The art of gambling is nothing new in India. From long ago, people have staked on various possible outcomes to double their money and earn some extra rupees. The point here is to talk about the history of gambling and gaming. However, you cannot talk about the present without looking at the various stages of development. This type of entertainment became official in 1988 with the Indian Gaming Regulatory Act that permitted Indians to own and operate Casinos.
There is also no way to discuss the development of gambling without talking about the impact of technology. Despite the influence of the government to promote Indian casinos, it was a technology that made online gambling in India possible. In fact, to play, all one must do is visit a casino website, register, fund your account, and start playing. A cursory look at the rapid growth of the online casino market in India is enough evidence of the impact of modern technology on an age-old pastime.
What is happening in India?
There is a real boom in online gambling happening in India. This is due to several factors.
One such factor is the ease that comes with playing games in online casinos. You just have to log in online and start playing games. The stress-free nature of online casino games keeps luring more individuals to online gaming. Even registration does not take up to 2 minutes to complete. Besides, you only need to register once, and you can keep using your account on a continuous basis.
Online payment gateways and speed of withdrawing your winnings make online gambling in India even more alluring. Casino websites are including more payment gateways to make payments and withdrawals easier. Another feature of online gaming that endears gamers to it is its level of transparency. Unlike your regular casino, nobody can tamper with the game. The games are totally down to luck and nobody can alter the gameplay. This is not the case of “the house always wins.”
Furthermore, online casino games always emphasize their RTP, as a means of luring people. Just so you know, RTP—stands for Return to Player. This is a theoretical percentage a game gives back to players in the long term. For example, if the RTP of a slot is 97%, it means that for every ₹100 wagered it returns ₹97 as payouts, keeping ₹3 in the casino.
RTP does not mean that you will win your money back at a particular point in time. Everything is still down to luck. The percentage only ensures that the money flow is not one-sided.
Gambling Laws and Regulations in India
This is another important development of online casino India. The regulation of gambling cannot be overemphasized. The regulation covers both the players and casino operators. This will ensure the best online casino experience for players. Indeed, gambling in India is a state law and you should consult with a sound legal authority if you want to operate an Indian casino business.
Although the law on gambling is still very strict, it is gradually easing up. Before now, casinos were forbidden in India. Only Goa, Daman, and Sikkim permitted the ownership and operations of casinos. Four of Goa’s ten casinos are located offshore. This was partially due to Indian gaming laws.
The laws governing the online gambling market are a bit more complicated. The law does not permit Indian entities to own, operate or promote gambling activities online. However, “overseas” companies can have or provide gambling services for Indian players. Before they can do this, they have to use Indian rupees as the mode of exchange. This implies that you cannot fund your online gambling account with foreign currencies other than the Indian rupees. Failure to do so will see you bag a fine of ₹90,000.
There are still issues of funding and withdrawing from a player’s account. It is difficult to use a credit or debit card. Most players must use other payment gateways like Neteller. You may be wondering why this is another important factor in the development of online casinos in India. Well, this is because the law is what guides how and what will apply.
However, the point remains, that this state of affairs is a net loss for India. Only allowing foreign entities to compete in such a lucrative market shows that there is still much to do as regards gambling in India.
Economic Importance of Indian Casinos
The gambling industry is one of the biggest in the world in terms of revenue. It is only behind the medical, technology, and marijuana industry in terms of revenue generated. Note that it is one of those industries that incorporate other industries into it. Just to illustrate, the tech industry stands to benefit a lot from the growth of the online Indian gambling industry. The production of different gambling machines and software are a testament.
Besides the machines, Indian casinos also provide Indians with job opportunities. The croupier, security guards, IT guys, HR managers, and many others stand a chance of getting meaningful jobs. Furthermore, land-based casinos and hotels have a significant relationship. Most high-class hotels usually have a casino on the first floor. People who lodge in the hotel can make some extra money and have fun while casino players can also make use of the additional features of the hotel. Looking at it closely, you will agree that it is a win-win situation.
There are many other industries that will benefit from the growth of gambling in India.
Trusted Online Gambling Sites
Despite the laws, there are certain online casinos that allow Indian players to gamble securely. The best advice Indian players can take is to choose a reliable casino site from an Indian casino comparison website. Several new ones have already popped up this year, such as casinos-india.in. It reviews and selects the safest and most reputable online casinos that permit Indian citizens to play in and use Indian rupees for transactions. Other features that make it easier to play casino games online can also be found on those sites. Here are some that are most visited online casinos:
- Royal Panda
- Jackpot City
- Royal Vegas
All in all, these platforms are some trusted online casinos in India. They make it easy to transact with the various gateways. They also give you returns. The least of them has at least 96% RTP. Their high return to the player rate ensures that players always win some money. Finally, they make it easy to cash out on your winnings. All these platforms have a payout rate of 1–2 days which means that you can withdraw your money in no time.