According to statistics, Pakistan’s online game revenue is expected to reach $27.07 million in 2022. The revenue’s annual growth rate is projected to be 18.79%, leading to an estimated market volume of $64.02 million by 2027. The number of online game users in the online games segment is expected to reach 18.6 million users by 2027, with the 5.5 % user penetration of 2022 hitting 7.4% by 2027.
This implies Pakistan’s online gambling market is expected to see impressive growth in the foreseeable future. This article gives you a look at Pakistan’s online gambling market.
The legality and regulation of online gambling in Pakistan
Pakistan’s 1977 Gambling Prevention Act is the industry’s ruling legislation. It doesn’t mention the gambling activities that happen via mobile devices because the law became active when there was no internet. Nonetheless, it’s illegal for Pakistan citizens to involve themselves in gambling. According to Pakistan gambling law, operators offering the service knowingly could part with utmost a 1000 rupee fine, a one-year jail sentence, or both.
Gamblers caught at typical gambling houses may part with a 5000 rupee fine, a year in prison, or both. Those seen in public might be subject to a 500 rupee fine, one year in jail, or both. The gamblers caught in private are subject to a maximum of 2000 rupee fine, three years in prison, or both. Horse race betting is legal in Pakistan. Residents can participate in tote betting on the events held in any of Pakistan’s four horse race tracks.
While gambling might be illegal in Pakistan, it doesn’t mean people don’t play. Pakistan’s gambling market isn’t regulated as gambling is illegal. Players have little to no possible course of action should a dispute arise with an unlawful bookie or underground casino. Online gamers need to hope that their gaming website will be fair.
Online casinos in Pakistan
Online casino gamers in Pakistan can only find opportunities to participate in games of chance because terrestrial gambling areas are all illegal. While the country has tried blocking most online betting websites, bettors can still find various reliable international betting and gambling companies online. These online casinos provide a lot of action, various casino games, bonuses, and a safe avenue for Pakistan gamblers to play for real cash without worrying about money theft or potential fraud.
The gambling operators are heavily regulated by bodies like the UK Gambling Commission or leading authorities. Since they aren’t registered in Pakistan, these online casinos don’t have to adhere to the local laws and may decide to offer online gambling for money to Pakistan players.
Gamers can also participate in online roulette for real money in India. They can also try betting on cricket, craps, blackjack, poker, and slots. Pakistan gamers can also find betting on other major sports, including tennis, football, kabaddi, and squash.
How can Pakistan gamblers fund their online betting accounts?
Since gambling is illegal in Pakistan, it might be nearly impossible to utilize payment methods such as bank transfers, MasterCard, and Visa because they block gambling site deposits. Gamblers can use a secure eWallet service from providers like Skrill, Neteller, and the local equivalents as they offer safe and fast withdrawal and deposit services to online betting sites. Gamers can open an eWallet, put money in it, and then send it to their gambling accounts to place bets and gamble.
Are online gambling winnings taxable in Pakistan?
Since the whole legislative framework regarding Pakistan’s online gambling is rooted in the Gambling Prevention Act 1977, the profit-making aspect of these activities isn’t addressed. This implies that online gamblers’ winnings won’t be taxed. However, for legal games like horse races, players must pay taxes as the law directs. Gamers might also pay taxes for winnings on game shows, crossword puzzles, and raffle bets.
The future of gambling in Pakistan
Pakistan isn’t likely to legalize or regulate online gambling any time soon for various religious, economic, and cultural reasons. Nonetheless, it isn’t surprising that the local authorities aren’t cracking down on online gambling as much because there are many options, and stopping the activities completely can be extremely difficult. This means Pakistan’s online gamblers will likely keep joining the international online casino scene, poker sites, and sportsbooks to enjoy their favorite games.