Types of Bets Placed at Illegal Casinos in India

in Business Risk

According to a report by accounting firm KPMG and the Federation of Indian Chambers of Commerce and Industry, the estimated size of the illegal gambling market in India is worth $49 Billion (3 Trillion Rupees).

In a report by Reuters news, most of the illegal casinos operated out of jewelry shops. This allows the bookmaker to be able to wash and handle large amounts of cash. Bets placed at these illegal bookies range from $80 to $81,000 (5,000 to 5 Million Rupees).

Another popular form of illegal gambling in India is through the use of online casinos hosted outside of the country.

Source:  Manoj Kumar, “Wary of pollsters, Indians draw election tips from illegal bookies,” Reuters, March 24, 2014.

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