In the last week, an in-depth industry report from New Delhi was performed which showed that the tax revenue generated by legalising and controlling Indian online betting could be worth ₹81.5 Billion ($1.5 billion).
Countrywide, no one appears to be interested in this profitable field even
though the amount of Indians gambling online is escalating due to a thriving middle class. However, the State of Sikkim is one State that has tried to control the online gambling market in India.
The value of India’s online gambling business if it was controlled and legalized could be ₹272 Billion. Applying today’s rates of taxation in places where this has been done translates to a prospective income of ₹81.5 Billion.
The field of online gambling in India is expected to expand very quickly due to the increase in numbers of the middle class, and as internet availability and usage becomes easier.
Legalizing and controlling on-line gambling has advantages besides the possible revenue. Other countries have shown that jobs can be generated and customers feel safer.
The report indicated that India would also finally be able to tackle the issue of out of date and inconsistent statutes in regard to gambling. Numerous statues regarding gambling can be traced to colonial times, therefore not being pertinent nowadays in contemporary India with its increasingly trained, skilful population and state of the art technology.
In addition to showing all of the advantages of organizing and legalizing on-line gambling, this report also illustrates how India’s economic turn around and the rapid expansion of the internet there will keep this field growing into the future .