Gambling in a simple term can be stated as a medium through which people take risks of either winning or losing, the medium can be betting, lottery, competitions and it includes many more such mediums. Gambling has two sides, people risking their money and possessions in-order to win some money back, while some people do win but some people don’t. Gambling can be an addiction, there are stories of people who have turned from rags to riches through gambling, but there are also stories where people have gone rags from riches because of gambling. The process of gambling is quite simple, people invest their money on various games, websites, lotteries in-order to win some percentage back along with their invested money.
However, if a person fails to win, he/she has to lose their invested money, usually the people who have lost their money are the ones most addicted to gambling. But why do these people still gamble when they have already lost their initial money? It’s their brain playing in-order to at least recover their initial capital rather than earning more profit and winning.
India’s gambling market
- Kids, teenagers are at a higher risk of getting involved in such activities if they aren’t educated properly.
- The Indian gambling market is estimated to be $60 billion per year, with half of the percentage indulged in illegal gambling platforms.
There are various online platforms like bandarqq, games and applications through which youngsters invest their money and bet against matches and games to invest a percentage of the winnings back. While there are no central strict laws against gambling. States have set their own respective laws and regulations, many applications like Dream 11, Paytm First Games are some of the applications which allows people to invest and bet for games.
However, these applications aren’t accessible in certain states as these states do not permit their activities and it’s also a great measure to prevent the citizens from indulging in such type of activities. The gambling market is quite big and in Goa alone, the casinos generate INR 100 crores in tax revenue for the state, why would a state ban such activities when they are being benefited from those activities.