Sports Betting & Gaming Conference appears for the first time on the Indian scene, scheduled to take place on 27th to 28th February 2018 at Goa Marriott Resort & Spa, aiming to outline clear gambling-related rules by loosening the betting restrictions for the sake of the economy.
As one of the most densely populated country, India has the potential to develop a fruitful gambling market, which will boost to a great extent its economy. Up to now, gambling practice in India is governed by blurred legislations, which is a good precondition for the occurrence of illicit practices. The only form of gambling, which is allowed currently in the country is lottery and horse racing. It is reported that the black gambling market in India is flourishing due to the unclear and unfair laws.
The lack of exact laws made authorities look back on the matter and re-consider their decision. The first step of the “awakening” process is the Sports Betting & Gaming India Conference (SBGI), organized by Eventus International. The event is planned for the beginning of the next year and it will discuss the social aspect and the economic benefits from having a well-defined and more liberal casino market.
India is the second most populated country and this outlines a good perspective for establishing a thriving gaming industry. In that way, the government will be able to tax the casino suppliers, which will prop up the country’s budget.
Furthermore, India provides a good environment for developing the gaming industry, having in mind that a great percentage of the Indian population is “equipped” with modern technologies. On top of all, it was reported that for the present year, the main entertainment for the people appears to be games and sports. Hence, it is a mistake to underestimate the bright future of the casino market in India.
The Economic Times even estimated that the country will attract 310 million online players in less than 5 years in case the country manages to establish clear laws. Thus, it is high time for the country to deploy its potential and benefit from it. The conference will discuss namely the different opportunities for establishing accurate laws, which liberalize the gaming industry in India.
Yudi Soetjiptadi, the Managing Director at Eventus International places hopes that the conference will serve as the crossing point between the country’s government, regulatory body and the gaming industry, uniting them to find the best solution to reveal the potential of establishing a thriving gaming market in India.
The adequate law-making decisions will help the country to find its feet and weed out the illegal practices. In that way, India will stop pouring money from taxes down the drain and please its population needs.