Giant Bookmaker Betfair has issued a statement in which it says that all Indian accounts will be shut down come January 28, 2019.
We got hold of the email — which has been sent out to all their customers in India — through an anonymous source.
The notification reads – “We’re sorry to inform you that we will stop taking bets on Betfair in India in the new year. We will be closing our website for all customers from India on 28th January 2019. All bets placed to that date will be left open. Sportsbook and matched Exchange bets will remain in place until results are determined and markets are settled. Please visit the website and manage any open positions and withdraw any funds in advance of the 28th January 2019. Matched bets after this date will be settled once results have been determined and winnings can be collected through Customer Service. If you are having any difficulties accessing your account or would like to withdraw winnings from settled bets after January 28th 2019, please contact our Customer Service Team to withdraw any outstanding funds. We understand this is frustrating and apologise for any inconvenience which is caused.”
This move has perhaps been ‘forced’ by the govrnment in the wake of the 2019 General Elections.
However, in modern times when almost all developed countries are legalizing and regulating gambling, ‘morally-sound’ India has kept its eyes closed on an enormous revenue generating opportunity, which may also lead to the curbing of prevalent match-fixing.
Notably, the loopholes in the the centuries old Public Gambling Act had allowed many fun-loving punters to open an account with Betfair, despite betting being illegal in the country.