India is home to 1.3 billion people. Here, different kinds of people reside with different kinds of professions. But betting is another way some sections of the total population earn money. People bet for different reasons,and there are different ways betting takes place. And the most popular form of betting is sports betting. Let’s see in detail about the law of sports betting in India.
Yes! People of the country mostly bet on sports. Sports is a form of entertainment, and placing bets on it makes watching sports more interesting.Earlier, a better used to go to a traditional betting shop for placing bets, but these days digital betting has been popular among people.
But, what does the law of India say about sports betting?It is very important to know the legal status of sports betting in India. So,Indian law says any kind of gambling is illegal. Still, The country has come out as a growing market of sports betting.
Let’s see in detail about the law of sports betting in India.
What different laws say about sports betting in India.
India makes a unique difference between a game of skills and a game of pure luck.When a person bets using his skills, then it is considered legal in India. Similarly, if a person uses pure luck in betting, then it is considered illegal.
Still, the difference between a game of skills and a game of pure chance is very unclear in India. And the only legal status is given to horse betting.It is a place where a better has to bet using his analytical skill and logical skill.
The main law for betting in India is the Public Gaming Act of 1867. It says that operation in public gambling house is prohibited in the country. If anyone is found guilty of the law, he or she will be fined or imprisoned accordingly.Another law that has been outdated for betting is
the Prize Competition Act of 1955 which says any competition having more than Rs 1000 as a prize money is illegal.
Information Technology Act of 2000 is another law which can be applied to online betting.But the law doesn’t clearly mention sports betting. So, the law is very vague for applying to online betting.
As per the constitution of India, seventh schedule allows different states to make their own betting related laws.As of now, sports betting is illegal in every state except Sikkim and Meghalaya.In Sikkim, sports betting can take place through intranet terminal. And a license is required to operate in Meghalaya.
India has a huge market for betting
India has the second largest population in the world.People have love for different sports, but cricket remains their favourite sport. It has the most number of young people in the world. And they love betting in different sports.It is growing with new smartphone users coming up. Most people who are interested in betting are young. They make betting in sports a growing industry in the country.
As per a private survey, 740 million people have access to smartphones in 2020, and the number will keep rising in the coming times. They place bets on different online websites. The majority of the betting takes place in cricket, and IPL. They place bets to make predictions about the games they love. It gives them more entertainment while watching the sports.The number of regular betters in the country is 150 million.
India needs to legalise sports betting
It is not a hidden fact that India is a growing market for betting. But India is losing millions of dollars due to the sports betting market being unregulated. The bookies are aware that there is a craze for which sport and they provide good betting options such as apps, websites, and local currency to attract bettors. But the governing body cannot do anything. They just have to see how tax evasion is going up for having outdated laws which can do nothing to regulate it.
The law of sports betting is very unclear, and it needs serious efforts from the governing body to make proper laws on sports betting. If it doesn’t happen, then the economy will keep suffering a huge loss. And betters will also have to bet in an unsafe and unregulated environment where anything can happen with their money.
To sum up, India is a growing market for sports betting. It is growing at a rapid pace for her young population. They keep betting in different betting websites and apps. But the law of India about sports betting is very unclear. This makes sports betting unsafe, and tax evasion is going on for no regulation. India has to revamp sports law to make sports betting in the country.