Indian Real Money Games – Tail Nadu was the third south Indian state to ban the gases, after Telangana and Andhra Pradesh, and Karnataka is considering a similar move. The existence of conflicting regulations in Indian states has confused companies and investors.
Bangalore|ubai: Startups gambling for real money online in the ruy, poker and fantasy space are facing an increasingly challenging regulatory environment, with Indian states banning or shutting down their operations due to concerns about gambling addiction and loss of revenue.
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After the Adras High Court refused to lift the Tail Nadu ban earlier this week, the sector’s impressive run of growth could slow down. Tail Nadu was the third south Indian state to ban the gases, after Telangana and Andhra Pradesh, and Karnataka is considering a similar move.
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“The financial impact of the ban on Tail Nadu will be significant … a double-digit impact on market share,” said Saeer Barde, CEO of The Online Ruy Federation, which represents companies including RuyCircle, Ace2Three, Payt First. Gaes and Obile First League. “We are open to talks with the government. But since the ban was introduced, there have been no active discussions.”
According to KPG, the market for online fantasy sports (OFS) was estimated at 2300-2700 crore rupees, while for non-fantasy real money games like ruy and poker it was 2500 crore rupees and 2500 crores respectively. 3,000 crore rupees in the previous fiscal year. The number of OFS players is close to 100 million, and the number of real money players is 30-40 million.
“The recent ban on online gaming in Tail Nadu and similar talks taking place in other states will of course affect the gaming ecosystem in India,” said Ait Buran, promoter of ind Sports League, which owns the Poker Sports League. “What we really need is a centralized regulatory framework.”
Gambling in India is regulated by states that rely on games of skill and consider gambling. The difference is whether the outcome is determined by mental or physical skill, or by chance or luck.
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However, each state can decide which games are considered games of skill and which games are games of chance. The existence of conflicting regulations in Indian states has confused companies and investors.
“Instead of banning online gambling, state governments should come up with a regulatory framework… Regulating this nascent sector can spur investment trends in states, create jobs and contribute economically,” said Roland Landers, executive director of the All India Gaining Federation.
Rajeev Suri, managing partner at Orios Venture Partners, said online gambling companies have had phenomenal success during the Covid-19 lockdown, but if the regulatory backlog continues, they will be more likely to leave from here to other sectors.
“There is a coin to be won. If the government puts its ‘tang’ (foot) in and self-regulation is unable to control the excesses, there is a mineral risk,” he said. Orios has invested in online gambling app Zupee and is evaluating other betting companies.
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Nikhil Narendran, partner at Trilegal, said the government’s role should be limited to controlling online real money gambling to the extent that it does not become a public policy and social problem. However, the Government takes a verbal stance, which creates unsafe spaces for gables, he said.
“India’s gambling industry is in its infancy, where it needs to be nurtured with carefully crafted legislation that promotes growth and investment while protecting the interests of customers,” Kaushik oitra, Legal Partner of Bharucha ≈ partners. A balance must be found between social and commercial interests.
Soe copanies told ET that the ban is absurd considering that anywhere in South India offline or physical ruy is very popular and it is only banned online. They said there is a lack of consensus within the industry itself, which needs to unite on this issue.
“If you ask an online fantasy sports co-pay, they will tell you that fantasy sports is a game of skill, while other real money games like poker and ruy are not. Similarly, a poker company will say that fantasy is the closest thing to gambling and therefore a game of chance, but poker requires skill,” said a founder of one of the affected companies on condition of anonymity.
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When it comes to online gambling, Indian players have no shortage of options. But which online casinos in India are the best?
Our team of experts makes sure you come in armed with the knowledge you need. We have played at the best online casinos in India and will share what we have learned with you using our benchmarks such as casino games, bonuses, design and banking.
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Our pick for the best online casino in India is Spin Casino, which includes a generous welcome bonus of Rs 100,000 and an extensive library that is sure to have something for every type of gambler.
What’s in a name? In the case of Spin Casino, a lot. Their strong focus on slot action is evident right out of the box with 375 slots to choose from. It’s not the biggest choice on the list, but it’s certainly up there.
However, fans of other classic casino games should not be disheartened as you can also find plenty of other games here – blackjack, poker and craps to name a few.
Spin Casino’s $100,000 welcome bonus is an attractive number and definitely a worthwhile incentive to open an account there. Three deposits are required to activate the full amount, but it is useful for anyone looking to increase their bankroll to check out the casino.
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This is a bit of a head scratcher. While Spin Casino generally looks relatively clean and smart, there’s no search bar here, which isn’t ideal. Games load fine though, and general menu navigation is fine.
At Spin Casino you can choose from 5 payout options, although there are 8 deposit methods. For whatever reason, Skrill is available as a payment method but not a withdrawal method, which is a bit strange. However, withdrawals back to the card are available, which is one of the most popular payment methods.
Just behind Spin Casino is PlayOJO, which offers a strong slot focus that is sure to please those looking for sweet action.
There are more than 3,000 games available on PlayOJO, which is one of the largest libraries on the list. This creates a level of choice that you will find hard to find anywhere else in India.
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It’s not just about slot action, although that’s PlayOJO’s main focus. You can also find a large selection of classic table games such as blackjack, roulette and even poker.
The best things in life are free: a sentiment so true that the PlayOJO welcome bonus is focused on it.
All you have to do is make your first deposit and PlayOJO will match it up to 50 free spins. All winnings from spins are yours. There are no catches. No wagering requirements. You can withdraw them immediately in cash. I can’t say much fairer than that.
The flashy colors and wacky themes in PlayOJO aren’t for everyone, but hey, at least it’s original. Many online casino sites in India follow bland templates that are boring and uninspiring, and while this doesn’t change anything significant, it degrades the overall user experience.
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Even with so many games, you won’t easily get lost in PlayOJO. The search bar is front and center as soon as you log in, and all game categories are clearly marked above it. One thing that bothered us a little after long periods of play was how quickly the session would time out and disconnect us, but that’s a minor gripe compared to all the good things.
There is a comprehensive list of payment methods on PlayOJO, providing a wide variety of ways to fund your account and withdraw money. Featured are PayPal and Skrill, two e-wallet giants that make online transactions at Indian casinos a breeze.
Royal Panda is third on our list, with a dominant casino experience with jackpots and a huge collection of games for non-stop play.
With 3000 different games available to play, Royal Panda has one of the strongest libraries for Indian players to enjoy. Slots make up the bulk of what’s available, including some fantastic Megaways specials featuring hefty prizes up for grabs.
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Of course, you can also find various other classic casino games here. Blackjack players have many variants to play, and roulette fans will not be short of games either.
Sports fans can also find a sportsbook at Royal Vegas, although they shouldn’t expect much. It’s largely a sideline to the casino’s main event.
Royal Panda 5% reload bonus definitely is
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