The online betting culture has largely improved in India in the last few years. The emergence of smartphone culture and digital transaction are said to be fueling the same.
In this context, Think Change Forum has revealed its estimates that Indians are spending Rs 8.2 lakh crore ($100 Billion) per year on these illegal betting apps.
These betting apps are operated from foreign countries and they lure Indians with early offers and once the user is locked in, they are bound to lose their hard earned money to these betting outlets.
The government of India is said to be losing in the range of RS 2.29 lakh crore per year due to these illegal betting apps which don’t report their transactions to the government or the Income Tax department.
During the IPL season, a record 37 crore Indian indulge in gambling and sports betting, meaning 1 in every 4 individuals in the country take part in betting activities. Most of them have a sorry tale to tell as the eventually end up losing big money.
Usually, at many sporting activities across the globe, 14 crores Indians indulge in betting, says this report.
The report adds that the government of India should commission a taskforce to curb the betting culture and contain the spread of this financially destructive addiction.
కర్ణాటక సిఎం సిద్ధరామయ్య తన పదవికి రాజీనామా చేస్తున్నట్లు ఈరోజు ఉదయం ప్రకటించారు. డెప్యూటీ సిఎం డీకే శివకుమార్ ఆ…
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