View: Indias betting-app ban will stoke money laundering The Economic Times

This ensured an overall profitable business for these platforms even if a section of users won. Lalwani likened betting to investing in equities – investors rarely pull out of the stock market if the prices of their shares drop. This optimism about being able to recover losses ran common among most of the young online betters Scroll spoke with. Rishabh was just 19-years-old during the 2019 edition of the Indian Premier League, when he was first introduced to apps on which users pay to create fantasy teams on every match day. Check the score based on the company’s fundamentals, solvency, growth, risk & ownership to decide the right stocks. We track news wires for key stories, conduct exclusive player interviews in both text and video formats, and file content from print editions and reporters.

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But there is no law that makes online betting an illegal activity. The surrogate news websites have striking similarities with their betting platforms. The betting platforms are not directly promoting their brand due to the norms in place and are using their own news websites for surrogate advertising. Some sponsors of teams and popular leagues in India are also going by some names which are very close to names of some betting companies.

To pre-empt possible legal hassles, the website clearly mentions how and why it facilitates online betting. The website also suggests the names of online betting agencies such as William Hill, bet365, Ladbrokes and Betfair for placing bets. “To bet on IPL games with real money, all you have to do is click on the link of the bookmaker you want to use. You then can sign up with the bookmaker by opening an One of the advisory websites, indiabet.com, claims they don’t take bets but help get in touch with international online bookmakers.

• On October 14, Kumud Rishabh, a third-year student of mass communication in Delhi, won Rs 74,000 on an online betting app after he correctly predicted that India would win a cricket World Cup match against Pakistan.
• Queries sent to the secretaries and spokespersons of both ministries went unanswered.
• However, it isn’t illegal for players to join offshore casinos in India as long as they are licensed.

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Betting and gambling are prohibited under the Public Gambling Act of 1867 and are illegal in most parts of India. Some are more traditional (e.g. European Roulette), whilst others are more entertaining (e.g. 3D Roulette). At the same time, this makes India’s gambling laws even more confusing.

Then go to the cricket section of their website, where they will list all the IPL games that you can bet on. The Indian Premier League (IPL) tops their lists now and some websites have even hooked up with offshore betting agencies, thereby allowing Indians to place online bets. Offshore betting companies are apparently using this ‘loophole’ to lure Indians to bet on pretty much everything. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.Read More The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India.

“These are shell companies with stake login opaque shareholding patterns,” Sayta told Scroll. Although he has made losses on the apps, Rishabh said he was confident of recovering them in the future. You have awarded with Avid Reader-3 for reading 50 ebooks on safalta.com.

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