Sports has always consolidated excess amount of involvement not just of the players and their supporters but of the forecasters, which impregnated,sports betting. But with return of investment and hence making it a colossal profession. Today there are professional bookers and aspirants who invest in this fraternity and make it even more interesting to the budding prospectors. With all such brief, let us read more answers to the questions that are obvious to this activity and its working.
What is sports betting?
It is merely a practise of predicting sports results and placing a wager on the outcome. The intensity of the betting opportunities varies, for example, the more the tournaments the higher is the frequency of betting opportunities. Bettors usually place their money either legally through bookies or illegal private enterprises. The realm of sports betting also extends to reality shows or entertainment events such as Academy and Oscar Awards.
Is sports betting a real profession?
This profession involves an abundance of studying and research, from knowing all the team and player trends to picking the best odds for their win. To be a successful bettor, one has to bet and win all around the year and that could not be possible merely by guesses. According to some professional experts, the one who bet all around the year and manage to win 55% of it, should consider it a fair deal.
Legality of sports betting
Sports betting has always been a complex subject for our legislatures and also falls in state list, but as per the Public Gambling Act of 1867, all forms of gambling are illegal in India. Recently, gambling was in news regarding the validity of online betting apps, to which our apex court responded as these apps should be excluded from the ambit of gambling and stated it to be ‘Game of Skill’ rather than ‘Game of Chance’.
What are sports authorities taking?
Whilst almost all major sports governing bodies, has imposed betting bans and offences are termed as ‘corrupt conduct’. Yet there have been few officials of these organisations only, who chose to address the burgeoning of betting market and advised openly to accept it and upstage it from underground level so that it could be monitored and regulated
Under legal domain.
Supervised betting authorities within taxation regularities falling under government overview. Offences treated with draconian approach and devoid of on field sports manipulation, where all athletes and concerned groups remain undisturbed, would prove to be harmless and a catch for the economy via the taxes on their incomes.