Sports betting, or the act of gambling money on a sports game is extremely popular in countries all over the world. One of the biggest forms of betting taking place today is on online applications. The Indian Premier League (IPL) has given rise to a new form of betting for cricket fans.
In the year 2017, land-based sports betting segments accounted for the highest share in the global sports betting market. With that said, the Indian sports betting industry, which exists solely online, is a big business despite the legality issues attached to it. Although, in general betting isn’t legal in India, there is still some prejudice attached to it. India views sports betting as unlawful but there is no taboo associated with online sports betting. The only federal gambling law in the country is The Public Gambling Act of 1867 which mentions about brick and mortar establishments only.
This law makes gambling illegal across the country, with a few exceptions:
Dr Sashi Tharoor advocates legalized sports betting. He had earlier mentioned that sports betting could boost the country’s revenue even further and online platforms help the government earn tax revenue. After introducing the Private Members bill in the parliament for legalising sports betting, he said, “Number one, it takes away the power from the underworld. Right now, the mafia that controls betting syndicates and bets on matches they are ones who do things like match-fixing and so on. An open above board betting system would not do that. Secondly, you can tax legal betting, and when you tax it, revenues of the tax go up.”
To know more about sports betting in India, keep reading GutshotMagazine.com
Manthra Koliyer is a writer at Gutshot Magazine. She has an affinity for seeing the world through people’s eyes. With a bubbly fun personality, you can always catch her chatting with anyone she comes across. Holding an English Literature degree from Wilson College, Mumbai, this pop culture fanatic is ready to take on the world with a pen, paper, and microphone. She also actively works on her personal blog called namasteyconvict.blogspot.com, where for a moment she lets you into her drama-filled world.
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