Yes. Sports and speculation are two sides of a coin in India. Both have bigger markets. As per a recent report, The gambling-betting business in the country is more than 60-65 billion US dollars, with the majority of it being illegal.
A section of the influential people in the country is busy in making vigorous efforts to legalize betting and gambling. These include bureaucrats and big businessmen. As per them with legal recognition of betting and gambling, new opportunities for employment will be created in lakhs, planned crime will be reduced, revenues of government treasury and gross domestic product will increase and how to curb money laundering. In the absence of legal recognition, in many sports, black money is imposed through speculative, gambling and sporting games, which connects society not only to the black world but also to lure the government.
There is a fundamental difference between the game of skill and the game of chances that are related to the game.
In the case of Andhra Pradesh State vs. R. Satyanarayana in the year 1967, the Supreme Court ruled that Rumi is a game which requires an adequate skill.
In 1996, in the case of K R Lakshmanan vs. Tamil Nadu state, the Supreme Court ruled that betting on a horse race is just a game of chance. Similarly, poker has also been recognized as the sport of skills in the courts of Karnataka, Kolkata, the legislation of West Bengal and recently Nagaland.
Further, speculation games include cricket, football, casino, online betting-gambling, crossword and award competition, online-offline rummy, online-offline poker, online-offline fantasy games. Moreover, speculation is also levied on the release of big-budget films in India. And in the time of elections, the demands of speculation is increased. Speculation also called Satta or sattamataka143 is a very famous game.
Still, many people are unaware that sports such as poker, rummy and fantasy cricket have already been legally recognized.