by betting online.
There are many online bookmakers operating in India. Although it is true that operating such business is illegal, some operators avoid this by establishing their main office outside of the country – a popular strategy that is known as offshore gaming. Some sports betting companies establish their server and main office outside of India but their main scope of operation are inside the country. Technically, they are operating outside of the country.
India’s lack of new gambling regulation is another important thing to note. The only federal law that governs gambling in India is The Public Gambling Act of 1867 with its scope only covering actual physical casinos and betting shop.
Thanks to the advent of the Internet, Indians have a lot of new option and platforms to enjoy gambling. For example, the operation of offshore gaming companies offers great options.
Hopes of legalization
The popularity of online sports betting has led many to believe that India will soon appreciate the potential tax revenue this industry.
However, many politicians and policy makers are rather skeptical about it. The first reason is that legalizing sports betting means that a new amendment to the current law needs to be presented. Although lawmakers agree that there is a strong chance that India will legalize sports betting, it will take a lot of time to do it.
