Must-know laws for every startup. Data protection from mobile apps to online gambling3 years ago Tata Teja
Casinos, just like any other business, are guided by lots of rules and regulations both in India and any other nation around the world. For instance, in India, there are specific regulations that govern the operation of online gambling and casinos in the country that one needs to know before they start a business in the industry.
While the Indian casino industry operates in a grey area, some legislation is vital and needs your attention if you decide to begin your startup company. Here is some of the information you need to understand for the smooth running of a gambling and gaming platform or business in India. More at online-gambling.com/india/.
Licensing of the Casino Business in India
Starting a gambling or casino business is not an easy task as you are required to obtain a gambling and casino gaming licensing from a variety of jurisdictions in India. As an individual who looks to have a startup in India in the gambling industry, you must obtain a gambling license from one or more of the following jurisdictions.
- Curacao eGaming Authority: this is a jurisdiction that has provided gaming licensing since 1996 for almost all the casino startups and companies in India. The body also includes information compliance services to the startups who meet the required qualifications. As one of the oldest gambling and gaming licensing bodies, this jurisdiction has a great experience and has been considered one of the best in licensing the startups in the gambling and casino industry.
- Malta Gaming Authority: This is a single regulatory body that takes responsibility for almost all the gambling and gaming activities in India and in Malta. As a person who looks to begin a startup in the casino industry, Malta’s license is one of the best bets.
- Alderney Gambling Control Commission: This jurisdiction or licensing body was established in 2000 and operated within India’s Guernsey taxation laws and everywhere else. The licensing authority takes advantage of the contemporary hosting facilities and the reliable telecommunication network in India. It is also a licensing body on which you can count when starting a casino business in India.
- Isle of Man: this is among the jurisdictions that introduced legislation in 2001 to encourage online gambling and gaming business in India and around the globe. It ensures fairness in gaming and gambling and protects the players against any incredibility and legitimacy of the casino businesses.
- Gibraltar Regulatory Authority: This is a jurisdiction responsible for setting online gambling and gaming legislation for companies that need to operate in the industry both in Gibraltar and in India and many other nations. It protects the players for any breach of information and money on the casino platforms. You need to obtain licensing from any of these jurisdictions before starting a casino business in India.
Gambling Laws in the Indian Gambling Industry
Besides obtaining a gambling license from the jurisdictions mentioned above in India to operate a startup business, you also need to understand the gambling laws around the casino industry. In India, almost all the provinces have distinct gambling laws with which they adhere.
Therefore, you will understand the requirements of the area within which you want to establish the business. You must follow the specific laws that govern particular province interns of gambling or casino business operations.
Nevertheless, the country has centralized acts to guide them in the formation of the gambling law. Thus, you can adhere to the Acts to be on the right side of the law as always as a gambling industry operator. Here are some of the centralized acts and laws that you need to know.
- The public gambling act of 1867
- The payment and settlement act of 2007
Other than these two major acts, all the other provinces have their actions to borrow from these two acts, including.
- Uttar Pradesh public gambling act of 1961
- West Bengal gambling rules of 1958
- The Delhi public gambling act of 1955
Fines for Breaking the Gambling Laws in India
When you hear that there are laws that govern gambling and casino business operations in India, do not think that they are merely placed for fun. There are many huge fines that the breakage of these laws attracts on the casino business operators and even the gamblers themselves. Some of the significant penalties include.
- 200 Rupee or Three Months Jail Term: this is a punishment or a fine that is given to anybody found guilty of breaking the gambling laws as contained in the public gambling act of 1867.
- 100 Rupee or One Month in Jail: this is a fine issued to a person who breaks the public gambling act by visiting gambling houses.
The Bottom Line
In India, gambling is a lucrative business, particularly the online casino. However, there are strict rules with which you need to adhere before you think of straining the business or even operating in the gambling industry. These laws are confusing since every province has its own laws. Therefore, it is an excellent strategy to understand your particular province of operation’s specific rules and the repercussions that come with their breakage.