Gambling is currently a popular activity in India and extensively on the rise for online casinos and Land-based ones. Gambling business, although being a profitable venture, is highly regulated, with only a few states allowing it through the implementation of the license requirements. For most investors, especially new entrants into the gambling business might not know the right procedures for getting a gambling license or might find the whole process daunting, as licenses tend to vary with different gambling products. Luckily, we are going to take you through the entire process of acquiring a gambling license in India.
Requirements for an Applicant
Operators in Goa are allowed to operate gambling activities such as electronic amusement or slot machines in 5-star hotels. Licenses are, however, applicable for a maximum of 20 slots machines.
The cost of getting a license is INR 2000000 for both offshore and onshore casinos despite the number of tables or machines in the casino premise.
For a 100 square meter land-based casino, the operators pay INR 25000000 per annum in a 5-star hotel. For an offshore casino, the operator pays INR 70000000. It is worth noting that annual licenses increase in the future.
An operator is usually allowed to apply for a permit for a game of skill that takes place in a fair, carnival, or market place that the public can access. The operation fees charged usually is INR 10.
Licenses are regulated by the government to ensure that operators organize the gambling activities in unison with the Sikkim act, which states that the operations should carry out in a five-star hotel.
The Sikkim act charges the operator an annual fee of INR 1 lakh, under the Sikkim rules and regulations. The government also charges the operators an online levy of 1% of their gross income.
The Nagaland act is responsible for issuing licenses for games of skill such as poker, rummy, spade, snooker, etc. The fees charged for the permit per game for three years is INR 10Lakhs or a duration of two years having a payment of INR 50 Lakhs per annum.
Having a gambling license ensures you have a smooth running of your casino business. It will also attract more investors and also increase your client base while avoiding fines or prosecutions by the law.
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