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Extorting money from employers, kidnapping for ransom, robbery, and even taking their own lives can drive online gamblers to the point of desperation. While gambling for money has been a “pastime” in India for decades – in homes or even outdoors, on open lawns and on street corners, where men gather to pay for Patties and rum to teenagers – the pandemic has, like anything else. , pushed online gaming. Add to that the availability of cheap data, the rise of digital transactions, higher smartphone penetration and the rapid expansion of the supply and quality of the game, and you have a powerful mix in front of you.

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Delhi-based psychiatrist Dr Pankaj Kumar says there has been a 15-20% increase in the number of people seeking treatment for gambling addiction since the ban. For most people, it starts as a hobby that turns into an addiction. Gamblers rest in the false belief that they can quit at any time.

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That’s what happened to 17-year-old Ashwin*, who started playing more games as a way to redeem reward points. He received gifts that piqued his interest even more. What started as fun and games soon became a habit. He went from casual games to playing for money, borrowing from friends and stealing valuables from the house, even accessing his father’s bank account.

He withdrew a small amount during the year, which amounted to more than 2 million GEL. When his father confronted him, he denied it. Believing his denial, the father contacted the police. Only then did the teenager admit his habit. His parents paid off the debts and believed his promises that he would never play again. But the boy soon returned and started asking his parents for money. When her father refused, he became aggressive and beat her.

“Only then did the father realize that his son might even kill him in this rage,” said Dr Kumar. The young man was taken to a doctor for help earlier this year and is now undergoing psychiatric treatment.

Gambling releases dopamine, which makes it addictive. Dr Manoj Sharma, a professor at NIMHANS Bengaluru’s SHUT (Healthy Use of Technology Service), which fights technology addiction, said that during the pandemic, people were driven by boredom and lack of work.

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“Players first start with casual games and then move on to cash games and then to higher stakes. While every win brings a high, every loss leaves the player feeling guilty, regretful, but also hoping they can make up for their losses by playing more. When they realize that they are unable to recover their losses, feelings of guilt, despair, and failure occur, leading them to desperate measures. “

These risks are even greater in the case of minors. Some websites do not do Know Your User (KYC) or other age verification. This allows minors to easily access these websites, exposing them to inappropriate content and forcing them to engage in illegal activities, according to a study by the ESYA Center for Tech Policy on Online Gaming. It also states that “Gambling is associated with higher financial distress and lower financial inclusion and planning, higher rates of future unemployment and physical disability, and in the worst cases, significant increasing mortality.”

A Delhi-based clothing merchant is taking a gamble during the lockdown. “Eventually he started transferring stocks and selling them for nothing to fuel his gambling habit,” said Dr Kumar. In two years, his business collapsed, he fell into debt, and his children had to be taken out of private school and sent to the state. The family eventually sought medical help, but the businessman refused. “It took three months and with a combination of medication, psychotherapy, counseling sessions, his condition improved,” added Dr Kumar.

Although betting and gambling were illegal in India (except in some states such as Sikkim and Nagaland) under the Public Gambling Act of 1867, colonial-era legislation made an exception by legalizing games of skills. Later court orders recognized rummy, chess, and poker as games of skill rather than chance. But concerns over gambling addiction have prompted the southern states of Andhra Pradesh, Telangana, Karnataka, Kerala and Tamil Nadu to introduce laws banning gambling for money. However, some bans have been successfully challenged and overturned by the courts, recognizing games like rummy and poker as skill-based and legal. The governments of Tamil Nadu and Karnataka have challenged this in the SC, where the case is currently pending. In fact, the Governor of Tamil Nadu on Friday approved an ordinance to ban online gambling.

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Home gaming companies argue that there is no uniformity in the laws, which vary from state to state. They also argued that while Indian companies are subject to tax laws, the Bengaluru-based online gaming company charged with the largest indirect exposure in history – up to Rs 21,000 crore – was registered companies. abroad are exempt from the laws. frame.

In the meantime, advertising on such websites continues with a disclaimer. For example, in December 2020, ads from offshore betting websites were shown during live cricket matches between India and Australia. Many use cricket and Bollywood stars for endorsement. The self-regulatory organization E-Gaming Federation (EGF) is calling for central regulation that will protect the interests of players and the industry.

“We understand that gaming is an immersive experience and players can push the limits, but restrictions are not the answer. We are looking for soft-touch regulation that helps the legitimate industry grow while also protecting the interests of players,” said EGF CEO Samer Barde. The federation has developed a code of conduct for its members that includes age ratings, limits on time and money spent by players, and KYC norms to prevent minors from playing for money. In August, the government created a working group to develop policy for the sector.

Technology and gaming attorney Jay Saita says all games should be regulated. “All games – whether based on skill or chance – must be regulated and taxed to ensure compliance, otherwise the industry will go underground and continue to be illegal.” “

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Byju’s 3, 500 Unacademy 1, 350 Vedantu 1, 100 Cars24 600 Oyo 600 Udaan 530 Mohalla Tech 500 Mfine 500 Swiggy 380 Frontrow 280 Ola 200 DealShare in 10 industries. and resort properties and casino gaming activities. Companies in the sector own and operate casinos, resorts, hotels, ski resorts and racetracks around the world. The sector also includes companies involved in online gambling. Among the well-known casino companies in this sector are Las Vegas Sands Corp., Wynn Resorts Ltd. and MGM Resorts International.

The COVID-19 pandemic and related restrictions have had a negative impact on many companies in the casino sector. However, the industry has bounced back as restrictions have been eased. Las Vegas Strip gambling revenue for the first half of 2022 increased 36% compared to the first half of 2021 and the first half of 2019, before the pandemic.

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The VanEck Gaming ETF (BJK), an exchange-traded fund, is used as a benchmark to measure the performance of the casino industry. However, investors should note that this includes non-casino gaming stocks with different investment characteristics, such as DraftKings Inc., an online sports betting company. BJK significantly underperformed the broader market, giving investors a total return of -28.6% compared to -13.8% for the Russell 1000 Index over the past 12 months. These market performance numbers and all statistics in the tables below are as of September 16, 2022.

This is the casino stock with the lowest 12-month price-to-earnings (P/E) ratio. Because profits can be returned to shareholders in the form of dividends and returns, a low P/E ratio indicates that you are paying less for each dollar of earnings generated.

These are the topcasinostocks as ranked by agrowthmodel, which ranks companies based on their most recent quarterly year-over-year percentage growth and most recent quarterly year-over-year earnings per share (EPS ) growth 50/50. Sales and profits are essential to the success of a company. Therefore, ranking companies based on only one growth metric makes the ranking sensitive to quarter-to-quarter accounting anomalies (such as changes in tax laws or operating costs). too) which may make one or another figure unrepresentative of the business as a whole.

These are the casino stocks with the best return or least decline in total return over the past 12 months among the companies we looked at.

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