Legalizing Cricket Betting Exchange: As the cricket craze is increasing in India, the demand and trend of online cricket betting are skyrocketing.
The main reason behind this is that with online betting you can bet from anywhere and anytime and it is also safer than offline betting (Orbit Exchange).
But, let me tell you that cricket betting is still not legal in India. However, it has been debated for a long time whether cricket betting should be legalized in India like in western countries.
Some people believe that legalizing cricket betting can greatly benefit the Indian economy. At the same time, some people believe that crime will increase by making cricket betting legal.
So come, let us know in detail in this article what is cricket betting. What are the advantages and disadvantages of legalizing cricket betting?
What Is Online Cricket Betting?
Cricket betting means match prediction in a way. Simply put, predicting what will happen next in a cricket match. Generally, we know cricket betting as betting.
When this process of betting is done online through any website or Online Cricket Betting App, then it is called Online Cricket Betting. But, as we mentioned above, cricket betting is illegal in India.
Under the Constitution of India and the Public Gambling Act, of 1976, all the states of India have got the right to make laws related to betting. However, some states (Goa, Sikkim, and Daman) have legalized online sports and betting.
However, bookmakers have yet to be given the right to open offices in it. Whereas online betting is not mentioned in this act, which is why the laws related to it do not exist in India till now.
Advantages And Disadvantages Of Legalizing Cricket Betting Exchange In India:
As we know, cricket betting has not yet been given legal recognition in our country, while it is legal in many western countries. The economy of those countries is getting the benefit of this.
At the same time, due to the lack of legal recognition, people do cricket betting by avoiding the eyes of the law. Of course, if someone is caught, he is also punished.
But, if cricket betting gets legal recognition in India, what would be its advantages and disadvantages? Let us know:
Advantages Of Legalizing Cricket Betting Exchange In India:
I. The Economy Will Strong:
With the legalization of cricket betting, both bookmakers and punters will also operate within the legal framework. Apart from this, he will also pay taxes to the government on his earnings.
Which will benefit the country’s economy. For example, if the total value of the cricket betting market in Bangladesh is INR 10,000 crores.
And if cricket betting is legalized in Bangladesh and all bookmakers and punters there pay 21 percent of their total profits to the Bangladesh government.
So in this way, the Bangladesh government can get a tax benefit of Rs.2,100 crores. Due to this, the economy of Bangladesh will help in strengthened.
ii. Illegal Bookmakers Will Closed:
With cricket betting not being legal in India, many punters end up betting on the black market with illegal bookmakers. If cricket betting is legalized, bookies operating in the black market will have to operate within the legal framework.
Because of this all of them will work under the supervision of the law. And if in spite of this, a bookie works without a license, then strict legal action can be taken against him.
iii. Black Marketing Will Stop:
At present, all the bookies or punters in black markets work by avoiding the government and the law. Because of this, there is no accounting of their money.
If cricket betting is legalized, this money can be accounted for and this black market can be stopped.
iv. Fraud Will Stop:
This is the most common occurrence of fraud in offline cricket betting. There are many bookies who do not give their money on time to the punters or cheat them. In such a situation, the punter does not get the support of the law, because he knows that these are illegal activities.
But, if cricket betting is legalized, then these frauds can be curbed. In addition, the punter may also have legal recourse if he is defrauded.
Disadvantages Of Legalizing Cricket Betting Exchange In India:
I. Crime Will increase:
There are many people in India who like to do small betting. Usually, these people come from the economically poor or middle class. If betting gets legal validity, then people of this class will openly bet, due to which they will get addicted to gambling.
And if they don’t have the money to bet with, they can turn to crime and bet by bringing in the money illegally. Due to this crime can increase.
ii. Illegal Practices Will Increase:
No bookmaker would want his punter to win and himself to lose. Therefore, if cricket betting is legalized, bookmakers may offer false marketing or advertising to lure their customers.
So that after seeing these advertisements punters and common people get attracted to them and gamble by placing more and more bets.
iii. Betting Addiction:
Cricket betting or Satta is one such process, which is common to get addicted to. At present, ordinary people usually do not bet due to fear of the law and fraud.
But if cricket betting is legalized then everyone from children to elders can become victims of this betting addiction.
FAQ (Legalizing Cricket Betting Exchange)
Is Betting Sites Legal In India?
Ans. The Public Gambling Act of 1867 is a central law that prohibits the conduct or charge of public gambling. There is a provision of a fine of ₹ 200 or imprisonment of up to 3 months for breaking this law. The Act also prohibits visiting gambling houses. ₹100 fine or imprisonment of up to one month.
Is Online Betting Legal In India?
Ans. Indian casinos cannot host sites that advertise or promote online gambling games such as sports betting and bingo. It is not illegal for non-Indian casino companies (so-called offshore companies) to have sites focused on Indian players.
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