The sudden exits of significant players in India’s online betting industry, including giants like bet365 and Betway, have sent shockwaves throughout the sector.
While their departure was primarily attributed to the significant 28% Goods and Services Tax (GST) levied on offshore gambling companies, the move not only creates uncertainty in the industry but also prompts numerous questions about the future of online gambling in India.
Changing Dynamics
India’s online gambling business has experienced a seismic shift due to the recent increase in the tax on Gross Gaming Revenue (GGR) from 18% to 28%; the substantial rise has disrupted the status quo and introduced challenges for businesses navigating these new economic waters.
The Indian government, eyeing the flourishing $1.5 billion industry, seeks to harness a 28% tax from the revenues of online gaming companies; however, the tax hike has not only met with disapproval from industry leaders but has also shed light on the vulnerabilities and resilience within the sector.
Roland Landers, the CEO of The All India Gaming Federation, has labelled the move as “unconstitutional” and “irrational,” echoing the sentiments of a sector grappling with a significantly altered financial landscape.
Implications of Major Exits
The departure of pivotal players like bet365 and Betway from the Indian gambling landscape leaves more than just a void; it raises a series of implications that could shape the industry’s future.
The legislative ambiguity arising from the amendment to the Information Technology Act of 2000 and the differing state laws on online betting creates a complex and somewhat uncertain regulatory environment for operators.
Also, the exit of these major entities may potentially hamper innovation and investment in the Indian gambling market and the reduced influx of new gaming technologies and marketing investments, which have traditionally benefited the industry, could hinder its growth and development.
12Bet.com: A Promising Alternative
Amidst the turbulence in the Indian online betting scene, 12Bet.com stands out as a promising alternative with numerous positive aspects of the platform that make it a viable choice for Indian bettors.
Diverse Betting Options
One of the standout features of 12Bet.com is its extensive range of betting options.
The platform caters to a wide variety of interests, offering sports betting, casino games, and live dealer games; hence, the diversity ensures that users can find a betting category that aligns with their preferences, making it an inclusive platform for all types of bettors.
Competitive Odds
Competitive odds are a crucial factor in sports betting, and 12Bet.com excels in this area. The platform consistently provides favourable odds, giving users the potential to maximize their winnings when placing bets on their favourite sports events.
User-Friendly Interface
12Bet.com boasts a user-friendly interface that sets it apart from the competition, and even newcomers to online betting will find it easy to browse and place bets. Hence, this user-friendly accessibility has helped attract and retain a diverse user base.
Mobile Compatibility
In a world where mobile betting is on the rise, 12Bet.com offers a seamless mobile experience. The website is optimized for mobile devices, allowing users to place bets, check odds, and enjoy casino games while on the go, ensuring convenience and accessibility for all users.
Live Betting
Live betting, the ability to place bets in real-time during sporting events, is a major highlight of 12Bet.com.
The platform provides an engaging and dynamic live betting experience, enhancing the excitement of sports wagering; this feature appeals to the many Indian sports enthusiasts looking to engage with their favourite matches on a deeper level.
Customer Support
Exceptional customer support is a hallmark of 12Bet.com. The platform offers a responsive customer service team available 24/7 to assist users with any queries or concerns.
This level of support enhances the overall user experience and helps in instilling trust in the platform; it’s especially valuable for users who may have questions or face issues during their betting journey.
Secure and Trustworthy
Online security is a paramount concern in the world of online betting. 12Bet.com prioritizes user security and employs advanced measures to protect user data and financial transactions; this commitment to safety and fairness fosters trust among its users, assuring them that their information is kept secure.
Promotions and Bonuses
To attract and reward users, 12Bet.com offers enticing promotions and bonuses; these incentives include welcome bonuses, cashback offers, and free bets, providing added value to the betting experience and is one of the key aspects for Indian bettors who are keen to maximize their potential winnings.
Multilingual Support
Recognizing the diverse Indian population, 12Bet.com offers multilingual support; users can access the platform in various Indian languages, making it more accessible to a broader audience.
This inclusivity is a testament to the platform’s commitment to reaching a wide range of users.
The Last Bit,
The recent shifts in the Indian online betting landscape, with major players exiting due to the high GST rates, have left a void that begs to be filled.
In this challenging environment, 12Bet.com emerges as a promising alternative, offering diverse betting options, competitive odds, a user-friendly interface, mobile compatibility, live betting, exceptional customer support, robust security measures, enticing promotions, and multilingual support.
As the Indian online betting industry steers through legislative challenges, 12Bet.com stands as a beacon of hope, catering to the diverse needs and preferences of Indian bettors, and its positive attributes make it a compelling choice in the ever-changing world of online betting in India.
