Gambling, in general, refers to playing a game of luck for money. Online gambling simply refers to gambling which is conducted over the internet. It may include virtual poker, baccarat, and sports betting. Due to globalization and digitization, the market for online gambling has increased to $40 billion per year. In India, the rules of online gambling vary from state to state. Even though in most countries, online gambling is illegal, it is still widely prevalent. Worldwide even though the internet has a huge audience, there is no single framework governing online gambling. Every country has its regulations to deal with regulatory issues regarding วิธีเล่นบาคาร่า.
Types of online gambling
With the arrival of the internet and its widespread reach, many online gambling forms have been made available. Gambling has become one of the important businesses on the internet. The online gambling industry has thrived due to its presence in multiple forms for different types of people. Some of them are:
- SPORTS BETTING-In sports betting, a wager is placed upon the result of any sports activity. The sport of choice differs according to culture. In countries like India, bets may be placed upon cricket matches in IPL or other international competitions. In other countries, bets may be placed on football, basketball, baseball, etc. Sports betting may also occur in sports that do not involve athletics like cockfighting, greyhound racing, and horse racing.
- ONLINE BACCARAT-Various gambling companies offer online baccarat, which includes games like roulette, blackjack, and others. In online baccarat, players play against the host app or organization.
- ONLINE POKER-There is online poker tables that host games, but the game is played among players. There are two types of structures-Cash game and tournament structure. The table earns money through commission or tournament fees.
- LOTTERY-Initially, the lotteries were run by small individuals and companies. However, due to the scope of a large amount of taxable income, most of the lotteries are run by the government, making several laws to curb its competition.
- MOBILE GAMBLING -In this type of gambling, an electronic device may be used to facilitate gambling.
Online gambling in India
In India, the ‘game of skill’ has been left out of the reach of gambling. ‘Game of chance’ falls under the definition of gambling. Thus, several online gambling apps like Paytm first games and Dream 11 operate in the country. As gambling is in the ambit of state subjects, every state can formulate their laws. States like Punjab, Haryana, and Mumbai have ruled apps like Dream not coming within the definition of gambling. The user base of online gambling in India has soared in the lockdown period. Due to new revenue streams, employment, and less likelihood of match-fixing, a framework rather than a clear ban would be useful in India.
Online gambling needs to be better regulated and defined to ensure the financial safety of the players and the company hosting these games. With the proper framework, online gambling can become a good source of revenue for the state.