Cricket betting is not yet legal in India, while it is legal in many western countries. Betting business plays a big role in the economy of those countries. However, still, many people in the country do cricket betting by evading the eyes of the law, because strict laws have not been made related to it. If cricket betting is legal in India, then it can have many advantages and disadvantages. We will talk about this only in this article.
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Laws for Cricket Betting in India:
There is no specific law regarding cricket betting in India. The Public Gambling Act was enacted by the British Government in 1867, which is effective till date in Pakistan and Bangladesh, including India. The Technology Act, 2000 in India is also effective in this regard.
Although bookmakers are considered illegal in India, there is no law in the country that prevents a person from placing an online bet with a foreign bookmaker. On 4 March 2009, the Sikkim Government had enacted the Sikkim Online Gaming Rules, 2009, which lays down the rules and regulations for online gambling licensing.
Benefits of legalizing cricket betting in India:
If cricket betting will be legal in India, then many laws will also be made regarding this, so that both the government and the punters can get convenience and benefit. Below we are going to tell you the advantages of cricket betting.
- Illegal Bookmakers Will Shut Down:
Since cricket betting is not legal in India, many punters prefer to bet with an illegal bookmaker in the black market. If cricket betting becomes legal, then bookies operating in the black market will operate in a legal manner and they will all be marked legal. Despite this, if a bookie works without a license, then strict action can be taken against him.
- Black marketing will stop:
All the bookies and punters who work in the black market work evasively from the government and the law, due to which there is no account of their money and black marketing remains at its peak. If cricket betting becomes legal and better laws are made related to it, then it can be banned.
- Frauds will stop with the punter.
Fraud is the most common thing in the world of betting. Many bookies do not pay the money to the punter on time or make a mess with them, in which case the punter cannot even take recourse to the law because he himself is doing illegal work. If cricket betting becomes legal then it can be banned and the punter can also get the recourse of law.
- The economy will get stronger:
By making cricket betting legal, here both the bookmaker and the punter will work in a legal way and will also pay tax to the government on their earnings. For example, in Bangladesh online cricket betting is legal and all online bookmakers pay a tax of 21% of their profits to the government. It is believed that the betting market in India is valued at $1000000 crores. By imposing a tax on this, the government can get a big benefit and India’s economy can be strengthened.
Disadvantages of legalizing cricket betting in India:
There can be many disadvantages of legalizing cricket betting in India, which we are going to tell you below.
- Crime will start increasing:
Many poor-class people in India also like to do small betting, but they do this work by avoiding law or family. If betting is legalized, they will openly do this work and may even get into the world of crime to collect money.
- Illegal Practices Will Start Increasing:
No bookmaker wants his punter to win and he loses, that’s why once cricket betting is legal, they will be completely open and offer false odds to lure their customers so that the punter will be attracted by seeing high odds. Yes and bet on it and lose.
- One-way Team Support Will Decrease:
In betting, no player can choose his favorite team nor can he place a bet out of emotion. Sometimes the punter also places a bet against his favorite team and prays for his defeat.
- Betting Addiction Will Increase:
Betting is a process in which addiction is common. At present, people are not able to bet properly due to fear of law or fear of fraud, but if it is legalized then the addiction to betting will increase among the people and it will harm the economic and social life of the punter.