What is Gambling as per Gambling Act 2005?

Merchant Services Q&AWhat is Gambling as per Gambling Act 2005?
Bankim Chandra Staff asked 7 months ago
1 Answers
Bankim Chandra Staff answered 7 months ago

The gambling act 2005 has identified 3 activities as Gambling. These are listed below with explanation.

  • Gaming. This includes game of chance or game of chance with skill. A player may play alone or with other participants. The payment may win a monitory prize or a tangible prize gift. (If the merchant offers game of skill only and no chance or luck is involved then it may not be termed as a gambling.)
  • Betting. In this activity players bet on a result that is not released at the time of betting. Examples can be horse racing or online sports betting.
  • Lottery Participation. Multiple players make individual payments to participate in lottery and the winner is chosen randomly.