Credible India
It pays potential gaming nvestors to understand domestic forces
A less socially divisive system may be for India to sanction more onshore online gaming.
The country is gradually getting wired up and the government would get a tax windfall.
Online gambling has the potential to fetch the government at least Rs 12.5 billion (US$315 million), says the chief executive of the company that pioneered online lotteries in India.
Online
“If the government permits online gaming, we estimate that it will generate business in the region of Rs 25000 crore (US$6.37 billion) in five to ten years. Of this, 5% (Rs1250 billion) will accrue to the government by way of taxes,” says Amar Sinha of Pan India Network Infravest, a company that runs the Playwin lottery brand.
Playwin is the creation of Subhash Chandra, the media owner who also set up India’s first home grown satellite channel Zee TV. In exchange for its licence, Playwin has guaranteed to the Indian government to give a proportion of its revenues to social projects.
“This money can be used to fund social sector projects in the fields of education, healthcare and the welfare of senior citizens,” adds Mr Sinha.
Big Brother
India's middle class will expand tenfold to 583 million people by 2025, estimates McKinsey.
When Singapore's integrated gaming resorts open in 2009 and 2010 respectively,Indian nationals are likely to be among the eager customers.The operators Las Vegas Sands Corp and Genting International have publicly stated they expect them.
If that happens,then the pressure on the Indian central government to get a piece of the taxaction by legalising domestic casino gaming in some form is likely to grow.
"After trialing gaming with 13 state-run lotteries, several horse racing tracks andsmall 'casinos' in Goa, the 'slippery slope' theory seems to be taking hold," is howDeutsche Bank succinctly puts it.
The country is gradually getting wired up and the government would get a tax windfall.
Online gambling has the potential to fetch the government at least Rs 12.5 billion (US$315 million), says the chief executive of the company that pioneered online lotteries in India.
Online
“If the government permits online gaming, we estimate that it will generate business in the region of Rs 25000 crore (US$6.37 billion) in five to ten years. Of this, 5% (Rs1250 billion) will accrue to the government by way of taxes,” says Amar Sinha of Pan India Network Infravest, a company that runs the Playwin lottery brand.
Playwin is the creation of Subhash Chandra, the media owner who also set up India’s first home grown satellite channel Zee TV. In exchange for its licence, Playwin has guaranteed to the Indian government to give a proportion of its revenues to social projects.
“This money can be used to fund social sector projects in the fields of education, healthcare and the welfare of senior citizens,” adds Mr Sinha.
Big Brother
India's middle class will expand tenfold to 583 million people by 2025, estimates McKinsey.
When Singapore's integrated gaming resorts open in 2009 and 2010 respectively,Indian nationals are likely to be among the eager customers.The operators Las Vegas Sands Corp and Genting International have publicly stated they expect them.
If that happens,then the pressure on the Indian central government to get a piece of the taxaction by legalising domestic casino gaming in some form is likely to grow.
"After trialing gaming with 13 state-run lotteries, several horse racing tracks andsmall 'casinos' in Goa, the 'slippery slope' theory seems to be taking hold," is howDeutsche Bank succinctly puts it.
