It is reported that India is considering introducing a new federal online gambling law to regulate the industry.
According to local media citing anonymous officials, the Ministry of Home Affairs (MHA) has begun discussions on the necessity of formulating a new online gaming law.
The Ministry of Home Affairs in India recently held a meeting to discuss this matter, attended by leaders of various agencies including India's internal security and intelligence organizations.
Previously, the Ministry of Electronics and Information Technology planned to introduce a self-regulation mechanism for the skill-based gaming industry in 2023.
However, this method of outsourcing oversight to non-governmental organizations has been criticized for leaving significant regulatory loopholes.
An official told reporters: "We have decided that the Indian Cyber Crime Coordination Centre (I4C) of the Ministry of Home Affairs will prepare a report based on discussions about the necessity of formulating new laws to regulate online gaming, gambling, betting, and lotteries.
"As these activities are rapidly expanding, a decision will be made after the report is submitted."
It is reported that several operators in India are under investigation
Sources revealed that the failure of the current system has led to investigations by central agencies into several large companies for deceiving Indians.
Celebrities who promote illegal gambling activities not authorized by Indian skill-based gambling laws are also condemned.
These can be traced back to the Public Gambling Act of 1867 in India, which comprehensively prohibits the provision of games of chance.
Although its definition has changed over time and often varies between states in India, skill-based games typically include poker, rummy, Teenpatti, or chess.
The government is concerned that offshore gambling platforms may manipulate gambling outcomes to defraud players of their winnings.
While the specifics of the new law are still unclear, if legislators choose to regulate sports betting and online gaming, India could become one of the largest markets in the world.
Particularly, cricket betting has been seen as a vertical industry likely to experience significant growth.
India's emerging skill-based gaming industry has achieved some success in recent years, although its continued expansion is challenging due to a 28% Goods and Services Tax.
