Dec
16th

UK Gambling Companies Target India

Amongst the 13 UK gambling operators moving for licenses in the jurisdiction of India with its estimated GBP 37 billion betting market are Betfair, Bwin and William Hill.

The province of Sikkim will be the first area to offer online gambling licenses but will only be granting licenses to three of the 13 companies competing.

The companies eventually holding the licenses will have the ability to promote their services and take bets all over India with its overall population of 1.2 billion.

According to the law in India, foreign companies need an Indian partner in order to conduct any business in the country. William Hill is reported to have talked with a Sikkim based company, Global Torrent International while Betfair is rumored to be partnering with Agilisys Managed Services.

A spokes for Ladbrokes stated that they are waiting to see what develops as there are lots of partner opportunities in order to obtain a license in the Sikkim province.

It is presently only legal to bet on horse racing in India or gamble at the casinos that are situated in Goa and Sikkim. Betting on horse racing brings in an annual revenue of GBP 245 in India. Bets worth an amount of GBP 24 billion, mostly on cricket, is wagered in the black market.

It is still uncertain as to whether or not Sikkum will permit multi state operations and whether the people of Sikkum will benefit from the introduction of the licenses.

Those companies who have put in a bid are hoping to have their betting services live by April 2010, in time for the football World Cup in South Africa.

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