Bitcoin Gambling in India
The development of cryptocurrencies and especially Bitcoin fueled crypto gambling in India. When we talk about India and its approach to crypto gambling there are several important moments worth attention. Bitcoin gambling in India is considered legal but only in a few states. These states are Goa, Sikkim, Daman, Kerala.
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In every other state, all kinds of gambling, be they offline or online are completely illegal.
Furthermore, the 4 states that allow gambling, usually operate resort casinos, which means they’re brick and mortar. Finding a casino that is approved in India is pretty hard. They are mostly offshore companies.
Specific states in India have the right to introduce new rules into their gambling regulations. Today, the country has a law on public gambling, adopted in 1857, which was based on the legislation on gambling from 1845 and the law on betting from 1853. Gambling venues are subject to fines if we do not take into account online Bitcoin casinos in India in 4 states. Visiting them is prohibited and is punishable by a fine of 100 pounds or imprisonment for up to one month. In Indian law, gambling is classified as a game of chance as well as a game of odds.
Notably, there are no such things as “gambling” and “betting”. In this regard, the law was left to the judges, who never brought the case to an end, leaving everything as it is.
The online gambling industry is not much more developed than the terrestrial sector. There were prerequisites for the creation of three licenses for online casinos in Sikkim in 2010. The activities of offshore gambling companies are allowed only on the condition that the local currency – the rupee – is used for cash transactions in online casinos.
As in many other countries, there is a shadow market. Some experts argue that the legalization of gambling will quickly bring it out of the shadows.
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