‘Game Of Gamble’ Slowly Spreading Tentacles In India
India, with a population of almost 1.4 billion, is one of the most interesting gambling markets for companies all over the world as they see a huge potential for placing their products. Also, thanks to their British heritage, Indians are very open to gambling as a pastime activity. Whether it is horse racing betting or gambling online at the reviewer casino sites, Indians are ready to feel the thrill of a good bet.
According to Economic Times, 30% of all plane passengers to Goa were gamblers, ready to spend their money in popular floating and land casinos. So, if Indians are ready to sit on a plane just to play in a casino, are there enough offers that live up to the ever-increasing demand?
Even though there are people who don’t mind placing their bets in unlicensed casino houses, most people still want to play legally. After all, India is one of the very few countries that fine both the casino owner and the casino customer in case they get caught in illegal gambling. Owners of such venues face a fine of ₹200 or imprisonment of up to 3 months, while customers will have to pay a ₹100 fine or end up in prison for a month.
The gambling industry in India is regulated on a local level, in every state. There are two exceptions to this rule – traditional lottery and horse racing that are legal in all states. Only three states provide licenses to brick-and-mortar casino venues, while others made such businesses illegal. Goa, Sikkim, and Daman are states where both Indians and tourists can experience traditional casino games. The Goa, Daman and Diu Public Gambling Act issued in 1976, limits the casino venues to five-star hotels and floating vessels, thus preventing all interested entrepreneurs from simply running a casino.
When it comes to online casinos, things get somewhat complicated. There is not a single Indian-licensed online casino. In 2010, there were some predictions about how Sikkim would provide three online gambling licenses (with William Hill and 888 being interested parties), but unfortunately, the negotiations failed.With being one of the most populated countries in the world, India is a huge and very profitable market for all industries, not only online casinos and betting. Offshore companies are allowed to offer their services to Indian customers but only under one condition – they have to enable depositing, playing and withdrawing in their local currency (the Indian Rupee).
So gambling is very much present in the lives of many Indians, but online casinos are much more accessible than traditional venues.
According to research conducted by PlayWin, a Sikkim-owned lottery, India will be losing more than $1.5 billion in taxes annually just because they are ignoring the online casino industry. The entire economy is also losing money as they are missing out on providing additional services to offshore gambling companies like marketing activities, special events, customer support, etc., while other countries, like Malta, managed to make gambling industry a major part of their local economy.Is online gambling industry the future?
The question is, how long can India ignore the thriving online casino industry? Of course, there is a high chance that authorities consider the entire business sector to be devastating for society, but that won’t prevent people from gambling. Remember, during festivities such as Holi, gambling activities increase up to 40%, and they mostly take place in illegal and improvised casinos. Gambling and betting are as old as mankind, and no regulations can prevent people from having fun.
It can be expected that sooner or later, India will have to follow the footsteps of Italy and the United Kingdom and focus on licensing online casinos, not only because it can make a significant part of the state’s budget, but also to protect customers and provide an efficient regulatory framework. As many online casinos offer sports betting as well, we can hope to see this market segment being more efficiently legalized and not focused exclusively on horse racing, as there are many other sports interesting to Indian punters.
Online casinos are here to stay. As long as a player has a good and reliable internet connection they can access their favorite games without ever leaving the house. Modern transaction methods such as eWallets and special vouchers make depositing and withdrawing safe. There are no additional costs in terms of accommodation and plane or train tickets to get to Goa.
All the player has to do is use a computer or a mobile phone to log in, and they can start to spin some slots already. With installed mobile casino appsthttp://www.hydnews.net, players can even play while commuting to work or having lunch – they literally have a whole casino in the palm of their hand.
Asset tokenization is a revolutionary new approach to asset management that involves replacing sensitive information with digital representations of it, increasing security while simultaneously decreasing costs and making trading assets simpler.
Asset tokenization has created investment opportunities across various industries, giving art collectors access to fractional ownership sales of their artworks.
Selling Article
Tokenization of assets is an emerging trend and many businesses are eager to get on board. Tokenization involves converting ownership rights of an asset into digital tokens on a blockchain network. This provides key advantages like traceability and security; additionally making it easier for investors to gain access to otherwise inaccessible illiquid assets.
For tokenizing assets to take place smoothly and efficiently, there are various vendors who specialize in this service. They can offer an end-to-end solution or white label option tailored specifically for their client and assist in meeting regulatory compliance needs such as creating compliance structures. Selecting the ideal vendor is key when beginning this journey.
Once a token has been created, it becomes an immutable record that cannot be altered, meaning no one can claim ownership fraudulently and increasing reliability of records within supply chains.
Tokenized assets range from art and sports clubs, real estate properties, company shares, debts and commodities – everything from art galleries and sports clubs to real estate, company shares, debts and commodities. By tokenizing such assets it allows smaller investments in illiquid assets which opens the market to billions of potential investors while eliminating middlemen thereby decreasing fraud risks; additionally it protects patient data against cyber attacks that are commonplace in healthcare environments.
About Autentic.capital
At present, we are in the early stages of digital asset transformation. This change will enable traditional assets like stocks to be tokenized for tokenized trading platforms like Atentic.capital. As part of its ecosystem services platform for digital asset trading platforms.
Autentic.capital is an independent wealth management firm this type of professional service provider.
The platform utilizes blockchain technology and provides its investors with an exceptional level of transparency and trust, enabling members to invest directly into various securities without needing an intermediary broker.
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Tokenizing an asset refers to creating a digital representation or placeholder of it that can then be traded on blockchain networks and may contain data such as transaction histories and ownership records that represent its underlying asset.
Considerations and limitations associated with tokenization must also be taken into account, the first of which being that it doesn’t always give legal ownership of an asset being tokenized – for instance if I purchase a tokenized bond I may own it technically but only own part of its legal value, leading to more confusion over its legal landscape in general. This development highlights why the legal landscape surrounding tokenization still needs more work.
But demand for automating asset tokenization for improved liquidity and risk management should drive market expansion over the forecast period. Furthermore, an increasing need to democratize access to alternative investments and broaden diversification opportunities should drive further market development.
The global asset tokenization software market can be divided into three main segments, according to type, deployment method and application. By type of tokenization software used for asset illiquidity or real estate tokenization purposes as well as stable coins or others is included; cloud-based and on-premise deployment methods; application includes financial enterprises and banks are included among them as potential customers of asset tokenization technology globally. As predicted in our forecast period this market is projected to experience exponential compound annual compound annual growth due to rising demand across various industries worldwide for this technology.
Tokenization
Tokenizing data has many uses. One such way is for subscription billing and recurring payments where customers are asked to save their card details or eCommerce sites that provide “one-click” checkouts for customers. By tokenizing data, these transactions can process faster while decreasing abandoned sales rates significantly.
Tokenization should not be seen as a stand-in security solution, and should be combined with technologies such as data loss prevention, rate limiting, and monitoring. When considering token use as part of their overall security solution it must also consider storage costs associated with data vaults as well as plans for future expansion.
Apart from increasing security, tokenization makes adding additional features easier; particularly for applications that use original data without needing detokenization. This increases efficiency and decreases costs by eliminating unnecessary exchange processes that would need repeating themselves repeatedly.
Institutional investors are increasingly using tokenization to diversify their portfolios by investing in alternative assets like cultural heritage, digital music and film catalogs and real estate. Such investments provide access to markets otherwise closed off while also opening the market up for new forms of investments to be introduced into it.
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