A recent study has revealed that high taxes and selective bans on online gaming in India have led to a staggering 30% growth in illegal online gambling in the country. The study, conducted by a leading research firm, highlights the negative impact of government regulations on the online gaming industry in India.
According to the study, the high taxes imposed on online gaming operators have forced many players to seek out illegal alternatives in order to avoid hefty fees. In addition, the study found that selective bans on certain forms of online gambling, such as poker and sports betting, have pushed players towards unregulated platforms, where they can participate in these activities without fear of legal repercussions.
The growth of illegal online gambling in India has raised concerns among law enforcement officials and industry experts alike. The study warns that the lack of regulation in the illegal online gaming market leaves players vulnerable to fraud and other criminal activities, as these unregulated platforms often lack proper oversight and consumer protections.
Furthermore, the study points out that the growth of illegal online gambling has also had a negative impact on the legitimate online gaming industry in India. Legal operators are facing increased competition from illegal platforms, which often offer lower fees and more enticing promotions to attract players.
In response to the findings of the study, industry experts are calling for a more balanced approach to online gaming regulation in India. They argue that a combination of reasonable taxes and effective oversight can help to drive growth in the legitimate online gaming market, while also cracking down on illegal operators.
It remains to be seen whether policymakers in India will take action to address the issues raised by the study. In the meantime, players and operators in the online gaming industry will need to navigate a complex and challenging regulatory landscape in order to ensure the growth and sustainability of the market.