Krida Legal- Assuring empowerment on gambling laws

Be it the IPL Matches or any other international cricket matches betting is being practiced but often in hiding.  Huge amounts are won and lost, yet the financial accountability of the same can never be scrutinized by the government. This leads a huge amount of black money circulating in the national as well as international circuits. In the year 1867, the Public Gambling Act was enforced in our country and it governed the gambling and betting activities in India. These were specified in the Constitution of India and were adopted once the constitution came into force. The Seventh Schedule, List II (State List) of the constitution provides the state government with the power to create laws related to gambling and betting activities for their respective states which has also been enlisted under Entry 62 of the State List as elaborated by Krida Legal which helps safeguarding Gambling Laws India.

Different state laws have been enacted for better handling of gambling and betting activities such as the West Bengal Gambling and Prize Competition Act, 1957, Bombay Prevention of Gambling Act, 1887, Punjab Public Gambling Act, 1961, Kerala Gambling Act, 1960, Goa, Daman and Diu Public Gambling Act, 1976 etc. including states such as Various states such as Goa and Sikkim where gambling and betting have been legalized at licensed five-star hotels with valid approval and authorization of the state government. Recurring fee of a certain amount needs to be paid regularly to extend the license validity each year.

Due to lack of direct regulation of the online gambling activities under various other laws such as cyber laws, internet intermediary compliances, cyber law under the Information Technology Act, 2000 has hindered the legal empowerment and regulating of this industry. Despite a huge untapped potential for earning high revenue and widespread popularity of gambling widespread and huge market for the betting industry in India, the Gambling Laws India have been ignoring the plight of the gaming industry. There is also an atmosphere of fear created due to ambiguities in the law that hinders the growth of the gaming industry at large.
Visit KRIDA LEGAL online at http://www.kridalegal.com/ to procure legal guidance on the various Gambling Laws in country to empower your gaming business.


SOURCE URL: https://medium.com/@kridalegal/krida-legal-assuring-empowerment-on-gambling-laws-dbceaf535d13

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