The illegal betting market in India receives an estimated $100 billion annually in deposits, despite regulations by the government. The illegal betting market grew by 7% CAGR from 2012 to 2018, and is set to grow by 30% this year
 "High taxes pushing people to illegal online gambling as it looks at 30% growth: CSK study")
High taxes and inadequate legal frameworks are pushing people towards illegal online gambling, which is projected to grow by 30 per cent in the coming years, according to a new study by the Centre for Knowledge Sovereignty (CKS), a Delhi-based policy think tank.
Despite regulatory restrictions, the illegal betting market in India receives an estimated $100 billion annually in deposits. Independent statistics cited by CKS indicate that this market grew at a 7 per cent compound annual growth rate (CAGR) from 2012 to 2018 and is expected to grow at an annual rate of 30 per cent moving forward.
Vinit Goenka, Founder Secretary of CKS, emphasized that India’s existing legal framework for online gaming is insufficient and creates an environment conducive to the operation of illicit gambling and betting entities.
He added that illegal operators are exploiting the new tax regime, which imposes a 28 per cent tax on deposits on legitimate gaming platforms, by deceiving consumers into joining their platforms under the false pretence of being exempt from GST or other tax obligations.
According to recent estimates, online gaming companies registered under the new GST regime contributed INR 3,500 crore in the October-December quarter. The central government expects to collect up to INR 14,000 crore in GST from this sector in the upcoming financial year, with a projection of approximately INR 80,000 crore over the next five years.
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