To Bet or Not to Bet in India
Gambling in India has been a part of ethos since ancient times. In Indian society, there is a widespread and deep-rooted belief that gambling is a bad and social evil, facing negative perceptions across the population in general, as well as in government and media. Betting is the act of putting at stake a wagering amount, valuable or liquid cash, on the prediction of occurrence or non-occurrence of an event.
According to the Federation of Indian Chambers of Commerce and Industry, India’s estimated illegal betting market is worth over Rs. 3,00,000 crore, a figure that is perplexing given India’s defense budget for 2019-2020 is Rs. 4,31,000 crore.
Engaging in online betting is difficult for many Indians. Depositing money on betting sites like Betway can be a complicated affair for the average Indian person. Hawala, an alternative remittance channel is hence used to obtain passwords and carry out transactions on betting websites abroad.
There exist two kinds of money trail involved in the betting underworld. Black money exchanging hands, and white money being turned into black money due to the illegality of betting in India. The latter, raising concerns about the economic stability of present-day India.
It is said in India that cricket is not a game but a religion. In 2019, the India-Pakistan ICC World Cup match astonishingly saw a viewership of 229 million within India alone. Economic exploitation of cricket is widespread including sponsorship, merchandising and broadcasting rights, to name a few.
However, prevalent and illegal exploitation in the name of betting supersedes all of the above due to the nature of the transaction in that the said consideration paid, is officially taken out of India’s financial system and put into a parallel industry which remains untaxed and unregulated by the Indian government.
Historically, India’s stand against the legalization of betting is based on morality. It is understood that with betting, other perils such as toxic vices, trouble in family and loss of wealth are inevitable. It is certainly true, to some extent, that uncontrolled betting is a really bad habit and can lead to addiction although gambling per se is not bad. It depends on individuals and how one gambles.
However, a relook at what is understood to be moral is needed given the pervasive nature of illegal betting and the fact that public morality is not a static concept. In the Constitution of India, betting, and gambling are enumerated in List II of the Seventh Schedule, which makes it a state subject to be legislated upon.
The state governments need to take cognizance of the effect that legalizing online casino in India may have on the Indian economy, apart from increasing government revenue. It will in the long-run increase employment, allow transparency in the market and counter the pervasive control the underworld has on the unregulated betting industry.
Besides, authorized agencies would be able to identify and prevent instances of gambling by minors. It is therefore pivotal for the Indian government to reassess their stance on betting and analyze whether morality lies in banning the activity or regulating it.
