India's Oldest Book
Online Cricket Betting In India – Online betting has the prospective to turn the online cricket bookies into millionaires. With traditional gambling, one can only bet on physical activities like horse or greyhound racing but with internet betting; there is no limit to virtual games of chance. Betting in India becomes popular day-by-day thanks to improved technology and increased number of online betting sites.
Data suggests that India’s online betting industry is worth over $4 billion (Rs 24,000 crore). Although due to stand alone acts all kinds of gambling are illegal in India, the Supreme Court ruled that every person has a fundamental right to gamble under Article 21 (Right to Life) as per Indian Constitution.
The Beginning Of Gambling In India
Indian subcontinent was one of the ancient civilizations to play games of chance. It is believed that ancient Vedic culture used dice to predict the future, known as “Rajju-Bhet”. During Emperor Akbar, local forms of gambling were legalized which was continued by Queen Elizabeth I during 1560-1590 AD. Later on, East India Company brought in lotteries in 18th century and lotteries made a huge impact in Indian handicraft industry. Almost every major state in India has lottery schemes running in all parts of India.
Online Gambling – A New Dimension To Cricket Betting
Gambling is still illegal but the government doesn’t have any Law to control over internet therefore various online cricket betting sites came into existence offering attractive deals and discounts for punters across the world. There are many cricket websites that offer bets on all international matches, major domestic leagues like IPL, BPL, County Cricket etc. Online betting on Indian Premier League is most popular with the bookies. These sites are not only changing the way gambling is done but have also given an opportunity to every individual in India to bet online using their smart phones or laptops.
The Era Of Internet Gambling And Mobile Phones
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People of all age groups are finding internet more interesting for placing wagers both legally and illegally. It’s easy to open any account in a cricket website without leaving your home or office which makes it easier than traditional way of visiting any brick-and-mortar betting shop in areas where gambling is still legal. But when it comes to mobile phone services in India, there is a wide gap to cross. More than a billion Indians own a cell phone but only 7 out of every 100 owns a smart-phone. Although 4G services have brought internet to Indian homes at much faster speeds, there is still a long way to go to match up with international standards. In countries like Australia, internet gambling has become so popular that even the government allows individuals to place bets from their phones and other handheld devices which makes it easy for people from across the world to bet on cricket matches happening in India or any other part of the World.
Online Betting And Possible Alternatives To Gambling In India
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Since online betting is encouraged by cyber laws of different countries therefore government should take into consideration various alternatives before imposing complete ban on online betting and gambling. For example, if the government is willing to maintain a strong grip on online betting and raise money for its various schemes then it can consider adopting any of these viable options.
There Are Several Points To Consider
Allowing Online Betting As Long As The Bets Are Raised In India
This would mean that players from India will get an opportunity to bet on their favorite teams like Indian Premier League (IPL), Formula 1 Racing etc while players outside India will not be able to place bets on cricket matches in India or any other sports event happening in India. This kind of approach might save jobs and revenue for the government sector and attract more new customers who aren’t satisfied with traditional betting methods But some experts suggest it could also encourage tax evasion.
Regulate And Tax Gambling
This approach would be similar to the one adopted by UK where the government took legal control of gambling industry in 1946 under the gambling license act. The regulation came into force with an intention to generate more revenue for public finance, protecting vulnerable people from being exploited by gambling and ensuring fairness within the gambling market place. This approach has helped UK stop illegal betting operations but it also allows individuals to bet on cricket matches in India or any other part of world according to their convenience. Searching for reliable online bookies is much easier when you are allowed because there are many sites which offer attractive bonus offers and rebates on winning bets which attracts new customers who were afraid of taking a plunge in online betting without any guarantee.
Do Nothing
This approach would mean that the government will allow online gambling and betting to continue as it is with no rules and regulations. It’s true many people around the world are making a lot of money because of internet gambling but so do Indian bookies who offer bets on cricket matches happening all over India or anywhere else in world such as Australian Open, US Open (Tennis), Formula 1 Racing etc. People living abroad can now easily place bet using their phones which was not the case earlier due to slow internet services and charges levied by phone providers for internet data usage. This approach might lead to increased tax evasion and illegal activities like match-fixing but it will also generate revenue for the government in terms of increased taxes.
India's Oldest Book