Betting on the subcontinent: India's gambling potential

Betting on the subcontinent: India's gambling potential

Thursday, July 26, 2018 Posted by Michael Lawson
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Giulio Coraggio and Vincenzo Giuffre of DLA Piper provide some insight.

Earlier this month, the Law Commission of India published a 145-page report that recommended the licensing and regulating of gambling in the vast South Asian nation, as a way of curbing the rise of online betting activity. But how much sports betting potential does India possess? Read an excerpt from an interview with Giulio Coraggio and Vincenzo Giuffre of DLA Piper, two of the sports betting world’s foremost legal minds, to find out more:

“As mentioned above, there are no specific central laws governing gambling online in India. Sikkim and Nagaland are the only States that actually permit online gambling with several restrictions. Initially, online gaming was limited to a certain group of people, but slowly more people began to engage it. Industry operators could hire and invest in professional gamers.

“As mentioned in the report, Cobx is ready to invest a sum of $10 million on professional players in India and a mobile company is planning to invest a $20 million on Indian eSports,. As from the data collected by an international study conducted by KPMG and Google in 2017, the current market of online gaming in India will rise from $360 million to $1 billion by 2021.

“Some of the advantages of regulating betting activities, other than the attraction of foreign investments, could be represented by: (i) the protection of vulnerable portions of the society; (ii) a considerable increase of the revenues that may become a good source for public welfare; (iii) the enlargement of job employments.”

Totally Gaming says: A lot of high-profile sports betting firms will be keeping close tabs on India, knowing there’s potential for it to loosen its laws sometime soon. As one of the world’s fastest growing economies, the potential is boundless.   

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