Online gambling is essentially gambling on the online platform through the usage of internet. Gambling means one’s money is in sheer jeopardy by being willing to pool in money, which is also based on several contingencies. This includes bingo, casinos, horse races as well as quintessential sports. Though this practice is restricted or even banned in most countries including India, it still is prevalent in most western countries of the UK and Europe and even in the United States. In India, it is absolutely illicit carrying out such activities either online or in person.
History of gambling
The roots of gambling cannot be traced back to any century, but what one can understand is that gambling is addictive and many have succumbed to its adversities. The central and state governments have devised several plans to curb its dominance but to no avail. When one gains the other loses and so on. Thus, this comes a full circle, where all will have to go through the rough as well as the purple patches.
Game of chance:
Since, gambling is a game of chance and not a game of skill it is explicitly banned in India and its regulation becomes a difficult task as well. This step has been considered, taking into account that gambling amounts to fraud, crime and money laundering. Though few states i.e. union territories which include Goa and Daman have embraced online gambling, it is opposed by the majority of states. If gambling requires skill or knowledge, it is not necessarily illegal, but if it involves luck or chance it is very much illicit.
Gambling in itself is a big pro and a con, but let’s see what are its pros and cons.
-Gambling is a form of entertainment and enjoyment.
-Online gambling is a handy tool which makes it convenient and comfortable to indulge at the comfort of our home.
-One is for sure guaranteed of privacy and anonymity without the fear of being tracked and traced.
-These come with early registration bonuses and rewards.
-Abroad casinos are not highly trustworthy making them highly vulnerable.
-It is relatively high in prize money, making it all the more addicting.
-Cross border transfer of funds may take time. Countries are often sluggish when it comes to settlement of funds in time.
-There are several hidden charges and fees which go unnoticed time and again.
My conclusion is that online gambling is still hanging by a thread, having several leaks which the government has to plug. It is addictive and could run wild in one’s life with the people on the edge of a knife. There are several highly rated betting sites that can be preferred for betting.