Abstract

Over the last two decades, there has been a significant growth in public knowledge of capital resources, including profit-driven exchanges and games. Gambling and betting are popular financial and recreational pastimes. Although gambling is firmly ingrained in Indian culture, the Public Gambling Act of 1867, enacted during the British Empire, prohibits all forms of gaming. Despite a shift in the gaming sector, the statute remains mostly unchanged 160 years later. Sports betting and gambling laws need to be updated to reflect technology advancements and developments. Commissions established by the Supreme Court of India and Parliament have proposed reforming the gaming act to legalise betting and gambling for the country's socio-economic benefit. The paper proposes a complete legal framework to govern gambling and betting in India, emphasising skill-centric games, fair procedures, and requiring bettors to register with a licensed operator. The paper highlights the importance of a modern protocol for licensed gaming and betting, particularly with the rise of blockchain-based platforms and crypto-currency acceptance as payment methods. This paper suggests that India should follow the lead of other nations by enacting a comprehensive gaming law that replaces any conflicting regulations.

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