The other day I was reading about how Steam is finally cracking down on the various CSGO betting sites. This step effectively blocks players to earn real money from in-game items (basically only Valve can do that). As much as I read into it, the more I was surprised of how deep and detailed this meta-market was when it came to games.
People are not only making bets on the result of matches in video games which include LOL, DOTA2 and CSGO among many others. But the players themselves are using the items earned in-game selling them to get e-chips (or e-cash) and then use that to earn even more e-cash and incidentally earn even more in-game items. Technically, you could cash out at any time, but practically its a vicious circle of gaming, gambling, buying and selling which is inherently addictive.
The Legality
One thing led to another and soon I was on the classic topic of, “Is gambling legal in India” or more specifically is “Online Gambling legal in India”. You can read it in detail here, but below is a summary.
Well for starters it is categorically illegal if you are in Maharashtra. Every kind of gambling (except for Horse Racing) is considered illegal in the state, which includes Online Gambling as well.
Sikkim on the other hand, takes a very progressive approach and legalizes online betting, the government now has the authority to issue licenses to operators wishing to provide online gambling services within the state. So irrespective of the state you belong to, you can take place in betting if the gambling house is based out of Sikkim (except of course you are in Maharashtra).
In the other states though, its more of a grey area. This is mostly because, gambling laws are the prerogative of individual states. So while gambling is looked upon as a taboo in most states and might land you in trouble, legally it stands on thin ground. Especially if you are involved in ‘online betting’. The only law that covers gambling was made in 1867, so obviously it cannot cover online gambling.
Further, with advances in online wallets and Paypal which adds a layer of anonymity to online transactions, online gambling becomes a safe way to scratch your gambling itch from the comfort of your home.
The Origin
But where is this huge online gambling crowd coming from. Well most of them come from gamers and people who have already have had a taste in online gambling, through online slots and casinos. Sites like “netbet casino” offer its players a safe haven to gamble and earn/lose money on games like online poker, online slots, and online blackjack.
More than 10 years ago, online casino games made their first appearance on the scene and changed the lives of many loyal casino fans. Now completely automated, available at your nearest PC (and more recently on many of the latest mobile technologies) the convenience of having access to all your favorite casino games from home has become very popular. The process of having to travel how ever many miles to your nearest land based casino, is no longer a concern.
Read: How online Slots work
The online gambling industry has evolved quite substantially; in its initial phases it wasn’t as personalized and lacked the more prominent features which now make for a more interactive casino game experience. As it stands, live online casino games have become quite a popular choice amongst gambling enthusiasts. Net Bet casino is among the front runners, offering this live casino online experience with their assortment of games available.
The Future
With online gambling reaching record numbers each day, it is becoming important for governments to formulate a policy. I believe that it is necessary to take a stand on this issue, as it involves too huge a revenue amount to be left in the grey area. Either seize it or regularize it, a decision either way needs to be made quickly.