In India betting online on IPL is completely legal under the eyes of law. The Public Gambling Act of 1867 clearly states that land betting or common gambling houses are completely illegal in India. But there isn't any specific law for online sports betting.
The white collars are making this black market big - IPL's sixth edition, according to several bookies ET spoke to, is attracting huge bets and enthusiastic participation from white collar professionals is the key reason.
Bookies who run the illegal cricket betting operation and who spoke on the condition of anonymity, said total bets on IPL-6 are likely to touch Rs 40,000 crore, a 25% jump over IPL-5 - and eight times the Rs 5,000-crore turnover for bets on last year's Gujarat assembly elections.
A typical white collar, newbie punter in the Indian Premier League betting game is a 20-something banker ET spoke to. The banker, who did not wish to be identified, said he turned from friendly bets with colleagues and friends to organised IPL betting because "if you win, you win big". The banker said he had bet Rs 1,000 on an outcome and won Rs 2,000.
Bookies say it's this attraction of high margins coupled with the option of placing small bets - the minimum a bookie will accept is Rs 1,000 - that's getting white collar types hooked. They said, the big volumes are still from the big players - bets of lakhs are common among these punters - but the jump in total turnover is thanks to the participation of the typical office manager type.
- Betway.
- bet365.
- 1XBet.
- Melbet.
- Parimatch.
- 22Bet.
- BetWinner.
- Dafabet.
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