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SPORTS BETTING IN INDIA: A BRIEF INTRODUCTION

There is a prohibition on sports betting in India but its citizens continue to wager. Nothing can stop them from their love for their favorite games. As a result, they turn to online sports betting sites like tsonebet.

Betting sites

Over 400 million people in India watch sports every year and they cannot help but place bets. Because of this, more than RS3-4 billion is bet on sports online each year. The sport of choice of most Indians is cricket but they also place bets on several other sports. These include football, badminton, มวยไทยสากล, basketball, boxing, and a lot more.

Sports books provide various bet options. The most preferred is betting on single games because of its favorable odds. Live sports betting is also gaining popularity across the country.

Almost anyone can bet on sports with so many online sports betting sites. There are even tutorials available for those who have no idea of what to do. Beginners are very welcome to try.

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Deposits

There are so many options to top-up your account in online sports betting sites. Most sports books accept credit and debit card payments. Aside from Visa and MasterCard, a lot are also accepting e-Wallets such as Neteller and Skrill. PayPal and ecoPayz are also acceptable payment methods for most sports books. Usually, you can only cash out from the same account you made your deposit. Make sure you check these before you register. Processing time varies from one payment method to another. Some are instantaneous while others take about 24 to 48 hours for up to 7 days.

Taxes

Bettors have to pay taxes on their winnings according to the Income Tax Act. Any form of gambling winnings is subject to a 30% tax rate. An education and higher-education tax is also placed on the taxable money won, so the total tax rate is 30.90%. Although sports betting is not legal in India, the government saw an opportunity to make money out of it.

Majority of online sports betting sites will let you place bets on any web browser. There are some cases where you need to download a dedicated mobile app for your smartphone or tablet. Most sites with mobile-optimization have all the same features as the desktop website. Choosing which site to use will depend on a lot of factors. Make sure to have proper research before selecting an online sports betting site. It will help you avoid scammers and illegitimate sports books.

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