21 February, 2016

Cyber Gambling : A Brief Introduction

The Internet has changed the way we live to a large extent. Many physical entities online have increased and have become practically available to anyone who has access to the Internet. Cyber gambling is one thing that became very popular in the Internet.
Online gambling, betting online or as it is called, is the process of betting on games and other events online. The practice of gambling has always been prevalent in our society and it is part of almost all games. However, online gaming has become very popular because of certain reasons.
(1) First, you need not be present physically in place to bet on the match. This serves as a huge advantage for the people, because they simply can bet on their favorite team without moving out of their houses. In addition, the method is very simple. Some of these companies allow users to pay by wire transfers and some others allow their users to use their credit cards or debit cards, which makes the betting process easier than ever.
(2) In addition, you can wire the amount of your gambling to society through the Internet. So all these things make the online game easier than the real money games taking place in casinos, hotels and other places.
In 2002, Sikkim granted a license to Playwin to run its state lottery. It is the officially sanctioned online lottery and the only one of its kind in the country. The revenue created for the state from lottery sales has surged from just 1 % to over 20% now that it is played online. Players can play from their mobile phone and from computers all over India. Exclusively operated by Pan India Network Ltd., Playwin Lotto Games accepts bets from players nationwide, making Playwin unique among India's otherwise localized legal gaming activities and worth more than 50 billion ($1.12 billion USD) in annual revenues.
India also permits sites that operate rummy games and games of skill; however, which games legally fall into the "games of skill" category has not been specifically stated. The country has yet to introduce regulations for online casinos. With the IT Due Diligence Rules 2011, it seems that any content relating to online gambling is prohibited and access to such content may be blocked. Payment gateways for "gambling" websites are also blocked by the Reserve Bank of India, making it difficult to start online gambling operations.
Courtesy:- Legal Point Foundation

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