For most cricket buffs, cricket betting is an obsession, hoping to make quick money from the comfort of their homes. In the process, they borrow money from all sorts of sources. The trouble begins when they end up losing every single penny. (DC Image)
Betting is back in focus, for all the wrong reasons once again. This time, over a distressing occurrence in Karnataka’s Chitradurga which only highlights the devastating effects of cricket betting addiction.
Ranjitha, a 23-year-old woman, committed suicide on March 18, reportedly because creditors were constantly harassing her husband about his rising debts, which he has taken for cricket betting. Darshan Babu, an engineer with the Minor Irrigation Department in Hosadurga, has acquired an unhealthy addiction with betting on IPL since 2021. Reports say he had amassed a huge debt of more than Rs. 1 crore through his betting activities. His father-in-law booked a case saying “he was lured into betting”.
How Gaming Apps lure you
How Gaming Apps lure you
Every year, during IPL games, commercials for fantasy gaming apps emerge on Indian television screens. Famous cricketers and film stars promote game applications like Dream11, MyCircle11, and others, and young people are addicted to them.
Former India captain Sourav Ganguly, Gujarat Titans (GT) captain Shubman Gill, Chennai Super Kings (CSK) captain Ruturaj Gaikwad, Kolkata Knight Riders (KKR) batter Rinku Singh, and Yashasvi Jaiswal of Rajasthan Royals (RR) are among the IPL cricketers who promote My11Circle, and the app's advertisements mention “Rs 1 crore” as “first prize”. My11Circle offers the possibility to win a “prize of Rs 1 crore” for a registration fee of “Rs 49”.
Money, money, money !
An estimated
Money, money, money !
An estimated
Rs 8,20,000 crore ($100 billion) is brought into the illegal sports betting market annually from India, according to a research released by Think Change Forum (TCF) in October 2023. According to the survey, betting activity is dominated by cricket. More than 140 million Indians are estimated to be regular bettors and gamblers; during the IPL, this figure soars to 370 million.
Law of averages in betting
When it comes to betting, many people want to know how to wager with the best chance of winning. “While it is dangerous, some people choose to use the rule of averages, especially after the sport in question has been in play for some time. This is because they can see who has won and/or lost over time, which may indicate that the opposite will happen in the future game,” says entrepreneur Uday Pilani.
Law of averages in betting
When it comes to betting, many people want to know how to wager with the best chance of winning. “While it is dangerous, some people choose to use the rule of averages, especially after the sport in question has been in play for some time. This is because they can see who has won and/or lost over time, which may indicate that the opposite will happen in the future game,” says entrepreneur Uday Pilani.
According to the law of averages, you’ll lose on any betting over the long term because the bookmaker’s commission is never factored in. So it catches up. “In the absence of regulated betting, you end up getting bad odds for the bets you place, which compounds the problem. The same thing happens to day traders at the stock market,” he says.
Elaborating further, Pilani says a genuine bookmaker or bookie balances the books; that is, he will offer the betting odds for both sides. “Now, unscrupulous fellows, especially since betting is not regulated in India, will take more commission and not balance the book when the game changes or balance it unfairly for the betting guy. So even if he wins a couple of matches, over a period of time, he will lose,” points out Uday.
Law to govern gambling and betting in India?
The oldest legislation governing these activities is Public Gambling Act of 1867, which prohibits public gambling, excludes “games of skill” and cricket is a game of skill. “Under the Constitution of India, the power to regulate betting and gambling lies with the State Government (Entry 34 of List II of Seventh Schedule), which in Telangana is covered under the Telangana Gaming Act, 1974. Similar laws are formulated Andhra Pradesh, Sikkim, Maharashtra etc., specifically identifying what is permissible and what not,” explains ,” says Shraddha Gupta, Co- founder, Accord Juris & Senior Consultant, The Law Chambers).. In the year 2017, with the object of implementing the policy of zero tolerance against gambling which has serious impact on the financial status and well-being of the common public, the State of Telangana amended the Telangana Gaming Act, whereby, any act of risking money even in a game of skill either physically or digitally (online gaming) is included in the definition of “Betting” which is prohibited and a punishable offence.
Law to govern gambling and betting in India?
The oldest legislation governing these activities is Public Gambling Act of 1867, which prohibits public gambling, excludes “games of skill” and cricket is a game of skill. “Under the Constitution of India, the power to regulate betting and gambling lies with the State Government (Entry 34 of List II of Seventh Schedule), which in Telangana is covered under the Telangana Gaming Act, 1974. Similar laws are formulated Andhra Pradesh, Sikkim, Maharashtra etc., specifically identifying what is permissible and what not,” explains ,” says Shraddha Gupta, Co- founder, Accord Juris & Senior Consultant, The Law Chambers).. In the year 2017, with the object of implementing the policy of zero tolerance against gambling which has serious impact on the financial status and well-being of the common public, the State of Telangana amended the Telangana Gaming Act, whereby, any act of risking money even in a game of skill either physically or digitally (online gaming) is included in the definition of “Betting” which is prohibited and a punishable offence.
Before the tournament starts, gamblers can usually put outright wagers to speculate on the competition's long-term result. Throughout the game, the odds for outright wagers may change in response to team results and other variables.
l Handicap betting is a kind of bet that seeks to even the odds between two teams with different strengths. This involves assigning a notional run or wicket advantage or disadvantage to a team before to the commencement of the match
l In cricket betting, over/under markets entail making predictions about whether a given statistic, like runs scored or wickets taken, would be over or under a predetermined figure set by the bookmaker.
l It involves predicting the outcome of the first ball or over in a cricket match. Bets can be put on a variety of outcomes, including the mode of dismissal, the number of runs scored, and even a dot ball..
l Run betting is an intriguing part of cricket betting in which bettors anticipate how many runs a team will score throughout their innings. It adds excitement to the game and offers potential prizes for correct guesses.
l Player bets are sports bets in which a bettor wagers on a specific player’s performance during a game or competition. These bets can be placed on different statistics, such as the number of goals.
l It is a cricket bet in which you predict which player will take the most wickets in a certain match or competition. A wicket is when a bowler successfully removes a batsman by either hitting the stumps with the ball or catching the batter's ball before it hits the ground.
l Bowler betting is a sort of cricket betting in which the bettor predicts which bowler will take the most wickets during a match or series. This form of bet is popular.
l A ‘batsman bet’ is a common cricket bet in which punters bet on certain batsmen and their performance during a match or inning.
l Team bets are a common sort of sports betting in which the goal is to forecast the performance of an entire team rather than an individual player.
l A ‘Series Winner’ bet is a common cricket wager in which gamblers predict which team will win the overall series.
l A ‘win-toss’ bet is a cricket wager in which the punter predicts which team will win the coin toss before the start of the match.
( Source : Deccan Chronicle )
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