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Obviously Dave recommends investing in mutual funds that focus on companies outside of the US. The anti-martingale approach instead increases bets after wins, while reducing them after a loss. In the figure was Our reviews and guides are used by more than , players worldwide every year. Taxation issues like service tax, sales tax, etc have also started surfacing in India.
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There is no straight forward answer to this complex question. The truth is that opening of an online poker website and playing online poker in India may be both legal and illegal depending upon the facts and circumstances of each case.
There are no dedicated online poker laws and regulations in India. However, online poker activities are governed by multiple laws of India and all of them need to be duly complied with to run a legal online poker activity.
This is partly due to lack of awareness and partially due to indifference of Indian government to bring suitable policy reforms in this field. The laws and regulations for online gambling and online gaming in India are scattered under different statutes. Similarly, the laws pertaining to online poker are also scattered under different legislations.
We believe that opening of a legally sustainable and legal online poker website in India is a continuous process. One cannot simply start a website and offer online poker games in India.
The ultimate test of legality of an online poker website in India is whether it is complying with different applicable laws of India.
This, unfortunately, is not happening presently and like Bitcoins the online poker websites may found themselves on the wrong side of law very soon. There is also a general confusion regarding online gaming and online gambling regulatory requirements in India.
Online gambling laws in India are totally different from online gaming laws of India. Further, online betting laws in India are also differently applicable to different situations. India is also contemplating formulating anti match fixing laws to prevent illegal online betting and match fixing in various games. Similarly, lottery laws in India are different and they apply differently in different states of India.
One state may refuse to allow sale of lotteries of a different state in its jurisdiction. Since online gambling essentially involves use of information and communication technology ICT , conflict if laws are bound to arise. An online gambling or online poker website may be legal in one country but it may be illegal in another country like India.
Any entrepreneur who wishes to explore multiple markets around the world must keep in mind the conflict of laws aspect of online gaming industry. The online poker laws in India have also evoked much interest from both national and international stakeholders and entrepreneurs. Few of them have even considered using Bitcoins for online gambling and online gaming purposes.
However, it is of utmost importance that an online poker website in India must be legally opened and managed in a lawful manner from time to time. There are very specific legal requirements regarding opening a legal online poker website in India.
The online gaming market of India is fast booming but regulatory compliances are still to be adhered to. For instance, compliances in the field of encryption , cloud computing , cyber law due diligence PDF , Internet intermediary obligations , payment gateways , mobile applications development , online gaming websites development , etc are still not taken care of by various online gaming and online gambling websites and entrepreneurs.
Recently, the Mumbai Crime Branch busted an online gambling network spreading across India. Ignoring the techno legal requirements for establishing online gambling and online gaming business and website in India could prove fatal in the long run.
Perry4Law strongly recommends that online gaming and online gambling entrepreneurs must duly comply with techno legal compliances before launching their project and website. Online poker is passing through an interesting phase in Unites States U. However, it is still to be seen whether online poker would be banned or allowed in U. New Jersey has reported a good beginning for online gambling within the state. On the down side, Merge Gaming suspended online poker accounts in New Jersey and Delaware for security reasons.
Now it has been reported that Delaware Gov. Jack Markell and Nevada Gov. The governors described the agreement as the first of its kind and said they hoped other states, like New Jersey would join. The technology is not yet developed, so it will take some time for multistate online poker to be up and running, the governors said.
A bigger pool of players will be more attractive to potential players, Markell said. People would need to be physically present in either state to participate, no matter where they live, the governors said. The online gambling and betting laws in India are also changing. Many stakeholders have approached Perry4Law so that they can establish online poker and online rummy website by remaining on the right side of the laws. We need dedicated online gambling laws in India that can clearly demarcate the rights and obligations of various stakeholders in this regard.
However, till then the stakeholders must keep in mind various applicable laws of India especially the cyber law due diligence requirements PDF. Online gaming industry in India heading towards a big success.
Amazon is also targeting home entertainment segment and in order to do so it has bought videogame studio Double Helix Games. This shows the seriousness of technology companies to explore the online gaming industry of India.
However, along with the commercial challenges, techno legal regulatory compliances would also be required to be fulfilled by various online gaming entrepreneurs in India. This is more so regarding the legal issues of e-commerce in India that are grossly ignored by various stakeholders in India. Indian laws have prescribed stringent punishment for mobile application developers , websites developers , mobile payment service providers , etc.
As per the Information Technology Act, the Indian and foreign online gaming companies and gaming providers in India are Internet intermediaries and they are required to comply with cyber law due diligence requirements PDF as well. Even technology companies have started taking note of these laws.
Similarly, Apple removed Blockchain application from its app store due to legal concerns pertaining to Bitcoins across the world. This would raise many techno legal issues as use of Bitcoins and Bitcoins exchanges in India is full of legal risks. The taxation liability of online games in India is also maturing. However, the term localisation is not confined to mere commercial aspects but it covers legal issues as well. This means that local laws are also required to be complied with by Indian and foreign online gaming service providers.
Thus, online gaming market in India is booming but regulatory compliances cannot be ignored by online games providers. This is more so if these games providers are contemplating seeking foreign investments in Indian ventures as cyber law due diligence for foreign investors would be the norm in India in near future.
Entertainment and media industry is fast growing world over. The growth and challenges of entertainment and media industry of India have already been outlined by Perry4Law in its research report. We have also outlined the legal issues that entertainment and media industry of India would be facing in the near future. India is also witnessing a growing interest in online gaming segment that is full of legal risks and compliance requirements.
Some have indicated that this may be an attempt of Amazon to release its own console for home entertainment. Amazon has not yet disclosed financial terms of the deal.
Speculation in gaming industry circles for several months has suggested that Amazon is preparing its own game console, possibly using Android operating system. Microsoft and Sony in November hit the market with new generation consoles, Xbox One and PlayStation 4 respectively, in a battle to be at the heart of digital home entertainment in the internet age. For Indian e-gaming and e-sports market, companies like Amazon, Microsoft and Sony have to do much more than putting in place appropriate hardware and software.
Though we have no dedicated e-sports and e-gaming laws and regulations in India yet we have provisions under different laws that govern and regulate e-gaming and e-sports related tournaments and activities in India. Online poker industry in India is passing through a stage of transformation.
The online poker website owners and entrepreneurs are still considering the legality of playing online poker and opening online poker websites in India.
Even the liability of websites developers and managers of online poker websites has been outlined in India. Nevertheless, the online poker websites in India are heading towards legal troubles as they are not complying with Indian laws. Use of Bitcoins by online poker websites and other stakeholders has further raised the legal bars.
When even the Bitcoin exchanges of India are under regulatory scanner, individual online poker websites experiment with Bitcoins is really risky. Even Apple has removed Blockchain application from its app store to ensure compliances with laws of different jurisdictions, including India. As more and more foreign companies aim at exploring Indian markets, they have started paying attention to Indian laws. Indian courts are presently analysing whether Google is liable to pay tax in India or not?
The issues pertaining to income tax liability of websites like Google, Facebook, Twitter , etc would also arise in India in near future. The online poker websites and their players are also required to comply with Indian income tax and other tax related laws.
For the purposes of computing taxes under Indian laws, there is no difference between a legal and an illegal income. Thus even illegal betting and gambling winnings would be liable to be taxed under Indian laws.
The distinction of skills versus change is irrelevant to decide the liability if tax under Indian laws. However since gambling does not figure in the DTAA, it may be taxed in many countries. Thus, not only the online poker websites must be legally running in India but they must also be in strict compliance with Indian income tax laws. Ignoring the internet intermediary liability and cyber law due diligence PDF by online poker entrepreneurs in India can be legally fatal. There only one or two online poker websites in India that are complying with these legal requirements.
The online poker websites are also required to ensure that their payment gateways are duly approved by the Reserve Bank of India RBI. Cyber due diligence for Paypal and online payment transferors in India must also be ensured. How many online poker websites are following these regulatory requirements is still to be tested by various authorities of India.
A few days before we covered a story titled will online poker be banned or allowed in the United States of America? The article covered the contemporary online gaming and gambling environment prevalent in U. Some states in U. A good start for internet and online gambling in New Jersey has already been reported.
However, online gaming enthusiastics in U. This is a scary situation that has been created due to inadequate and improper online gaming and gambling laws in various states across the U. It is claimed that Merge Gaming is complying with the legislation that was introduced to regulate online poker in New Jersey and Delaware, which explicitly prohibits the operation of an unregulated online gambling site.
Recently, ISPs in United Kingdom refused to display warning pages for unregulated online gambling websites. However, stakeholders in U. On the other hand, the Indian online gaming industry is maturing and it is even legal to play online poker in India if proper laws and regulations have been complied with. Even Cubeia is exploring Indian online gaming market with additional payment options. For instance, Cubeia would support Bitcoins for its business to business poker network and it may explore this possibility in India as well.
A new trend in the field of online gaming and gambling industry is to accept Bitcoins as an addition payment mechanism. However, the legality of Bitcoins is still not clear in many jurisdictions. Even the Bitcoin exchanges and Bitcoins websites operating in India must comply with Indian laws to be legal. International online gaming enthusiastics and entrepreneurs must explore Indian markets for their legal playing pleasures and ventures.
Online gambling legal environment in the United Kingdom U. The warning pages would act to alert users to the unlicensed nature of the site they are accessing, much as warnings are enforced on sites with pornographic content which advise users of illicit images.
To give effect to their intention, the Gambling Commission that regulates commercial gambling in the U. However, the ISPs refused to cooperate and have insisted on a court order or primary legislation to enact the move before they will take any action. This is natural as well as due to conflict of laws in online gambling field.
While the Commission may have jurisdiction over commercial gambling within the UK, they have no authority over sites being operated overseas which can be accessed by UK punters, and can therefore offer little protection to residents in Britain. The stumbling blocks that the Commission is tripping over just adds further evidence to the difficulty faced by governments when trying to regulate the Internet, as local laws and regulations are frequently unenforceable in relation to offshore companies, which also realise they can often get away with noncompliance.
Many states of the United States are exploring the option of allowing playing online poker within their jurisdictions. Some of them have already started allowing the same. For instance, a good start for Internet and online gambling in New Jersey has already taken place. However, there are some aberrations as well when it comes to allowing use of Bitcoins for gaming and gambling in U.
It has been reported that two Las Vegas casinos would start accepting virtual currency known as Bitcoins. However, this is a tricky situation as use of Bitcoins is legally risky in many jurisdictions including India. Even Bitcoins exchanges in India have been facing legal actions in many cases. For the time being, there seems to be no clarity regarding playing of online gaming an online gambling in U.
This is more so when Bitcoins are used for such playing. The Poker News Daily has reported that though Americans are free to play online poker in three states yet efforts in the direction of legalising and regulating online poker are also on rise.
In fact, a letter has been sent to state Attorneys General calling for an outright ban on online poker. The letter is divided into two parts. The Attorneys General also want the federal government to ban online gambling in the three states — Delaware, Nevada, and New Jersey — that have already legalised and regulated it. That letter asks Congress to make online gambling, including poker, illegal. In December , the U. The Department said that the Wire Act outlawed only online sports betting, not all online gambling.
It seems the issue is not going to die very soon just like in India. The legality of online poker in India is still not clear and it is a grey area. Any entrepreneur who wishes to start an online poker business in India has to comply with Indian laws to the best possible extent. Otherwise, he may find himself on the wrong side of the law. Recently the State of New Jersey allowed playing of online gambling within the State.
The first week of online gambling in New Jersey has been reported to be successful and casino regulators are relieved with this positive development. It has been reported that during the week 37, accounts had been set up, enabling people to win or lose money on card games, table games and slots, all from computers or smartphones.
It is designed to bring new money to Atlantic City, whose 12 casinos have been struggling with increasing competition from casinos in neighboring states.
The Golden Nugget Atlantic City is expected to join them within a week. That means only one in 10 users will wrongly get an error message saying they are not in New Jersey, even though they are. That is 25 percent below the level of false negatives Nevada experienced when it launched online gambling earlier this year, she said.
Before the launch, several technology providers said they deliberately set their electronic fences back an unspecified distance from the border to guard against someone in New York or Pennsylvania being able to gamble in New Jersey. The biggest problem now facing would-be online gamblers is funding their accounts. Credit card companies are uneven in their approval rates of transactions into gambling accounts, with MasterCard approving nearly eight times the amount Visa was during the first week, regulators said.
Direct bank transfers were the most successful means to fund accounts in the early going, they said. Online gaming and gambling is witnessing a regulatory overhaul world over.
While some countries like Singapore plans to ban online gaming and enact laws against online gaming by remote companies yet other countries like United Kingdom are working in the direction of allowing such activities.
The Bill was introduced into the House of Commons on 9 May The Bill makes provision about the licensing and advertising of gambling. The Gambling Licensing and Advertising Bill would amend the Act so that all remote gambling operators would be required to obtain a licence from the Gambling Commission to enable them to transact with British customers and advertise in Britain.
The Bill requires all offshore online gambling operators with customers in the UK to hold licences and pay taxes. Online Casinos has reported that Helen Grant, the U.
As the legislation proceeds to the House of Lords it is very likely the bill will be passed and become law. The law is expected to come into effect by the spring of The Minister also said she thinks this legislation will be a benefit to gambling customers in the UK due to a strict new set of guidelines and licensing requirements for online gambling firms from offshore.
According to Poker Update an aspect of the Bill that has gained widespread coverage is the point of consumption tax that would be introduced should the Bill be enacted into law. The current point of consumption tax on Gross Gaming Revenues in the UK stands at 15 percent and would be the tax imposed on companies which are affected by this bill.
The tax has attracted criticism from some sections of the online gaming industry, especially from Gibraltar, which is the base of a number of gaming companies due to its low taxes and low business costs. Such companies and industries may be adversely affected by the bill, especially if it means paying more taxes and other costs associated with being licenced to operate in the UK. While that could end up being the case, the bill does somewhat legitimize online poker and gaming and shows that the UK government recognises that many of its people engage in it.
Online gaming and gambling industry is witnessing a transformation stage these days. Traditionally various nations have adopted a zero tolerance towards online games and gambling and the laws of most of the nations prohibit online gambling. However, online gaming and gambling is a potential source of revenue and many small nations are primarily depending upon the revenue generated through online gaming and gambling for their continued growth.
However, online gambling is still frowned in many jurisdictions. For instance, Singapore is contemplating banning of online games by local as well as distance online game service providers. This was made clear by the Second Minister for Home Affairs S Iswaran as he informed that the Singaporean government was concerned about the potential negative effects they believed online gaming had on those who engaged in the activity.
While he did not give particular examples of that occurring in Singapore, the minister did point out that online gaming had been rising in popularity in the Southeast Asian city-state in recent years. The increasing prevalence of online gaming in the country led Iswaran to state that the government has aimed to put forward laws against online gaming by remote companies.
However, the intention to introduce them is not such a major surprise. That history of tight control on gaming is what makes the latest aims toward banning online gaming unsurprising. Bitcoins are gaining worldwide acceptance among the digital communities and netizens. They are also becoming an acceptable mode of payment among the e-commerce, online gaming and online gambling industry.
Many enthusiastics in India has started accepting Bitcoins for various purposes without realising that use of such Bitcoins in India may be illegal and punishable.
Thus private individuals or companies cannot issue bank notes or coins unless authorised by the Central government or RBI. However, till now neither the Central Government nor the RBI has authorised any person or institution to issues, use, generate, mint or mine Bitcoins in India. RBI has not yet formulated regulations to govern trading or profits generated from Bitcoins. RBI does not consider Bitcoin legal tender and, therefore trading in Bitcoin is not legal. Obviously, there cannot be regulations from RBI for an illegal activity.
People who use it, do so at their own risk and responsibility. Regulators are studying the impact of online payment options and virtual currencies to determine potential risks associated with them. Some guidance can be obtained from the Indian virtual currency schemed issued by RBI. However, Bitcoins, their functionality and legality of use in India is still a grey area. RBI believes that the unregulated link between virtual currency if permitted , and traditional currency with a legal tender status poses challenges as the complete control over the differently denominated virtual currency is given to its issuer, who governs the scheme and manages the supply of money at will.
Under some category of virtual currency schemes which provide for bidirectional flows, it acts like any other convertible currency, with two exchange rates buy and sell. In such schemes, the virtual currency can be used to buy not only the virtual goods and services, but also to purchase real goods and services.
Virtual currency schemes are different from electronic money schemes as the virtual currency being used as the unit of account has no physical counterpart with legal tender status. A virtual currency scheme may also be designed to compete with traditional currencies used for international trade.
The absence of a distinct legal framework implies that the traditional rules under financial sector regulation and supervision, including the institution of central banks, are not involved in the case of virtual currency. RBI has also prescribed that only banks which have been permitted to provide Mobile Banking Transactions by it shall be permitted to launch mobile based prepaid payment instruments mobile wallets and mobile accounts.
Gambling laws in India are outdated and colonial in nature. They have been drafted many decades before and they need urgent rejuvenation keeping in mind the growing use of information and communication technology ICT. For instance, when gambling laws of India were drafted, the lawmakers of India could not foresee the possible advent of online gambling in India. As on date we have no dedicated online gambling laws in India.
The online gaming and betting laws and regulations in India are still in a nebulous state and in most cases it is illegal to indulge in online gaming and betting. The recent match fixing scandal has opened the eyes of Indian government and it has decided to pass a law to curb such evil practices through a law. The same may be introduced in the monsoon session of the Indian parliament.
While doing so the Indian government must not miss the chance to regulate online gambling and betting in India as well. Presently many websites have been offering online gambling facilities in clear disregard of the Indian laws. There is an urgent need to clarify the legal position in this regard. In fact, the law ministry has already started working on the proposed law and a dedicated team has been asked to look into every detail.
As the head of these gambling rackets are located outside India, essential provisions in this regard must be incorporated in the proposed law. There is also an urgent need to regulate e-commerce websites that are indulging in online gambling. In fact, the e-commerce websites in India must be regulated by Indian government whether they belong to online gambling or other e-commerce activities.
Only time would tell about the seriousness of the efforts of Indian government to curb the menace of gambling and betting in India. Running online businesses in India require compliance with e-commerce laws and regulations of India. There are many techno legal issues of online business in India that must be complied with before an online store or platform is opened.
The exact nature of such legal compliances depends upon the nature of online business. Surprisingly, the e-commerce compliances in India are really bad and Indian government and various regulatory bodies have not taken any action in this regard so far. For example, cyber law due diligence , Internet intermediary liability and cyber due diligence for Indian companies are some of the compulsory legal issues that have been ignored by almost all e-commerce players of India.
These e-commerce portals are not at all complying with the respective laws of these segments. Even the Indian government is lax in implementing the regulatory and compliance requirements against these illegal online pharmacies , gambling portals and other similar e-commerce platforms. In this entire mess a question that requires urgent answer is whether online gambling and betting is legal in India? According to Perry4Law, the golden rule for deciding whether online gambling in India is legal or not has to be judged by many factors that depends upon the facts and circumstances of each case and upon state to state.
There are many states in India where gambling is legal and few where even online gambling and betting is legal. However, there are some states like Mumbai where online gambling is expressly prohibited and made a punishable offense. So it depends upon the state where you wish to carry the online gambling and betting business. Then there is the rule of skills versus chance as laid down by the courts of India.
As a general rule, where the game involves application of skill on the part of the player and the element of chance is minimal, the activity would be considered to be a game and not an act of gambling. However, the applicability of this test of skill versus chance may not be applicable to online or Internet games, betting and gambling as various judicial decisions pertaining to different sets of facts and circumstances and can be distinguished easily in subsequent litigations.
Finally, economic and taxation legislations like tax laws of India, anti money laundering laws, etc are also involved while operating online casinos, online gambling and betting and online gamming platforms. The provisions of these economic legislations are very stringent in nature and can cause great detriment to the owner or operator of the online casino, gambling and betting website.
Perry4Law recommends that to be on a safer side, it is better to comply with various techno legal laws of India while opening an online gambling, gaming and betting platform rather than facing the punitive provisions of Indian laws.
Sikkim is the most liberal State for allowing online gaming and betting in India. As per the Constitution of India, gambling and betting is a State Subject and States are free to enact laws as per their own requirements. This is a revolutionary piece of legislations as it has tried that no other State has been able to achieve. Under the Sikkim Online Gaming Regulation Act, there are provisions regarding granting of provisional and regular licences.
A provisional licence is first issued by the Government of Sikkim if it is satisfied that the application made by the applicant complies with all the requirements prescribed in this regard. A fee of Rs. If the Government is satisfied that the applicant is fully ready to commence operations of online gaming and sports gaming activity and has complied with the stipulations prescribed in the said provisional licence and such other terms and conditions prescribed in the Act and Rules, the Government may grant a regular licence for operation of online games and sports games in Form-2A for five years on payment of a fee of five lakh rupees.
If the licensee intends to include new games, prior approval of the Government must be obtained. There are no dedicated laws and regulations for online poker in India as on date. Further, there are no specific judicial decisions pertaining to playing of online poker in India. Both players of pokers and websites hosting the poker games are in a fix to decide whether to play and host the poker game on a website in India.
Till date the position of playing online poker in India is a grey area. Since the area is developing there are very few cyber law firms in India and cyber lawyers who can provide effective legal support and services in this regard.
The Information Technology Act, is the sole cyber law of India and very few law firms and lawyers are practicing in this novel field. A total of 6. You can participate using Ethereum , bitcoin , or bank transfer. Electroneum is a cryptocurrency built on the original bitcoin blockchain. The company claims to have already developed a wide range of technical products — including a mining system that can be run from your PC or smartphone to generate currency from your unused processing power.
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