The gambling industry is one of the largest growing industries worldwide in terms of revenue. Most countries are making efforts to regulate the industry and manage its growth. A lot of countries have made significant progress, some not so much while others have made almost no progress. If you enjoy travelling, this article will guide you during your tours as it compares the gambling industry and online casinos of India and the UK.
The Indian Culture and Gambling Habits
Indian culture emphasizes the values of the “family”. In fact, Indians are naturally conservative people who value interpersonal interaction. They are very religious and very conservative people who are quick to avoid occasions or activities. The time of India being the “world poverty capital” is becoming a thing of the past. Despite their religious and conservative nature, gambling is not new to Indian people. Many historic sites have been discovered to have traces of gambling items like dice and the likes. Also, horse racing and lotteries are a major part of gambling in India.
Furthermore, although the government is making effort to clamp down on betting, it has not been able to curtail gambling activities in India. The gambling industry in India is mostly considered illegal and is grossly unregulated. The government seems to prefer outrightly banning it than regulating the industry. The reason for this ban is that the Indian people see it as a threat to the cherished family unit.
The Situation of the Indian Online Casino Industry
The Indian online casino industry regulations are much more complicated than those of the physical forms of gambling. Online gambling is neither illegal nor legal at the federal level as the Indian federal laws do not cover online activities. However, states also have the jurisdiction to establish and enforce gambling laws. Some states use this opportunity to ban online gambling or use it to regulate online casino activities while others decided against making further laws.
Online Casino Regulation in India
One way the federal and state government enforce the ban on online casino activities is by restricting bank transactions between online casinos and players. But according to traffic metrics from casinos-india.in, this still has not stopped Indians from gambling at online casinos as they use other digital payment options. These have reinforced the will of Indian players to continue playing at online casinos. The main reason is because they pay faster than bank transfers. While bank transfers can take as much as 7 days to effect transactions, digital wallets effect transactions within 24–48 hours.
Furthermore, the lack of regulation exposes Indian players to various risks. There are no oversights or restrictions as to the benefits or bonuses that online casinos can offer players. This is one of the major causes of the large disparity in bonus offers amongst casinos. Lack of proper regulation also means that the winnings of Indian players are at the mercy of the online casino.
There are many cases of players getting defrauded by online casinos. They cannot report it as the authorities do not condone online casino activities. However, this has not stopped Indians from online casino activities as a report showed a hike in online casino activities amongst Indians during the 2020 pandemic lockdown.
Gambling Addiction and Helplines
It is not advisable for underage individuals to gamble as they are most likely to become addicted. Even adults can get hooked to gambling especially if they do it for a living. It is even worse when gamblers have to borrow money or use money intended for a project to gamble.
To help curb this issue, there are certain organizations who help Indian gamblers overcome their gambling addiction. Players can contact Hope Trust India, Gambling Therapy and many other helping organizations via their helplines if they are experiencing any gambling compulsion. Gambling addiction is a mental problem and has to be stopped by all means possible.
Online Casinos in India vs Online Casinos in the UK
The UK gambling industry is by far more progressive compared to the Indian gambling industry. It has over 8,000 outlets that operate as “betting outlets” not part of a hotel or another establishment. Gambling such as horse racing, lotteries, bingo, slot and card games are all properly regulated by the UK Gambling Commission to ensure that they offer fair games to gamblers.
It is in the operation of online casinos that the UK edges out, India. The UK has legislation and technologies to properly regulate the online casino industry. The laws are detailed, comprehensive and cover every aspect of online casino activity. The technology is also adequate to ensure proper monitoring of online casinos.
Regulation and Rules
Unlike the Indian federal government, the UK Gambling Commission does not outrightly ban online casino activities. Its rules can be divided into three parts:
- to ensure the financial stability of an online casino,
- to ensure that players are protected by ensuring that these online casinos offer fair games
- and to protect players gambling in online casinos in the UK.
Online casinos in that country are forbidden from registering underage individuals. Furthermore, while the locals are forbidden from gambling in online casinos in India, the UK only encourages its citizens to gamble at licensed or regulated casinos.
The UK permits everyone to gamble, but only tourists or foreigners are permitted to gamble in India. Also, while online casinos are free to offer various sizes of bonuses in India, the UK Gambling Commission ensures that online casinos offer a particular range of bonuses or benefits.
Revenue Generation and Player Protection
The different approaches are yielding different results. The UK gambling industry is currently protecting its players against fraudulent casinos while the Indian gambling industry is exposing its players (save for Sikkim) to fraudulent casinos. The British government is raking £14.3 billion in revenue while the Indian government is losing billions of dollars to unregulated gambling.
The UK has also given its citizens gainful employment by properly regulating online casinos. The UK Gambling Commission will make efforts to help players recover their money when defrauded by an online casino. However, an Indian player cannot report a case of online casino fraud to the authorities.