Who identified that ‘online gambling is a serious issue that has not been addressed under any law’?
(A) Asian Cyber Law Institute
(B) Indian Online Institute
(C) Asian Internet Association
(D) American Cyber Law Institute
Correct Ans: (A)
Explanation:
The Asian Cyber Law Institute identified online gambling as a serious issue that lacks proper legal regulation. This concern arises due to the rapid growth of internet-based betting platforms, which often operate without clear legal oversight.
Moreover, online gambling poses risks such as fraud, money laundering, and addiction. Since many countries do not have specific laws addressing digital gambling, operators exploit legal loopholes. As a result, law enforcement agencies struggle to monitor and control these activities.
Additionally, the absence of regulation affects consumer protection. Many online gambling platforms do not follow fair gaming policies, which increases the risk of financial loss for users. Without proper legal frameworks, affected individuals have limited options for seeking justice.
Furthermore, legal uncertainty makes it difficult for governments to implement taxation policies. Regulated gambling contributes to national revenue, but unregulated online platforms bypass financial regulations. This leads to economic concerns, as governments lose potential tax income.
Overall, the Asian Cyber Law Institute’s observation highlights the need for comprehensive legal frameworks. Governments must establish clear policies to regulate online gambling and protect consumers. Addressing this issue through legislation will ensure fair practices and reduce associated risks.
