IPL : Ban on betting likely to be removed as govt looks to boost economy

IPL : Ban on betting likely to be removed as govt looks to boost economy

By now even the slowest babu in finance Ministry has realized that economy is in deep trouble. As a result, the govt is trying to use innovative methods to increase its revenue. As part of the effort, the govt is thinking of removing ban on betting during IPL.

ban on betting
Representational image of betting during IPL

Indian Premiere League of IPL in an annual dance show organised by the BCCI. As a sideshow, cricket is also played during the event. But more than cricket and dance, the event is known for betting and setting. The govt has till now tried many times to ban betting during the IPL. Indeed, recently it banned even betting on games played online. As a result, stock market was the only arena left for many of those addicted to betting.

However, punters can now heave a sigh of relief. Our sources, which include the tea vendors in Lutyans Zone, tell us that the proposal in finance ministry plans to regulate betting and tax it for revenue. The reality that Indians cannot resist betting has dawned upon the babus and in true Chanakyan fashion, they wish to profit by it.

A body named Betting Commission for Cricket in India or BCCI is to be established to oversee the regulation of betting. Indeed, clever folks in the ministry say that the current BCCI may also simply be renamed as apparently it already oversees the function in a clandestine manner.

A tax of 15% on amount to be waged is proposed as GST and income tax of 30% on all winnings is proposed. The govt will develop a portal named Dyoot{which means gamble in Sanskrit} for placing bets in a safe manner and services of IRCTC will be taken so that the portal is fast, responsive and reliable. As a result all illegal portals are being closed currently. Any person found betting outside the govt sanctioned portal

The govt is hoping to earn somewhere around Rs. 1 lakh crore every year from this source.

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