In India, the debate over legalization of gambling and betting traces back to ancient history and medieval times. In ancient texts like Mahabharata, there are ample instances both in favor and against of betting.
Even though, in modern India, lawmakers have decided to take safer path and have never talked openly about legalizing such activities. However, not so long ago, the law commission of India, recommended the legalization of online betting in India.
According to law commission, the ban on online sports betting has been counterproductive and has also led to massive increase in black economy.
After this decision by Law Commission, India will join the league of various other nations, where sports gambling is allowed and legal.
The countries where sports betting is legal:
- UK– UK had legalized sports betting back in 1961. The country has emerged as one the biggest betting industries in the world. It is estimated that Britishers spend close to $19 billion annually on betting.
- USA– Unlike UK, USA had also followed a very safer path in this case. It was only in this year’s May, that the supreme court struck down old law, allowing states to formulate their own rules and regulation regarding this.
- Mexico– Until the time when USA legalized sports betting, people often used to go to Mexico for this hobby. Mexico legalized betting long back in 2004. The country is known for sports betting especially football and baseball.
- Australia– Australia legalized sports betting way back in 1980 and since then has become a major hub of online sports betting.
- South Africa– The country legalized sports betting in 1994. South African people are known for betting massively in the sports such as cricket, football and rugby.
- Ghana– People in Ghana have enjoyed legalization of sports betting since 1960. The country is famous for football betting industry.
Scope of sports betting in India?
Cricket has been a massively popular sport in India. Even before the legalization of sports betting, people were involved in such activities since a long time.
In popular sports cups, such as IPL, many people have been caught involved in betting. Now however, there is a legal framework to go about it.
Many online website allow you to gamble on various sports in India.
Other than cricket, sports like football,hockey, kabaddi, boxing are also massively famous among Indians and a large number of experts and normal people gamble on these sports.
However, if you are a new face in this industry, it is advisable that you go through the complete legal framework and then put your money on something.
In case of breaking a law, you would have to pay massive fines. That’s why you would want to learn about sports betting first,and then proceed.