Can Legalizing Gambling help the India economy?

The Covid-19 is hurting economies around the world and many countries are struggling to overcome these difficult times. They need to be resourceful and look for alternative ways to cover their budget. It may sound strange, but the gambling industry can help governments circumvent this crisis. Gambling is built into human nature and has been around for centuries. It’s all around us, even when you’re tossing a coin.

However, gambling activities that involve real money sport betting are not permitted everywhere. However, this does not prevent people from spending money on casino games, cockfighting, horse races or cricket. Of course, these markets are mostly illegal, but they contain huge sums. How can the country benefit from this activity? Let’s delve into the subject.

According to a survey, 40% of internet users in India love gambling. While the current legal framework makes it illegal, nothing can stop the Indians, right? Growing at a rate of 7% per year, the illegal gambling market in India is worth over $ 100 billion, much of this is online sports betting”.

Gambling regulations in India

Goa, Sikkim and Daman are only three states allowed gambling activities in India. Under the Goa, Daman and Diu Public Gambling Act of 1976, five-star casinos and offshore boats can facilitate physical casinos. On the other hand, in India, gamblers can still enjoy their favorite casino games as the online gambling market is not regulated by law. It’s still in a gray area, and while online gambling isn’t entirely legal, it’s not illegal either.

As gambling is very popular among the people of India, they take advantage of the regulatory gaps and register their accounts with online service providers. Especially after the closure caused by the Covid-19 epidemic, the online gambling market is rising sharply. Many international service providers recognize Indian players as it is a huge market.

With the legalization of gambling, local casinos in India can finally open, and as their operations continue to grow, so will the number of employment opportunities they offer. The economy has suffered a great deal from the effects of the COVID-19 pandemic, and the recovery of these new businesses will certainly help our recovery.

While travel restrictions are still strict in some places, the time will come when tourism will gain momentum again. People will be looking for places that can provide them with experiences that were previously denied to them when much of the world was closed.

Casino houses are sure to be glittering gems in the crown of our valuable attractions. And as a bonus, it opens up even more business opportunities for locals who want to receive tourists with great hospitality.

No matter what point of view you are willing to choose when it comes to gambling, it remains true that progress will progress depending on whether we have chosen to join it or not. Recent developments mentioned earlier have revealed many gaps in existing regulation. Along with the new circumstances, better responses are needed that can help keep pace with other nations.

Legalizing gambling may not be entirely traditional, but it is certainly an interesting and versatile solution to our current situation. And if there is one thing that always helps, it is to consider all alternative perspectives so that we can make an informed and rational decision.

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