Betting vs Fantasy Sports - Illegal vs Legal
Can Illegal Sports like betting be terminated with the help of Fantasy Sports in India?
Gambling and sports betting have a long history in India. The Law Commission of India advocated allowing sports betting in India back in 2018. At present, sports betting is being practiced illegally by violating the law. In the last decade, online betting has grown at an exponential rate. This raises the question of whether fantasy sports platforms can eradicate the tradition of sports betting in India.
Fantasy sports, unlike sports betting, are considered skillful activities which require knowledge, and tactics. Thus it allowed in India to play for money or for free. The current value of the fantasy sports market is expected to be Rs. 43.8 billion, with a projected value of Rs. 118 billion by 2023.
Sports betting, on the other hand, is projected to be worth approximately Rs. 3000 billion, despite the availability of fantasy sports and the fact that it is prohibited, according to a FICCI analysis.
Money is exchanged through bookies, foreign websites, and technologically enabled channels like encrypted chat rooms.
According to the FICCI, the government loses Rs. 19,000 crore in tax revenue every year by making sports betting illegal. Goa and Sikkim as examples of such states that have legalized gambling resulting in the creation of 10,000 jobs. Apart from that, illicit sports betting is used to support terrorist activities all across the world, and regulating it would allow the government to better track money flows and put a stop to terror funding.
The main motive behind the government restraining from legalizing sports betting is that the government wants to maintain proper law and order, also the well-being of the citizens. Gambling is based on luck where people are standing on a pole of fortune closing their eyes without any idea of what is going to be the result. Many people are also targeted by promising that there will be an instant monetary increase and also in large amounts. This is also a reason for more and more of them getting involved in illegal activities and ending up hopelessly unable to recover none of their investment from sports betting.
However, with the advent of the fantasy sports industry, there has been an influential cut in the revenues of the sports betting industry. As technology advanced, better infrastructure facilities, cheap handsets, seamless internet connectivity, and also increasing number of leagues around the world have resulted in the popularity of fantasy sports. We further could see sports gamblers to quit their platform and playing fantasy sports. All that is required is moral education, and government support. Also keeping in mind how fantasy sports is adding to the economy, there should be a governing body in support of fantasy sports platforms to ensure total protection against any fraudulent activity.
Again playing Fantasy sports is absolutely legal in India. One can try it to know its features and significance in increasing the enjoyment of watching a live match. Real11 is the most trusted app amongst users in India. It has fantasy sports like Cricket, Football, and Kabaddi to choose from. So make your teams now, join contests, and win massive rewards in Lakhs of rupees.
This game involves an element of financial risk and may be addictive. Please play responsibly at your own risk.
This game is applicable for people 18+ only.