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Online betting apps are causing damage to the economy, the government is preparing to crack down

Highlights

The betting market is growing steadily due to fast internet and affordable smartphones.
The betting market in India has crossed the 10 lakh crore mark.
Bookmakers are now using online apps to place bets.

New Delhi. Currently T20 Cricket World Cup is going on in Australia. In such a situation, the news of getting caught by bookies is also continuously coming out. Betting is illegal in India, but despite this, the business of betting is flourishing in India. Every day there is betting worth crores and billions of rupees. Bookmakers are now betting online, making it difficult for bookies to catch up. Let us tell you that now there are many apps available for betting, through which people now bet online. With the help of these apps, betting can be done from anywhere at any time.

Due to these apps, not only has it become difficult to catch the bookies but the country’s economy is suffering huge losses due to betting. At present, the betting market in India has crossed the 10 lakh crore mark. Let us tell you that on October 3, the government had issued an advisory, in which it was said that online betting advertisements are not being shown and betting ads are being broadcast continuously from outside the country. During this, the government had warned that if such advertisements are not stopped showing, then it will take action.

Increase in online betting
The market for online betting continues to grow from affordable smartphones with better and faster internet. With the help of online app people can play betting easily. Anyone can now bet on any aspect of a cricket match. On online apps, people can bet on everything from tossing a coin to the performance of bowlers, or even the chances of a batsman scoring runs.

10 lakh crore market
Doha’s ‘International Center for Sport Security’ had said in a report in the year 2016 that the illegal betting business was at that time 150 billion or about 10 lakh crore rupees. Earlier, the Justice Lodha Committee constituted by the Supreme Court had also told the government that India’s speculative market is worth about $ 82 billion at that time i.e. about Rs 6 lakh crore.

Which apps are included?
According to the advisory issued by the government, these apps include apps like Fairplay, Parimatch, Betway, Wolf 777 and 1xbet. According to the government, many sports channels as well as online betting advertisements are being shown on OTT platforms and their surrogate news websites on television. Apart from this, many apps are working from outside the country. These apps are also involved in tax evasion.

government is tightening
Due to the ever-increasing online betting in India, the government is now preparing to tighten the noose on it. In order to curb betting, in the last few months, the ED has put raids on many companies running online betting. Despite this, betting is not decreasing and many online betting platforms operating from outside the country are running their business.

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