Topic: Gambling related law in India (Read 462 times)
Countries have long been trying to find a way to legislate cryptocurrency. India is an excellent source for the development of crypto gambling. They have a large population that will cover a sufficient part of the gambling industry. In addition, they made a huge step in the development of crypto, since they are ready to legally approve cryptocurrency ... Not all countries can do this!
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
The only thing here is that, despite the public law and prohibitions, there are still a lot of illegal gambling activities going on in India with the Indian government not being able to do anything about it, but in the real sense, it is considered not legal.
In 2016, the population of India was 1.324 billion. If the government regulates online gambling and only a very small percentage of the population plays, the government will make a lot of money in taxes.
Currently, a lot of illegal gambling activity is happening in India so they are just trying to reduce that percentage and also the government can make some tax money from it. Indian government very popular for the high taxes so I expect it will be a very huge amount of tax they may add for all the winning amount and which may indirectly force people to choose to gamble illegally or go to crypto gambling sites which are not regulated for the taxes to reduct from the winning amount.
The tax should be a reasonable amount then only people may be ready to pay it because they risk their hard earned money to play these games so the government shouldn't ask for a huge amount of tax.
India has the largest Crypto gamblers / investors.
If you don't know India has the most workers for Facebook adds, where they provide some sort of better SEO marketing.
They also like / love to invest in new technologies so it can become a much rich world.
I support India's gambling approach right now as long they play safe against government counter measurements.
If you don't know India has the most workers for Facebook adds, where they provide some sort of better SEO marketing.
They also like / love to invest in new technologies so it can become a much rich world.
I support India's gambling approach right now as long they play safe against government counter measurements.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As far as I know, gambling is not completely illegal in India. Two states, Goa and Sikkim allow land based Casinos. As for online gambling, with the exception of in Maharashtra state, there are no laws which clearly state that it is illegal for an Indian resident to gamble online.
Online gambling, if regulated correctly, can bring a lot of money to the budget of the country, so forbidding it would be an unwise move. Could you share some links in proof of what you said?
You are right. Gambling is a state subject in India. States can formulate laws for gambling activities. We are still following the Public Gambling Act ,1867 and it has no reference to online gambling activities. That is why there is no law clearly states that Online gambling is illegal.
That's what I thought. So, basically, if a crooked cop in India, knowing that you own a gambling site, is threatening and blackmailing you, extorting a bribe, you can ignore him because you do nothing illegal.
It's interesting that some people, like @onrise here, for example, think exactly the opposite. Can't they read? Or, maybe, there's a lot of contradictory information on the subject, especially in the local press and TV.
Yes people are so confused. In India if you are an influential person you can easily get away from crimes committed. You may have heard of big frauds in India who scammed millions of dollars and peacefully living in other countries. So, that's the case in gambling industry too, if the government really want to nail you, they could easily do it. On the contrary, they could also help you to go out if you can successfully bribe influential politicians.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As far as I know, gambling is not completely illegal in India. Two states, Goa and Sikkim allow land based Casinos. As for online gambling, with the exception of in Maharashtra state, there are no laws which clearly state that it is illegal for an Indian resident to gamble online.
Online gambling, if regulated correctly, can bring a lot of money to the budget of the country, so forbidding it would be an unwise move. Could you share some links in proof of what you said?
You are right. Gambling is a state subject in India. States can formulate laws for gambling activities. We are still following the Public Gambling Act ,1867 and it has no reference to online gambling activities. That is why there is no law clearly states that Online gambling is illegal.
That's what I thought. So, basically, if a crooked cop in India, knowing that you own a gambling site, is threatening and blackmailing you, extorting a bribe, you can ignore him because you do nothing illegal.
It's interesting that some people, like @onrise here, for example, think exactly the opposite. Can't they read? Or, maybe, there's a lot of contradictory information on the subject, especially in the local press and TV.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As far as I know, gambling is not completely illegal in India. Two states, Goa and Sikkim allow land based Casinos. As for online gambling, with the exception of in Maharashtra state, there are no laws which clearly state that it is illegal for an Indian resident to gamble online.
Online gambling, if regulated correctly, can bring a lot of money to the budget of the country, so forbidding it would be an unwise move. Could you share some links in proof of what you said?
You are right. Gambling is a state subject in India. States can formulate laws for gambling activities. We are still following the Public Gambling Act ,1867 and it has no reference to online gambling activities. That is why there is no law clearly states that Online gambling is illegal.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As far as I know, gambling is not completely illegal in India. Two states, Goa and Sikkim allow land based Casinos. As for online gambling, with the exception of in Maharashtra state, there are no laws which clearly state that it is illegal for an Indian resident to gamble online.
Online gambling, if regulated correctly, can bring a lot of money to the budget of the country, so forbidding it would be an unwise move. Could you share some links in proof of what you said?
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto.https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
India as far as I know has a illegal status to gambling in their country unless it is on the sea being setup. On land they have this law that it is illegal and if caught you would be punished and may be imprisoned. And also if used crypto to gambling still you are doing illegal thing.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
this means that crypto can be enjoyed by several countries in the world, if indeed gambling in India already uses crypto, it means that India is an important part of the future development of crypto. https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
As i know any kind of gambling are prohibited to all Indian people it's against in their religion
In my opinion crypto gambling are difficult to banned if people they want to play gamlbling
meaning nobody can stop people freedom to choose their happiness
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
As i know any kind of gambling are prohibited to all Indian people it's against in their religion
In my opinion crypto gambling are difficult to banned if people they want to play gamlbling
meaning nobody can stop people freedom to choose their happiness
Gambling of any form is banned in India but that is not because of the religions. There are indeed few religions where gambling is totally banned and considered as a sin, but that's not all. There are other socio-political issues which made the gambling prohibited in India. But yes, crypto gambling or online gambling can't be banned in India because of its nature. Even offline gambling on various sports is very much popular in India and people spend billions on gambling here. But due to the legal prohibition, government is not getting any benefit out of it! That is the reason why Law commission of India proposed to legalized gambling! At least government will earn something out of it!
Hey the last time in I was in India, I was informed your country does not allow bets on sports, it's considered criminal offence there, and then I visited Goa and went for a derby, and I gambled at both places. It seems gambling has always been going on unregulated, now they're keen on regulating it which will make sense, if you see from government point of view, they'll get revenue. I don't think that it's banned due to religious sentiments, government will secure it's revenue first, though at this point how will they deal with all people in jail for gambling, this shall be interesting don't you think?.
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
As i know any kind of gambling are prohibited to all Indian people it's against in their religion
In my opinion crypto gambling are difficult to banned if people they want to play gamlbling
meaning nobody can stop people freedom to choose their happiness
Gambling of any form is banned in India but that is not because of the religions. There are indeed few religions where gambling is totally banned and considered as a sin, but that's not all. There are other socio-political issues which made the gambling prohibited in India. But yes, crypto gambling or online gambling can't be banned in India because of its nature. Even offline gambling on various sports is very much popular in India and people spend billions on gambling here. But due to the legal prohibition, government is not getting any benefit out of it! That is the reason why Law commission of India proposed to legalized gambling! At least government will earn something out of it!
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
As i know any kind of gambling are prohibited to all Indian people it's against in their religion https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
In my opinion crypto gambling are difficult to banned if people they want to play gamlbling
meaning nobody can stop people freedom to choose their happiness
That is the reason why most of the government choose not to ban them in their country but just increase the tax that they are getting from these gambling places or casinos. With that, they will be able to earn something out of these gambling addicts. People will always find a way to gamble, it might be banned to their country but gambling sometimes would not hurt right?
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
As i know any kind of gambling are prohibited to all Indian people it's against in their religion
In my opinion crypto gambling are difficult to banned if people they want to play gamlbling
meaning nobody can stop people freedom to choose their happiness
As per a recent article online:
https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
Bitcoins and other cryptos have made gambling much easier, faster and secure giving no authority to track the transaction so i think that it is really good. As per the government of India, having some issues regarding the circulation of cryptos with their fiat currency, they banned the incoming and outgoing transactions related to cryptos with the centralised banks. RBI(Reserve Bank of India) decided to shut down all the major accounts related to cryptos so that caused some minor distrubance in between in the region of India but everything is alright now i guess. Also if the government of any country has profits with cryptos, they would insist it and make them grow more. https://medium.com/@cryptokanoon/law-commission-of-india-treats-crypto-currency-at-par-with-other-recognized-electronic-means-of-4ec662183b7e
Trend of online gambling with crypto in India is on continuous rise. What is your opinion about this ?
In 2016, the population of India was 1.324 billion. If the government regulates online gambling and only a very small percentage of the population plays, the government will make a lot of money in taxes.
Currently, a lot of illegal gambling activity is happening in India so they are just trying to reduce that percentage and also the government can make some tax money from it. Indian government very popular for the high taxes so I expect it will be a very huge amount of tax they may add for all the winning amount and which may indirectly force people to choose to gamble illegally or go to crypto gambling sites which are not regulated for the taxes to reduct from the winning amount.
The tax should be a reasonable amount then only people may be ready to pay it because they risk their hard earned money to play these games so the government shouldn't ask for a huge amount of tax.
Jump to: