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A Bonus Hunt: 5 Important iGaming Regulations That Every Indian Player Has To Know Gaming
Gutshot Editorial
Posted on 14 Mar, 2024
By Gutshot Editorial
On 14 Mar, 2024
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By Gutshot Editorial
On 14 Mar, 2024
Share

A Bonus Hunt: 5 Important iGaming Regulations That Every Indian Player Has To Know


Every day, we see new technology being implemented in the gaming industry, making it more interesting for players and giving an incentive for non-gamers to start exploring. At the same time, Gaming regulators are constantly making new policies and adjusting old ones to make sure that the interests of gamers are protected.

When it comes to the iGaming scene in India, one might argue that things are still very much experimental. However, we can’t take away the fact that regulators are always on their heels because bookies are always looking for a way to one-up every gamer on their platform.

 In this article, we will be reviewing some top 5 iGaming regulations that gamers in India should know. Even if you don’t reside in India, it’s also worth reading because these regulatory steps are quite similar in Asia, and the world in general.

The Legal Status of iGaming in India

The legal status of iGaming in India is quite funny, you can’t say it’s an illicit activity, or it’s completely legal. Meanwhile, it might interest you to know that some states keep their exclusive regulations on some forms of gambling, even though the majority of the states in India use the Public Gambling Act of 1867 for all their gambling laws.

Ultimately, it’s not enough for an online casino to just allow you to verify an account before you start playing, you’ve got to understand the legal nuances surrounding iGaming in your state so you don’t get into trouble with the law.

Licensing and Regulations

One of the easiest signs for spotting a regulated online casino is that they’re never ashamed to flaunt their licensing and Regulations. When you’re hunting for bonuses available on Indian gaming platforms, you always want to prioritize the platforms that are always showcasing their license. Specifically, you want to make sure the company is at least abiding by the laws set by the Bureau of Indian Affairs (BIA). Also, if you play a lot on foreign platforms that allow Indians, make sure that the company is being recognized by the likes of the Malta Gaming Authority (MGA), the United Kingdom Gambling Commission (UKGC), or the Curacao Gaming Control Board.


ALSO READ: How Do No Deposit Bonuses Work In Casinos?


Responsible Gaming and Anti-Money Laundering Measures

The last thing any gambler wants is a platform that can encourage their bad behaviour. Technology has made it possible for gamers to use tools like self-exclusion, deposit limit, reality checks and transaction history so that players can monitor their spending activity on a platform. However, it’s sad that not all platforms want to integrate this feature. Any bookie that does is rather seen as a reputable operator instead of such gestures just being industry standard. 

Also, whether you know it or not, when you play on a casino platform involved in money laundering, you’re indirectly an accomplice and you’re prosecutable by law. Then again, the story can also be twisted as users can also sign into a casino and use it to launder money. This is why all licensed casinos are advised to carry out identity verification procedures which will include Know Your Customer (KYC) checks and documentation requirements.

Age Regulation, Verification and Player Protection

In most states in India, you have to be at least 18 to be able to participate in online gambling. However, some selected few extend this threshold allowing only for people above 21. Even though each casino has its age rules in their terms of service, the rules by India’s government take precedence.  

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Taxation on Winnings

The current gambling laws in India recognize any form of gambling as taxable income. Whether it’s a game where you win by luck or by skill, you’re obligated to pay 30% of your winnings. More importantly, there is no threshold limit as to what can be owed as taxable income. You can find this rule in 194BA of the Income Tax Act on Online Gaming in India.

Final Takeout

As we continue to see the iGaming industry grow, it’s normal to see gaming regulators of every country adjust to meet the changing needs of their playing citizens. At the same time, these gamers have to learn the latest trends and licensing requirements for responsible gaming. If not, their gaming experience will be as challenging as walking in the dark.

Lastly, as a gambler, you want to also make sure you’re working with licensed operators so that you’re both in the right with the law and making positive contributions to the gaming environment in India. 

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