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Nowadays, many sports fans like Kumar are attracted to these international betting platforms where they can place bets in Indian currency. India’s online betting market is worth nearly Rs 6 billion and is growing at over 27% annually, according to one of the largest operators, Parimatch.

Online Cricket Betting In India Legality

By the way, Indian gambling laws do not allow Indian sportsbooks or betting sites to operate from the country.

How Online Betting Platforms Run Away With Coffers, Pay No Taxes

Mumbai: Mahesh Kumar, a 27-year-old software engineer from Bangalore, was heavily involved in fantasy sports until the last season of the Indian Premier League. He then met offshore betting companies like Parimatch and Betaway, which allowed him to bet online on all types of sports, from cricket to football and kabaddi to table tennis, something no Indian company was legally allowed to do

Nowadays, many sports fans like Kumar are attracted to these international betting platforms where they can place bets in Indian currency. According to one of the largest operators, Parimatch, the Indian online betting market reaches almost Rs 6 billion and is growing at over 27% annually.

The company serves the Indian market through its international website, Parimatch International CEO Anton Rublevskyy told ET. “We carry out betting activities based on the Curacao license service, offering cricket and other sports betting, as well as live casinos, slot machines and virtual games. The growing number of digital citizens in India who have access to fast and affordable internet connection has been a key contributor to the rapid growth of online betting and gambling.”

By the way, Indian gambling laws do not allow Indian sportsbooks or betting sites to operate from the country. However, there is no law for companies outside India.

Is Betting On Cricket Legal In India

These offshore betting sites, which receive licenses from Curaçao, Malta and the Virgin Islands, are not banned in India as long as they comply with Foreign Exchange Management Act (FEMA) norms and trade in Indian currency.

Legal experts believe that online gambling is not illegal in India as there are no formal laws or laws or official regulatory bodies.

“India does not have a comprehensive regulatory ecosystem for gambling such as betting. Accordingly, there is an opportunity for betting companies to structure their operations in a way that allows them to avoid legal action without circumventing the law,” said Kaushik Moitra, partner at law firm Bharucha & Partners.

However, he clarified that any gambling platform that includes the element of chance must conduct appropriate legal due diligence to comply with the law in both letter and spirit.

India Cricket Betting

Kumar and many others like him use GPay, Paytm and other UPI apps and direct debit facility to transfer money.

In recent years, several of these platforms have started to heavily promote OTT services during sporting events. Parimatch and Dafa have also started working with various sports leagues or franchises.

Parimatch News, a sports news site owned by the company, collaborated with Pro Kabaddi League franchise Tamil Thalaivas as the title sponsor. He also has a three-year contract with Premier League club Chelsea.

Asked about the legality of the service and whether it circumvents any laws, Rublevskyy said his company strictly followed the rules and worked “within the legal boundaries set by a country.”

Bet365 Is Legal Or Not In India

“The industry mostly uses the offshore license. The license allows it to raise funds and operate in India. Even in states where gambling is banned, we fully respect this and legal brands do not operate there,” he said. “The number of online gamblers and gamblers continues to increase despite some problems with government regulation of the area. The same situation happens with online casinos. An impressive number of people working in this area influence the authorities and convince them to take steps to legalize gambling. The government will benefit from regulating this sector by charging fees for the licenses issued and creating a new source of tax revenue.”

Parimatch is licensed to offer remote gaming/e-gaming services from Curacao, he said. “This license allows us to offer our services worldwide and we do not intend to circumvent or circumvent any rules or laws. We are a responsible operator.”

Most betting platforms say legalizing betting has the potential to boost India’s economy.

Parimatch supported the idea of legalizing the gambling business in Ukraine and provided advice to the industry and the government there.

The Legality Of Sports Betting In India

“We want betting to be legalized in India and have appropriate legal infrastructure in place to oversee operations. We expect betting to be legalized state by state over the next three to five years, just as the US market has done. Yes, India is a high-profile player.” “If betting is properly legalized in India, it can become a huge source of revenue for the country in the long run,” Rublevskyy added.

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To read the full story, subscribe to ET Prime. Log in to read the full article. You will receive this Prime Story as a free gift. Cricket is one of the most popular sports in India and betting on cricket is a popular pastime for many fans. However, it is important to bet legally in India. Although there are no federal laws prohibiting online gambling, some states have their own laws. Therefore, it is important that you do your research and choose a site for legal cricket betting.

There are a few reasons why it is important to bet legally in India. First, it ensures that you are protected by the law. When you bet on a legal website, you are guaranteed to receive your winnings when you win. Secondly, it helps keep the cricket betting industry fair and transparent. Legal websites are regulated by the government, which helps prevent fraud and corruption. Third, it helps increase government revenue. The government taxes legal gambling websites, which helps fund important programs and services.

Legal Cricket Betting Sites In India

However, it is important that you do your research and bet legally in India. By following these steps, you can enjoy cricket betting without any worries.

When choosing a bet, it is important to consider the odds, risk and your own knowledge of the game. You should also set a budget and stick to it so you don’t overspend.

We hope this blog helps you learn more about betting on legal cricket betting sites in India.

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Online Cricket Betting Is Legal In India

A Personal, Impartial Perspective on the Israel-Hamas War To understand this war, we must understand the millennia of history that brought us here. India is home to more than a billion people and can be said to be a country where cricket and Bollywood are considered. be more than just forms of entertainment. Indians love to play and watch cricket. They also dream of starring in big blockbusters alongside their idols like Salman Khan and Katrina Kaif. While there is no debate on the issue of legality in releasing Bollywood films, the same cannot be said about the gambling industry in India. The big question on everyone’s mind is whether online betting is legal in India.

If you do a quick Google search in India, you will find many cricket betting sites offering great bonuses. This is a stark contrast to just a few years ago when there were hardly any betting providers offering their services. There are a few reasons for this. First, internet penetration has increased in India. The days of dial-up modems are over; WLAN can now be found in most offices and private households.

Secondly, the cost of purchasing a smartphone has fallen. It seems like it was just yesterday when the first iPhone was launched in 2007 and had a price tag that was simply unaffordable for most Indians. Although Apple products are still quite expensive, there are now many alternatives available to you. Mainly companies from China offering mobile phones at cheaper prices, but enough

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