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Write An Essay On The Effect Of Gambling On Society

758 Words4 Pages

Gambling and wagers have always enthralled people ever since the beginning of civilization. Instances of gambling can be found in the Mahabharata , Quran and other religious texts. The law and the judiciary, in modern times, have looked at card games as a pernicious and immoral activity. In the last two centuries, sophisticated card games involving a great degree of skill and intellect have become highly popular among the masses. The laws regulating and prohibiting gambling, however, remain ambiguous and archaic. In this paper, I have researched doing a doctrinal research on the laws relating to gambling and various sports betting in India and what are the affects that is caused due to it to society and how according to Indian Penal Code why and how is it penalized.
Gambling in short can be explained as, a payment of a price for a chance to win a prize. According to the Black’s Law Dictionary , “gambling involves, not only a chance, but a hope of gaining something beyond the amount played. Gambling consists of consideration, an element of chance and a reward”
INTRODUCTION
For thousands of years people have been enthralled by games of chance …show more content…

This huge size of the potential market in India has led to a surge in the number of online gaming sites over the last few years. The impact is evident by the rise in demand for quality game content, game developers, game developing companies and the gaming industry in general. Gaming as a whole is gaining increasing significance as a major source of income and a profitable business venture worldwide. According to the FICCI-KPMG Indian Media and Entertainment Industry Report 2014, the Indian gaming industry showed growth of 25.5 per cent in 2013, is expected to grow at a CAGR of 16.2 per cent between 2013 and

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