Current Legal Framework for Sports Betting in India
Sports betting is a popular source of entertainment in India. If you are into sports, then you love predicting the outcome. You had to visit a physical establishment to place your bets in the past. With online sites such as 1xbet india, you can now play from the comfort of your own home.
Sports betting has been a subject of discussion lately. Even though it was considered illegal in some countries, many legalized it to fight suspicious activity. India is one of the countries that hasn’t legalized sports betting yet. However, there are a few things to know about the legal status of betting in India.
Legal framework
Every country regulates this specific area. However, the legal framework for sports betting in India is quite old. The laws in India aren’t pretty clear on sports betting. According to the acts, there are two types of games: game of skill and game of chance. If you need to have skills to play the game, it is considered legal in India.
It is considered illegal when the game depends on your luck to win. However, there is no clear definition of games categorized as games of skills and chance. At the moment, horse betting is considered to be legal.
There is only one document that regulates sports betting and games. The Public Gaming Act of 1867 strictly prohibits gambling and such venues. The act also states the legal consequences for someone in that business. With the appearance of online sites, the act is somehow outdated.
On the other hand, the Prize Competition Act of 1955 says that it is illegal to participate in games where you can win more than INR1,000 as a prize. It is yet unclear if this refers to betting or not.
Even though the laws are outdated, there is a newer ones. The Technology Act of 2000 exists, but it is still unclear on its application to betting.
However, it is up to the individual states to regulate the field on their own. Currently, betting is legal in Sikkim and Meghalaya.
The market situation
India is known to have a high percentage of young people among the population. This tells enough about the potential of the betting industry since young people are interested in this source of entertainment. The youth is interested in smartphones and exploring the web, so they are also interested in online entertainment such as betting. With over 740 million smartphone users in 2020, the potential for the sports betting industry is enormous.
Combine The availability of technology with a love for sports, and you have a growing market for sports betting. Indians are huge cricket enthusiasts, so they also love cricket betting. On the other hand, sports betting is one of the ways to make money for Indian people.
The future of sports betting
With the massive potential of this industry, the government should take legal action soon. Because this is considered illegal, India loses lots of money because the users visit offshore sites. It is a question of when they will regulate betting and include it in the legal framework. The current laws are outdated since they were created a long time ago when the internet wasn’t used. Therefore it isn’t clear if they refer to sports betting or not. Legalizing sports betting would be beneficial for the economy since it is a growing industry with huge potential. The players will enjoy a safer environment, and the betting sites will offer the ultimate experience for their users.
