Online Gambling in India Surges: Nation Missing Out on $5 Billion Annually

Written by:
Jagajeet Chiba
Published on:
May/16/2012
Online Gambling in India Surges:  Nation Missing Out on $5 Billion Annually

The Times of India this week reported that India could be missing out on as much as $1.5 billion in lost tax revenue by not regulating online gambling.

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The paper cites an expanding middle class and increased Web access across the country.

According to the Times, Government officials seem to have little inclination to capitalize on such a lucrative market.

A recent study suggests that India’s online gambling market, if regulated, would be worth upwards of $5 billion.

The Times suggested that, by using current levels of taxation applied in markets where online gambling is legal - typically 15-30 per cent of operators' gross revenue – “it would mean the Indian revenue machinery is missing out on as much as $1.5 billion per year in potential tax revenue”.

- Jagajeet Chiba, Gambling911.com

 

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