India is the second most populated country in the world. This means that the country has a lot of human resources. This can be to a country’s advantage. But for India, the reverse is the case. There are many economic problems that the country faces despite its resources. India has problems such as low per capita income, poverty amongst others.
Every problem has solutions. So, there are many solutions to India’s economic hurdles. One of which is to make online gambling legal. There are over 1 billion people in India and a good number of them are involved in online gambling. If the Indian government can leverage that market, it will generate a lot of revenue for it.
However, if there is one thing that the Indian government is resolute about, it is keeping gambling banned. The Public gambling act of 1867 that bans gambling activities is still in use. This is because most casino games are games of chance rather than games of skill. This has made the government wary of the gaming market. It is only in places like Goa and Sikkim that land-based casinos are allowed.
Benefits of Online Gambling to the economy
While we can understand the government’s stance on gambling and why it remains illegal, the truth is that Indians still gamble. Gambling is one thing that you cannot take away from India. With the ban on land-based gambling, casino lovers have shifted their focus online.
During the lockdown in 2021, there was a high percentage of gambling from Indians in online casinos. If Indians had been in the market, they would have benefited greatly. Some of the benefits of online gambling are:
Profits for India Entrepreneurs
Online casino is a lucrative business to venture into. If it is legalized, entrepreneurs will make a lot of profits from it.
The legalization of online gambling in India will create jobs for citizens. If citizens can develop their games, tech companies will be set up for this regard. Jobs will be created across various sectors to fill up roles in these tech companies. This will reduce unemployment and poverty in India.
Tax and Revenue Generation
India can generate a lot of taxes from online gambling. Like every other industry, if the Indian government relaxes the ban on gambling, it can bring in a lot of money. It can serve as an avenue for generating revenue for the government.
Teen Patti is a good example. The supply of Teen Patti real cash games online is massive. Teen Patti is the most played game in the country. Indians spend a lot of money annually on this game. However, because of the ban on casinos, they are restricted from playing it online. All of the profits and potential tax revenue are emitted abroad.
Of course, there is a need for the government to protect its citizen from addictive gambling, scams, and overall crime. However, there are other ways to do this. Rather than ban gambling completely, they can regulate it. Relaxation of the ban on certain games will help citizens to leverage on the market to develop casino games that Indians like. It will also help the government create job opportunities and generate revenue to carry out its functions. In all, India will eventually gain from the gambling market.
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