Legality Of Betting and Gambling Contracts In India
Gambling is betting or wagering money or anything at the expense of a possible future outcome to win. Gambling in India traces back to the time of The Mahabharata, almost 4000 years ago; it is described as a form of playing dice or “chausar” as it was called back then. It might be possible that gambling was introduced for people to increase their knowledge, basically to increase their capacity to take risks in their lives. Eventually, gambling became a game played by everyone from rich to poor, usually by royals in their leisure time. A famous instance of gambling, which everyone knows about, is when, in the Indian legend Mahabharata, the Pandavas wagered everything they had, including their wife, while playing dice. Since then, gambling and betting have evolved with time. People bet with money. Some people even win crores, set up a business, and live peacefully. More people have started betting illegally with money, leading to corruption and money laundering. This blog describes the various types of betting and gambling and the legal aspect of it.