Illegal online gambling may rise in India due to high taxes, study says
A recent study suggests that the high taxes on legal gambling activities in India may lead to an increase in illegal online gambling operations in the country. The study, conducted by a team of researchers at a leading university, found that the high tax rates levied on legal gambling activities, such as casinos and sports betting, are driving punters towards unregulated and illegal gambling websites.
According to the study, the current tax rates on legal gambling activities in India are exorbitantly high, with casinos and sports betting operators being taxed at rates as high as 28%. This has made it increasingly difficult for legal gambling operators to compete with their illegal counterparts, who are able to offer much lower prices due to their lack of regulation and tax obligations.
The researchers warn that the rise in illegal online gambling presents a number of dangers for Indian punters, including a lack of consumer protection measures, the potential for fraud and money laundering, and the risk of addiction. They also note that the government stands to lose out on significant tax revenue if the trend towards illegal gambling continues to grow.
In light of these findings, the researchers recommend that the government consider reevaluating its tax policies on legal gambling activities in order to make them more competitive with illegal operators. They also suggest that greater efforts be made to crack down on illegal gambling websites and prosecute those responsible for running them.
The study comes at a time when online gambling is becoming an increasingly popular activity in India, with millions of Indians participating in various forms of online betting each year. With the potential for illegal gambling to rise in response to high taxes, it is clear that action must be taken to ensure the safety and integrity of India’s gambling industry.