The Famous film – ‘The Color of Money’ has a dialogue “Money won is twice as sweet as money earned.” Gambling is to play a game of chance for stakes. It has acquired a shape of industry across the globe. It is a process where fortunes are used to earn big money in small time. Still, the fact is that Gambling and gambling online casinos are heavily restricted in many countries including India. Though there are discussions about gambling in the great Epic Tale ‘MahaBharat’. There is extensive illegal gambling throughout the country. The Indian gambling market is estimated to be worth US$60 billion per year, of which about half is illegally bet. Other than lotteries, legal gambling in India is limited to betting on horse racing. In context to India, Online gambling is in its infancy in India, but Sikkim plans to offer three online gambling licenses in 2010. Sikkim also permits an online lottery, operated by Playwin, which takes bets from players throughout India. It is expected that other states will follow Sikkim shortly, thereby opening up a major online gambling market throughout India.

Beyond the widespread controversy over the funds and ownership of IPL teams, there are lengthy-status murmurs of legalizing Gambling in India. Presently, betting is banned in India, but that has not stopped people from indulging in it. Would it not make sense to legalize it? proscription never blocked people from drinking — it just made some of the alcohol hazardous. In fact, what a ban does is to drive such activity underground, with criminal elements, terrorists and the drug mafia all getting involved. Legalizing betting and other forms of gambling would minimize the underworld’s role by bringing this activity into the open. The government would also be able to raise revenues through taxation. Some might say the social consequences of gambling — stories of men gambling away their family’s savings — make it not worth the risk. But if there are regulations in place, this possibility too would be minimized. Should betting and gambling, therefore, be made a legitimate, regulated tax-paying business?

On International grounds, the turnover of Gambling and gambling online casinos are touching the sky. Six out of ten 18+ in the Britain spend up to £50 each month gambling on sporting events or the Lotto, according to government statistics. The industry is already worth £42 billion a year, but the government’s planned shake-up of the UK’s gambling laws could alter that. Analysts foresee that as a outcome of the changes the yearly sum gambled in Britain will rise to more than £61 billion. After it has spread its wings so broadly, the concept of Ludomania has hit the picture. Ludomania is an urge to gamble regardless of injurious unhelpful penalty. Gambling is believed to lead the gamblers towards crime. The habit gets on to them to such an extent that they fall short in judgment wisely before acting due to which they might land up in inferior situations. They may take incorrect decisions in life. People who fall prey to gambling tend to float away from their families and squander cash on supplementary bad practices. The behavior of such addicts again needs money. There is a lot of costs on curing the obsessed gamblers of culture.

Everyone who is indulge in it, knows the fact that it is not favorable for them but still sheer reality shows that Casinos are crowded, and millions of currency is moving the wheel of fortune. Possibly they know but don’t believe the famous quote ‘If you are not just a little scared when you enter a casino, you are either very rich or you haven’t studied the games enough.