Aussie gambling website Betfair has announced that it will no longer accept money from gambling websites in India, citing the lack of adequate legal and regulatory frameworks for online gambling in India.
According to the website, India is one of the biggest gaming markets in the world, with millions of people competing online for a piece of the action.
But, according to the company, India lacks a strong regulatory framework and has no laws that provide for online betting platforms to operate in India’s fast-growing online gambling market.
According the company’s founder, D. Jayant, the decision was made to leave India after the Indian government failed to enact laws that would allow gambling sites to operate legally in the country.
“Our focus has always been on providing an inclusive, high-quality gaming experience, which means providing players with a safe and reliable gaming experience for the most part, but in India as well,” he said.
The company said that it was also considering options in other countries such as Australia, New Zealand and the US.
According its website, Betfair allows customers to bet on poker, wagering, roulette and online gambling.
Users can create their own online betting accounts, add a casino and bet on sports.
Users can also make deposits to their online accounts and withdraw money from the online account as needed.