Laws and Popularity of iGaming in India
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A recent statistic shows that India recorded about 421 million online gamers in the year 2022. This is a visible eight percent growth on the previous year. This itself is valid proof of the booming popularity of igames in the country. The pandemic outbreak in 2020 happened to a favorable condition for the industry making most of the people rely upon online gaming as a source of entertainment. This has added approximately 24 million Indians to the payment-linked gaming market and an expand of 420 million users in 2022 to 450 million in 2023 is foreseen.
For the past two years, India’s contribution to the online gaming market has been significant with a rise of 40% in 2020 to 50% in 2021. Payment-based games had witnessed a revenue hike by 26% in India and the number of paying players increased by 17% according to authentic sources. These figures definitely spell good news for the gaming industry.
Let us look at some of the reasons that increase the popularity of iGaming in India. If you wanted to get started with sports betting or online casino gaming in India, sign up with Parimatch India today!
Wide Array of Gaming Options
Indian gamers are opened to a wide selection of games provided by various online casinos and sportsbooks. Game list gets updated on various sites on a weekly or monthly basis letting people earn a different experience along with financial gains.
Great Accessibility
As the name says, these are online games which allow participation from any part of the world. All what a player must be equipped with is a smartphone and a stable internet connection. This says that they don’t even need to leave their house to play, making it one of the top reasons for the boom in the popularity of online gaming in recent years.
Easy Payments in India
As the gaming operation pattern requires an initial deposit to be made from the player’s end, they always look out for flexible and easy payment options. One reason why Indian players enjoy igaming is because of the payment process take place seamlessly. Some of the most used payment options available in India are:
- Credit cards
- Debit cards
- UPI
- Paytm
- Cryptocurrency
Great Customer Service in India
Most of the sites provide 24/7 customer services. With 24/7 customer assistance, players feel more comfortable getting into games as they are sure to receive instant clarification on their doubts discussed with the team. Questions regarding deposits, bonuses, withdrawals, etc. are swiftly answered and a player can get in touch with a customer support agent through phone, email, or live chat. Parimatch has a customer support team that works round the clock to support your gaming the right way.
Is iGaming Legal in India?
India’s iGaming industry has seen a visible growth in the recent years, and it has become an important industry in the country. As with the rapid growth and public involvement in the industry, there have been calls for enhanced regulation over the activity. However, when hearing about the activity, the first question that hits many minds is regarding the legal sides of the same. Is iGaming legal in India? Let us read on the same in detail.
For records, India has only three states where iGame is regulated. Even with Goa, Sikkim and Daman being the states with legal gambling, the remaining part of the country is still able to experience the fun of casino games. That’s all thanks to the affordable internet accessibility.
Primarily, gaming as a whole is regulated in India under the Public Gaming Act of 1867. Since this law was passed in 1867, nothing about internet gaming was mentioned and this makes the activity neither legal nor illegal. It’s the only law that regulates gaming activities in India till date. Even the Information Technology Act of 2000 has no mention of any online gaming activities. So, this makes Indians free to place their bets online. Currently, gaming is regulated by states and consequently there is inconsistency in how different states perceive online gaming involving real money. There are certain states that have even imposed a ban on iGaming despite the jurisprudence that such games shall not be considered unlawful.
Legality
Online games are legal in India but comes to you with certain restrictions. The government considers online betting and gambling as a potential source of money laundering and corruption and that resulted in the restrictions imposed on them. The power to decide over the existence of online gaming is endorsed upon the states specifically and it is up to their discretion whether to promote or ban the igaming industry within the particular state.
Governing law & Regulatory Body
The gaming rules are in response to a long-standing industry’s requirement of having a centralized structure for monitoring the igaming activities around the country. As of now there are no dedicated department to monitor the igaming activities in India. However, the sector is currently monitored by the Ministry of Electronics and Information Technology (MeitY). On 2nd January 2023, MeitY has issued draft rules for regulation of online gaming in India. The proposed provisions have been introduced as an amendment to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.
Proposed Amendments
The proposed draft classifies provider of online games as intermediary under the IT Act 2000. It states that the winnings of games shall be payable in cash and kind. According to the draft all igaming activities need to be registered with the self-regulatory body.
Customer security
Customer protection has been one of the greatest concerns when it comes to igaming. There are instances when players get cheated and there are no defined dispute resolving mechanisms currently. The government is vigilant on this and is working on a defined set of rules to ensure the protection of players.
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