The Indian Gaming Convention 2024 brought together industry leaders, lawmakers, and experts in New Delhi this past week to discuss the future of online gambling in India. One of the key takeaways from the convention was the urgent need for specific legislation to regulate and oversee the booming online gambling industry in the country.
Online gambling has seen explosive growth in recent years in India, with millions of players participating in various forms of online betting and gaming. However, the lack of clear regulations and oversight has created a Wild West atmosphere, where players are often left vulnerable to fraud and exploitation.
At the convention, speakers highlighted the need for legislation that would protect players, ensure fair play, and combat problem gambling. One expert, Dr. Rajesh Khanna, a leading psychiatrist specializing in addiction, emphasized the risks associated with online gambling, especially for vulnerable populations such as young people and those struggling with mental health issues.
“Without proper regulation, online gambling can quickly escalate into a dangerous addiction for some individuals,” Dr. Khanna warned. “We need clear rules and safeguards in place to protect players and prevent harm.”
In addition to concerns about player safety, the convention also addressed the need for legal clarity for operators in the online gambling industry. Without specific legislation in place, many operators are operating in a legal gray area, leading to uncertainty and potential regulatory crackdowns.
“Having clear guidelines and regulations will not only protect players but also provide a framework for operators to operate legally and responsibly,” said industry veteran Ravi Patel.
The convention concluded with a call to action for lawmakers to prioritize the passing of specific legislation on online gambling. Experts and industry leaders stressed the importance of consulting with stakeholders, including players, operators, and addiction specialists, in order to create a comprehensive and effective regulatory framework.
“It’s time for India to step up and address the challenges posed by the online gambling industry,” said convention organizer Anisha Gupta. “We urge lawmakers to take action now to protect players and ensure the industry operates in a safe and responsible manner.”
As the online gambling industry continues to grow in India, the need for specific legislation has never been more urgent. With the insights and recommendations from the Indian Gaming Convention 2024, lawmakers have a roadmap to create a regulatory framework that promotes player safety, fairness, and accountability in the rapidly evolving online gambling landscape.