India Losing Out On Billions In Online Gambling Tax Revenues

This story was published more than 11 years ago.

A report by the Times of India this week states that the government of India is missing out on up to $1.5 billion in taxable revenues by not regulating internet gambling.

The report cites a recent study, which found that the country's internet gambling market would be worth up to $5 billion. By calculating an average tax rate where internet gambling is regulated, the study found that up to $1.5 billion in revenues could be added to the country's coffers ever year.

"Despite a booming middle class and a rapidly expanding internet user base, only the state of Sikkim has made any meaningful efforts to regulate online gambling in India," the report reads. "On a national level, there seems to be little desire to regulate this lucrative market - even though an ever-increasing number of Indians gamble online."

The number of online gamblers is expected to grow, as more and more people gain access to the internet throughout the country of 1.1 billion people.

The study goes on to state that regulating internet gambling could have other positive results as well, with jobs being created as well as better protection for punters in the country.