[Siddhartha Arya]

Indian government passed 'black money act' to stop Indian punters from hoarding money in e-wallets like Neteller and Skrill and not paying taxes on it. They did so last year :

http://www.india-briefing.com/news/i...ce-11224.html/

But the act was passed for to pay taxes and penalty on the money hoarded on e-wallets at that time. So I guess Indian punters using betting websites from India have now ceased to exist as they would directly be against the act if they bet online.

[Optional]

I knew India did not allow paypal to hold balances for residents.

I think there are many local underground bookmakers in India?

[slayer14]

Its all black money illegal betting in India like you will find a Bookmaker in a normal house.

[Siddhartha Arya]

I knew India did not allow paypal to hold balances for residents.

I think there are many local underground bookmakers in India?

Paypal never bothered with Indian punters as they followed foreign exchange acts instead of breaking them. Some other e-wallets like Neteller did the exact opposite of that. All underground bookmakers are completely illegal regardless of how large their business(supposed to be in billions if you Google it) is and/or if they've any nexus with immoral chaps in the bureaucracy. The courts considers all such in-house betting illegal. These online punters were not even paying taxes on their earnings so the black money act was passed.

[Siddhartha Arya]

Its all black money illegal betting in India like you will find a Bookmaker in a normal house.

I was looking for any Indian punters still roaming on these forums. I expected all of them to disappear in oblivion after the act.

[Optional]

Paypal never bothered with Indian punters as they followed foreign exchange acts instead of breaking them. Some other e-wallets like Neteller did the exact opposite of that. All underground bookmakers are completely illegal regardless of how large their business(supposed to be in billions if you Google it) is and/or if they've any nexus with immoral chaps in the bureaucracy. The courts considers all such in-house betting illegal. These online punters were not even paying taxes on their earnings so the black money act was passed.

That's not a good reason. As most gamblers lose the govt would lose tax in total if they tried to treat it like income. Hence it not bein g taxable in most Western jurisdictions.

[pabonaparte]

Government not liking residents losing money they could legally spend on gasoline alcohol and tobacco. The bureacreacy is there to tax you and get wealthy not protect you from bad things.

Same bullocks different country.

I reckon this will just lead profitable punters away from India and the country will get zero tax in the end. Hard to keep a good man down!

[jjgold]

It amazing how so many Countries treat gambling i a bad way

So many worse things and worrying about $20 bets

[Artizan]

Do not think that this interdiction will stop peopl,e from betting, they will find other ways to avoid these taxes if they are too high for their budget.

[Siddhartha Arya]

That's not a good reason. As most gamblers lose the govt would lose tax in total if they tried to treat it like income. Hence it not bein g taxable in most Western jurisdictions.

You are obviously right. Most of the punters do not make money. But they have even more strict laws to deposit any money outside country for the purpose of betting. Neteller was undoubtedly involved in helping punters to bypass that. They had to to retreat a few years ago.

But oh the irony, Paysafe card is now available in India and it seems that is Neteller itself with another name.

[Siddhartha Arya]

It amazing how so many Countries treat gambling i a bad way

So many worse things and worrying about $20 bets

According to media reports, our illegal betting market is worth billions per year if counted in USD. The government somehow fails to control it if media reports are true.

[Siddhartha Arya]

Do not think that this interdiction will stop peopl,e from betting, they will find other ways to avoid these taxes if they are too high for their budget.

The fellows involved in illegal in-house betting most probably never pay taxes on that. Those who still use websites located in other countries have probably come up with their own improvisations. I was trying to follow betting laws in our country. I have been reading about them for the past few years but it seems that countrywide legalized betting isn't possible in India. One state Sikkim has passed gaming laws but home department of union govt. has restricted them to setting up betting shops only in that state. Now population of that state is not even a trifle in a country of 1.2 billion people.