“I bet you can’t do it!” No other words in the English lexicon possess the power of motivation quite as much as the phrase mentioned above.
Betting, or more specifically wagering,makes a wager, popularly monetary on the occurrence or non-occurrence of a contingency. Sports betting operates on the same principle, except that wagers are made on the expected results of popular sporting events.
As with most things, sports betting has moved online, and it is estimated that global online betting marketing has a valuation of 58.9 billion USD.
Scandal in India:
Cricket has been one of India’s great unifiers, with the sport enjoying mass popularity throughout the length and breadth of the nation.
In 2000 the sport faced a major setback in the country when the Delhi police arrested a South African bookie, a
betting middleman, on the grounds of a conversation between him and Hansie Cronje, the then captain of the South African cricket team. What followed was one of the most chains of events as interrogations revealed that Cronje has thrown matches and implicated prominent Indian cricketers Mohammad Azharuddin and Ajay Jadeja as co-conspirators, with Jadeja facing a four-year ban as a consequence.
In recent times sports betting has taken on a new form in Indian cricket,with the Indian Premier League and Dream 11 coming under the scanner.
Legal Framework in India:
According to the Indian Contract Act 1872 and the Public Gambling Act, 1867, betting or gambling in public places is prohibited. However, these legislations are also draconian because they were drafted over 150 years ago could not have predicted the advances in technology that allow espousal of technology to gambling.
Thus, certain states have also taken to passing their legislation to address this, a case in point being the Sikkim Online Gaming (Regulation) Act,2008.
In conclusion, there is a need to view gambling and betting from a more contemporary prism, one capable of weighing its pros and cons impartially to reach a consensus.
If nothing, judi online betting could serve as a lucrative avenue for the government to earn revenues by taxing proceeds from such bets at progressive rates. Given the number of franchisee leagues popping up all over the country, the scope for such an endeavour is not insignificant. Moreover, such a step would serve to legalize grey market operations and ensure legislative control over the ecosystem to promote fair practices.