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The online casinos also have the perpetual house edge that assures their winnings against the online punters aiming to hit the jackpot and win some money. It is even a problem for some casino owners, who are trying in vain to lower their edge. As they are still taking a loss on each bet they can never have this advantage over the online players who will always be using the same online betting system.
2. Why are online betting sites not in regulated systems of operation?
The government has decided to ban online betting and online casinos on the ground that such activity attracts money laundering, terrorism funding, and extortion. With the ban imposed, only one legal avenue to play online gambling remains open. The government could have banned such betting sites as per the recommendations of two Parliamentary Standing Committees, but to date this option was not taken by the government to regulate online betting.
A ban on all betting on bets in the name of sports in India would help in generating revenue to the tune of several billions of rupees per annum. At present the total amount of money earned is estimated just to be around Rs 60,000 crore. However, with the ban, online betting is bound to boom in India, generating new revenue and attracting new players allocating to bettensies across the country. However, this new avenue for the government is a welcome step to control the illegal activities of the country's biggest industry.
3. What happens to the existing illegal gambling companies?
When a company conducts illegal activities, it has to face legal consequences, including imprisonment. So, if the company is caught, it will have to pay substantial fines and face legal consequences. These illegal gambling companies have been making millions, not only from betting but also from all the other illegal activities such as gaming. As soon as the ban on online betting is imposed, there will be huge money in their pockets, which they will use for expanding or expanding their illegal industry. They could open and operate as many as six to eight other legal gambling companies at the same time, increasing and further expanding their illegal activities like betting and gaming.
4. Does the government have the will and authority to ban online bets and online gambling?
The government has the capacity, resources and the authority to do so. The decision to ban online betting and online gambling is entirely an act of the government, with or without the Parliament having given its approval. The government has the capacity to ban such illegal betting sites. In this regard, the government has taken an affirmative action for banning online betting and online gambling.
5. Will there be any effect on other illegal gambling related activities?
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