Online Gambling in the form of Gambling which was made for the internet world. By doing this, the gambling industry saw huge profits as more people got into online gambling. The most popular kinds of online gambling are Virtual Poker, Casinos and everyone’s favourite, Sports betting. The online gambling industry runs into billions of dollars, and accordingly to some estimates,it is around 40 Billion Dollars every year.
Legal Status In Different Countries
- Antigua and Barbuda- The companies that operate out of the country are traced publicly in various stock exchanges, especially the London Stock Exchange. Antigua and Barbuda companies were having an issue in the USA, but on the 28th of January 2013, The WTO allowed Antigua and Barbuda to exploit the USA market.
- Australia- Australia on 28thJune 2001 made any gambling in Australia an offence, and it applies to every gambling provider in Australia, but Australian residents are allowed to Play Poker and Sports betting is also legal in Australia.
- India- Online gambling in India is a little more complicated as compared to other countries. Here, the Union government does not make the laws on online gambling, but respective states draft their laws against gambling. For example, Maharashtra has made Online gambling illegal under the “Bombay Wager Act”. Other states have not made such laws.
Problems Of Online Gambling
In 2015, A review was conducted, and it was found that online gamblers suffered higher levels of Mental health issues and substance abuse, among other things, compared to non-gamblers. The main issue is 75% of gamblers are pathological gamblers, and only 20% of those who gamble do so on legal sites. Money laundering is a very common problem when it comes to sbobet online gambling as many a time, the sites or the people who tell us to gamble launder the money, and the Gambler is cheated.
It is vital to understand the laws set up by the Indian Government regarding gambling games which are not firm but vague because online gambling is not banned in the country. Happy gambling!!