Will Cricket Betting Be Legal in India?
Cricket Betting Be Legal
The industry lobby Ficci estimates that cricket betting in India is worth over Rs 3 lakh crore, with 80% of the market being accounted for by the sport. The Centre of Economic Excellence is expected to earn up to Rs 20,000 crore if the Lodha Committee’s recommendation for legal cricket betting is enforced. The sheer amount of money that can be wagered is staggering. However, there are a few problems with cricket betting as it currently operates.
Sports betting in India is prohibited, with the exception of certain states. The Public Gambling Act of 1867 distinguishes between games of skill and games of chance. Winning bets on cricket matches are not allowed in India, but betting on horse races is permitted. While many Indians believe cricket betting is illegal in the country, many other countries do not view it as such. In India, gambling in the sport is legal in other countries.
There are several reasons for this. One is that it generates an additional source of revenue for governments. Another is that it helps reduce match-fixing, which costs the Indian exchequer over 2 lakh crore annually. In India, online betting is illegal, so legalizing the sport will help to reduce that figure. While the government might be reluctant to make sports betting legal, Dr. Shashi Tharoor, a passionate cricket fan, is a proponent of the idea.
Another major reason to legalize cricket is the possibility of curbing match fixing. It has been found that horse racing and cricket betting are similar in that both sports are games of skill. In addition, they are both sports that require different skill sets. Legalizing cricket betting will also help to reduce the black market. A recent scandal involving three Indian cricketers, including ICC World Cup winner Shanthakumaran Sreesanth, has provided a good example of how gambling can be regulated.
Will Cricket Betting Be Legal in India?
While online cricket betting is still illegal in India, it is perfectly legal to bet on it. Unlike casinos, it can be done without any hassles. It’s best to look for a legitimate betting app. Moreover, you should check whether the cricket betting website or app is licensed by the government of Curacao. This license is the most important factor for protecting yourself from scammers. It’s also an assurance that you’re betting on a legal website.
In addition to betting on cricket, betting on horse racing is also illegal. Indian law does not allow gambling on horse races. However, horse racing betting is legal, and other sports betting is subject to individual state laws. The Public Gambling Act of 1870 prohibits betting in Indian sports. There are still a few grey areas in the law, but it is worth a bit of research to be sure. So, will cricket betting be legal in India?
While sports betting is illegal in India, Indian citizens are able to place bets online, but they cannot legally place their bets at brick-and-mortar bookmakers. Fortunately, there are online media that make it possible for Indians to place their bets. Indian citizens can also bet on cricket via offshore bookmakers. In the end, offshore bookmakers are legal in India. You can also find international betting companies that service the Indian market.