Around the world, experts have been tracking the rise of online gambling. From hosting online poker games to blackjack duels, and sudoku bets on websites like indoqq poker: the industry is booming. Thanks to the growth in mobile users, the potential is unprecedented. People of the recent generation are internet-savvy and are very much fond of these games.
But there’s always a catch
The online gambling industry, however, hasn’t inspired much confidence among stakeholders. Connected to it are issues of money laundering, anonymity, lack of transparency and bank frauds. In fact, the legality of gambling has been at odds with its history as a popular form of entertainment in the past. You need to be vigilant about the websites offering you to play the gambling games online.
Killing two birds with one stone: regulation and revenue
Real money gaming- a segment of online gaming rakes up growth at an average of almost 50% per year. The offered games by indoqq poker include rummy, poker and fantasy sports which are amongst the most famous ones because of which revenues of dominant companies have been said to increase by approximately 30% annually. In December 2018, a private member titled “the sports (online gaming and prevention of fraud) bill, 2018” was introduced in the parliament by members of parliament, ShashiTharoor. The bill suggests the allowance of foreign direct investment within the industry, which as industry experts concur, will be able to bring about operational expertise which could help make the body of the sector more transparent and reliable. Estimates show that the government can extract revenue of about 10,000 to 15,000 Cr. through taxes. Could this be a plank for job creation and technological innovation? One is not sure.
A report by the law commission of India, released in 2018, concluded with a similar solution. The commission saw that gambling and betting overlapped at multiple points and that sports in India were vulnerable to a fault to match-fixing and spot-fixing. The commission suggested ways to regulate online gambling via sites like indoqq poker and it did so by recommending the legalization of online gambling. Online gambling, if legalized, would set a precedent for building frameworks which would help regulate the industry. As it is, the industry is slated to be a total of approximately $30 billion enterprises, and these numbers are only going to climb further.