The Indian Law has classified games into two categories broadly. These categories are games of skill and games of chance. A game of skill is a game in which the players implement a level of skill or knowledge and a game of chance is a game in which winning or losing depends on chance.
When you talk about traditional cricket betting, it is a game of chance while Fantasy cricket betting, on the other hand, is is categorized as a game of skill. Here is how traditional betting and fantasy betting compare to each other:
How to Play?
In traditional cricket betting, there were underground bookies who used to take bets from bettors who had interest in the game of cricket. This betting happened underground and away from the authorities as it is a game of chance. People used to bet on the outcomes of each ball, an entire over, an entire innings or an entire match. If the guessed outcome was correct, the bettors used to win money or else they used to lose money. This form of betting gave rise to match fixing in which the players were given money to play in a certain way on some balls, leading to an uproar in match fixing. After a lot of scandals, careful checks were implemented and this kind of betting stopped.
In fantasy cricket betting, on the other hand, people who bet on cricket have to select a team of players from the players playing the match/tournament. Different cricket fantasy games have different rules. The players should be selected according to those rules. Once the players are selected, the bettor can place a bet on his or her team. Depending upon how the players perform in the real match, they earn points in the fantasy league. If the bettor’s team has the highest total points at the end of the match or tournament, the player wins the match or tournament. Knowledge of player’s form, skill sets, and the field are necessary to participate in fantasy cricket.
Location of Betting:
The traditional form of cricket betting happens offline and off books. The amount that is earned by the bettors is also not reported. Although the earnings are on the higher end, all of it is black money, which is why it is not advised to go for traditional form of betting anymore.
The fantasy form of cricket betting is something that happens online on government-approved betting websites. The money that is earned is directly transferred to Indian banks in Indian currencies. Virtual wallets and currencies are also available and even those are government monitored. The earnings are taxed as normal income and you can win only if you have good cricketing knowledge. Therefore, all the money earned is white.
As traditional form of cricket betting isn’t strictly legal in India, if you want to show off your cricketing knowledge and earn a few bucks while doing so, you should opt for fantasy betting on cricket.