Satta, betting, gambling - whatever you call it, but this lottery system in India is a thriving business.
It is also known as 'Matka gambling', this lottery system has its roots deeper back in history of Bombay or Mumbai. The lottery system is around for many decades now but there have been few changes in the game's basic rules. Satta gambling is the only quasi-legal form of betting that is still widespread in India and people enjoy it.
Gambling is among the games, that is the oldest played game and the main ingredient is the person's luck. It doesn't take time to change a fortune, winning and losing is barely a number. You should be aware of the fact that you never know when you will taste unusual success.
These amazing levels of success and winning are the factors that attract people to put their money in playing Matka satta.
Let's have a look and understand the history of SattaMatka gambling
The oldest form of gambling in India was known to be "AnkadaJugar" that actually means Figure Gambling; it was popular in the early period of the 20th Century.
As its name indicates, it involved betting on numbers that were based on New York Cotton Exchange's opening and closing price of cotton. Later these numbers were replaced by betting on some imaginary products and sometimes the numbers were determined by playing cards.
Even though some of the rules have changed over the years, but the basic rules have stayed as they were.
Today SattaMatka is a association and is completely smooth running in order to ensure that there are no frauds in the business. The owners have full control over the satta market and they make sure that business expands on people's trust because it's the only thing that can help them grow in the market.
The law recognizes these games as either a Game of Skill or a Game of Chance. The outcome of the Game of skill is deduced mainly by physical skill or mental skill, rather than by luck. A Game of Chance is where the result is strongly affected by some device which is automated and upon which players may bid their money or any other valuable item.
Both the games, The Game of Chance and The Game of skill are illegal to be played in India.
Many people oppose and criticize The Gambling System that it leads to frauds, crimes and money laundering. While majority of the people are against the Gambling System of India, few people back the Balanced Gambling System.
Many of them argue saying that Gambling can be an immense source of direct revenue for the State. The Chief Executive Officer for the International Cricket Council (ICC) stated in the Indian National Newspaper that he was totally in the favor of legalizing betting on sports.
The Games of Skill appeals the Skill Players and many players make a living as professional players.
According to the reports the Gambling market value in India in 2010 was about $4.5 billion, in the year 2015 the value market value of gambling increased approximately to $7.8 billion. It has been forecasted that till the year 2025 the market value of Gambling will reach overwhelming amount of approximately $15 billion.
The winners from the Matka are paid usually after the day or after the draw.
Every week there are five sessions conducted on the sattaMatka It is guessed that the Satta industry makes stunning turnover of Rs 350 crores (Rs 3,500,000,000) each year.
Why Gambling should be legalized in India:
- The major reason for legalizing gambling in India is that it would be a major input in raising funds for the development of sports.
- IT would help in stopping the gamblers getting involved in illegitimate gambling.
- The approximate amount of revenue that can be collected from the Indian betting market ranges between 12,000 - 19,000 crores.
- The government can get huge amounts of funds by managing gambling.
- Match - Fixing, a common term known by all cricket fans will be reduced with the passing of this law
These all factors can act as a major motivation element to legalize the Gambling system in India
Why Gambling should not be legalized in India:
- There are lots of unclear terms in the gambling laws in India.
- Not only gambling that is not accepted in our culture, but there is also a lack of essential education and awareness in India.
- Also, there is a requirement of implementing strong laws in sports entertainment
- India is also not ready to legalize betting as it may prove disastrous when the control over the system runs out of the government hands.
Conclusion:
- Some more time should be taken in analyzing if India is ready to legalize betting in the sports.
Even though it would minimize match fixing and illegal gambling to a great extent but since it is not our culture, we should take this step very carefully.