Charm of Live Casino worth Around $60 Billion

March 26, 2020

It is always better to find a suitable, reliable online casino website that operates on local currency. Currency conversion may attract fees that affect your overall profit. The exact currency conversion also points to ponder; you have to constantly convert Rupees to the dollar, pound, or euro the most commonly used currencies in online casinos. Now there are many Indian online casinos who operate on INR. But in the last couple of years, Indian players have become more active and taking part in online casinos, with a thriving economy, tech-savvy middle class, and swiftly growing internet online gambling is booming in India. It is estimated the gambling industry (including online and land-based) is worth around $60 billion.

The factors to consider

Finding the best possible online casino based on your persona and taste is a bit tricky. Some players like to bet on live casino games, others like video poker, and some like to bet on sports. There are comparison sites that rank and review the best casino in rupees on different crucial factors. There is always an advantage when you chose an online casino which deals with the same local currency. To choose an online casino, some factors must be considered, namely:

  • The payment structure they have formulated.
  • Will you be able to open an account with the Indian rupee?
  • Is there a friendly round the clock customer service to resolve your problems?
  • Whether the online casino has a proper license to operate and abiding all the laws and regulations of the land.
  • What welcome and other bonuses they offer to Indian players.
  • The currency used to display bonuses, and other financial transactions are exhibited in INR or not.
  • Reviews and comments of existing Indian players on the website.

Legal scenario

Regulations and laws of Indian gambling are pretty vague and ambiguous. According to a study conducted by Playwin(lottery agency owned by the Indian state of Sikkim), a fully regulated online gambling would be worth around $5 billion. A well-formulated gambling regulation will enhance tax revenue significantly. In countries where gambling is regulated, the tax rate implied varies from 15 to 30%. India has a huge potential to enhance tax revenue from the online gambling industry. A crystal clear law and regulation will also attract foreign investment in this sector.

Booming market

Indian online gambling is flourishing due to two major reasons; growth of the middle class with disposable income and spread and expansion of cheap internet across the country. It is believed India has over 100 million internet users in 2010/ 2011, which constitute just less than 10% of the population. Compared to other countries like; China 34.3%, US 79%, Japan 80%, Germany 81.85%, United kingdom 85%, it is the clear proliferation of the internet has huge potential, so have the online gambling industry. Best casinos in the rupee have their headquarters in Europe. The reason behind this is Europe has better infrastructure, regulations, and laws regarding gambling. Most online are clustered around Malta, Gibraltar, Estonia, and Curacao. With the rapid growth of the internet and affluent middle-class online casino industry in India is going to prosper.

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