Online Betting Commission
There are several types of online gambling in India which have been extensively practiced in India over the years and are quite common. One of the most popular and widely practiced game in India is Internet Gambling. The legal status on online gambling in India is split into two broad categories, i.e., games of chance and games involving skill. In order to understand the legal aspects on online gambling, it is important to first know what the meaning of ‘gambling’ actually is in the Indian context and then analyze the legal regulation as per this understanding.
Gambling refers to the wagering of money on any gaming activity. In the Indian context, online gambling refers to using the internet to play casino games, sports betting, lotto, and other card-based games. In simple terms, if you gamble online, you wager your money (and/or points) on whether you think that you will win or not. Most of the times, if the player is playing a game like poker, blackjack or bingo, there are no chances of winning; rather, players participate in wagers based on their own predictions and opinions about the likelihood of particular games. Online gambling is highly dependent on the ‘house odds’ on each game.
Since the recent amendments in the federal law on currency, online gambling is now illegal in India. The reason for this is the risks of using anonymous currencies like the EUR/USD, US dollar, British pound, etc. These anonymous currencies are prone to hackers. Hackers use such anonymous currencies in order to transfer funds to their country of origin and carry out criminal activities such as money laundering. According to the news reports, recently, Indian police found several instances where illegal currency trading was going on in the Indian currency exchange industry. Therefore, the government has banned all transactions that involve anonymous currencies.
Most of the online casinos in India follow the licensed gambling operators in order to run their business legally. The Gambling Commission of India regulates online betting and gaming, as well as online casinos. The reason for this regulation is to maintain the integrity of the Indian economy and prevent the illegal activities from taking place. According to the law, all licensed online casinos have to display a logo that signifies that they are licensed by the Commission.
There are numerous incidents of online gambling being conducted by people, who do not have a legal license to do so. Gambling is illegal in the UK and the US. If you are found to be conducting illegal activity through gaming facilities, you can face criminal prosecution under the UK’s Gambling Act 2021 and the US’s USAuggling Act. It is advisable to contact a licensed gaming agent before you conduct any online gambling activity in the UK or the US.
In the US, there are some states that have taken the view that online gambling should be allowed. However, this is restricted by the Supreme Court as it concerns the constitutionality of the act. There are many debates on the regulation of online gambling in the US, as there have been instances of inefficiency and corruption in the way the gaming industry was regulated. However, the gambling industry in the US is booming and the US authorities have not been able to stop gambling on the internet.