Cricket and Gambling

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Submitted By vibhortek
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Cricket, Gambling and India

Gambling has gambled heavily on India. It’s appetite to enter Indian market, over the years, has shown only signs of strengthening. Now it has on its side some of the biggest moguls of Indian industry like Subhash Chandra (Zee) and Vijay Mallya (Kingfisher). Subhash Chandra might be famous as a media biggie but as early as in 2007 he earned almost as much from his lottery brand Playwin as the rest of his media, packaging and real estate businesses added together i.e. a cool Rs. 2400 crore.
According to Playwin website, the company has at least ten games to offer. The lotto & gaming brand of Pan India Network Ltd. claimed in June 2010 to have created 71 crorepatis and over 3,000 lakhpatis from all over India within a short span of 8 years since its establishment. Of course it doesn’t talk about the many people who would have gone bankrupt due to gambling.
But this is the visible picture. According to a story published in the Businessworld in 2008, unlawful betting in the IPL cricket season averaged $100 million per match in 2008. Indians bought over 30 million lotteries a day and the lottery market alone was estimated to be upto Rs 50,000. The total gambling industry was upwards of Rs. 100,000 crore in 2008 itself. There is hardly any doubt that despite all the recessions, the gambling industry has only gone up. Howsoever we frown at the moral aspect of gambling, it remains the most popular vice. That it can’t be stopped is clear. That it be regulated and made legal remains to be tried.
The most recent spate of events has once again highlighted the necessity to legalise it and make its tracking possible. On February 13, 2011, The Guardian reported Indian police being on alert as bookies prepare for betting bonanza duirng the ongoing ICC Cricket World Cup.
Not a week passed and reports came of Indian police arresting nine men…...

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