There are no more days when iGaming operators were afraid to promote their Indian sports betting platforms. It used to be that IP addresses could get blocked, causing disruptions to illegally operating in the Indian market. This led to many of these operators using surrogate advertising to promote their platforms. Now, we see online and offline branding for sports betting and casino companies. The fear that Indian authorities would crack down on this industry has disappeared.

The rise of iGaming platforms meant that regulation was inevitable. The country will benefit from the regulation of the online betting industry for many reasons.

More revenue for the country: The country will benefit from the regulation and taxation of sports betting. This will help it to boost its economy by generating thousands of crores of dollars in revenue. The government can ensure that there are no black markets and that all revenue from sports betting is properly accounted for by ensuring that regulations are in place.

More jobs: Companies legally registered in India and allowed to operate there would create thousands more jobs. Currently, companies have to be able to work from all over the globe while still serving the Indian state. The regulation would allow the major players to set up offices or headquarters in India, opening up a whole new industry.

Safety: Indian companies can be registered to ensure that everything is in order. This includes cash outs and deposits. All transactions can also be tracked to ensure there are no frauds. There are many scams that involve users withdrawing their funds or having their personal information cloned in order to gain access to credit/debit cards details. If the regulations were in place, all of this would be stopped. This will benefit users and the government as it will create credibility for the companies.

Taxation: This is an important part of government that must be done right. The high tax rate for betting companies will likely cause them to continue operating in illegal ways as they do now. Why would they have to pay such high taxes and expose their profits when they can keep doing what they are doing? Both the government and gaming companies must see the benefits. A taxation system that is fair for both sides will help reduce the black market and bring more money into the system.

Correct regulation: When regulations are introduced and gaming companies can legally apply for licences and pay taxes, it will be necessary to clamp down on illegal operators. The government should assure legitimate businesses that they will not stop illegal operators by giving assurances.

If it isn’t done correctly, why would a company apply to a license? Why would they pay Crores of Rupees for taxes when other companies operate at the same level and don’t pay anything?
Safety Awareness: It is important to stress the safety of betting. All gaming companies must be aware of the importance of safety. We are often told to “gamble responsibly”, but what does this actually mean?

Clear campaigns and plans are needed to ensure that players don’t get carried away. There should also be easy communication so that help can be obtained if necessary.

Limiting deposits and time on the site is a way to prevent people from getting too excited. These must be taken seriously and implemented.

If regulations are introduced, I believe they should permit existing gaming companies to apply in order to obtain licenses. These companies are legally registered and have paid taxes in India. Why not let them partner with an international gambling company?
These companies have a track record and are registered in India, paying taxes year after year. They also have a face.

It would be a tremendous boost for India if I Gaming is regulated. However, it must be done properly and with the participation of all stakeholders.

By Manali